Highland Development Company
April 5, 2021
Local Denver Developer, Architect, and General Contractor Break Ground on Micro-Unit Apartment Community
Denver, CO – Local Denver developer, Highland Development Company (HDC), local architect, Studio 646 Architecture, and local general contractor, DIRC Homes, broke ground today on a 52-unit apartment development located steps from the Lakewood Dry Gulch in the West Colfax neighborhood of Denver, Colorado. Signalmen Apartments, as the project is known, is the developer’s premier offering in the for-rent product space. Tributary Capital secured an $8 million construction loan from First Western Trust and provided $1.3 million in preferred equity for the project.
HDC is focused on bringing attainable rental products to the community and Signalmen Apartments is a perfect example of that focus. The team honed in on providing highly livable units while removing the frills that drive rents to increase. “We are excited to add another housing option to the Sloan’s Lake area where the current housing options have increasingly priced folks out. Signalmen Apartments offers residents the chance to live big without the big rent check,” said Paul Malone, president at HDC. “The units are designed with floor-to-ceiling cabinetry to make sure everything in your home has its place, along with extra storage offered in the building. Residents can enjoy a taste of the outdoors with bolt-on balconies and fenced-in yards, a great way to take advantage of the 300 days of sunshine in Colorado,” added Malone.
“We are excited to be breaking ground on another significant project in the Denver area. Signalmen Apartments will be a wonderful addition to our growing portfolio of apartment projects and another step in our ongoing partnership with HDC to bring attainable housing to the community,” said Randy Henckel, president of DIRC Homes.
The community is located in the West Colfax neighborhood, walkable to Sloan’s Lake and Edgewater. Residents will find the Knox Light Rail station one block away, providing access to Union Station in just five stops. The Lakewood Dry Gulch is right across the street, with ample green space to enjoy, along with easy access to countless bike and walking trails in the Denver area.
About the developer: Highland Development Company is a leading developer of uncommon communities that bring people together to share experiences and create authentic connections. HDC builds attainable homes with thoughtful details and signature character that residents are proud to call home. For more information, visit HighlandDevelopmentCo.com.
About the architect: 646 Studio Architecture strives for interesting, beautiful, and community-driven design. Through working respectfully and responsibly with clients, the team is able to deliver on the original passion and vision of a project. For more information, visit 646arch.com.
About the general contractor: Founded in 2012, DIRC Homes, LLC is a people-centric builder providing a consistent and reliable residential construction experience emphasizing both client and homeowner satisfaction. DIRC Homes is redefining home construction through meaningful collaboration and pioneering processes by the development of our people to leverage technology, efficiency, and sophistication throughout the design and construction process. For more information, visit www.DIRCHomes.com.
About Tributary Capital: Tributary Capital provides comprehensive capital solutions, including debt advisory, preferred equity and asset management, to help clients with their commercial real estate projects. With a reputation as some of the most trustworthy and reliable commercial real estate professionals in Colorado, Tributary provides a holistic perspective drawn from extensive experience in capital advisory, investments, development and brokerage. For more information, visit tributaryre.com.