The property is currently home to a small office building and warehouse. (Matt Geiger/BusinessDen)
Add 2534 18th St. to the list of proposed LoHi apartment developments.
Greenwood Village-based Infinity Properties last week proposed building a nine-story, 132-unit apartment building on the 0.43-acre lot.
Infinity executive Regan Schmergel called the plans “somewhat preliminary” in an email and said he won’t have clarity on the project’s timeline until later in the development process.
Schmergel’s firm purchased the property in May for $5.3 million, or $277 per square foot, from local developer Mike Mathieson, who had once planned to build a 116-unit hotel that would be leased to San Francisco-based Sonder.
The lot in question is currently home to a pair of older warehouse and office buildings surrounded by parking.
Public records say Infinity’s current thinking is to start construction by November 2026. The building would have six floors of apartments and a rooftop pool above a three-story parking podium, which would also incorporate 675 square feet of retail space.
The plans come at an interesting inflection point for the metro’s apartment market. Citywide vacancy stands at 7%, according to the most recently quarterly report of the Apartment Association of Metro Denver. That’s an entire percentage point higher than the same time last year. Rents, meanwhile, have dropped to levels not seen in three years. The citywide average for a one-bedroom unit is $1,659 per month.
Nevertheless, numerous apartment projects have been proposed in LoHi.
San Antonio, Texas-based Kairoi proposed a five-story, 465-unit complex on 4 acres at 2777 N. Zuni St., where a Residence Inn currently operates. Next door is 2800 Speer Blvd., where San Francisco, California-based Carmel Partners wants to build 189 units across two five-story apartment buildings. One block away, between 29th Avenue and Speer Boulevard, private investment firm Pagewest has proposed a 293-unit apartment complex.
Nearby, longtime LoHi resident Marcia Mueller hoped to build a four-story, 35-unit apartment building on the corner of Umatilla Street and 29th Avenue. But she recently listed the site for sale.
The property is currently home to a small office building and warehouse. (Matt Geiger/BusinessDen)
Add 2534 18th St. to the list of proposed LoHi apartment developments.
Greenwood Village-based Infinity Properties last week proposed building a nine-story, 132-unit apartment building on the 0.43-acre lot.
Infinity executive Regan Schmergel called the plans “somewhat preliminary” in an email and said he won’t have clarity on the project’s timeline until later in the development process.
Schmergel’s firm purchased the property in May for $5.3 million, or $277 per square foot, from local developer Mike Mathieson, who had once planned to build a 116-unit hotel that would be leased to San Francisco-based Sonder.
The lot in question is currently home to a pair of older warehouse and office buildings surrounded by parking.
Public records say Infinity’s current thinking is to start construction by November 2026. The building would have six floors of apartments and a rooftop pool above a three-story parking podium, which would also incorporate 675 square feet of retail space.
The plans come at an interesting inflection point for the metro’s apartment market. Citywide vacancy stands at 7%, according to the most recently quarterly report of the Apartment Association of Metro Denver. That’s an entire percentage point higher than the same time last year. Rents, meanwhile, have dropped to levels not seen in three years. The citywide average for a one-bedroom unit is $1,659 per month.
Nevertheless, numerous apartment projects have been proposed in LoHi.
San Antonio, Texas-based Kairoi proposed a five-story, 465-unit complex on 4 acres at 2777 N. Zuni St., where a Residence Inn currently operates. Next door is 2800 Speer Blvd., where San Francisco, California-based Carmel Partners wants to build 189 units across two five-story apartment buildings. One block away, between 29th Avenue and Speer Boulevard, private investment firm Pagewest has proposed a 293-unit apartment complex.
Nearby, longtime LoHi resident Marcia Mueller hoped to build a four-story, 35-unit apartment building on the corner of Umatilla Street and 29th Avenue. But she recently listed the site for sale.
