Pollack Shores to develop The Armory in Boulder

BOULDER — Pollack Shores Real Estate Group, an Atlanta-based firm that specializes in multifamily housing developments, will soon begin construction on The Armory, a new residential project in North Boulder.

The project’s initial developer Armory Community LLC, a Boulder group led by Bruce Dierking and Jim Loftus, will remain involved as minority stakeholder.

The Armory, located on a roughly 9-acre plot on Broadway that formerly housed a Colorado National Guard post, will be a 23-building development made up of 201 units of apartments and townhomes and 8,400 square feet of retail space.

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Pollack Shores bought the property for $17.8 million, Boulder County property records show.

 “As a long-term owner, we will build a community that contributes to the vibrancy of the North Boulder neighborhood,” Pollack Shore CEO Steven Shores said in a prepared statement. “We value the site’s storied past, the artists and creative industries in the district and the distinctive character of our surroundings. We look forward to engaging the community as we deliver on Bruce and Jim’s vision.”

Construction of the project, which is located within the North Boulder Arts District, is expected to start this fall and the first residents will likely move in next year.

“The Armory is an important site, not only for North Boulder, but for the entire community, and so it is critical that we deliver a first-class project.  Pollack Shores and Matrix Residential have the resources and experience to deliver and manage a larger, complex project like the Armory, and we are delighted to have the opportunity to partner with them,” Dierking said in a statement. “We have worked closely with the community over the last six-plus years to shape the plans for this site and can’t wait to see it come to life.”

The Mulhern Group will serve as the project’s architect of record; Martines Palmeiro Construction will be the general contractor and JVA Inc will be The Armory’s civil engineer.

Once complete, Matrix Residential will manage the property.

This story has been updated to reflect the property’s sales price.