Mortenson and Pinnacle Partners Break Ground on Revival on Platte, a First-of-its-Kind Full Spectrum Advanced Prefabrication Multifamily Community in Denver
Opportunity Zone project will utilize Mortenson’s full develop/design/fabricate/build capabilities for 200-unit, eight-story community
DENVER, April 10, 2023 — Mortenson, a top-20 U.S. builder, developer, and engineering services provider with four decades of experience in Colorado, alongside joint venture partner Pinnacle Partners, celebrated the groundbreaking of Revival on Platte in Denver’s Sun Valley neighborhood, a first-of-its-kind multifamily project that will showcase the full breadth of Mortenson’s develop, design, fabricate and build capabilities.
“We’re thrilled to partner with the Pinnacle team on this incredible opportunity, as both organizations share a commitment to development that addresses core community needs,” said Brian Fitzpatrick, Vice President and General Manager of Mortenson Denver. “We have a long history in Denver of bringing together our develop, design and build capabilities for our project partners. Fabrication is the final piece in this puzzle, and we can’t wait to show the market what our BLUVera team is capable of on this project.”
The project, Revival on Platte, is situated on a .9-acre building site in a designated Opportunity Zone adjacent to the South Platte River. The new 234,156 SF development will feature 200 studio, one- and two-bedroom apartment options across eight stories with two levels of parking. Residents will also have access to an on-site gym, business center and a rooftop amenity deck offering city and mountain views. The entire structure will be built with Mortenson’s cold-formed metal stud, steel-framed structural system with prefabricated interior and exterior walls.
“In these current challenging economic times, we are particularly excited to close on our construction financing and break ground on Revival on Platte with our development partner. This transformative development will bring much-needed housing to Denver’s rapidly growing Sun Valley neighborhood,” said Leo Backer, Managing Partner from Pinnacle Partners. “Revival on Platte serves as a shining example of the potential impact of Opportunity Zones on communities across the country.”
Close to downtown attractions – including universities at the Auraria campus, Meow Wolf and Empower Field – the new multifamily development is additionally near public transit systems and offers direct access to roughly 90 miles of bike trails. Residents will also have access to eight electric cars via a third-party app, further expanding transit options.
“We’re always looking for ways to optimize processes for our clients and for our own development team,” said Taber Sweet, Vice president of Real Estate Development at Mortenson Denver. “This level of vertical integration represents the full manifestation of that goal. The location of this project is also incredible, as it’s adjacent to Denver’s Stadium District Master Plan, and aligns well with the comprehensive development strategy for the Sun Valley community.”
SOURCE Mortenson