Presidio Residential Capital and Prospect Begin Vertical Construction on 64 Townhomes Within Emerging Sloans Neighborhood District
11 Homes at Perry Row at Sloans Have Already Been Sold
DENVER, CO--(Marketwired - Jul 5, 2016) - Presidio Residential Capital and developer Scott McFadden have already sold 11 units as vertical construction begins at Perry Row at Sloans, a new two-acre neighborhood offering 64 townhomes within the South Sloans Lake neighborhood district, which is being developed on the former St. Anthony's Hospital campus in west Denver. The new community at 1600 Perry Street is expected to be complete by January 2018. The retail value of this development will exceed $39 million.
"We're already seeing high demand for Perry Row at Sloans because the community is bringing much-needed housing to a market that's experiencing a vibrant rebirth," said Prospect principal E. Scott McFadden. "With its ideal location close to employers, recreation and entertainment, Perry Row at Sloans offers a vibrant lifestyle and convenience."
This is the first project Presidio has partnered on with Mr. McFadden.
The three-story townhomes, ranging from 1,433 to 2,200 square feet, will have rooftop decks, two-car garages and designer kitchens. Sprocket Design-Build of Denver created custom interiors to the contemporary rowhouses with finishes by Modern Century Design. The homes are priced from the $400,000s to the $700,000s.
Located in the heart of the new Sloans neighborhood district, Perry Row offers access to all the area has to offer, including boutique shops, restaurants, entertainment and the Chapel Plaza. Residents will have easy access to Sloan's Lake and Sloan's Lake Park as well as the Perry Street light rail station and Union Station.
Perry Row at Sloans, as well as the entire Sloans project, adheres to LEED for Neighborhood Development standards and incorporates many green-building principles.
The sales center for Perry Row is open at 1565 Raleigh Street, #108, on Wednesday through Sunday from 11 a.m. to 6 p.m. or by appointment.
According to the National Association of Home Builders' formula to determine the local impact of single-family housing in typical metro areas, adding 64 single-family homes will generate $18.3 million in local income, $2.3 million in taxes and other revenue for local governments and 252 local jobs.
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, Calif., the firm provides capital for the entitlement, development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $500 million into the economy to capitalize the housing industry. The firm's goal is to fund an additional $250 million in capital for home-building projects in the Western United States, and it currently has investments in Arizona, California, Colorado, Nevada, and Washington. The firm is affiliated with a privately held registered investment advisor specializing in alternative investment strategies who has a long history of investing in the home-building sector. Current assets under management total more than $2 billion. Presidio is a member of the Building Industry Association of San Diego. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn.
Prospect is a Denver-based developer of residential communities focused on infill and transit-oriented development. We have extensive experience in the development and ownership of all types of multifamily housing, including luxury rental, for-sale condominium and affordable rental. http://www.prospectprop.com