Carraway on Penn to offer sophisticated, attainable apartment living with plans to accommodate increasing residential demand
Denver, Colo. — Confluent Development, Pinkard Construction and OZ Architecture, in partnership with Narrate Companies, celebrated the groundbreaking for the project partners’ first multifamily project, Carraway on Penn, on December 7th, 2021.
"Carraway on Penn represents a unique project for Confluent Development in the Platt Park neighborhood, one that will accommodate the increasing demand among residents for high-end, sophisticated apartment living in this community but at more attainable price points," said Santiago Escobedo, development director at Confluent Development. "The project will incorporate features that adapt to today's changing workplace, such as shared workspaces and boutique, upscale finishes, and will appeal to those seeking an active, yet simplistic lifestyle with convenient access to mass transit, parks and recreation and nearby shopping and dining."
This marks the official start of construction that is anticipated to continue into October 2022. The project consists of a .3-acre site to be developed into approximately 34,619 square feet of a new 42-unit multifamily residential property offering amenity space and onsite covered parking.
“As we celebrate the important milestone of breaking ground on our first project with our partners at Pinkard Construction, OZ Architecture and Narrate Companies, we look forward to expanding our multifamily asset class and our continued collaboration with these best-in-class teams, all of whom bring impressive, proven track records in the industry,” said Bill Wells, construction manager with Confluent Development.
“We couldn’t be more excited to partner with Confluent Development on this exciting project in an extremely supply constrained submarket in Denver. Working in partnership with OZ Architecture and Pinkard Construction, we have a first-class team and look forward to bringing this project to fruition,” said Adam Fenton of Narrate Companies.
“The complex site geometry, a triangle, inspired our team pay special attention to key corners and show restraint along the street edges. Sensitivity to the building entries and window openings led to a unique asset that will provide much needed housing in the heart of South Pearl district,” said Matt Chiodini, Associate Principal at OZ Architecture. “Our goal with Carraway on Penn was to complement the historical components of the neighborhood while providing a thoughtful, modern living experience that will deliver lasting value.”
Tony Burke, President and COO of Pinkard, says the project is a natural fit for Pinkard’s teams who have extensive experience building multifamily projects across Colorado.
“Confluent Development is doing tremendous work bringing new and innovative multifamily spaces to Denver and we’re very excited to be a part of the Carraway project,” said Burke.
To date, Pinkard has completed more than 150 senior living, multifamily and affordable housing projects, with a combined value of $1.8 billion.
About Confluent Development
Confluent Development is a leading full-service real estate investment and development firm that owns and develops ground-up commercial real estate throughout the United States. Confluent Development is an industry expert with more than 25 years of experience across diverse product types including office, retail, industrial, senior housing and multifamily developments. For more information, visit ConfluentDev.com.
About Pinkard Construction Company Pinkard Construction Company is a general contractor specializing in both ground-up, renovation, CM/GC, and design-build projects. Our experience includes many senior living, affordable housing, multi-family, recreation, municipal and commercial projects. We focus on maximizing value while supplying durable, life-cycle-tested materials and construction techniques that are owner and facilities management-friendly. Pinkard’s focus is to “Partner Better, Plan Better, Build Better.” Our project teams are specialists in forging long-term owner/architect/contractor relationships that create life-long value. For more information: www.pinkardbuilds.com
About Narrate Companies
Narrate Partners is a Denver-based firm specializing in the investment and development of multifamily and mixed-use real estate in major metropolitan markets throughout the Western U.S. Narrate ensures that each project, created to collaborate community, culture and commerce, delivers enduring value to its local environment. Their portfolio includes a diversified mix of ground-up development and existing value-add properties with a portfolio of approximately 1,000 units. Narrate’s investment thesis relies on patience and discipline, focusing exclusively on well-located assets that offer immediate value creation and long-term stability. For more information visit www.narrateco.com
About OZ Architecture
OZ Architecture was founded on the belief that collaboration coupled with diversity sparks design creativity. With roots dating back to 1964, Denver-based OZ has worked on some of Colorado’s most influential projects, including urban living, mixed-use, office, education, civic, cultural, retail, hospitality and urban planning work. With more than 150 architects and interior designers in seven primary practice areas, OZ holds a goal of creating beautiful places with lasting value for the communities they serve. For more information, please visit: www.ozarch.com