"We’re also thrilled to give back to the community by donating parcels to three wonderful local nonprofits."
BOULDER, Colo. (PRWEB) July 16, 2018
Trammell Crow Residential, a national multi-family real estate developer, today announced that it will host a groundbreaking ceremony at 11 a.m. on July 17 to honor the start of construction on Diagonal Crossing, a mixed-use apartment community on the northern edge of Boulder.
TCR is donating three of the six parcels to local nonprofit organizations – Studio Arts, Meals on Wheels and Naropa University, which will utilize the space for community art classes, a meal distribution facility and faculty housing, respectively. The remaining three parcels will consist of one with 250 market-rate homes, one with 85 affordable homes and another with dedicated retail space. The affordable homes will be developed and owned by a partnership of Allison Management and Koelbel and Company.
“As the vast majority of Boulder’s housing stock consists of single-family homes and smaller buildings converted into apartments, the demand for quality apartment housing has grown well beyond the available homes in the market,” said Jarvie Worcester, Managing Director of Mountain States Division for TCR. “We believe the Diagonal Crossing community will help meet the demand while also creating housing opportunities for the firefighters, nurses, police officers and others who work to serve and protect the community. We’re also thrilled to give back to the community by donating parcels to three wonderful local nonprofits.”
Studio Arts is a nonprofit art education organization that provides high-quality ceramics programs the Boulder Pottery Lab and partners with similar arts organizations. The Boulder chapter of Meals on Wheels provides fresh, nutritious meals to people in need in the city, regardless of age or income. Naropa University is a Buddhist-inspired private liberal arts college based at 2130 Arapahoe Avenue.
Diagonal Crossing will achieve LEED Silver certification and will be built to a minimum 60 HERS Index, which measures home energy efficiency. As the master developer, TCR will handle the logistics for all six parcels, including utilities, landscaping, roads, sidewalks and streetlights.
Situated at the northern entrance of Boulder 3600 State Highway 119, the site, which has been vacant for many years despite its prime location, is bordered by Independence Road to the south, 47th Street to the west and Highway 119 to the east. Two out-lots at the community will connect to green space and a multi-use recreational trail.
Diagonal Crossing will consist of studio, one- and two-bedroom homes. Community amenities will include a 6,000-square-foot clubhouse and fitness center, outdoor swimming pool and spa, bike storage, B-Cycle station and a landscaped center promenade with public art displays. Apartment interiors will be equipped with quartz countertops, tile backsplashes, stainless steel appliances and nine-foot ceilings. Many will feature covered parking and storage lockers.
About Trammell Crow Residential & Crow Holdings:
Trammell Crow Residential (TCR) is a national multi-family real estate developer with over 40 years’ experience and a local presence in 12 key U.S. markets. Since 2012, TCR has developed, financed and asset managed more than $5 billion of multi-family communities totaling over 20,000 units, delivering amenity-rich communities in economically thriving locations nationwide. TCR and Crow Holdings Industrial (CHI) are the development divisions of Crow Holdings, a real estate investor, developer and owner with a global multi-asset investment platform and longstanding industry relationships built on trust, integrity and partnership. For more information, please visit TCR.com.