Stoneleigh Companies, LLC announces plans to acquire land to build The Lofts at Red Mountain Apartments, a new urban multi-family project, with a planned start in April of 2017 in Glenwood Springs, Colorado.
(December 9, 2016) – Chicago-based Stoneleigh Companies, in partnership with Realty Capital Management, LLC, plan to build five, 4-story multi-family buildings adjacent to the Glenwood Meadows Market Street. The buildings will consist of 182 multi-family units, with garages, covered parking, a full amenity package with the latest residential designs to provide a complete rental living community for area residents. The multi-family units will range from approximately 508 square feet to 1,241 square feet and feature studio, one, two, and three bedroom units. The project will also include common area amenities and complementary commercial space on the ground level of the building fronting Market Street.
The Master Development Application for Phase 1 of The Lofts at Red Mountain gained approval last winter. Realty Capital has been working with the City of Glenwood Springs to make the project financially viable through an in-depth analysis of City infrastructure and impact fees. “We are pleased to bring such a quality development partner on board for The Lofts at Red Mountain. Stoneleigh Companies has a long track record of success across the United States and understands the demand for quality housing on the western slope.” said Richard Myers, Managing Director of Realty Capital.
The Lofts will bring an urban lifestyle to the Glenwood Springs community and will offer units and amenities that have not been available before now. The project is located in the Glenwood Meadows development, next to the Community Center, RFTA stop, and the Glenwood trail system.
The Lofts will be a Class A apartment community with high-end finishes and common amenities. Amenities will consist of a state-of-the art clubroom, fitness center with yoga/TRX studio, business center, electric car charging stations, heated outdoor pool, outdoor kitchen/bar/grill pavilion with a fire pit. Each unit will include nine foot ceilings, wood flooring in entries and great rooms, stainless steel appliances, granite countertops, espresso shaker style cabinets, designer tile backsplashes, walk-in closets, full-size washer and dryers, and balconies with picturesque mountain and valley views.
“We are very excited about the opportunity to bring Class A urban lifestyle apartments to Glenwood Springs,” commented Rick Cavenaugh, President of Stoneleigh Companies. “With high-quality finishes and outstanding amenities, The Lofts at Red Mountain will set the new standard for apartment living in the mountains. Glenwood Springs is a growing community and we want to deliver a quality development that will help sustain that growth.”
“The western slope market has been significantly underserved in new multi-family construction, and there exists a pent up demand for housing in Glenwood Springs. The Lofts will meet this demand while still remaining affordable to area residents. Stoneleigh has excelled at providing quality construction, delivering residents a very high level of service with a focus on creating living environments residents are proud to call home,” said Rick Cavenaugh.
About Stoneleigh Companies
Based in Chicago, Stoneleigh Companies is a private real estate investment company focused on acquisition and development of multifamily properties, with a track record of over 40,000 multi-family units in 35 cities and 18 states over the last 33 years. The principals and officers of Stoneleigh are experienced in all aspects of commercial real estate development, finance, and operations and have been operating on a national platform since the early 1980’s.
For more information, visit www.waterfordresidential.com.
About Realty Capital Management, LLC
Realty Capital was founded in 1987 and over the past 29 years has developed over 3,500 residential units and more than one million square feet of commercial buildings. In 2011, Realty Capital became an employee-owned firm with Richard Myers, Jimmy Archie and Tim Coltart serving as Managing Directors. Realty Capital is currently partnered with industry leaders including Hillwood Communities, Stratford Land, Granite Land and Avanti Properties in development of multi-million dollar mixed-use projects across the Southwest.
For more information, visit www.rcpinvestments.com.