{"id":652,"date":"2025-07-02T19:19:21","date_gmt":"2025-07-02T19:19:21","guid":{"rendered":"http:\/\/www.agencywebdesigners.com\/?p=652"},"modified":"2025-07-03T14:22:59","modified_gmt":"2025-07-03T14:22:59","slug":"construction-begins-on-310-unit-multifamily-development-in-denvers-river-north-art-district","status":"publish","type":"post","link":"http:\/\/www.agencywebdesigners.com\/index.php\/2025\/07\/02\/construction-begins-on-310-unit-multifamily-development-in-denvers-river-north-art-district\/","title":{"rendered":"Construction begins on 310-unit multifamily development in Denver\u2019s River North Art District"},"content":{"rendered":"<p>Work began last month on a new 310-unit multifamily development in Denver\u2019s River North Art District.<\/p>\n<p>The 16-story residential building, known as 3850 Blake, will be built on a vacant lot at the corner of Blake Street and 38th Street. <\/p>\n<p>The development is expected to be completed in the third quarter of 2027 and will feature a mix of studio, one- and two-bedroom apartments, with units averaging 563 square feet.<\/p>\n<p>JLL represented real estate firm <a href=\"https:\/\/formativco.com\/\" target=\"_blank\" rel=\"noopener\">FORMATIV<\/a> in securing $65.5 million construction financing for the development. JLL Capital Market\u2019s Debt Advisory team was led by Director Rob Bova and Senior Analyst Ellie Savage.<\/p>\n<p>\u201c3850 Blake represented a compelling opportunity in one of Denver\u2019s most dynamic neighborhoods,\u201d Bova said.<\/p>\n<p>\u201cThe project\u2019s efficient unit mix, extensive amenities and transit-oriented location position it well to meet the strong demand for luxury rental housing in RiNo.\u201d<\/p>\n<p>Nearly 40% of residences are priced to be affordable for individuals earning 70% of the area median income, while over 70% are accessible to those earning below 100% of the AMI, making the development a step toward attainable urban living.<\/p>\n<p>The multifamily property will also offer 12,000 square feet of amenity space, including an elevated pool deck with unobstructed mountain views, a clubhouse, coworking zones, an indoor\/outdoor fitness center and a programmed lobby designed to engage with the surrounding neighborhood.<\/p>\n<p>The parcel of land is owned by 3850 Blake Owner LLC and was purchased in April 2022 for $9.6 million, according to Denver property records.<\/p>\n<aside class=\"related right\">\n<h2 class=\"widget-title\" data-curated-ids=\"7172892,7160681,7180404,7204427,7197933\" data-relation-type=\"curated\">Related Articles<\/h2>\n<ul>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/05\/31\/denargo-market-rhino-statue-art\/\" title=\"Denargo Market\u2019s rhino statue in RiNo is here; Denver residents have a chance to name it\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tDenargo Market\u2019s rhino statue in RiNo is here; Denver residents have a chance to name it\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/05\/22\/fabrica-rino-leasing-activity\/\" title=\"Co-working space Fabrica RiNo rebrands and announces rise in leasing activity\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title \"><br \/>\n\t\t\tCo-working space Fabrica RiNo rebrands and announces rise in leasing activity\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/06\/04\/vinyl-me-please-rino-sold-lawsuits\/\" title=\"Denver\u2019s Vinyl Me, Please sold as it sues execs for starting RiNo plant\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tDenver\u2019s Vinyl Me, Please sold as it sues execs for starting RiNo plant\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/07\/01\/queens-eleven-closed-rino-denver\/\" title=\"\u2018It\u2019s just pure economics\u2019: Caf\u00e9 and cocktail bar closes in RiNo\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\t\u2018It\u2019s just pure economics\u2019: Caf\u00e9 and cocktail bar closes in RiNo\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<li>\n\t\t\t<a class=\"article-title\" href=\"https:\/\/www.denverpost.com\/2025\/06\/24\/penrose-rose-rooftop-pool-rino-denver\/\" title=\"Rooftop pool bar coming to RiNo\u2019s Penrose apartment complex\"><\/p>\n<p>\t\t\t\t<span class=\"dfm-title metered\"><br \/>\n\t\t\tRooftop pool bar coming to RiNo\u2019s Penrose apartment complex\t\t<\/span><\/p>\n<p>\t\t\t<\/a><\/p>\n<\/li>\n<\/ul>\n<\/aside>\n<p>RiNo has experienced exponential growth in recent years, with 26,000 new residents relocating to the area from 2019-2020 alone, according to a news release on the project.<\/p>\n<p>The neighborhood features over 150 restaurants, bars, galleries and entertainment venues within a 10-block radius of the development.<\/p>\n<p>FORMATIV is a real estate investment and development firm based in Denver. The firm\u2019s <a href=\"https:\/\/formativco.com\/projects\/\" target=\"_blank\" rel=\"noopener\">portfolio<\/a> encompasses multifamily housing, office spaces, hospitality, condominiums and large-scale master-planned communities, including projects such as The Hunter in Colorado Springs and <a href=\"https:\/\/www.denverpost.com\/2023\/10\/08\/denver-denargo-market-rino-river-north\/\">Denargo Market in RiNo<\/a>.<\/p>\n<p><a href=\"https:\/\/myaccount.denverpost.com\/dp\/preference?_gl=1*1eom48m*_gcl_au*MjA3OTE1NTA1Ny4xNzM0OTc1NDAx*_ga*MTI2MDMyMzc5My4xNzI3MTA5OTE4*_ga_9X3Z9L7GQJ*MTczNjM1NTE3My4yNTguMS4xNzM2MzU5ODI2LjIxLjEuMTI4NjgxMTA5Ng..\"><em>Get more business news by signing up for our On The Block newsletter.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Work began last month on a new 310-unit multifamily development in Denver\u2019s River North Art District. The 16-story residential building, known as 3850 Blake, will be built on a vacant lot at the corner of Blake Street and 38th Street. The development is expected to be completed in the third quarter of 2027 and will&hellip;<\/p>\n","protected":false},"author":1,"featured_media":275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[],"_links":{"self":[{"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/posts\/652"}],"collection":[{"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/comments?post=652"}],"version-history":[{"count":1,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/posts\/652\/revisions"}],"predecessor-version":[{"id":653,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/posts\/652\/revisions\/653"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/media\/275"}],"wp:attachment":[{"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/media?parent=652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/categories?post=652"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.agencywebdesigners.com\/index.php\/wp-json\/wp\/v2\/tags?post=652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}