Argosy Real Estate Partners Acquires Multifamily Development Site in Denver, CO
We are pleased to announce that Argosy Real Estate Partners, in partnership with Formativ, has acquired an approximately 0.6-acre site for the ground-up development of 3850 Blake, a 310-unit Class-A, transit-oriented multifamily project located in the River North Art District (“RiNo”) neighborhood of Downtown Denver. RiNo is a former industrial hub that is going through major redevelopment to bring much-needed additional housing inventory as well as office and retail amenities including restaurants and nightlife. Additionally, the project is located directly across the street from the 38th and Blake Street commuter rail station, which provides easy access to Denver’s Central Business District and Denver International Airport. The project is located in a Qualified Opportunity Zone.
Upon completion, the project will feature a mix of micro, studio, one-bedroom, and two-bedroom units, and 107 onsite garage parking spaces. Onsite amenities will include an outdoor pool and amenity deck, fitness center, resident lounges, bicycle storage, and secure storage space.
Argosy’s development partner is Formativ, a Denver-based real estate development and investment firm specializing in mixed-use and commercial projects. The project is Argosy’s second investment in partnership with Formativ.