US-based real estate investment firm Hines and its investment partner Cresset-Diversified QOZ Fund have commenced construction on a new luxury for-rent residential community in Denver, US.
The new mid-rise project, dubbed Residences at RiNo, will be constructed at the Entryway to Denver’s River North Arts District.
To be built within North Wynkoop’s 1.25 million ft2 mixed-use scheme, the new residential community is marked as the fourth project that is developed by the joint venture between Hines and Cresset-Diversified.
Residences at RiNo is an 11-storey building comprising 397 units of luxury residences, private balconies with mountain and city views in selected units.
The development will include studio, one- and two-bedroom units ranging between 542 and 1,715ft² along with a limited number of affordable units and live/work units.
The residences will have amenities including modern kitchens with quartz countertops, designer tile backsplashes and stainless-steel appliances, in-unit washer and dryers, electric door locks, matte black fixtures and wood-style flooring.
Hines said that the future residents will have amenities including a resort-style heated swimming pool with a terrace; a garden area with outdoor gaming, hammocks, yoga deck and fire pits and a gym with on-demand virtual fitness classes.
It will also include a pet spa and dog park; bike shop and storage room, artist studio space with easels, tables and other necessities; and nearly 14,500ft2 of ground-floor retail.
The fourth-floor of the building will accommodate co-working space with private meeting rooms and a complimentary coffee bar.
The project is located near River North District’s restaurants, bars and entertainment centres and popular destinations including Improper City, Blue Moon Brewery, Globeville Landing Park and Dover Central Market.
The initial occupancy at the new residential community is expected in the third quarter of 2022 while the pre-leasing will start three months before the delivery.
Rendering of Residences at RiNo at the Entryway to Denver’s River North Arts District. (Credit: Hines.)