SOURCE: Wood Partners

Wood Partners

August 25, 2015 16:31 ET

Alta City House in Denver's Union Station/Riverfront Park Neighborhood Is Complete; All 280 Units Open for Lease

Construction Is Complete at LEED Gold-Certified Luxury Development

DENVER, CO--(Marketwired - Aug 25, 2015) - Wood Partners, LLC. is now leasing all 280 apartments at Alta City House, a five-story mid-rise apartment community in the heart of Denver's Union Station/Riverfront Park redevelopment. The $62 million luxury development at 1801 Chestnut St. is complete and already 78 percent leased.

Wood Partners developed Alta City House along with East West Partners, the developer of Riverfront Park and the Union Station neighborhood, and USAA Real Estate Company.

Wood Residential Services, Wood Partners property management division, is managing the property.

"Alta City House is a high-profile project just west of Union Station, at the hub of the Denver metro area's light rail system," said Tim McEntee, director for Wood Partners' Rocky Mountains region. "Overall, we're very pleased with how well it has been received. It's an exciting, high-profile project, and we really amped up the amenities."

Alta City House, which qualified for LEED Gold in the U.S. Green Building Council's certification program, includes one- two- and three-bedroom apartments in a five-story wrap structure with a garage on slightly less than three acres. One-bedroom units range from 645 to 825 square feet; two-bedroom units from 991 to 1,227 square feet; and three-bedroom townhomes are 1,300 square feet. The community includes 1.4 parking spaces for every unit, a much higher ratio than comparable nearby communities.

Residents at Alta City House will have access to a wine locker, two-story fitness center, cyber café, two-story club room, game room, a large roof deck with a year-round outdoor kitchen facility and a striking view of Coors Field. There are two large outdoor courtyards, one with a large pool area and an outdoor fireplace. Wood Partners expects the pool and landscaping to be completed by March.

Wood Partners and East West Partners previously collaborated on the highly successful Glass House high-rise condominium project in Riverfront Park in 2007. In addition, Wood Partners long envisioned the new Alta City House, its third development in the Denver area, as a complementary development. Alta Aspen Grove, Wood Partners' second Denver project, is the first stick-frame market-rate apartment community to be certified under LEED for Homes in Colorado.

Located on a full block between 18th and 19th streets and Chestnut Street, Alta City House is at the base of the pedestrian bridge on 18th Street, within 100 feet of the new light rail station just west of Union Station and just blocks from the new train to Denver International Airport, projected for completion in 2016. The new community is just a few short blocks from the Platte River Greenway's access to more than 120 miles of bike trails.

Wood Partners is leading the construction effort. Paul T. Bergner Associates is the architect; Harris Kocher Smith is the civil engineer; and Norris Design is the landscape architect and land planner for Alta City House.

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 ranks consistently among the top five multifamily developers in the country. 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 53,000 homes with a combined value of more than $8.3 billion nationwide. The company currently owns more than 75 properties with a combined total of 21,000+ units. Wood Partners has offices in 18 major markets nationwide including Atlanta, Austin, Baltimore, Delray Beach/South Florida, Boston, Charlotte, Chicago, 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

About USAA Real Estate Company
With over $12 billion in assets under management, USAA Real Estate Company provides co-investment asset management services to U.S. pension funds, as well as to foreign and domestic institutional investors. USAA Real Estate Company also provides capital to partners for development. The portfolio consists of office, medical office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.

About East West Partners
East West Partners is a family of related but independent companies devoted to building, selling, managing and supporting high-quality real estate in the communities in which they operate. East West Partners was founded in 1986 with the purchase of a piece of land in Beaver Creek. Today, that development is the cornerstone of a portfolio of projects in resort & urban destinations across the United States. East West Partners' development history includes hotels, condominiums, fractional ownership, spas, golf courses, restaurants, retail and clubs. In all, East West Partners has developed more than 60 projects comprising more than $3 billion of residential and commercial real estate. In 2011, one of its signature developments, Riverfront Park, won the ULI Award for Excellence: Americas. To learn more about East West Partners, please visit our website at www.eastwestpartners.com