This offering provides a rare cornerstone development opportunity in Denver’s next major growth neighborhood—Fox North. Already, Fox North is rapidly redeveloping into a vibrant new neighborhood with several new residential developments already completed. Furthermore, Fox Park anchors the northernmost area of the Fox North neighborhood and is comprised of a 41-acre, $4.6 billion redevelopment with 11 acres of parks, a grocer, nearly 2M square feet of office space, and Denver’s first Virgin Hotel – all of this walkable from the 38th and Huron Project. The Fox North neighborhood is positioned to be Denver’s next high-growth location with its unparalleled access, premier views, and proximity to Denver’s most vibrant cultural hotspots.

While Fox Park anchors the northern side of Fox North, 38th and Huron will anchor the southern, and most visible location of this new neighborhood. The 38th and Huron project offers a true transit-oriented development site located one block from the 41st and Fox Light Rail Station and one stop (5 minutes) from the transit hub of Denver – Union Station.

The project will be built as a 427-unit, 20-story, true Type I cast-in-place high-rise. The Property’s 427 units will be comprised of 129 Studios (21%), 154 traditional one-bedrooms (35%), 44 one-bedroom plus office units (12%), and 88 traditional two-bedrooms (26%). Further, the project will offer an additional unit mix of penthouses and townhomes totaling 12 units or 6% of the total unit mix. These units will be comprised of 7 two-bedroom, two-story townhomes and 5 two-bedroom penthouses.

The introduction of tax increment financing into this project will require that 12% of the units be offered at 70% of AMI, widely regarded as workforce housing units. The TIF will generate approximately $12.1 million in NPV of TIF proceeds over the 22-year period, or an average of $1,115.988 per year over the life of the TIF program. TIF Cash Flow will offset a portion of the annual real estate taxes.