SOURCE: Wood Partners

Wood Partners

May 20, 2014 12:39 ET

Alta Alameda Station in Denver's Diverse and Urban Baker Neighborhood Is Nearly Complete

Sustainably Built, Transit-Oriented Apartment Community Across the Street From the Alameda Light Rail Station Is Already 60 Percent Leased

DENVER, CO--(Marketwired - May 20, 2014) -  Wood Partners, L.L.C announced that Alta Alameda Station, a 338-unit LEED Gold-certified community on more than five acres in one of Denver's most dynamic neighborhoods, will be completed in June and is already 60 percent leased. The national multifamily developer currently has three other luxury apartment communities in the Denver metro area under construction.

"Alta Alameda Station adds 338 apartments to a neighborhood that hasn't seen new housing in a decade, bringing 700 or more new residents and restructuring a heavily retail-oriented area," said Tim McEntee, Wood Partners' Director for the Rocky Mountain region. "The success of this project is a reflection of both the great amenities it offers and everything that is going on in the South Broadway neighborhood right now. There's a lot of activity here, and we're benefiting from that. We also think this location adjacent to the light rail is huge for our residents."

Alta Alameda Station, at 275 Cherokee Street in the historic Baker neighborhood west of South Broadway, is directly across the street from the Alameda Light Rail station, which provides rapid access north to downtown Denver and south to the Denver Tech Center. Centrally located with many transportation options, from bike trails to light rail, I-25 to pedestrian-oriented Broadway, Alta Alameda Station is within walking or riding distance of one-of-a-kind bars, restaurants, theaters and shops. The community -- on the site of a former canning facility that provided rations during World War II, a Coors bottling plant and the Denver Studio complex, where 22 Perry Mason movies-of-the-week were filmed -- includes a set-aside route for a bicycle-pedestrian path that connects to the Alameda Light Rail station as well as the Platte River Greenway.

With large, open floor plans, luxury finishes and contemporary amenities, Alta Alameda Station offers a comfortable, modern lifestyle in an older urban neighborhood. The LEED Gold-certified, fully handicapped-accessible community was built with green materials including certified green cabinetry, formaldehyde-free carpet and low-VOC flooring and paint. Ample secure and covered bike parking is available in the garages, and residents have access to a bike repair shop. Electric vehicle-charging stations are available for residents.

"This community was designed and built to attract residents who want the 'Baker lifestyle': pedestrian-friendly urban living with a creative, diverse population and unique living spaces," McEntee said. "Thanks to the city of Denver and its staff for helping us create a high-quality product."

Alta Alameda Station offers a range of studio and one-, two- and three-bedroom units, each with a patio or deck and vinyl plank flooring in entryways, kitchens and bathrooms. Full-size washers and dryers, granite kitchen countertops, hardwood kitchen and vanity cabinets, stainless steel appliances, oval soaking tubs in master bedrooms, walk-in closets and a wireless blue tooth tech package are among the available features.

Community amenities include a state-of-the-art fitness center equipped with free weights, cardio and strength machines, yoga and spin areas and stretching area with flat panel TV displays. A serenity/meditation room, secured parking and storage areas, business/office center with wireless Internet, landscaped courtyard, water features, grilling area with flat panel TV displays, rooftop terrace with indoor/outdoor lounge, a resort-style pool area, dog wash, dog park and bicycle/ski workshop. The project's design team comprises Paul Bergner of Studio PBA, John Norris of Norris Design and Billy Harris of Harris Kocher Smith.

According to the National Association of Home Builders' formula to determine the local impact of multifamily housing in typical metro areas, adding 338 rental apartments will generate $26.7 million in local income, $1.3 million in taxes and other revenue for local governments, and 108 local jobs.

Wood Partners' projects in Colorado include Alta Aspen Grove in Littleton, which opened in 2011; Alta City House, which is currently being constructed next to Union Station; Alta Harvest Station, which is currently under construction in Broomfield; and Alta Cherry Hills in Englewood, which just broke ground in the 4th quarter of 2013.

The company has a policy of green building at all new developments, and Alta Aspen Grove was the first market-rate apartment community of stick frame construction to be certified under Leadership in Energy and Environmental Design (LEED) for Homes in Colorado.

About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. It was ranked the nation's No. 2 multifamily developer in 2012 based on 5,100 unit starts. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the acquisition and development of more than 49,000 homes with a combined value of more than $7.6 billion nationwide. The company currently owns 77 properties with a combined total of 20,200+ units. Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach/South Florida, Boston, Charlotte, Dallas, Denver, Houston, New York, Southern California, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our website, www.woodpartners.com