LOVELAND, Colo. – McWHINNEY, Colorado-based real estate investor and developer with expertise in multifamily, commercial, mixed-use and hospitality assets and master developer of Centerra, has begun construction on the first phase of its latest multifamily community in Loveland’s Centerra master-planned community.
Named Railway Flats, the project is planned as two phases. Recently breaking ground, phase one will deliver 240 multifamily homes and is anticipated for completion in summer 2020. The second phase will consist of 180 homes and is planned to break ground in the second quarter of 2020 with anticipated completion in the fourth quarter of 2021.
As the project owner and developer, McWHINNEY will add a total of 420 multifamily homes to Loveland with the two-phase project, to help meet the market demand of Northern Colorado’s fast-growing population. The project represents the fifth apartment development in Centerra and, upon completion, will mark a total of more than 1,100 apartment homes within the master-planned community.
“Not only is this project a quality addition to Loveland’s rental housing market, but it also represents McWHINNEY’s strong record of multi-family development in Northern Colorado,” said David Jaudes, McWHINNEY’s vice president of multi-family development. “This project will bring the total number of apartments delivered by McWHINNEY in Northern Colorado to more than 2,000, and we look forward to the continued expansion of our multi-family portfolio.”
The Railway Flats project is located in eastern Centerra off Sky Pond Drive and Centerra Parkway, just across the street from Chapungu Sculpture Park. The first phase will consist of a three-story, 297,331-square-foot multifamily development delivering 48 studio, 112 one-bedroom, 75 two-bedroom and 5 three-bedroom apartments. The property will feature open green space following urban design principles with amenities including an indoor/outdoor pool, clubhouse and golf simulator. Craine Architecture serves as the architect and Bryan Construction as the general contractor for the project.
“We’re proud to continue growing the multifamily offerings in Centerra and support Northern Colorado’s growing economy,” said David Crowder, general manager of Centerra and vice president of community development for McWHINNEY. “This apartment community will provide much needed and high-quality rental housing while offering access to the varied and vibrant amenities within Centerra.”