Stoneleigh Companies/Realty Capital Management Announce the Groundbreaking of The Lofts at Red Mountain Apartments
(September 26, 2017) –Chicago-based Stoneleigh Companies, in partnership with Dallas-based Realty Capital Management, announce the acquisition 3.85 acres of land for the construction of The Lofts at Red Mountain Apartments located in Glenwood Springs, Colorado. Phase I has broken ground and will consist of 85 apartments and 5,300 square feet of retail shop space on 2.01 acres south of Wulfsohn Road, adjacent to the Glenwood Meadows Market Street and Shopping Center.
“The beginning of construction marks a significant milestone for all of Glenwood Springs,” said Richard Myers, Managing Director for Realty Capital Management. “We have been working to bring new housing to the Roaring Fork Valley for quite some time and look forward to developing Class A apartments for area residents.”
The Lofts at Red Mountain Apartments will feature 85 Class A luxury apartments consisting of studio, one, and two-bedroom units. Residences will range from 555 to 1,266 square feet offering high end finishes including quartz countertops, luxury vinyl hardwood-style floors, stainless-steel appliances, in-unit washer and dryer, and balconies with picturesque mountain and valley views. Community amenities include a resident clubroom with demonstration kitchen, tech lounge, fitness center and yoga studio, outdoor entertainment space with a grilling and dining pavilion and fire pit, bicycle storage, and private garage parking with electric car charging stations.
The property is located just west of downtown Glenwood Springs, on Wulfsohn Road in the Glenwood Meadows retail development, the area’s largest shopping center. The Lofts will bring an urban lifestyle to the Glenwood Springs community and will offer units and amenities above and beyond what is currently available in the area. In addition to its proximity to the Glenwood Meadows, the project has an on-site RFTA bus stop, is located next to the state-of-the-art Glenwood Springs Community and Recreation Center, and is adjacent to the Glenwood Springs trail system.
The project has been designed by Keith Bennett, founder of KCB Architecture in Salt Lake City, UT. Local contractor Gould Construction will be performing the underground and utility work with RVC Construction out of Salt Lake City, UT working as the general contractor. Equity financing has been provided by Orlando-based SunGate Capital Funding 7, LLC, Stoneleigh Companies, LLC and Dallas-based Realty Capital Partners. The Lofts at Red Mountain is anticipated to open in early 2019.
About Stoneleigh Companies, LLC
Based in Chicago, Stoneleigh Companies is a private real estate investment company focused on acquisition and development of multifamily properties, with a track record of over 40,000 multi-family units in 35 cities and 18 states over the last 35 years. The principals and officers of Stoneleigh are experienced in all aspects of commercial real estate development, investment, finance, and operations. For more information, visit www.waterfordresidential.com.
About Realty Capital Management, LLC
Realty Capital was founded in 1987 and over the past 30 years has developed over 3,500 residential units and more than one million square feet of commercial buildings. In 2011, Realty Capital became an employee-owned firm with Richard Myers, Jimmy Archie and Tim Coltart serving as Managing Directors. Realty Capital is currently partnered with industry leaders including Hillwood Communities, Stratford Land, Granite Land and Avanti Properties in development of mixed-use projects across the Southwest. For more information, visit www.realtycapital.com or contact Richard Myers at 817-313-5000.