The Emerson
July 19, 2023
On March 30th, Golden, CO-based Confluence Companies closed on a $70 MM construction loan with US Bank to finance a ground-up development called The Emerson. This is the 7th construction loan Confluence has closed with US Bank over the past 10 years.
The Emerson is a 14-story catalytic multifamily development in Englewood, Colorado. The project consists of 264 market-rate for-rent apartment units with 25,700 square feet of amenity and entertainment space. There will be 384 parking spaces for residents.
The Emerson is designed to cater to medical professionals, visiting nurses, maturing millennials, and empty nesters as the project will directly address the lack of upscale housing in Englewood’s Medical District. The average unit size is 887 square feet and priced at $2.90 / SF. The floorplans consist of a mix of two-story townhomes, studios, one, two, and three-bedroom floor plans.
At 14 stories, The Emerson will be the tallest building in Englewood and will feature an amenity-rich design. Amenities include an expansive 7th-floor demo kitchen and clubroom that opens up to a large rooftop pool deck with unobstructed views of the mountains and Downtown Denver. Health and wellness rooms on level 5 include a rejuvenating steam sauna, cold plunge, and massage treatment rooms. The first floor will include a leasing lobby, coffee bar, dog spa, bike storage, and a 1,750-square-foot club quality fitness room and yoga studio.
The site provides proximity to all that Englewood offers, including their downtown strip on South Broadway, the city center, River Point commercial complex, the University of Denver, and several public and private golf courses, including Cherry Hills Country Club. With easy access to Highways 285 and 85, the Property is conveniently located seven miles from Downtown Denver and six miles from the Denver Tech Center. It is three-quarters of a mile from the Englewood City Center and RTD light rail stop, half of a mile from Englewood High School, two and a half miles from the University of Denver, and two miles from Cherry Hills Country Club. The Project is the only multifamily development located inside Englewood’s Medical District and is adjacent to Craig Hospital and Swedish Hospital.
The Swedish Medical Center, part of Health One’s network, and Craig Hospitals are a large part of Englewood’s economy, employing over 3,500 people full-time. Employees, patients, and guests make up more than 5,000 visitors to the medical campus per day. The Denver Post recently named the Swedish Medical Center a Top Workplace of 2021.
The Emerson is designed to add to the walkability of Englewood’s Medical District, bringing housing to an already vibrant community. The Medical District is full of employment opportunities, amenities, retail, restaurants, and commercial space, but is missing elevated community living. The Emerson will fill the void and provide a highly desired luxury lifestyle at market rental rates in the Medical District.
The development broke ground in November 2022 and is scheduled to be completed in January 2025.
About Confluence Companies:
Confluence Companies is a vertically integrated real estate developer, investor, builder, and property management company based in Golden, Colorado. Founded in 2006, Confluence has completed close to $2 billion of mixed-use and multifamily developments along the front range of Colorado. Learn more at www.confluenceco.com