$54.5m secured for development of Colorado multi-housing community

Lang Partners and Realty Capital Residential have secured $54.5 million in construction financing for Tree Farm Lofts, a 196-unit, multi-housing community located in Basalt, Colo.

With a completion date of July 2024, the six-building property will be wood-framed construction on concrete post-tension slab foundation. The building mix will include two-, three- and four-story structures mixed throughout the development, with all three- and four-story buildings served by elevators and three buildings providing sub-grade parking. Community amenities will feature a clubhouse, ground-floor retail, a leasing office, 1,900 square feet of co-working space, a fully equipped fitness center, resort-style pool and spa, multiple amenity decks with fire pits, bike, kayak and ski storage, and other first-class amenities.

Located at 5 Tree Farm Drive, Tree Farm Lofts is ideally situated along Highway 82 between Glenwood Springs, Colo., and Aspen, Colo., providing access to the key econo