San Francisco- (March 7, 2017) – GID announced today the formation of a joint venture partnership with Mill Creek Residential Trust to develop Modera Cap Hill, a luxury apartment community located in the Capitol Hill neighborhood of Denver, Colorado. Construction is set to begin this spring after the demolition of the existing improvements. The first residences are anticipated to be available in early 2019. This joint venture is the second in Denver and the fourth overall between GID and Mill Creek.
The community, located at the corner of Grant Street and East 12th Avenue, will include 197 apartments in an eight-story building. The property will offer an elevated amenity level which will include a pool, clubroom and fitness center. The property will also feature an 8th floor sky deck, with impressive views of the Denver skyline and mountains. The luxury residences will feature a mix of nine and ten foot ceilings, solid surface countertops in kitchens and baths, stainless steel appliances, and hardwood floors in the living areas.
Matt Stuart, Senior Vice President and Director of Western Region Acquisitions at GID commented, “GID is pleased to begin construction in the desirable Capitol Hill neighborhood. We feel this development will fill a currently underserved need in the submarket for modern rental housing stock. This is a pedestrian friendly location, close to museums, nightlife and CBD employment. We expect this property, once completed, to be a great addition to our portfolio.”