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Page 8 — COLORADO REAL ESTATE JOURNAL — February 18-March 3, 2015
Batson-CookDevelopment Co.
Records show SkyHouse
received a $65.49 million construc-
tion loan from JPMorgan Chase.
Borders said he found the site
through the land seller, which
Novare had done deals with in
the past.
SkyHouse will include about
6,900 square feet of retail. The
retail will be along Broadway and
Lincoln, according to plans sub-
mitted to the city.
“We are excited to be work-
ing with Simpson Housing and
Batson-Cook Development to add
SkyHouse Denver to the fabric of
downtown,” said Borders.
“Denver has tremendous
momentum, including a strong
economy and burgeoning down-
town residential market,” Borders
said.
“The Mile High City has been
on our radar for several years and
we are thrilled to have an excel-
lent location that fits perfectlywith
what our residents want.”
Most of the luxury apartment
construction in the Denver area
has been near Union Station, the
Ballpark neighborhood and in
adjoining neighborhoods, such as
Jefferson Park and Lower High-
land, as well the Golden Triangle.
“We think this location in
uptown serves as an untapped
market due to its convenience to
the office employment base,” said
Borders.
“We believe residents will enjoy
the Denver Art Museum as well
as Denver’s many green space
offerings including City Park,” he
continued.
Novare also said the site pro-
vides direct access to MetroRide
as well the 16th Street MallRide,
all of which provide direct access
to Union Station.
“Light rail is also located nearby,
which will allow our residents to
access many of the major employ-
ment centers in the Denver
region.”
JP Morgan and U.S. Bank are
providing construction financing
and Simpson Housing, Batson-
Cook Development Co., and NGI
Investments LLC, led by Borders,
are providing equity.
Batson-Cook Construction and
Swinerton Builders are the general
contractors.
The building is designed by
Smallwood, Reynolds, Stewart,
Stewart andAssociates.
The apartment homes will all
have 9-foot ceilings with floor-to-
ceiling glass, quartz counter tops,
hardwood floors, stainless steel
appliances and porcelain tile.
The average sized unit will be
about 788 sf. It will include stu-
dios, one bedrooms and two bed-
rooms with dens.
The rents will be competitive
with other new luxury apartment
communities in Denver.
In addition to the SkyHouse
amenity deck, the SkyHouse Den-
ver will have vehicle charging
stations, bike storage, an outdoor
kitchen, adogwalk area andadog
washing station.
Thesustainablebuilding isbeing
built to Energy Star standards.
“Environmental consciousness
is an important consideration
in the design, construction and
operations of all of our buildings,”
Borders said.
The Energy Star certification
addresses energy-efficient lighting
systems, efficient mechanical sys-
tems and comprehensive testing
throughout the project.
“We also offer residents a mul-
titude of environmental focused
programs such as a comprehen-
sive recycling, electric charging
stations for vehicles as well bike
storage and repair facilities,” Bor-
ders said.
The development also will
include a free-standing, 488-space
parking garage on Lincoln with
two levels below grade and five
above, according to plans submit-
ted to the city.
Before it was a surface park-
ing lots, the site was home to the
“stately Cosmopolitan Hotel and
the Hotel Metropole before they
were demolished in 1984,” Schro-
eppel noted.
The tower, he said, should con-
tribute to the “ongoing restoration
of downtown Denver’s urban
fabric.”s
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A photo of the Cosmopolitan Hotel that once stood on the site