Kensington Development Partners and IM Properties acquired a 150-acre land parcel in Denver to create Link 56, a mixed-use development. Positioned in the Green Valley Ranch/DEN International Airport submarket, Link 56 will feature approximately 250,000 square feet of commercial development and around 2,000 rental units on the northwest quadrant of 56th Ave. and Tower Road. The development will also include approximately 27 acres of parks and open space.
Construction on Phase I of Link 56 is set to begin immediately, with an estimated investment of $235 million. This initial phase will include:
- Target:Â A 150,799-square-foot Target store.
- 214-unit Class A Multi-Family Development:Â A mix of two- and three-story garden-style apartments across 13 buildings, designed for modern living.
- 170-unit Class A Built-To-Rent (BTR) Townhome Community:Â A collection of two-story townhomes across approximately 11 acres.
- Retail & Dining Destinations:Â A combination of stand-alone and multi-tenant retail pads featuring a mix of prospective tenants. Lease negotiations are underway with brands spanning the restaurant, coffee, general retail and automotive sectors.
The post Kensington, IM Teaming Up on $235M Denver Mixed-Use Project appeared first on Connect CRE.
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