Colorado Real Estate Journal - December 7, 2016
Boulder Junction Rowhomes are all about family. The 32-unit rental community scheduled to break ground early next year will feature three- and four-bedroom units with garage parking, and a common courtyard and green space. “There’s nothing like it in Boulder,” said Don Caster of Denver-based Sagebrush Cos., which is partnering with Greenius LLC to develop the row houses at 30th and Bluff streets. Units will average 2,400 square feet, compared with Boulder’s average apartment size of approximately 800 sf. There also will be four corner commercial spaces along 30th Street for a coffee shop, bagel shop or other retail uses. With much of Boulder’s housing stock consisting of older product, or new, smaller apartment units or condominiums, “There are not a lot of really new family homes,” said Caster. “This is designed for families,” he said, explaining parents can drive up, enter their homes from their garage and play with the kids in the “backyard” – a central gathering spot with a courtyard, paseo, green space and mini soccer field. Boulder Junction Rowhomes recently received city approval. Sagebrush expects to have building permits by the end of the year and start construction early next year. Units will be delivered in early 2018. Except for two-story residences above the retail, all the units will be three stories. Rents are expected to average around $5,000 per month. Jeff Dawkins Architect designed the brownstone-style community, which will consist of four net-zero-energy buildings situated on approximately 1.9 acres. The buildings will have solar panels, quick-recovery hot water heaters and other energy-efficiency features. The construction-only cost is estimated at about $15 million. Residents will have access to the city’s transit hub at Boulder Junction, and proximity to Whole Foods, the Twenty Ninth Street shopping area and other amenities. Sagebrush Cos. focuses mostly on infill multifamily developments in Denver and Boulder. Caster said the company loves the Boulder market and hopes to develop additional projects in the city. It is in the early planning stages for a 50-room, three-story boutique hotel immediately south of the rowhomes that would be part of its Carmen Hotel brand. It also is planning Boulder Industry & Arts Center in east Boulder.