Ballpark Lofts Apartments
A LEGACY PARTNERS RESIDENTIAL DEVELOPMENT
Chuck Bailey–Former Senior Vice President
Hampden Ave. and South Dayton St.
Aurora, Colorado
Salient Facts
- Commencement: 1998
- Completion: 2003
- Type of Construction: Poured in-place concrete, steel interior studs
- Total Development Cost: $60.5 million
- Total Units: 339 plus 16 commercial suites
- Average Unit Size: 875 SF
- Cost Per Unit: $179,000
- Cost Per NSF: $204
- Site Size: 3 acres
- Density: 118 units per acre
- Parking Structure: 457 spaces
Development Strategy
- The cumulative product of over six years of planning, rezoning, construction, marketing and leasing efforts; Ballpark is among the most expensive, institutional type of rental housing in the City of Denver.
- The concept was to create a rental community that provided a true loft like product with exposed concrete floors and ceilings along with higher end finishes like granite counter tops, hardwood floors and an upgraded amenity and interior finish package.
- The assemblage of the site comprised six separate ownerships including the vacation of an alley and the relocation of infrastructure improvements out of the alley to the street. Railway lines were also removed on several sides of the project.
- The project was financed by raising over $14 million of equity from a joint venture partner.
- The construction process was extremely involved due to the commercial nature of the building (concrete) and the fact that a six-level, 457 space parking garage was included in the project. The building was a new concept utilizing plans that were custom designed for the site and the market.
- The marketing process integrated the unique location and architectural elements of the community to present a product that was compatible with its physical surroundings. The “Ballpark Lofts” concept played heavily on the baseball theme incorporating old time slogans into the individual unit names. The brochure was even produced to mimic a set of baseball trading cards complete with a stick of gum!