The 10.6 acres of land for the project was sold recently for $2.6 million, according to Boulder County property records. Imago Lafayette LLC acquired the land from Highland Properties 711 LLC.
Milestone Development Group LLC, a Denver-based developer, is building the development, which is adjacent to the Prana apartments. Milestone built Prana and sold it for $36.1 million in December.
According to the city of Lafayette, construction permits for Prasanna were issued in December. The project’s groundbreaking has been on hold while the developers finalize the construction loan.