Axis will include a mix of for-sale townhomes, lofts and flats, along with 24,000 sf of neighborhood-serving retail space. Units will be priced from the high $200,000s to the low $400,000s and range in size from 850 sf to1,650 sf.
The 15-acre site, which UPB has under contract, is adjacent to the Westminster Promenade retail and entertainment complex, as well as a planned high-speed light-rail stop for the "FasTracks" metro Denver transit system. Westminster Promenade includes a 24-screen AMC movie theatre, a Dave & Busters, a high-tech bowling alley center, the non-profit Butterfly Pavilions and the publicly owned Sun Microsystems Ice Centre.
Scott Choppin, managing partner of UPB, says the company has secured construction financing for the first phase of the project, which will have 180 units. He added that total build-out of the entire project is estimated at three to five years.
"This will be a high-profile community, with housing to consist of four to seven stories over ground-floor retail, located next to existing retail as well as a planned FasTracks light-rail station," Choppin says. FasTracks is the $4.7 billion transportation plan approved by voters. "This is very much in line with the 'new town' urban housing philosophy Urban Pacific has pursued since its inception, and which is becoming increasingly popular in many emerging as well as established urban areas around the country."
UPB's Westminster project will feature such amenities as a central village green, community room, pool and spa, fitness center and business center. Boulder-based Oz Architecture is designing the project.
UPB is currently pursuing additional development opportunities in Westminster, Choppin says. "This city is great to work with, and is one of the few with a true vision of its future and the collective will to make it happen," he says. Choppin says that UPB will open a satellite office in Denver, as well as other locations to support its expanding portfolio. It also recently expanded into Oregon.
Long Beach, CA-based UPB specializes in higher density, mixed-use housing developments that also include retail and/or office components, in urban areas close to employment centers and transit corridors.
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