Mill Creek continues to grow its Denver-area portfolio with the development of Modera Observatory Park, located in the highly desirable University of Denver neighborhood south of downtown. The transit-oriented community features 275 apartment homes amongst two 5-story, wood-frame buildings over one podium level and one level of subterranean parking. The community operates under the company’s Modera brand name, reflecting its location near the venerable park that borders the area and the University of Denver.

Modera Observatory Park offers studio, 1- and 2-bedroom homes with an average of 770 square feet, in addition to four townhomes on the second floor of the west building. Amenities include a resort-style swimming pool, fitness center, leasing office and clubhouse housed in the east building, while the west includes mountain and downtown views and a barbecue area on the podium deck. The subterranean garage contains 332 parking spaces, or 1.02 per bedroom for a community primarily consisting of studio and 1-bedroom homes.

Modera Observatory Park benefits from a prime location near Interstate-25, the primary north-south thoroughfare of the city. I-25 provides convenient access to downtown to the north in addition to the Denver Tech Center to the south, which is the city’s primary business hub to the south that contains 425,000 professional jobs. The site is within a half-mile of the University Light Rail stop, which provides access to many of the city’s key locales, most notably downtown and the Tech Center. South University Boulevard is within walking distance, along with its eclectic mix of dining, shopping and nightlife destinations.

The Observatory Park/University of Denver submarket is high-end and borders the affluent Cherry Creek and Washington Park neighborhoods, each of which contain an abundance of homes priced in the $1 million range. The University of Denver is within walking distance and is one of the country’s highly respected private schools, with about half of the student population of nearly 11,500 consisting of graduate and doctoral students. The university also is home to the Sturm College of Law and has received upwards of $450 million in upgrades and renovations over the past several years.