DENVER – Denver is quickly growing and the housing supply has struggled to keep up with demand, sending prices higher with every passing month.
Downtown Denver is currently seeing a flurry of new developments, much of it residential. While the new construction won’t immediately solve the city’s affordability problem, it could relieve some pressure in the market.
More than a dozen residential developments are currently underway, promising to add more than 4,300 new units over the next couple years, according to the Downtown Denver Partnership.
The Golden Triangle, Arapahoe Square and Union Station/Central Platte Valley areas are seeing the bulk of new construction. In the Golden Triangle alone, three developments will add nearly 1,000 apartments.
Here are some of the larger projects that are currently under construction:
Alexan 20th Street Station
Construction started about a year ago on the 12-story Alexan 20th Street Station apartment building. When it’s completed in fall 2018, the building will have 354 units with an average size of 783 square feet.
Alexan Arapahoe Square
The same developer behind Alexan 20th Street Station is building Alexan Arapahoe Square a couple blocks away. The 13-story building will have 355 units and is expected to be completed in August 2018, with the first residents moving in at the end of the year.
The tallest of the residential developments currently under construction, The Confluence rises 35 stories over Confluence Park, where Cherry Creek and the South Platte River converge. The building has 287 luxury apartments, ranging from studios to 3-bedroom units.
One of only a few condominium developments being built in Denver right now, The Coloradan will have 334 condo units, 33 of which will be “affordable.” Prices will start at $250,000 and the building is expected to be completed in the fall of 2018.
Parq on Speer
The 16-story Parq on Speer is one of several buildings that together will add nearly 1,000 units to Denver’s Golden Triangle neighborhood. Parq will have 302 residential units, plus ground-level retail anchored by a grocery store and coffee shop.
This 28-story mixed-use building is located at 17th and Curtis streets in the Central Business District. Plans call for 359 luxury apartments, with nearly 17,000 square feet of retail along Curtis Street. A rooftop deck will include a swimming pool that hangs over the building’s edge.
TriVista on Speer
Situated on the block bounded by Speer, Fox Street and 13th and 14th avenues, the 7-story TriVista on Speer will have 322 apartments and 446 parking spaces when it’s completed. Unit sizes range from 592 square feet up to 1,819 square feet.
The downtown core also is seeing a number of large commercial and hotel projects, with more than 1,000 hotel rooms and 1.5 million square feet of office space coming down the pipeline in coming years.
Not including proposed projects, a total of 30 developments representing more than $2 billion in investments are currently under construction, according to the Downtown Denver Partnership.