- Confluence begins construction of luxury apartments in Louisville.
- U.S. Bank is financing $35.5 million development.
- North Main Apartments at Steel Ranch is walking distance to the historic downtown.
A local developer today announced it has started construction of a 228-unit, resort-style apartment community in Louisville.
The $35.5 million luxury community is called North Main Apartments at Steel Ranch and is being developed by the Golden-based Confluence Cos.
The first units in the resort-style community developed by the Golden-based Confluence Cos., will be delivered this summer. Average monthly rents will be $1,325.
U.S. Bank provided the $26.5 million construction loan.
Louisville is a natural place to build a first-class apartment community, said Tim Walsh, principal of Confluence. Money Magazine, for example, rated Louisville as the No.1 small town to live in 2011.
“North Main Apartments is within walking distance of historic downtown Louisville and the future light-rail station,” Walsh said. “It’s just 10 minutes to major employment centers including Boulder and Interlocken and 25 minutes to downtown Denver and DIA.”
Andrew Hyde, vice president of commercial real estate at U.S. Bank, said the bank is very selective when making loans on project and to developers.
“We believe in Confluence,” Hyde said. “We focus on who is executing a project, and the better developers are picking better locations. Confluence has demonstrated it will be a very successful long-term developer in this market.”
Residents will enjoy resort-style amenities at North Main Apartments, including a 5,000-square-foot clubhouse featuring a state-of-the-art fitness center, yoga and Pilates studio, hospitality lounge area with an indoor/outdoor bar area, cyber cafe, business center and a chef-inspired kitchen.
Outdoor amenities include a year-round, 25-yard lap pool, outdoor fire pits, pet washing and bike maintenance facilities and BBQ grills in a park-like setting. The community also includes biking and walking trails and open space.
The project will be sustainably designed and built to consume less energy, provide a healthier living environment and reduce consumption of scarce resources. Residents are projected to consume 30 percent less energy in their homes than a typical apartment.
“Our goal is to provide our residents with luxury apartment homes thoughtfully designed with exceptional quality at a great value to perfectly fit with their active lifestyles,” Walsh said. “The ideal location, state-of-the-art amenities, gourmet kitchens with granite countertops and quality construction that makes for quiet living will be unmatched in Boulder County.”
The project will include:
- 108 one-bedroom units averaging 780 square feet.
- 108 two-bedroom units averaging 1,000 square feet.
- 12 three-bedroom units averaging 1,300 square feet.
The development also includes two parking spaces per unit, with 275 of them covered and 181 on a surface lot.
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