Origin Investments and Sherman Associates have broken ground on a 226-unit apartment community in Westminster.
Aspire of Westminster is the second multifamily project Sherman Associates will develop in downtown Westminster. The project, which includes 34,500 SF of street-level retail space, is expected to be completed by the end of the first quarter of 2021.
“The downtown Westminster redevelopment is a dramatic and exciting revitalization, with the multifamily projects being developed by Sherman Associates serving as a cornerstone of what is to come,” Origin Investments Director of Acquisitions Tom Briney said. “At Origin, we are bullish on the Denver metro area and excited to be joining with Sherman Associates as an investment partner in Aspire.”
Of the 226 apartments, 203 will be market-rate units, with the remaining 23 being affordable/workforce housing. The rooftop deck will have a pool and hot tub. There also will be club and fitness rooms, a yoga studio, a sports simulator room and free WiFi in common areas.
The 2.4-acre Aspire of Westminster development site is part of the broader 105-acre downtown Westminster master-planned development. The area, formerly a regional shopping mall, encompasses over 22 designated blocks with 18 acres of parks and public spaces. The first phase of development includes a 1.2-acre public plaza, Alamo Draft House, Origin Hotel, retail, office and a mix of both market-rate and affordable housing.
The redevelopment is expected to include about 2,300 multifamily and condo units, 300 hotel rooms, up to 3M SF of office space and 750K SF of retail space.
Story in Bisnow Denver here.