New ownership Greens at Van De Water sells for $75 million INSIDE Leasing up Eastpark 70 reaches full occupancy with two new tenants 10 14 FEATURED A fresh look Boulder breaks ground on Flatirons Golf Course renovations 18 CONTENTS JULY 5-18, 2023 Office 6 Industrial 10 Multifamily 14 Retail 18 Finance 20 Law & Accounting 26 CDE News 32 Who's News 44 Anchored Colorado Health and Tech Centers buys office for anchor location 6 by Avalon Jacka CASTLE ROCK – A Den- ver-based developer broke ground on its first Colorado project. Ulysses Development Group began construction of The Meadowmark June 13 in the Meadows master planned community. The project team includes Shaw Construction acting as contractor, Shop- works Architecture acting as architect and Ware Malcomb acting as civil engineer. Mis- sion Rock Residential will act as property manager for the completed community. The Meadowmark is expected to open to residents in early 2025 following an expected construction timeline of 20 months. The single-building, four- story development will pro- vide 200 affordable units for seniors aged 55 and older, especially for those in the local workforce. Units are set aside for residents at 30%, 60% and 70% of the area median income, with rents ranging between $649 and $1,888 per month. Situated on approximately 5 acres, The Meadowmark is the third largest senior afford- able community in the Den- ver metro area and the larg- est in Douglas County built in the last decade, according to UDG partner Connor Larr. Located at 3665 Timber Mill Parkway, the project will include a mix of 130 one- bedroom and 70 two-bed- room units. The units will feature in-unit washers and dryers, stone countertops, white Energy Star applianc- es, walk-in closets and views of the Front Range. The com- munity features amenities UDG breaks ground on The Meadowmark by Avalon Jacka DENVER – An adaptive reuse development has made its debut. Situated on Blake Street at 28th Street, Lot 28 added to River North’s hospitality growth with the opening of minigolf concept Puttshack, to be followed by restaurant & bar Yardbird and a show- room for electric car maker Rivian. General partner Lagniappe Capital Partners and lim- ited partner Platform Ven- tures bought the property in November 2021 for $20.6 mil- lion. The fully leased creative reuse project is expected to be fully opened by late summer. “When we bought the asset, we had high expectations for our tenant mix,” said Brian McGuire, founding partner and CEO of LCP. “We walked the property in April 2021 and knew this would be a perfect fit for Puttshack, one of our operating company investments that had been looking for space in Denver for three years. The strength of the neighborhood, trade area and adaptive reuse con- figuration did the rest of the work.” Yardbird founder and CEO John Kunkel and Chief Oper- ating Officer Yavuz Pehlivan- lar toured the site and moved quickly, McGuire said, noting they had a vision “from Day One” of how they would acti- vate roughly 14,000 square feet of interior space across four buildings, plus an addi- tional 10,000 sf of outdoor patio space. “We’re confident that between Puttshack, Yard- bird and now Rivian, Lot 28 will help activate the Blake Street retail corridor and be an entertainment destination for the greater Denver area,” McGuire said. The property includes seven contiguous build- ings that once operated as manufacturing facilities, as well as 20,000 sf of outdoor patio space. Lot 28’s design integrates much of the origi- nal structures, including the building facades and shells, Yardbird’s exposed brick walls, and Puttshack’s dou- ble-barrel roof. The 45,000-sf Lot 28 opens its first-to-market concepts Catalyst Public Affairs The Meadowmark will provide 200 affordable units for seniors in Douglas County. Please see UDG, Page 23 Please see Lot 28, Page 25 Lot 28’s design integrates much of the original structures of the manufacturing facilities that operated on the multibuilding property.