In a highly competitive apartment market, downtown Denver’s latest offering is Skyline 1801, an 11-story tower across from the Ritz-Carlton Denver.
The
Broe Group spent $11 million renovating the building at 18th and Arapahoe Streets, adding 144 apartments designed to lure young professionals ages 25 to 32 downtown.
“We have worked hard to design and create a vibrant, high-quality space that is fun and engaging in an incredible Denver location,” says David Wedmore of the Broe Group.
Skyline 1801 is dog and bicycle friendly, with a special dog yard and dog wash on site, as well as a “Pela-room” for bicycle maintenance.
The apartments will feature granite countertops in both the kitchens and bathrooms, as well as washers and dryers.
Skyline 1801 serves as a gateway to Arapahoe Square, a cornerstone of Denver’s Downtown Area Plan completed in 2007. Arapahoe Square, northeast of downtown, is bordered by 20th and 24th Streets, and Lawrence and California Streets.
The goal is to redevelop Arapahoe Square as a cutting-edge, densely populated mixed-use area that provides a range of housing types and a center for innovative businesses.
Skyline 1801 is coming to the market at a time when apartment vacancies are at the lowest they’ve been since 2001, when they hit 4.9 percent. Metro Denver’s apartment vacancy rate fell to 4.8 percent in the second quarter this year, unchanged from the vacancy rate for the same period last year, according to a report by the Apartment Association of Metro Denver and the Colorado Division of Housing.
Apartment rents also are surging, increasing 7.1 percent from the second quarter last year to an average of $979.
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