The $92 million Steele Creek at 88 Steele St. will be 12 stories tall and likely set a record for price per unit in Denver, reports
Multi-Housing News.
Excerpt:
CBRE has announced that it has brokered a loan of $92 million for the construction of a 218-unit, mixed-use, luxury high-rise rental community on the north side of Denver’s high-end Cherry Creek neighborhood that will likely set a new price-per-unit record in the market. The community, Steele Creek, is being developed by Denver-based multifamily real estate developer BMC Investments, with financing coming from publicly-traded REIT, UDR Inc.
"Nothing like this exists in Denver," Curtis Palmer, CBRE executive vice president tells
MHN. "It’s basically the gateway to Cherry Creek, which is the preeminent market in the Denver MSA and we believe it’s going to be the nicest project there."
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