Aria Apartments
Aria Apartments Denver, Colorado
Firm Role Co-Developer with Urban Ventures, Planner, Property Manager Project Profile New construction of affordable family apartments Total Housing Units: 72 Mix of 1 & 2 BR Ranging from 712 to 1,059 sq.ft. Project Team Developer: Perry Rose Builder: Palace Construction Property Manager: Rose Companies Management Development Costs $9.35 million Hard Costs $4.06 million Soft Costs $13.5 million Total Costs Completion July 2013, September 2013 100% Leased November 2013 100% Occupied Selected Awards Urban Land Institute, Colorado Impact Awards: Infill, 2015 Mayor’s Design Awards, Sustainable Style, 2014
www.rosecompanies.com
Completed in July 2013, the Aria Apartments introduced sustainable and affordable housing for urban-minded families and individuals of all ages to a community built on a vision of healthy and active living. The project is part of the first phase of the larger Aria Denver community development that will consist of a diverse range of housing types totaling 452 units and 30,000sf of community-serving commercial uses. Aria Apartments consist of 31 single-bedroom units (avg. size 777sf) and 41 twobedroom two-bath units (avg. size 1,019sf) 72 units of efficiently sized ground floor flats and walk-up 2-story apartments. All of the units are dedicated to individuals and families making less than 30% to 60% of area medium income. The project is a certified LEED Platinum building for excellence in energy and water efficient design (30% efficiency), 9 Solar PV systems, recycling program, and environmentally friendly materials were installed in each apartment. On site amenities include community center with a workout facility and gathering area in addition to a BBQ area with outdoor seating. Monthly resident functions are held such as dinners, kids movie night, and LEED training classes which promote healthy living and include education about features in their home. Aria Apartments was financed as a 9% Low Income Tax Credit Project. Both debt ($2,561,000) and LIHTC Equity ($10,536,0000) were provided by Bank of America NA. Debt was subsequently sold to Pac Life and equity was sold to Alliant Capital.
ROSE DEVELOPMENT
Firm Role Co-Developer with Urban Ventures, Planner, Property Manager Project Profile New construction of affordable family apartments Total Housing Units: 72 Mix of 1 & 2 BR Ranging from 712 to 1,059 sq.ft. Project Team Developer: Perry Rose Builder: Palace Construction Property Manager: Rose Companies Management Development Costs $9.35 million Hard Costs $4.06 million Soft Costs $13.5 million Total Costs Completion July 2013, September 2013 100% Leased November 2013 100% Occupied Selected Awards Urban Land Institute, Colorado Impact Awards: Infill, 2015 Mayor’s Design Awards, Sustainable Style, 2014
www.rosecompanies.com
Completed in July 2013, the Aria Apartments introduced sustainable and affordable housing for urban-minded families and individuals of all ages to a community built on a vision of healthy and active living. The project is part of the first phase of the larger Aria Denver community development that will consist of a diverse range of housing types totaling 452 units and 30,000sf of community-serving commercial uses. Aria Apartments consist of 31 single-bedroom units (avg. size 777sf) and 41 twobedroom two-bath units (avg. size 1,019sf) 72 units of efficiently sized ground floor flats and walk-up 2-story apartments. All of the units are dedicated to individuals and families making less than 30% to 60% of area medium income. The project is a certified LEED Platinum building for excellence in energy and water efficient design (30% efficiency), 9 Solar PV systems, recycling program, and environmentally friendly materials were installed in each apartment. On site amenities include community center with a workout facility and gathering area in addition to a BBQ area with outdoor seating. Monthly resident functions are held such as dinners, kids movie night, and LEED training classes which promote healthy living and include education about features in their home. Aria Apartments was financed as a 9% Low Income Tax Credit Project. Both debt ($2,561,000) and LIHTC Equity ($10,536,0000) were provided by Bank of America NA. Debt was subsequently sold to Pac Life and equity was sold to Alliant Capital.
ROSE DEVELOPMENT
