Dive Brief:
- At 533 residential units and 93 hotel rooms, Skyline at Highlands — which celebrated its grand opening in Denver last month — is the largest apartment property built in Colorado since 2002, according to a press release shared with Multifamily Dive.
- During the opening, Denver-based developer Grand Peaks also announced that it had partnered with the Denver Public Schools Foundation, the fundraising partner of Denver’s public school system, to donate 10 apartments at Skyline at Highlands to two sets of Denver teachers over the next two years.
- Each of the educators, whom the DPS Foundation will select through a drawing, will be provided with a rent-free lease for one year.
Dive Insight:
Over the past eight years, only six other apartment properties in Colorado have been built with 465 apartments or more, according to Grand Peaks. They include:
- Sentral Union Station in Denver, built in 2017 with 579 units.
- Country Club Towers II and III in Denver, built in 2017 with 558 units.
- Avra at RidgeGate Station in Parker, built in 2023 with 540 units.
- Novel Rino by Crescent Communities in Denver, built in 2023 with 483 units.
- MAA Promenade in Westminster, built in 2017 with 481 units.
- Parkhouse Apartments in Thornton, built in 2016 with 465 units.
“There are a variety of contributing factors that make developing a project of this scale a bit difficult,” said Elli Lobach, senior vice president of development at Grand Peaks. These include finding the right zoning to allow for high unit counts, lining up financing, absorbing bigger risks and dealing with larger timeframes required for design and entitlement.
Developed by Denver-based Grand Peaks and New York City-based investor Access Industries, the $270 million property incorporates sections of varying heights, ranging from low-rise structures oriented to a nearby residential neighborhood to high-rise apartment towers on the north end, facing the city.
The overall modern design, mixing white and deep blue paneling, is inspired by the work of 20th century Dutch abstractionist painter Piet Mondrian, according to the website of Oz Architecture, the project’s architect.
The units range from studios to two-bedrooms, and offer stainless steel appliances, high-end interior finishes, in-unit laundry and smart home features. Rents start at $1,724.
Amenities at Skyline include a sky lounge, a dog park, a fitness center, a pool and hot tub, a game lounge, music room and movie room, outdoor activity equipment rentals, coworking space and concierge services through a partnership with Denver-based service company Experiential Living. The hotel, Sonder at Skyline, offers furnished apartment-style accommodations on site.
