Retail will be an attractive component of the Shops and Apartment at Observatory Park, an 11-story, mixed-use building under construction across from the University of Denver, its developer said on Friday.
The project, being developed by Urban West Group will include 25,000 square feet of retail space and 100 parking spaces. The project is set to open in early 2013.
There is a growing demand for retail space and parking in the area, said Dave Elowe, of the Urban West Group., a Denver-based developer of multi-family and retail space.
“With construction underway, we’re beginning to see a great deal of interest in the retail space from both local and national restaurants, shops, stores and boutiques who want to explore the opportunity of being located near the University of Denver in a neighborhood with an upper-middle class demographic,” Elowe said.
“Much of the demand for tenant space is coming from restaurants, both national chains and locals. However, we are getting good demand from some other non-food users. We have 25,000 SF of retail space that can be combined or subdivided into almost any configuration.
“We spent a great deal of time listening to and working with the community and the university, and we’re confident that the Shops and Apartments at Observatory Park will be delivering exactly what they asked for.”
He said they are in the early stages of marketing the retail space.
The Class-A apartment community will feature many of the same amenities found in some of Denver’s luxury condo projects, including a pool and spa, outdoor fire pits, barbecue and lounge areas, a fitness center and quality interior finishes including 10 foot ceilings, in-unit washers and dryers, granite countertops, wood floors, ceramic tile, stainless appliances and balconies. It is the first market rate apartment building being built within a two-mile radius of the University of Denver campus in approximately 30 years.”
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