Property: Arden Englewood Apartments
Developer: Fifield Cos.
Location: Englewood, Colorado
Chicago developer Fifield Cos. has entered the Colorado market with the upcoming Arden Englewood Apartments, a 302-unit, transit-oriented development that started earlier this month in Englewood, Colorado, and is expected to be completed in 2024.
The four-story building will stand on the former Sports Authority headquarters parking lot, which has been vacant since 2016. The exterior, designed by Irvine, California-based architect KTGY, will match the surrounding neighborhood’s aesthetics with stone and metal façade accents, while the ground-floor leasing office, lobby, fitness center and patio will connect directly to the street level. A circle drive will lead to the 440-stall parking garage, which will be located in the building’s center and shielded from the street by the units.
The apartments will range from studios to three-bedroom units, all finished with quartz countertops, stainless steel appliances, custom closets and in-unit laundry. Almost all units will have balconies. Amenities will include a rooftop deck, pool and hot tub, business center and coworking space, according to a press release shared with Multifamily Dive.
The site is located within walking distance of the Englewood Regional Transportation District transit station, which provides access to downtown Denver. Fifield Cos. will contribute to the development of transit station access in the surrounding area, including a “rail trail” along the west side of the building and a cyclist and pedestrian bridge over nearby Hampden Avenue.
Rent growth in the Denver metro stands at 4.6% year over year and -0.5% month over month, according to Yardi Matrix. About 7,400 new apartments went up in the area in 2021, half of 2020’s volume, with another 20,390 in the pipeline, according to a Yardi Matrix study from January 2022.
“Englewood is one of the most connected communities in the Denver area and has been experiencing significant growth in terms of new jobs and new residents, yet multifamily development…has lagged,” said Erin Spears, president of Fifield Cos. “With two RTD light rail stations providing direct service to downtown Denver and Littleton just steps from the building… Arden Englewood will meet the demand for residences that have easy access to the greater Denver area for work and play.”