Draper and Kramer, Koelbel and Co., Mile High Development, and Urban Roots Development have broken ground on Tempo Nine Mile, a new multifamily project at Nine Mile Station in Aurora, Colorado. The 255-unit project, which was made possible through a partnership with the city of Aurora and the Aurora Urban Renewal Authority, is part of the 22-acre Point at Nine Mile master plan.
The development is adjacent to the future pedestrian bridge that will connect The Point at Nine Mile to the Regional Transportation District's Nine Mile Station and the Cherry Creek Reservoir.
“As we continue to expand our firm’s national footprint, we are focused on opportunities presented by dynamic metro areas like Denver that demonstrate robust growth metrics and high demand for quality rental options,” says Todd Bancroft, president and CEO of Draper and Kramer.
“We are thrilled to be entering the Denver market with Tempo Nine Mile, which benefits from years of excellent planning and execution by the city of Aurora, Koelbel, and Mile High for The Point at Nine Mile master plan. We’re proud to be part of such a strong project team and contributing our own expertise from our decadeslong track record delivering successful multifamily communities in a variety of markets and locations.”
The five-story building will offer a mix of one- to three-bedroom units, ranging in size from 542 to 1,321 square feet with 3,000 square feet of ground floor retail. Featuring a large outdoor pool, a community room, a state-of-the-art fitness center, a bike room, and a rooftop party deck, the property’s easy access to Cherry Creek State Park will appeal to future residents seeking an active lifestyle.
Brinkmann Constructors is the general contractor, and KTGY is the project architect. Catering to individuals and families working at Fitzsimons, Denver Technological Center, Cherry Creek, and downtown Denver, Tempo Nine Mile represents the continuation of a long-time partnership between Koelbel and Co. and Mile High Development.
“Seven years ago George Thorn and I embarked on a journey with Aurora to redevelop the dilapidated shopping center at Parker and Peoria,” says Carl Koelbel, chief operating officer of Koelbel and Co. “After years of planning and infrastructure work, we are excited to finally begin construction on a substantial market-rate community that will signal its transition into a true transit-oriented development.”
In its second phase, The Point at Nine Mile Station is a master plan at the former site of Regatta Plaza. So far, the project has opened a King Soopers store and gas pad and associated retail including Key Bank, Pacific Dental, and a soon-to-open IHOP. The Point Crossing, a 63-unit income-restricted workforce housing project adjacent to Tempo Nine Mile, is also expected to open.
“This project marks the next phase of urban redevelopment and placemaking at this key Aurora gateway," says Andrea Amonick, manager of the Aurora Urban Renewal Authority. "Upon its completion, The Point at Nine Mile Station will be another example of transit-oriented development that provides our community with a walkable location to live, work, and play.
"Combined with on-site retail, market-rate and affordable housing in progress, and a pedestrian bridge coming soon, the city is delighted to support the continued redevelopment of the former Regatta Plaza shopping center into an exciting mixed-use destination."
The project is being financed by a HUD Section 221(d)(4)-insured loan originated by PGIM Real Estate.