1275 Newland Street
Land | 0.543 acres
Marketing description
This project is a 36-unit multifamily apartment building located at 1275 Newland St., adjacent to the Lamar Station Light Rail Station in Lakewood, Colorado. The proposed apartment building will have 29,264 gross square feet over four stories. The wood-frame building will contain 22 tuck-under parking spaces, six ground level units, 12 units each on the second and third floors and six units on the fourth floor. The net rentable square feet comes in at 20,532 SF. The zoning for this lot is Mixed-Use - Residential - Urban (MRU) and the allowed uses includes multifamily use. As the lot borders a residential zone to the west, the proposed building honors the bulk plane limitations from the west property line. The proposed maximum height for the building is 40'. Parking requirements are waived on account of the proximity to Lamar Station per HB24-1304. Open space requirements are satisfied with 30% of site area devoted to non-building, non-parking and non-drive aisle amenities. EDM requirements for a 29,264 SF building are 29 points.
The proposed construction type is Type V-A and will be sprinklered throughout. The residential occupancy falls under the R-2 use and the parking area is considered an S-2 use. The required fire separation between R-2 and S-2 is 1-hour. The primary structural frame, interior and exterior bearing walls and floor and roof construction is 1-hour fire resistance rating.
Of the thirty six units, six will be one-bedroom units and the rest shall be 2-bedroom units.
Investment highlights
- Located in Federal Opportunity Zone
- MRU Zoning Designation allows for mixed commercial/residential uses
- Sale includes existing ALTA survey, previously approved plans for 14-unit town home project, previous construction budget, and a Feasibility Study completed in 2022
- Property is located two blocks from Lamar Light Rail Station
- Muller Architecture has confirmed there is no parking requirement due to proximity to light rail line, which should allow for 36 residential units with 22 parking spaces, based on current zoning code requirements
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