$90m in capital secured for OZ multi-housing development near Denver

Prime West has plans to develop Claro at High Point, a 365-unit, class A, garden-style multi-housing development in an opportunity zone within the Denver suburb of Aurora, Colo.

JLL Capital Markets arranged $90.4 million in combined joint venture equity and construction financing for Claro at High Point.

Claro at High Point is in the High Point live-work-play master-planned community, which spans 1,800 acres with plans for 3,000 single-family and multi-housing households, 10 million square feet of business park development, up to 500,000 square feet of retail, 300 acres of open space, and 13 miles of hiking and biking trails.

Once completed in summer of 2023, Claro at High Point will offer residents one-, two- and three-bedroom units averaging 908 square feet and feature balconies or patios, central A/C, full-sized washers and dryers, kitchen islands, and dishwashers. The community amenities will include a pool and spa with cabanas, co-working area, clubhouse, c