{"id":1248,"date":"2026-06-04T23:03:25","date_gmt":"2026-06-04T23:03:25","guid":{"rendered":"https:\/\/coloradospringsmoverss.com\/?p=1248"},"modified":"2026-06-04T23:03:25","modified_gmt":"2026-06-04T23:03:25","slug":"denver-developer-launches-400m-rino-apartment-project-near-rtd-light-rail-station","status":"publish","type":"post","link":"https:\/\/coloradospringsmoverss.com\/?p=1248","title":{"rendered":"Denver developer launches $400M RiNo apartment project near RTD light rail station"},"content":{"rendered":"<div>\n<div><strong>Getting your Trinity Audio player ready&#8230;<\/strong><\/div>\n<div>\n<p>Sean Campbell has broken ground here before.<\/p>\n<p>The CEO of Denver-based Formativ kicked off construction on a 16-story, 358-unit apartment complex Wednesday at 38th and Blake streets in RiNo. The project is next to another 16-story apartment building currently under construction, which Campbell started work on last year.<\/p>\n<p>Read more <a href=\"https:\/\/coloradospringsmoverss.com\/?p=1246\">Colorado soldier dies during training exercise in Middle East<\/a><\/p>\n<p>\u201cOutside of Cherry Creek, there\u2019s not a lot of cranes in the air. \u2026 You\u2019re going to see a cliff where there\u2019s nothing new coming onto the market,\u201d Campbell said.<\/p>\n<p>\u201cThe idea was to open up into a friendly market.\u201d<\/p>\n<p>The building he just broke ground on will be market-rate, and will come with fifth-floor and rooftop decks along with amenities such as a sauna and cold plunge.<\/p>\n<p>The other apartment building is restricted to those making between 60% to 90% of the area median income, and will come with a pool and gym. Also planned for the 2.1-acre site is a 180-room hotel, set to begin construction early next year.<\/p>\n<p>Part of the construction entails building a pedestrian promenade that leads directly to the Regional Transportation District\u2019s 38th and Blake rail stop. The ground floor of the buildings will hold a combined 15,000 square feet of retail space, which will include three restaurants.<\/p>\n<p>\u201cI was told this morning that the hotel alone will be about a $30 million annual budget, just in the hotel alone. \u2026 This is a $400 million development going into the ground,\u201d Campbell said.<\/p>\n<div>\n<\/div>\n<p>The project that broke ground Wednesday will cost $196 million to develop, he added. Formativ has other active projects in RiNo, down at Denargo Market, and is also developing an apartment complex for senior citizens in\u00a0Littleton.<\/p>\n<p>Read more <a href=\"https:\/\/coloradospringsmoverss.com\/?p=1244\">King Soopers opens new store in Denver as redevelopment plans emerge for Belcaro site<\/a><\/p>\n<p>Campbell began\u00a0buying\u00a0pieces of the site in 2016. Back then, an office and hotel development was\u00a0anticipated, with consulting firm World Trade Center Denver expected to anchor the campus.<\/p>\n<p>The developer recalled starting site work on the project in the days leading up to the pandemic, which halted construction.<\/p>\n<p>\u201cWe all thought that was going to be two or three weeks, and we\u2019d strike the band back up. But the band never got back together,\u201d he said.<\/p>\n<div>\n<\/div>\n<p>The World Trade Center\u00a0announced\u00a0in 2021 that it would open in a different location. Campbell\u2019s current plans for the site were first\u00a0reported\u00a0in 2024.<\/p>\n<p>The following year, he broke ground on the first apartment complex. Unlike most income-restricted housing projects, Campbell\u2019s did not receive a penny of public money. When asked how he made the math on that work, he had a simple response.<\/p>\n<p>\u201cWe\u2019ve got some great partners.\u201d<\/p>\n<p>Campbell\u2019s apartment projects aren\u2019t the only ones to break ground in RiNo recently. In April, fellow Denver developer Jon Dwight\u00a0started construction\u00a0on a 13-story, 301-unit apartment building two blocks up the street.<\/p>\n<p>Read more <a href=\"https:\/\/coloradospringsmoverss.com\/?p=1242\">Wildfires are making the US smoggy again, reversing progress on cleaner air, study finds<\/a><\/p>\n<p><em>Read more from our partner, BusinessDen.<\/em><\/p>\n<p><em>Get more business news by signing up for our Economy Now newsletter.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Denver Real Estate developer Formativ broke ground on a 358-unit apartment building in RiNo near RTD&#8217;s 38th and Blake station.<\/p>\n","protected":false},"author":1,"featured_media":1247,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,4],"tags":[],"class_list":["post-1248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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