University of Colorado Health Sciences Center is coming back to life! This is the first new development on the former CU Campus as Phoenix-based Alliance Residential Co. broke ground this week on a 324-unit apartment complex.
Located at Colorado Boulevard and E. 9th Avenue, the apartment project is part of what is slated to become a $500 million mixed-use community on the 26-acre property.
Under contract for $30 million, the Denver-based Continuum Partners is conducting due diligence and expects to finalize the deal at the end of this year. Demo and new construction would begin soon after.
This is the 5th time in 10 years that a developer has attempted to purchase the CU property and start a project. Due to to difficult market conditions, neighborhood opposition, and a defunct proposal for a Walmart, previous efforts have failed.
The 6.25-acre Alliance Residential apartment site was part of a separate real-estate transaction.
The apartments, named Broadstone on 9th, “will appeal to the growing population of families, young professionals and individuals who appreciate the conveniences and amenities of living in the heart of Denver,” said Andy Clay, Alliance’s managing director of development for Denver.
