Kennedy Wilson Eyeing School Site for Denver Apartment Community
Kennedy Wilson is pursuing a seven-story, 242-unit apartment development on Federal Boulevard, where the Family Star Montessori School stands today. The school plans to move to a nearby location in Lakewood. It needs the cash from the sale to Kennedy Wilson to facilitate the move. The Denver Business Journal reports the school bought the property for $1.34 million in 2000.
Kennedy Wilson has said the ground floor of the building won’t be used for controversial business types like adult bookstores or cannabis. The developer also agreed to add public art, benches and other design elements. In addition, Kennedy Wilson will build out 7,500 square feet of retail space.
Affordable units would serve those earning 60% or less of the area median income, including four studios, 13 one-bedroom units, and seven two-bedroom units.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout