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COLORADO REAL ESTATE JOURNAL
— March 2-March 15, 2016
by John Rebchook
Legacy Partners has developed
more than 8,000 apartment units
in the Denver area since the 1970s.
But its latest luxury apartment
community at Main and Main in
Denver’s Golden Triangle neigh-
borhood might just be its nicest
yet.
“I think this is going to be a
really superb property,” said
Spencer Stuart Jr., a senior man-
aging director at Dallas-based
Legacy, regarding the seven-story,
322-unit apartment community it
plans on a parking lot at Speer
Boulevard and East 14thAvenue.
“We are really advancing the art
of apartments with this project,”
Stuart said.
“It is going to have a real bou-
tique hotel feel,” he said. “I don’t
think I have ever done a more
amenity-packed apartment proj-
ect in one location before.”
The “full spectrum” of ameni-
ties will include an executive suite
office, and conference and meet-
ing room on the fifth floor; a roof-
top deck and swimming pool; a
demonstration kitchen and wine
storage area; dog grooming area;
state-of-the-art fitness center with
a yoga room; and a game room.
“We will also have a ton of bicy-
cle storage,” Stuart said.
“Denver is a really bike-centric
town. As you know, Denver has
a very large population of bicycle
riders. We will have an area for
repairing and working on bikes,
skis and snowboards.”
Legacy Partners recently paid
Paradise Development, headed
by Buzz Geller, $17.5 million for
the 2.3-acre parking lot.
Legacy, which formed a joint
venture with USAA Real Estate
Co. for the community, was not
represented by a broker in the
transaction.
“We’ve known Buzz Geller for
years,” Stuart said. “This was a
direct deal.”
He said he couldn’t have picked
a better site for a high-end apart-
ment community.
“Inmyworld, whenyoubuild a
rental property like this, you need
to have a really great drive-by
exposure,” Stuart said.
“You have that here not only
along Speer, but also along 14th
Avenue, which is kind of a main
drag for east-west travel,” he said.
“You also want to have a good
walkable area, which we have
here. In fact, you are right across
from the Cherry Creek bike and
walking trail. You could walk all
the way down to Larimer Square
on the Cherry Creek trail, if you
wanted,” he said.
It also is an easy walk to down-
town, aswell as theDenver Public
Library, the Denver Art Museum
and a growing number of restau-
rants and bars.
Jeff Hawks, a broker with ARA
Newmark, wasn’t involved in the
deal but thinks Stuart’s assess-
ment of the site is on target.
“I really like the Golden Tri-
angle,” Hawks said.
“It is a more culturally oriented
part of Denver and doesn’t have
the difficulty of parking you find
in downtown,” Hawks said.
“It is very easy to get in and out
of the Golden Triangle,” he said.
“You also have quick access to I-25
fromColfax.
“Also, we haven’t seen as much
new product being added to the
Golden Triangle compared with
other areas, although it is start-
ing to change, with several new
communities underway,” Hawks
added.
Construction likelywill begin in
August, or perhaps the early fall,
on the community, Stuart said.
It will take two years to build.
“Something as complicated as
Multifamily
Legacy plans this seven-story, 322-unit apartment community in the
Golden Triangle.
