Denver rental property managements companies announced that a new Condominium will rise in the Union Station neighborhood. East West Partners and Amstar Advisers will celebrate the ground breaking of the Coloradan on the summer of 2016.
The $200 million, 19 story and 342 unit Coloradan will be constructed at 1750 Wewatta St. Both East West Partners and Amstar Advisers mentioned that Colorodan condo prices will be from $250,000 to $3 million.
The Colordan will have a rooftop pool deck and club room, a resident’s lobby, garden and a fitness room. The ground floor is intended for commercial purposes such as retail and it will include a 452-space parking garage.
Denver Mayor Michael B. Hancock announced that the Coloradan is one of the pioneer buildings to be constructed which will follow the revised Inclusionary Housing Ordinance promulgated by Denver City Council in 2014.
The ordinance mandates that 10% of the total residential units will be allocated for affordable housing. Hancock expressed his gratitude towards the development team for upholding the ordinance for affordable housing at such a prime location.
Kim Sperry, Amstar’s managing director stated that for the past 25 year, both Amstar and East West have witnessed the growth of the city and the increased demand for housing has created a great opportunity for condo development.