Gravitas Development Group Deepens Investment in Denver, Enhances Communities with New-Build and Adaptive Reuse Residential and Commercial Developments

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Group’s Projects Reflect the Unique Personalities of Their Surroundings, in Denver’s Historic and Most Up-and-Coming Neighborhoods

Based in Denver, Gravitas Development Group is a real estate development firm founded in June 2008. With more than $16.5 million currently invested in, or under development in, the popular neighborhoods of LoHi, West Highland, Ballpark, and Wash Park West, Gravitas strives to provide communities with thoughtful, creative, and environmentally-friendly concepts, and designs that embrace and enhance each neighborhood’s unique identity.

“Our development philosophy is to seek out interesting boutique real estate opportunities – whether they be raw land or outdated buildings – in Denver’s most sought-after urban areas, and transform them into thoughtful neighborhood enhancers,” said Ryan Diggins, Gravitas Development Group partner. “We pay close attention to the personality of each area in which we develop, ensuring both our residential and commercial projects are in-line with its disposition, and are unique and tailored to not only the neighborhood, but also the street and the individual buyer.”

Well-funded and not highly-leveraged, Gravitas thrived during the tough economic climate in which it launched by buying and selling depressed land, rather than developing in an oversaturated market. When the economy and real estate landscape began to improve a few years later, it then ramped up development, focusing on urban infill properties in Denver’s most up-and-coming neighborhoods. In efforts to remain one of Denver’s most respected and low-risk developers, Gravitas never acquires a project before financing on the last has been paid off or is fully performing. This system is proving successful; 40 percent of its single-family homes at Boardwalk 31, located just east of Highlands Square, are under contract pre-completion, and more than half of its total combined 26,500 sq. ft. of commercial space at 660 South Broadway and retail/office space at Gravitas 32 in Highlands is pre-leased.

Current Projects
Gravitas has developed a collection of successful residential and commercial projects throughout Denver. Current projects include a residential development in Highlands Square; and neighboring commercial office and retail space on 32nd and Irving; a fully renovated commercial space on South Broadway; a mixed-use restaurant and office project on Umatilla Street in LoHi; and an innovative shipping container office space concept in Denver’s Ballpark Neighborhood.

Centrally located in Denver’s West Highland neighborhood and just steps from Highlands Square, Boardwalk 31 was completed June 1, and is comprised of five newly-built, detached single family homes. Mixing modern aesthetics with traditional quality craftsmanship, each individual home at Boardwalk 31 celebrates the rich history and character of this unique neighborhood, while accommodating the needs of today's urban family. Each home features a pitched roof, characteristic of the neighborhood; unique, flexible indoor/outdoor living space; ample natural lighting facilitated by large windows and skylights; and an enviable location near the eclectic and popular restaurants and shops in Highlands Square. Each of the approximately 2,050 sq. ft. Boardwalk 31 homes start at $565,000.

Located just one block north of Boardwalk 31 is Gravitas 32, an 11,000 sq. ft. newly-built mixed-use retail and office building. Pinche Taqueria, named as home of one of the top ten best tacos in the nation by Epicurious.com, and Orange Theory Fitness, an innovative fitness concept focusing on interval training, will be the marquee ground-floor tenants.

Situated on one of Denver’s most unique urban infill sites, 2930 Umatilla boasts a prime location at the epicenter of Denver's LoHi neighborhood, adjacent to popular restaurants Linger, Lola and Vita. 2930 Umatilla is perched high above Denver's Central Platte Valley, and features panoramic views of Denver’s downtown cityscape as well as the front range’s Rocky Mountains. With design led by renowned Denver-based architecture firm Studio Completiva, 2930 Umatilla is an ambitious mixed-use project inspired by architecture in high-density, vibrant cities, including the hometown of the principal architect on the project, Seoul, South Korea. Following these models, the typical commercial building has been flipped, placing the mass of the structure on top of a parking podium, and receding the front of the building to only showcase a one-story restaurant, and thus fit in visually with the smaller scale buildings on Umatilla Street. Ample use of accordion windows on all five-stories of the building will create an “outdoor patio community” with the other businesses surrounding the structure including Linger, Vita, and Little Man Ice Cream.

Unlike the new builds that Gravitas has in development, 660 South Broadway will be an adaptive reuse project, and future home to more than 15,700 sq. ft. of restaurant and retail space. The original structure was once home to the historic General Hardware. The large space was originally comprised of three brick buildings constructed in the 1930s, and has since fallen into disrepair. Gravitas is restoring these structures and peeling back the stucco ceilings and walls which have been hiding the unique architectural elements of the original building. Upon completion, this vibrant urban center will lease retail space ranging from 2,000 sq. ft. to 15,700 sq. ft.

Possibly Gravitas Development Group’s most innovative project to-date, the Shipping Container office spaces on 25th and Larimer in the Ballpark Neighborhood, will provide small work spaces to retail and office professionals. Inspired by pop-up storefronts in London and Asia, office spaces will range from 320 sq. ft. to 2,500 sq. ft. The spaces will be complete and available to lease by April, 2013.

About Gravitas Development Group
Based in Denver, Colorado, Gravitas Development Group is a real estate development firm founded in June 2008. Well-funded and not highly-leveraged, Gravitas seeks to provide communities with thoughtful, creative, and environmentally-friendly concepts and designs. Each Gravitas development is created with the recognition that each city, community, neighborhood, and street corner has a unique identity; which Gravitas not only respects, but aims to enhance with each of their developments. For more information, visit http://www.gravitasdevgroup.com, or call (720) 335-6105.

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Jordan Blakesley

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