In a report recently published by the Colorado Real Estate Journal, nearly 10,000 millennials are moving to the Mile High City every month, directly impacting Denver’s multifamily rental market. Power Design has seen tremendous growth in Denver after first breaking ground there in 2012.
“In the past 5 years we’ve taken on nearly 20 multifamily projects in Denver alone,” explained Rob McMillian, Power Design’s Regional Vice President of the West. “It was a great move for our teams out West and showing no signs of slowing down.”
To solidify McMillian’s assertion, Milender White recently awarded Power Design 2 residential high rises in Denver. “We are very excited to be partnering with Milender White,” added McMillian. “Our values align which makes for a strong team effort throughout the project.”
909 Bannock Street will feature 302 units and nearly 800,000-square-feet, while Ascent Union Station boasts 422,800-square-feet and 168 units. Collectively 30 stories, both projects are owned and developed by Greystar, with whom Power Design has been partnering with for nearly 10 years.
Also mentioned in the Colorado Real Estate Journal article, is that Denver has been a leader in master-planned communities. As it lends itself to a younger population than much of the U.S., this bodes well for the apartment market according to Chris Porter, the chief demographer and researcher and Burns Real Estate Consulting.
To read the full article, visit: Millennials Making it in the Mile High City
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