New 20-story building coming to Denver’s Globeville neighborhood near Fox Park

A new 20-story apartment building is planned for the Globeville neighborhood near Denver’s emerging Fox Park neighborhood, according to plans submitted early last month to the city by Architectural Workshop, an architecture group, design and planning based in Denver.

The project, West 39th Avenue and 3901 Elati St., will include an approximately 125,000 square foot garage with a total of 323 parking spaces, 417 units ranging from studios to one- and two-bedroom apartments and nearly 20,000 square feet squares of parking space. amenity space dispersed throughout the building.

Although the property is still in the design phase, residents can expect amenities such as community spaces, a fitness center and an elevated park on the seventh floor, according to Isiah Salazar, president of Central Street Capital, Inc., a private investment management company. based in Denver who works on development.

“We are very excited about the potential of this project,” Salazar said. “We’re just very optimistic and excited about this neighborhood. We believe this is one of the last large pockets of the Denver metro area that has yet to realize its full potential.

Conceptual plans also reveal that the building is designed to capture views of downtown Denver and the mountains to the west, while focusing on maximizing sunlight in the elevated park.

The building will include a ground floor dedicated to the lobby and some amenities, a five-story parking garage above and 14 stories of multi-family residential units.

Of the 417 apartments, more than 70% will be studios, according to conceptual plans for the project.

According to project details, the units will not be 100% affordable housing. However, Salazar said he recognizes there is a huge need for accessible housing for people still moving to Denver.

“We would appreciate the opportunity to continue to work with the City of Denver to determine what percentage of units we would have been labeled for a certain AMI (area median income) level,” he said.

Founded in the late 1990s, Central Street Capital Inc. invests in real estate development projects, student housing, health care companies and operating businesses in various industries.

The company has been behind several notable projects, including the 4 Mile District, a 10-acre entertainment venue in downtown Glendale, Denver’s Assembly Student Living, and the upcoming 4040 Fox Street Apartments, which, according to Salazar, will be completed by the end of August this year.

Receive more business news by subscribing to our Economy Now newsletter.

Originally published: January 6, 2025 at 1:18 p.m. MST