Colorado Real Estate Journal - April 6, 2022
DENVER – A Minneapolis headquartered development firm broke ground on a 280-unit apartment building in Denver’s Lincoln Park neighborhood. The Opus Group is underway on Kalaco Apartments at 1010 W. Colfax Ave., adjacent to the Auraria Campus. Upon completion in March 2024, the property will offer studio, one-, two- and three-bedroom apartments, 10% of which will be designated affordable housing for those earning 60% to 80% of the area median income. There also will be several live/work units, allowing residents to operate a small business on the first floor. Community amenities at the seven-story building will include a clubroom, multilevel fitness center, pool, outdoor yoga area, multiple grilling stations, indoor-outdoor community fireplaces, a dog grooming area and an on-site dog run. There will be vehicle parking in an attached two-level parking ramp, and ski and bicycle storage rooms also will be available to residents. Additionally, the property will feature a 2,100-square foot first-floor coworking space and 9,400 sf of street-level retail, which Opus anticipates will include a sit-down restaurant, a quick-service restaurant, and a mix of other service providers and retail outlets. A retail leasing team is expected to be named in the coming weeks. According to Opus representatives, the project has received positive feedback from the surrounding community, particularly in terms of addressing the need for affordable housing in the area. The neighborhood also has shown support for the scale of the project given its location, representatives added. “We are very excited to deliver much-needed housing and retail to this vital corner that is just two blocks from the Art District on Santa Fe," said Joe Swensson, senior manager of real estate development at Opus. “We view Kalaco Apartments as the gateway to the Art District on Santa Fe and the La Alma/Lincoln Park community. Early in the project, the development team met with the local neighborhood organization on numerous occasions to establish a collaborative relationship with all stakeholders. It was important for Opus to create a project that will have a positive impact on the local community, which is why we are including affordable housing, live/work units, and neighborhood-serving retail."