McWhinney to break ground on 17-story 38th and Blake apartment building

This story first ran on BusinessDen.com, a BizWest news partner.

DENVER — McWhinney Real Estate Services Inc., the development firm with offices in Denver and Loveland, said Monday that it will break ground this month on FoundryLine, its 17-story apartment building at 3750 Blake St. in the River North neighborhood of Denver.

The 0.92-acre site is across the street from RTD’s 38th and Blake rail station. McWhinney is developing the project in conjunction with PGIM Real Estate, part of Prudential Financial.

SPONSORED CONTENT

Federal District Court Rules Corporate Transparency Act Unconstitutional . . . But Most Small Businesses Must Still Comply

Lyons Gaddis Real Estate and Business Attorney Cameron Grant shares important details of the Corporate Transparency Act (CTA).

McWhinney purchased the property in 2019 for $6.5 million from the Urban Land Conservancy, a Denver-based nonprofit.

The company is taking advantage of a city zoning overlay district, which allows developers to build higher than zoning would normally allow in exchange for incorporating income-restricted housing. McWhinney is then going above the number of units required by the district, as part of a deal it struck with ULC in exchange for a lower purchase price in 2019.

In total, FoundryLine will have 348 apartments, according to McWhinney. Thirty of them will be restricted to those making 80% or less of the area median income.

The building will also have 14,000 square feet of ground-floor retail and restaurant space. A parking garage incorporated into the building will have 282 spaces.

Amenities will include a rooftop pool and fitness center on the 16th floor.

Hensel Phelps is the project general contractor. AvroKO, Craine Architecture and Dig Studio Office of Architecture are involved with the project design.

McWhinney already built one apartment building on the other side of the 38th and Blake station, although that one, at 3609 Wynkoop St., has only 84 units. McWhinney sold it for $23 million in late 2019.

More recently, the firm bought a hotel near Union Station in late 2020 for $38.5 million.