The Colorado Coalition for the Homeless (CCH) is redeveloping the Downtown Denver YMCA, which closed 45,000 square feet of activity space at the end of last year. The two organizations have been partners in the building since the YMCA of Metropolitan Denver sold much of it to CCH in 2001 for $5.4 million,
The property will retain its 216 units, but several single-room occupancy units will be combined into fuller apartments and 19 new residences will be added to the second floor. Seven units will be added to third and fifth floors, and six units will be added on the fourth floor. Santulan Architecture developed the plans. Currently, the property offers single-resident-style housing. Similar to college dorms, there are shared bathrooms and kitchens.
The goal is to start renovations at the end of 2026 or early 2027 with a six- to eight-month timeframe once work begins.
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
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Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
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JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
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