Colorado Real Estate Journal - September 16, 2015
With a prime location at the foot of the 18th Street pedestrian bridge and 100 feet from the new rail station west of Union Station that next year will provide train service to the Denver International Airport, the five-story, 280-unit Alta City House is hard to miss. Renters, with a growing choice of Class A apartment buildings in the Union Station area, certainly have taken notice. Several months after having been completed by Wood Partners, the 280-unit Alta City House is 78 percent leased. The community opened in May, although preleasing started earlier. Rental rates at Alta City House, according to Apartment Insights, an apartment community database by appraiser Cary Bruteig, range from $2.18 to $2.98 per square foot. The building is still classified as being in the lease-up stage. Monthly rents range from $1,320 to $3,000 per month, according to AI. Alta City House, at 1801 Chestnut Place, was developed by Wood Partners and Denverbased East West Partners. East West is the developer of Riverfront Park and, along with Continuum Partners, is a developer of Union Station Neighborhood. USAA Real Estate Co. also is part of the development venture for Alta City House. Wood Residential Services, Wood Partners’ property management division, is managing the property. “Alta City House is a highprofile project just west of Union Station, at the hub of the Denver metro area’s light-rail system,” said Tim McEntee, director for Wood Partners’ Rocky Mountains region. “Overall, we’re very pleased with how well it has been received.” McEntee said. “It’s an exciting, high-profile project, and we really amped up the amenities.” Alta City House is LEED Gold certified by the U.S. Green Building Council. It includes one-, two- and three-bedroom apartments in a five-story wrap structure with a garage on slightly less than three acres. One-bedroom units range from 645 to 825 sf; two-bedrooms from 991 to 1,227 sf; and three-bedroom townhomes are 1,300 sf. The community includes 1.4 parking spaces for every unit, a higher ratio than many comparable nearby communities. Residents at Alta City House have access to a wine locker, two-story fitness center, cyber café, two-story clubroom, game room, a large roof deck with a year-round outdoor kitchen facility and a striking view of Coors Field. There are two large outdoor courtyards, one with a large pool area and an outdoor fireplace. Wood Partners expects the pool and landscaping to be completed by March. Wood Partners and East West Partners previously collaborated on the highly successful Glass House high-rise condominium tower in Riverfront Park in 2007. Alta City House is the third apartment community developed by Wood Partners in the Denver area. Paul T. Bergner Associates was the architect for Alta City House. Harris Kocher Smith was the civil engineer and Norris Design was the landscape architect.