The Opus Group and Principal Announce Start of Construction on Multifamily Development Near Empower Field at Mile High in Denver

DENVER, CO - The Opus Group (Opus) and joint venture partner, Principal Real Estate Investors, announced today the start of construction on a new multi-family development near Empower Field at Mile High. The city of Denver is one of the fastest growing U.S. cities with more than 80,000 residents living within a 1.5-mile radius of the urban core and central business district, according to the Downtown Denver Partnership. The 277-unit building will offer a range of studio, one-bedroom and two-bedroom options.

Located at 1919 Mile High Stadium Circle in the Jefferson Park neighborhood, the 363,000-square-foot building will include an above-grade parking structure with 288 stalls and bike storage. Tenants will have access to upscale amenities, including two clubrooms. The fourth floor clubroom will have access to a deck with a kitchen and grilling area. The 12th floor clubroom will offer expansive views of downtown Denver and Empower Field at Mile High.

“Due to the high demand for housing across downtown and its nearby neighborhoods, we know Jefferson Park is a prime area that appeals to young professionals who are seeking housing within walking distance of work, entertainment, retail and public transportation,” said Joe Swensson, senior manager of real estate development at Opus.

Colorado is one of the healthiest states in the country, according to a U.S. News index. This new development will support Denver’s recreational lifestyle; residents will be able to take advantage of a two-level fitness center, a lap pool and a hot tub. The site has nearby recreation opportunities, including the Platte River Trail, a 28.5-mile, multi-use trail that follows the river as it winds through Denver’s urban landscape, and Sloan’s Lake Park, a 177-acre park offering boating, fishing and picnicking with stunning views of the Rocky Mountains.

“We’re thrilled to bring this multi-family project to life through our integrated teams of builders and designers to meet the demand in this vibrant, urban market,” said Dustin Slack, vice president of real estate development at Opus.

This marks the third multi-family project for Opus in the greater Denver market. The Glenn, located in Centennial, was completed in May 2018, and Verve, in the LoDo inspired redevelopment area, was completed in 2014.

Opus is the developer, design-builder, interior designer and architect and structural engineer of record. Principal Real Estate Investors is the financial partner for the project. The project is scheduled for completion in early 2022.

About The Opus Group: The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; architecture, engineering and interior design. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries: Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C. Specializing in industrial, office, residential, student living, senior living, institutional and retail projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com and follow @TheOpusGroup on Twitter and @theopusgroup on Instagram.

About Principal Real Estate Investors: Principal Real Estate Investors manages or sub-advises $78.6 Billion in commercial real estate assets (as of March 31, 2020). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.

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