Vertical Construction Begins at 9th & Colorado Project
9th Avenue (Denver) Land, LLC, a joint venture between Continuum Partnersand CIM Group, the developer of the highly-anticipated 9th & Colorado project, a two million square foot urban infillproject spanning 12 city blocks in Denver, announced today that demolition and abatement work has been substantially completed and vertical construction has begun on the first building in Phase 1 of the project, Block 7, located at the northeast corner of 9th Avenue and Colorado Boulevard.
Block 7, a 275-unit residential building with more than 40,000 square feet of ground floor retail, is anticipated to be complete in mid-2018. In addition, construction has started on the utility and roadway infrastructure for the larger 9th& Colorado project. Roads and utilities on the northern half of the site are scheduled to be complete by the end of 2016, with work on the southern half of the site anticipated to be complete in 2017.
“The start of vertical construction is a major milestone for the 9th & Colorado project,” said Frank Cannon, Development Director for Continuum Partners. “Our demolition work is substantially complete and now we’re focused on fulfilling the vision to create a dynamic neighborhood. It’s great to be bringing new buildings up instead of tearing old ones down.”
The site-wide demolition included nearly 2 million square feet of buildings, including the August 2015 implosion of the former Biomedical Research Building. Structures that remain and will be renovated include a 1,000-car parking structure at 11th Avenue and Colorado Boulevard, the former Nurses’ Dormitory building, and the five-story Research Bridge that spans 9th Avenue, which has been fully-gutted and is in preliminary design for adaptive reuse.
Construction has also begun on Ash Street Apartments by Ash Street Affordable Housing, LLC, a joint venture between Koelbel and Company and Mile High Development. This 112 unit affordable housing development is being built on land that 9th Avenue (Denver) Land, LLC recently conveyed to the development to fulfill its vision and commitment to providing affordable housing to the community.
The project’s onsite development office located in the parking structure at 11th Avenue and Colorado Boulevard will open the first week of July. The community is welcome to visit the development office or the new project website atwww.9thandcolorado.com for updates to the project.
When completed, the 9th & Colorado project will comprise approximately two million square feet of new development on 26 acre former University of Colorado Health Sciences Center campus in Denver. 9th & Colorado is designed to complement and connect with the surrounding residential neighborhoods, and promises to be a highly-walkable community, integrating open space and pedestrian amenities with mixed-use residential, retail, and office space.
About Continuum Partners
Continuum Partners, LLC is a progressive development firm specializing in building urban mixed-use developments that create successful pedestrian environments and integrate effectively with the surrounding urban fabric. Founded in Denver, Colorado in 1997 with a deliberate mission to create sustainable human habitats of extraordinary character and enduring value, Continuum Partners has established itself as a national leader in urban, mixed-use, large-scale projects. For more information visit www.continuumpartners.com.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York City, the San Francisco Bay Area, Bethesda, Maryland, and Dallas. For more information, please visit www.cimgroup.com.