GID breaks ground on Manhattan II in Denver

GID Urban Development Group, an affiliate of The General Investment & Development Cos. (GID) has begun construction on Manhattan II, a residential multifamily development. The 134-unit apartment building is located in Riverfront Park, an urban master planned mixed-use neighborhood. The project is owned within a joint venture consisting of GID and an institutional pension fund investment partner. The new development represents the second phase of the Manhattan, an adjacent 236-unit multifamily building also owned by the same joint venture. "The combination of extremely limited new supply, dramatically reduced construction costs and rising rents makes this an ideal time to develop a new luxury property on a premier urban site in downtown Denver," said James Linsley, president of GID Urban Development Group. "Manhattan II is an exciting multifamily project that offers first-class amenities rivaling that of any other residential development in the area." Designed by Niles Bolton Associates, Manhattan II consists of a total gross area of 267,000 s/f. The development will include 77 one-bedroom units, 49 two-bedroom units and 8 two-bedroom plus den units, as well as an underground private parking garage with 210 parking spaces. Construction of Manhattan II is anticipated to be completed in August 2012. "We are thrilled to break ground and introduce a new style of urban living to this vibrant neighborhood. Riverfront Park is a distinctly residential area with all of the energy that downtown life has to offer, including convenient walkability to major sporting events, world class museums, concert and entertainment venues, outstanding parks and open spaces, and a large variety of exciting shopping and dining choices," said Linsley. Manhattan II will include a fitness area, yoga studio, wellness center, club room with an open kitchen/bar area, private dining room, wine vault, business/meeting facilities, bike storage area, multiple outdoor terrace areas and a ground level outdoor landscaped promenade. Apartments feature nine-foot ceilings, washer/dryers, stainless steel appliances, granite kitchen and bath countertops and wood flooring in the kitchens and living rooms, and outdoor balconies and terraces.