Courtesy Meeks Partners
Development giant Greystar and its joint venture equity partner, Origin Investments, have announced plans for what will be downtown Colorado Springsâ largest apartment community.
The $96.1 million, six-story Elan Pikes Peak is Greystar s first foray into the local market.
Under construction at 400 E. Pikes Peak Ave., the 321-apartment complex is slated for completion mid-2023 and will offer market-rate rents starting at $1,400. Â
âWe are attracted to downtown Colorado Springs for a growing number of reasons and are thrilled to introduce this new community,â said Bo Chapman, managing director of development at Greystar.
âThe current supply of high-quality residences in the urban center does not meet the demand of the growing population of motivated, outdoor enthusiasts seeking the lifestyle Colorado Springs â and our new community â has to offer.âÂ
A Colorado Springs apartment complex has sold for a record price to a Denver-area group, another sign that out-of-town investors remain upbeat about the city’s red-hot multifamily market.
Blueline Equity Partners recently purchased the 91-unit Overlook at Mesa Creek for $27.3 million, El Paso County land records show. The complex, southwest of Centennial Boulevard and Fillmore Street on the northwest side, opened two years ago.
The $299,835 per-unit price for Overlook at Mesa Creek is believed to be the highest ever paid for an apartment property of more than 50 units, according to Goodwin Knight, a Colorado Springs development company that built the complex, and All Pro Capital, a local investment firm that financed it.
A Colorado Springs apartment complex has sold for a record price to a Denver-area group, another sign that out-of-town investors remain upbeat about the city’s red-hot multifamily market.
Blueline Equity Partners recently purchased the 91-unit Overlook at Mesa Creek for $27.3 million, El Paso County land records show. The complex, southwest of Centennial Boulevard and Fillmore Street on the northwest side, opened two years ago.
The $299,835 per-unit price for Overlook at Mesa Creek is believed to be the highest ever paid for an apartment property of more than 50 units, according to Goodwin Knight, a Colorado Springs development company that built the complex, and All Pro Capital, a local investment firm that financed it.
Greystar and Origin Investments Announce Plans for $96 1 Million 321-Unit Elan Pikes Peak Apartments in Colorado Springs multifamilybiz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from multifamilybiz.com Daily Mail and Mail on Sunday newspapers.
Key segments of Colorado Springs’ real estate market and the city’s downtown remain relatively healthy in the face of the continuing COVID-19 pandemic, yet will continue to confront challenges in 2021, according to four industry experts.
Their mostly positive outlook for the local market was presented Thursday during the 30th annual real estate and economic forecast hosted by the Colorado Springs chapter of the Institute of Real Estate Management, an industry group. The event typically takes place in front of a few hundred people during a morning breakfast; because of the pandemic, however, this year’s forecast was held virtually via Zoom.