Developer pays $7.5M for site of mixed-use project in northeast Boulder

BOULDER — Trammell Crow Residential has closed on the purchase of 20 acres of land in northeast Boulder, where the Dallas-based company will build Diagonal Crossing, a mixed-use development of 357 apartments, offices for nonprofits, a restaurant and a green space.

Diagonal Crossing Apartments LLC, an entity registered to Trammell Crow Residential in Dallas, paid $7.5 million to Birch Mountain LLC for the triangle-shaped parcel of vacant land, according to public records.

Nonprofits Meals on Wheels and Studio Arts are expected to occupy offices in the complex.

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The site, commonly called McKenzie Junction, is between the Diagonal Highway, Independence Road and Foothills Parkway. It has proved to be a challenge to developers. The site has been looked at by several developers during the past decade, having drawn interest from a big-box retailer, home developer and a private business interested in building a sports complex.

Its close proximity to high-volume traffic presents challenges to access because of the highways. It also is near the Boulder Municipal Airport.

The city of Boulder’s Planning Commission approved this project April 20, and since the Boulder City Council chose not to call the project up review, it has the green light.