Hines, investment partner break ground on RiNo project
Hines, along with investment partner Cresset-Diversified QOZ Fund, has commenced construction on Residences at RiNo, a 397- unit, luxury, for-rent apartment community at the entryway of Denver’s River North Arts District.
The midrise project, at Brighton Boulevard and 43rd Street and located within North Wynkoop’s 1.25 million-square-foot mixed-use development, is the fourth joint venture between Hines and Cresset-Diversified. Together, they have built more than $600 million in opportunity zone developments around the country. Residences at RiNo is expected to achieve LEED Gold certification upon completion.
“We are excited to kick off construction on this exceptional residential offering in one of Denver’s most sought-after neighborhoods,” said Kevin Batchelor, senior managing director, Hines. “With its world-class architecture; balance of amenities and services; and proximity to RiNo’s renowned restaurants, breweries, art galleries and entertainment, Residences at RiNo will set a new standard for apartment living in Denver.”
The 11-story building will feature studio, one- and two-bedroom units from 542 to 1,715 sf, in addition to a limited number of affordable and live/work units. Residences will feature modern kitchens with quartz countertops, designer tile backsplashes and stainless steel appliances, in-unit washers and dryers, electric door locks, matte black fixtures and wood-style flooring throughout. Select units also will have private balconies with mountain and city views.
Community amenities include a resort-style heated swimming pool with a terrace; large garden area with outdoor gaming, hammocks, yoga deck and fire pits; state-of-the-art gym with on-demand virtual fitness classes and Skier’s Edge training equipment; pet spa and dedicated dog park; bike shop and storage room; fourth-floor coworking space with private meeting rooms, complimentary coffee bar and ample natural light throughout; artist studio space with easels, tables and other creative necessities; and approximately 14,500 sf of ground-floor retail. The Residences at RiNo also will feature a sky lounge with unobstructed Rocky Mountain and city views, two outdoor kitchens with gas grills, lounge area overlooking with pool deck with a kitchen, game room and sitting areas overlooking the adjacent Mission Ballroom.
The development also is accessible from Interstates 70 and 25, and Brighton Boulevard as well as near the 38th and Blake lightrail station.
The design team for the project includes Zeigler Cooper Architects, design architect; Parisa O’Connell Interior Design, interior design of common areas; Design Workshop, landscape architect; and Modern Constructors, general contractor. Northwestern Mutual provided construction as well as permanent financing and equity for the project.
Residences at RiNo is slated for initial occupancy in the third quarter of 2022. Preleasing will begin three months prior to delivery.
Featured in the November 4-17, 2020, issue of CREJ