The Confluence, the newest ultra-luxury multifamily high-rise tower in Denver is well into its first stage of development. A number of local companies have partnered in the project, including full-service commercial real estate firm PM Realty Group (PMRG), United Builders Service and National Real Estate Advisors.
The 288-unit, 34-story development is located on a total of 1.21-acre at 2166 15th Street, near the confluence of the South Platte River and Cherry Creek. The Confluence will offer high-end renters studio, one-, two- and three-bedroom apartments with monthly rents ranging from $1,500 to $12,000 as the ultimate urban haven.
“The Confluence is setting the bar for luxury renters,” executive vice president of Houston-based PMRG Bryant Nail tells MHN. “There will be nothing like it currently on the market. The Confluence will attract those who want the high-end, condo-like finishes, but are not in the market to buy.”
The steadily growing economy of the state made this the right time and place for the commercial development. Rent growth has tallied more than 6% for two years. Denver occupancy stood at 95.8% at the end of 2nd quarter 2014. “Rising construction costs proved a challenge and affected our original timeline, but we engaged the right third-party companies like PM Realty Group (PMRG), United Builders Service and National Real Estate Advisors to get us back on track,” he adds.
Upon completion, The Confluence will become the tallest building in Riverfront Park. Some of the features and finishes to give the apartments their high-end urban vibe will be hardwood floors, solar shades in every home, gourmet kitchens with granite countertops and Frigidaire Professional Gallery/Electrolux appliances. Select apartments will also showcase floor-to-ceiling windows. Penthouse residences as well as some other select homes will offer direct elevator access.
All residences boast dramatic perspectives on downtown Denver and/or the Rocky Mountains. Intergraded into The Confluence is a ground floor with more than 8,000 square feet of upscale street-level retail and restaurant space, including gyms, shops and cafes. Among the exclusive amenities, available to residents, will be a large terrace with saltwater infinity-edge pool, underwater sound system, heated Jacuzzi, outdoor cabanas and fire pit, Skyline Lounge with catering kitchen, all-inclusive fitness center with top-of-the-line equipment, concierge, dog washing station and 24-hour coffee bar.
As demand for luxury multifamily living in urban areas of the Mile High City increases, The Confluence fulfills this need in the premier Riverfront Park area. Access to the LoDo submarket and South Platte River, the site offers an ideal balance with renters being able to enjoy the serenity of the prime infill location.