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Greystar JV begins construction on $83m asset in Colorado
Transactions - OCTOBER 27, 2022

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Greystar JV begins construction on $83m asset in Colorado

by Andrea Zander

Greystar and Origin Investments have begun construction on a $83.1 million joint venture community, Elan Rio Grande in Colorado Springs, Colo., located an hour south of downtown Denver.

This is the third Greystar Origin development in the Colorado Springs area.

The community will consist of 57 studios, 109 one-bedroom apartments, 28 two-bedroom apartments and 13 three-bedroom apartments ranging in size from 651 square feet to 1,622 square feet. Amenities include co-working space, fitness center, pool, sky lounges, bike storage, and 207 parking spaces in a two-story building.

Completion of the property is scheduled for fall 2024.

Elan Rio Grande will be built adjacent to another property in the partnership’s portfolio, Ensley, a $66 million multifamily apartment complex that will span five stories and 277 apartment homes.

All three assets in Colorado Springs —Elan Rio Grande, Ensley and the 321-unit Fiona— are in opportunity zones and backed b

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