The Observatory Park/University of Denver submarket is high-end and borders the affluent Cherry Creek and Washington Park neighborhoods, each of which contain an abundance of homes priced in the $1 million range. South University Boulevard is within walking distance, along with its eclectic mix of dining, shopping and nightlife destinations. The site is within a half-mile of the University Light Rail stop, which provides access to many of the city’s key locales, most notably downtown and the Tech Center. I-25 provides convenient access to downtown to the north in addition to the Denver Tech Center to the south, which is the city’s primary business hub to the south that contains 425,000 professional jobs. Modera Observatory Park benefits from a prime location near Interstate-25, the primary north-south thoroughfare of the city. The subterranean garage will contain 332 parking spaces, or 1.02 per bedroom for a community primarily consisting of studio and 1-bedroom homes. Amenities include a resort-style swimming pool, fitness center, leasing office and clubhouse housed in the east building, while the west will include mountain and downtown views and a barbecue area on the podium deck. Modera Observatory Park will offer studio, 1- and 2-bedroom homes with an average of 770 square feet, in addition to four townhomes on the second floor of the west building. The community will operate under the company’s Modera brand name, reflecting its location near the venerable park that borders the area and the University of Denver. The transit-oriented community features 275 apartment homes amongst two 5-story, wood-frame buildings over one podium level and one level of subterranean parking. Mill Creek continues to grow its Denver-area portfolio with the development of Modera Observatory Park, located in the highly desirable University of Denver neighborhood south of downtown.
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