55+ housing developer prepares to begin construction in Loveland’s Centerra

LOVELAND — Avenida Partners LLC is due to begin construction on a 180,000-square-foot apartment building in southeast Loveland this month as part of the Centerra master-planned community buildout.

The three-story Avenida Loveland will include 154 units and be located on a vacant parcel just north of the intersection of North Boyd Lake Avenue and east U.S. Highway 34, according to a joint statement between Avenida and McWhinney Real Estate Services Inc.

Floor plans for each unit will range between 650 square feet to 1,300 square feet and are slated to be available in one- or two-bedroom configurations. A representative for Centerra said rents will begin at $1,975 per month.

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The project will also feature fitness rooms, private dining areas, a theater and pool, among other amenities.

Construction is slated to begin next month with plans to start move-ins in the fall of 2022.

Avenida’s project follows in a recent trend of developers building apartment complexes in the region that allow residents only ages 55 and older who don’t want the burden of maintaining their homes, but don’t yet qualify for assisted-living or senior-care homes.

55 Resort Management Corp., a local branch of Dallas-based Edison Equity Partners LLC, already operates a similarly-targeted apartment complex in Windsor and is approaching construction on an age-restricted building along Greeley’s Eighth Avenue.

The Newport Beach, California-based Avenida counts six complexes in its national portfolio, including the Avenida in Lakewood.