Upcoming

Nova West Apartments

Longmont, CO

Groundbreaking Fall 2020

Granite Capital Group’s planned development of approximately 10.99 acres of vacant land consists of five “for rent” four-story, elevator-served apartment buildings in Longmont, CO.  Located within walking distance to Longmont’s most popular shopping and entertainment center (Village at the Peaks), the property offers residents the convenience and luxury of walkability at rents well below competitive properties in Boulder – only 10 minutes away.  Residents will enjoy a short 10-minute walk to retail, grocery, and entertainment that includes Whole Foods, Regal Cinemas, Gold’s Gym, Target, various eateries, and more. 

Nova in Longmont is a well-positioned property both in location and pricing that will provide convenience and affordability to renters seeking relief from Boulder’s high price tag while allowing for quick access to entertainment and shopping.

Investment Highlights:

  • 7-year hold period with annual ROI of ~18.5% through cashflow and appreciation
  • Cashflow after stabilization approximately 11% per year
  • Total project cost of $55.5 million; $11.0 million in equity
  • 248 apartment units comprised of five 4-story elevator-served apartment buildings
  • 24-month estimated construction period
  • Adjacent to shopping and transit
  • 12 miles from Boulder
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Enclave Town Center

Erie, CO

Groundbreaking March 2020

Granite Capital Group plans to develop approximately 20 acres of vacant land consisting of “for rent” four-plex style homes, four-story apartments, and townhomes in Erie, CO as part of the Erie Town Center Master Plan.  More information on the Erie Town Center Master Plan can be found here. The development provides excellent walkability to Erie’s Community Center located adjacent to the property which offers a variety of amenities including a 2-story fitness area, indoor track, aquatic center, indoor gymnasium, and more.  Future retail and grocers will also be within a 5-minute walking distance as Regency develops the square parcel on the corner of Erie Parkway and East County Line.

ETC’s close-in, suburban location allows commuters quick access to Boulder (12 miles to the west) and Downtown Denver (25 miles to the south) at a more affordable price than properties located in the metros.  Recent trends indicate an exodus of major metropolitan areas by aging millennials in search of more affordable family-friendly communities, and Enclave Town Center is strategically positioned to meet the demand with competitive rents, great walkability, and excellent access to nearby employment hubs and school districts.

Investment Highlights:

  • 7-year hold period with annual ROI of ~19.0% through cashflow and appreciation
  • Cashflow after stabilization approximately 11% per year
  • Total project cost of $66.8 million; $13.4 million in equity
  • 308 units featuring three 4-story elevator-served apartments, townhouses, and 4-plexes
  • 24-month estimated construction period
  • Property will wrap a 20-acre to-be-built, grocery-anchored retail town center