Glenwood apartment projects expected to ease demand
With rental housing in high demand in the lower Roaring Fork Valley, Glenwood Springs has two new apartment complexes already well on their way toward easing some of that demand.
Construction is now underway on the 116-unit Six Canyon Apartment Complex, being developed by Richmark, a regional real estate developer. The Six Canyon complex will stand on 3.7 acres of land where the old Terra Vista Motel and Bayou Restaurant once stood, at 52089 and 52147 Highways 6 and 24 in West Glenwood.
According to a recent press release, “The Six Canyon apartments will feature two four-story buildings that are connected by an enclosed skyway. The multifamily complex has been designed to offer upscale city living with a western flair.”
Each apartment building will include amenities such as indoor bicycle storage, a dog washroom and a roof deck with a barbecue grill.
The grounds also will feature two picnic areas with grills, an outdoor play area and a multiuse court. Units will offer stainless steel appliances, a washer and dryer as well as standard air conditioning.
With construction currently underway, the 116 studios, one- and two-bedroom units have an estimated completion date of late 2019.
Meanwhile, Dallas-based Realty Capital Partners LLC, in conjunction with developers Realty Capital Management LLC and Stoneleigh Companies, partnered on a joint undertaking for Phase II of the Lofts at Red Mountain, on the south end of Glenwood Meadows.
Phase 1 of the project is expected to be completed in the spring, bringing 85 units on line. Phase II is targeted for an early 2020 completion on an additional 96 units.
“We are very excited to be part of the second phase of what is proving to be a very needed housing option in this area,” Realty Capital Partners President Blake Lugash said in a press release. “The Lofts is a great location for Roaring Fork Valley residents to be close to dining, shopping and the VelociRFTA bus route.”
Phase I of the project features 85 units in two apartment buildings at the base of Red Mountain, near Target and Lowe’s in the Glenwood Meadows. With Phase I headed for completion in roughly nine months, Phase II of the project, which broke ground earlier this summer, will allow for an additional 96 units spread out over three buildings. Phase II has a tentative completion date of early 2020.
“For years, we have been focused on this project due to the housing shortage in the Roaring Fork Valley,” co-developer Bob Moore of Realty Capital Management said. “After we started Phase 1, we were swamped with hundreds of prospective residents who have already signed up on our waiting list.
“Because of the strong demand, we have decided to accelerate the construction of Phase II by several months. … We can’t wait to start meeting with our future residents,” he said.
The city also has approved another 79 apartment units to eventually be built on the 6-acre former Bell-Rippy property north of Wal-Mart and east of the 27th Street bus station on South Blake Avenue. However, construction has not yet begun on that project.