Rezoning the property -- at the junction of Brighton Boulevard and Broadway at 29th Street, close to the Ballpark neighborhood -- from Light Industrial (I-2) to Planned Unit Development (PUD) was a critical stage in the approval process. I-2 zoning does not permit residential use while the PUD does. The next step is site plan approval.
JPI has been working with the city for nearly two years to create a site plan that is compatible with the Brighton Boulevard warehouse area while at the same time maintaining JPI's signature luxury residential amenities.
"We are excited to be in Downtown Denver with this project," says JPI Divisional President Tim McEntee. "We believe that this is a great use for this site and feel that there is a strong demand for residential housing in the area. According to the Downtown Denver Partnership, 32% of Downtown workers would consider living Downtown if adequate housing were available."
Designed by Memphis, TN architects Lonney, Ricks, Kiss and Associates, the project will offer an industrial warehouse and "loft" look with several buildings featuring wood frame construction. As with other JPI properties, Jefferson at Gateway will offer residents amenities such as a 5,000-sf clubhouse, exercise facility and a fully equipped business center with faxes, color printers and digital photo equipment. The project also will include a four-story parking garage tucked into the property's interior.
Jefferson at The Gateway is designed with the incomes of the average metro Denver employee in mind. The apartments will be priced so that a Downtown Denver worker making $31,000 could afford to live in the complex. The base monthly lease rate will be approximately $862 for a studio, $1,050 for a one-bedroom apartment and $1,675 for a two-bedroom apartment.
JPI has set aside 10% of the apartments as "affordable housing," which means that lower income tenants who qualify will pay approximately $57 to $682 less per month, depending upon the size of the unit leased.
As part of the development process, JPI, a participant in the Colorado Department of Health and Environment volunteer clean up program, will spend up to $1 million for soil and environmental remediation at the industrial site, which has been vacant for at least 25 years.
"One of our goals is to be good for the neighborhood," McEntee says.
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