April 15, 2019 Comments Off on Development Team Plans $79M MXU Dev in Aurora, CO Views: 690 Colorado, National News, Southwest

Development Team Plans $79M MXU Dev in Aurora, CO

Northstar Commercial Partners, Milender White and Canyon Partners Real Estate LLC closed on a $78.7-million development called Parkside @ City Centre in Aurora, CO. The ground-up, mixed-use project will feature 216 market-rate, multifamily apartments, and 36,000 square feet of retail.

Northstar’s Brian Watson says, “We think the retail development has a chance to positively impact Aurora by creating new jobs, while offering the area high-quality multifamily apartments at a more affordable price point than many surrounding markets.”

Located within an Aurora Urban Renewal District on 5.6 acres east of Denver, the land was purchased by Northstar in 2015. Now that development approvals are secured and partnerships are in place, the team plans to break ground this month. Retail space will come online in early 2020, with the apartments slated for summer 2021 delivery.

Northstar and Milender White jointly serve as developer, with Milender White the general contractor. Canyon Partners Real Estate provided the preferred equity.

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