Stoneleigh Cos., Realty Capital Management to Develop 85-Unit Apartment Complex in Glenwood Springs
REBusiness Online | Nellie Day | September 28, 2017
GLENWOOD SPRINGS, COLO. — A joint venture between Stoneleigh Cos. and Realty Capital Management has acquired 3.8 acres of land to build The Lofts at Red Mountain Apartments, an 85-unit apartment community with ground-floor retail in Glenwood Springs. The land is situated at south of Wulfsohn Road, adjacent to the Glenwood Meadows Market Street and Shopping Center.
The Lofts at Red Mountain has an on-site RFTA bus stop, situated next to the Glenwood Springs Community and Recreation Center. It is also adjacent to the Glenwood Springs trail system. The developers have already broken ground on Phase I, with completion scheduled for early 2019.
RVC Construction is building the project, which KCB Architecture designed. SunGate Capital Funding 7 LLC, Stoneleigh Cos. LLC and Realty Capital Partners provided equity financing.