A rendering of the proposed development, called Valor in reference to the area’s past as an Air Force base. (Courtesy Esprit Homes and Wall Custom Homes)
A missing piece of the Lowry neighborhood could begin to fill out early next year.
“It’s got to be the last [developable] site. And I couldn’t think of a better location with the Safeway right there, all the restaurants, everything,” Winston Wall said.
Wall’s 31-year-old homebuilding company, Wall Custom Homes, purchased a 1.2-acre patch of grass at 79 N. Rampart Way in Denver with fellow local firm Esprit Homes in September for $2.87 million, or about $54 per square foot.
The partnership expects to break ground on 20 new townhomes there in early 2026, with the first units coming online two years later.
The property was sold by an entity managed by NAI Shames Makovsky founder Evan Makovsky, who declined to comment on the specifics.
“It took a long time,” he said of getting the property sold.
Makovsky acquired the property through a deed in lieu of foreclosure in 2012 from an entity affiliated with Dallas-based Trammell Crow Co., public records show.
Wall lives down the street and said he has built custom homes in virtually every part of Lowry. Years and years of biking past the empty lot drove him to call Makovsky roughly two years ago to see if he could buy it and build something there.
“Evan said, ‘Well, it’s not that easy,’” Wall recalls.
The property is next to the two-building, 40-unit Luche condo development built by Trammell Crow. A third condo project was planned on the empty lot, but never got off the ground. A newcomer to the site would have to get the blessing of neighboring condo owners to build something other than what was originally proposed.
Wall spent the next 10 months meeting with the neighbors to get their approval. Step one complete. Step two: Find a partner to help finance and build the development.
Winston Wall, left, and Scott Shraiberg pose for a portrait. (Matt Geiger/BusinessDen)
Wall called Scott Shraiberg, president of Esprit Homes, who happily signed on to the project. The two firms have never worked together but have frequently developed projects right next to each other.
The townhomes are expected to cost $27 million to $30 million, with the 3,400-square-foot units starting at $1.5 million.
“Every project, they tell you it’s going to be X and it ends up being more. However … these two guys know how to work numbers and make it work with integrity, and so I’m hoping that we’ll be able to deliver this at that starting point for a pre-sales type thing,” Esprit founder Steve Shraiberg said of his son and his new partner.
Wall and Scott Shraiberg both come from real estate families. They commiserate over summer jobs in their youth breaking concrete and climbing under crawl spaces on their fathers’ construction sites.
“I grew up with my dad’s philosophy,” said Wall, who co-founded his homebuilding company with his brother, David. “If you don’t really understand how a house goes together, then you have to trust someone else to tell you, ‘This is OK.’ And so if you want to live that way, that’s fine, but I wouldn’t ever do that.”
The townhomes will have two decks, with space for a hot tub, grill and fireplace. The 4-story units will also have elevators, aimed at appealing to an older demographic.
“We’re kind of feeling that person is selling their bigger home and moving into this. Everything’s walkable. Maybe they have a place in Phoenix or Florida, a lock and leave,” Wall said.
“They want to be able to go somewhere and see their grandkids. Maybe their kid’s in college now, they’re brand new empty nesters that don’t want all this stuff to take care of. It’s people like that,” Scott Shraiberg said.
“I’m appealing to anybody that’s got net worth,” the elder Shraiberg responded.
A rendering of the proposed development, called Valor in reference to the area’s past as an Air Force base. (Courtesy Esprit Homes and Wall Custom Homes)
A missing piece of the Lowry neighborhood could begin to fill out early next year.
“It’s got to be the last [developable] site. And I couldn’t think of a better location with the Safeway right there, all the restaurants, everything,” Winston Wall said.
Wall’s 31-year-old homebuilding company, Wall Custom Homes, purchased a 1.2-acre patch of grass at 79 N. Rampart Way in Denver with fellow local firm Esprit Homes in September for $2.87 million, or about $54 per square foot.
The partnership expects to break ground on 20 new townhomes there in early 2026, with the first units coming online two years later.
The property was sold by an entity managed by NAI Shames Makovsky founder Evan Makovsky, who declined to comment on the specifics.
“It took a long time,” he said of getting the property sold.
Makovsky acquired the property through a deed in lieu of foreclosure in 2012 from an entity affiliated with Dallas-based Trammell Crow Co., public records show.
Wall lives down the street and said he has built custom homes in virtually every part of Lowry. Years and years of biking past the empty lot drove him to call Makovsky roughly two years ago to see if he could buy it and build something there.
“Evan said, ‘Well, it’s not that easy,’” Wall recalls.
The property is next to the two-building, 40-unit Luche condo development built by Trammell Crow. A third condo project was planned on the empty lot, but never got off the ground. A newcomer to the site would have to get the blessing of neighboring condo owners to build something other than what was originally proposed.
Wall spent the next 10 months meeting with the neighbors to get their approval. Step one complete. Step two: Find a partner to help finance and build the development.
Winston Wall, left, and Scott Shraiberg pose for a portrait. (Matt Geiger/BusinessDen)
Wall called Scott Shraiberg, president of Esprit Homes, who happily signed on to the project. The two firms have never worked together but have frequently developed projects right next to each other.
The townhomes are expected to cost $27 million to $30 million, with the 3,400-square-foot units starting at $1.5 million.
“Every project, they tell you it’s going to be X and it ends up being more. However … these two guys know how to work numbers and make it work with integrity, and so I’m hoping that we’ll be able to deliver this at that starting point for a pre-sales type thing,” Esprit founder Steve Shraiberg said of his son and his new partner.
Wall and Scott Shraiberg both come from real estate families. They commiserate over summer jobs in their youth breaking concrete and climbing under crawl spaces on their fathers’ construction sites.
“I grew up with my dad’s philosophy,” said Wall, who co-founded his homebuilding company with his brother, David. “If you don’t really understand how a house goes together, then you have to trust someone else to tell you, ‘This is OK.’ And so if you want to live that way, that’s fine, but I wouldn’t ever do that.”
The townhomes will have two decks, with space for a hot tub, grill and fireplace. The 4-story units will also have elevators, aimed at appealing to an older demographic.
“We’re kind of feeling that person is selling their bigger home and moving into this. Everything’s walkable. Maybe they have a place in Phoenix or Florida, a lock and leave,” Wall said.
“They want to be able to go somewhere and see their grandkids. Maybe their kid’s in college now, they’re brand new empty nesters that don’t want all this stuff to take care of. It’s people like that,” Scott Shraiberg said.
“I’m appealing to anybody that’s got net worth,” the elder Shraiberg responded.
