Aurora, Colo. - (March 05, 2024)
Transit-adjacent mixed-use project at Nine Mile Station poised to help meet demand for residential options in burgeoning The Point at Nine Mile master plan development
A joint venture of Draper and Kramer, Incorporated, Koelbel and Company, Mile High Development and Urban Roots Development, Inc., today announced that Tempo Nine Mile, a new 255-unit multifamily development at the northeast corner of Parker Road and Peoria Street in Aurora, Colo., has topped off. The project is part of the 22-acre The Point at Nine Mile master plan development.
“The significant milestone of topping off Tempo Nine Mile brings us one step closer to delivering a new option for the level of rental living that is much in demand – yet not widely available – in this dynamic area,” said Todd Bancroft, president and CEO of Chicago-based Draper and Kramer. “With walkable grocery, restaurant, retail, entertainment and recreational offerings within a short distance of the property, we’re excited to see this already-thriving district reach its full potential as a vibrant live-work-play community for individuals and families.”
Tempo Nine Mile is a five-story market-rate rental property located adjacent to the future pedestrian bridge that will connect The Point at Nine Mile to the Regional Transportation District (RTD)’s Nine Mile Station and the Cherry Creek Reservoir. Upon completion, the mixed-use building will offer one- to three-bedroom units, ranging in size from 542 to 1,321 square feet, and 3,000 square feet of ground floor retail. The property is highly amenitized, featuring an outdoor pool and landscaped courtyard, community room, bike-ski-kayak room and rooftop fitness center and party deck.
With its transit-adjacent location, Tempo Nine Mile will cater to individuals and families working at Fitzsimons Medical Campus, Denver Technological Center, Buckley Space Force Base, Cherry Creek and downtown Denver. The property’s proximity to nearby 4,000-acre Cherry Creek State Park – which is directly accessible via pedestrian bridge – will appeal to future residents seeking an active lifestyle.
Pre-leasing for Tempo Nine Mile is expected to begin this summer, with first deliveries and move-ins anticipated in the fall.
KTGY Architects is the project architect, and Brinkmann Constructors is the general contractor. The project is being financed by a HUD 221 d4 insured loan originated by PGIM Real Estate.
The Point at Nine Mile Station is a master plan at the former site of Regatta Plaza, a 22-acre parcel in its second phase. To date, the project has seen the opening of a new King Soopers store and gas pad, and associated retail including tenants such as Key Bank, Pacific Dental and an IHOP restaurant. In late 2022, Mile High Development opened The Point Crossing, a 63-unit income restricted workforce housing project adjacent to Tempo Nine Mile. Additionally, the city of Aurora will soon begin construction on a pedestrian bridge across Parker Road connecting The Point to Nine Mile Station, which is slated to open next year.
In addition to Tempo Nine Mile, Draper and Kramer’s presence in the Denver market includes its 2023 acquisition of The Wright, a 203-unit new-construction multifamily property at 6465 S. Xanadu Way in Centennial. Draper and Kramer’s diversified multifamily portfolio includes 20 properties across Chicago, Dallas, Denver, Phoenix and St. Louis.
About Draper and Kramer, Incorporated
Founded in 1893, Draper and Kramer, Incorporated is a trusted financial and property services provider with a deep commitment to people, excellence, service and integrity spanning more than 130 years. Family-owned and one of the leading privately held real estate services firms in the U.S., Draper and Kramer is headquartered in Chicago with a national reach and broad offering of services. The company’s decades-long heritage has evolved over the years and today spans expertise in residential and commercial development, acquisition, property management and leasing; and debt and equity financing for commercial properties. Draper and Kramer provides a single source of real estate-related counsel to a diverse group of real estate investors across the U.S., including corporations; private and institutional owners and users of real estate; government agencies; and foundations. For more information, visit www.draperandkramer.com.
About Koelbel and Company
Founded as a residential brokerage company in 1952 and now a full-service real estate company with developed properties spanning from Vail and Winter Park to Louisville and Denver, Koelbel and Company has helped change the face of the Centennial State. Now in its third generation, the family owned Koelbel and Company continues to place its indelible mark on the Colorado landscape with developments that blend ageless values with pacesetting design. For more information visit www.koelbelco.com.
About Mile High Development
Mile High Development is a veteran of large scale mixed use projects including Colorado Center, a $100 million mixed use project at I-25/Colorado Blvd. in central Denver which launched its first phase in 1986 and completed the second and third of the ultimate six phases in 1999. Mile High Development was also the Developer of the Wellington E. Webb Municipal Office Building in downtown Denver, a $200 million, 700,000 square foot Class AA office building developed for the City and County of Denver in 2001. Mile High Development was the Co-Developer of the $100 million Co-Development Project in concert with the Denver Art Museum expansion project, which included the 980 space Cultural Center Garage; the 55-unit Museum Residences condominium/mixed use project that was completed in 2007, and the 165 room ART Hotel which opened in July 2015. For more information visit www.MileHighDevelopment.com or www.FB.com/MileHighDevelopment
About Urban Roots Development
Urban Roots Development, Inc., was founded as a flexible and innovative platform for crafting urban, mixed-use, sustainable, outside-the-box development projects. The company was built on a commitment to delivering projects that demonstrate enduring value, environmental stewardship, compelling investment returns and a high-quality of life for residents and occupants. For more information, please visit www.urbanrootsdevelopment.com.
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Editors:
For more information, contact Jeremy Barewin, [email protected], (312) 267-4533.
Media Coverage:
Tempo Nine Mile, a new five-story mixed-use development, has topped off at the northeast corner of Parker Road and Peoria Street in Aurora, Colo. The project is a joint venture of Chicago-based Draper and Kramer, Incorporated, Koelbel and Company, Mile High Development and Urban Roots Development, Inc.
