This Week’s Denver Deal Sheet

Urban Land Conservancy, a Denver-based nonprofit, and Lakewood-based Pinkard Construction broke ground on The Irving at Mile High Vista May 29.

Going up at 3270 W. Colfax Ave., The Irving will feature 102 income-restricted apartments. It was designed to serve households making 20% to 80% of the area median income.

The project is one of the first developments to use the affordable housing financing approved by Colorado voters in 2022 with the passage of state Proposition 123. Construction is expected to be complete by mid-2025.

The Irving was designed by Studio Completiva. Funding partners for the project include the Colorado Housing and Finance Authority, JPMorgan Chase, The Colorado Division of Housing, the city and county of Denver and TD Bank.

SALES

Flywheel Capital acquired two industrial properties, at 4970 Cook St. in Denver and 5790 Dahlia St. in Commerce City, to expand the company’s industrial outdoor storage capabilities. Flywheel Capital represented itself in the acquisition, and Newmark brokers Mike Viehmann, Mike Wafer and Mike Wafer, Jr. represented the seller. 

Sitting on 2.47 acres, 4970 Cook St. is a 20K SF, single-tenant net-leased industrial property located in an opportunity zone with excellent access to major highways. 5790 Dahlia St. is a 7K SF property built on 2.11 acres.

The acquisitions mark the second IOS-focused transaction for Flywheel Capital over the past year. Total holdings for the company are now more than $360M, encompassing over 1.5M SF of office, industrial and multifamily properties as well as ongoing and future development projects. 

CONSTRUCTION AND DEVELOPMENT

Construction on the new Denver Broncos headquarters and training facility in Englewood is scheduled to begin in late August. The new three-story, 205K SF complex is expected to open ahead of the 2026 NFL football season, on the team’s existing 26-acre campus at 13655 Broncos Parkway.

It will combine the Broncos’ business and athletic operations under one roof. It will also connect to the 115K SF Pat Bowlen Fieldhouse, built in 2014. The new facility will be designed by New York-based Rockwell Group and HOK, a Saint Louis-based architecture firm.

THIS AND THAT

The Crawford Hotel at Denver’s Union Station has unveiled a “major refresh” in celebration of its upcoming 10th anniversary. The current $11M renovation features a new lobby space separate from Union Station’s Great Hall.