A Las Vegas developer is investing $45 million to build a 260-unit apartment complex on the site of the former Gates Rubber factory south of downtown.
The project, known as 1000 S Broadway, is within walking distance of two light-rail stations: Louisiana Station and Broadway Station.
“The project will cater to young professionals seeking access to the Central Business District and the Tech Center,” says
Fore Property Co. VP Jonathan Fore. “They also will have access to the entertainment venues downtown. We also like the proximity to Wash Park and Platte Park.”
Units will range in size from 651 square feet to 1,467 square feet, with rents starting at $975 a month. The first apartments will be available for move-in next summer.
The complex will have two courtyards, a pool and spa, a fitness and yoga center, a two-story clubhouse, an entertainment center, a poker room and a rooftop deck.
It’s Fore’s first project in Denver, though it has built an apartment complex in Colorado Springs.
“We’re looking at other opportunities in Denver now,” Fore says.
The much-touted redevelopment of the old Gates property fell victim to the financial meltdown in 2009 when Cherokee Denver was unable to get financing to continue environmental remediation of the 50-acre site. At that time, Gates Corp. took back a portion of the site east of Interstate 25 and north of West Mississippi Avenue.
Cherokee had projected the project would cost $1 billion, add 2,500 housing units and 5,000 permanent jobs.
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