Dirt's Flying on a $40.4-Mil Multifamily Project

THORNTON, CO-A Denver developer is off and running on a $40.4 million, 480-unit apartment complex in a bedroom community of Denver, promising to deliver the metro region’s 10th largest multifamily project in 2001.

The 30-acre Champions Park is being steered by Dermot Development Co. LLC, an affiliate of Dermot Co. Inc., a Del Mar, CA-based multifamily developer that owns and manages more than 1,350 units in CO. The project is situated at the intersection of W. 104th Ave. and Colorado Boulevard.

“This project is going to do really well,” says Jeff Hawks, the apartment specialist with Grubb & Ellis who sold the land to Dermot Development. The Denver International Airport, east of the development site, is an easy 16-mile “straight shot” commute while the same holds true for Interlocken Business Park situated 12 miles to the west and Downtown Denver, which lies 10 miles to the south. And perhaps most importantly, Champion Parks’ tenants who work at Interlocken-based companies, such as Level 3 and Sun Microsystems Inc., can commute by bypassing the congested US 36, Hawks says.