Property Markets Group, a Nyc-Based Developer, Has Bought More Land Near Coors Field. Their Plan Is to Bring Co-Living to Denver with X Denver, Part of Their X Social Communities Concept, Which Fast Company Magazine Once Described as “Upscale Dorms for Adults”.
Property Markets Group's most recent purchase was a half-acre of land located at 3000 N. Inca St, which, according to county records, cost the group $3.19 million. That means that they paid about $140.25 per square foot. Six months ago, Property Markets purchased a 1.1-acre lot located at 3100 N Inca right next to their new lot. They purchased that lot for $6.87 million. They bought Denver's Westfield Co., the same company that sold them their new property.
X Denver, a 220-unit complex, is set to arrive in the summer of 2020, according to Property Market's website. The development will only use their 1.1-acre lot, according to Brian Koles, the brand and experiences director for Property Markets. The company has yet to release plans for its new half-acre purchase.
There are three other X Social Communities that are planned in Miami and Fort Lauderdale, and Chicago's University Village. Currently, there is an X Social Community located in Chicago's Logan Square. The Logan Square location rents by both the unit and the bedroom, which is known as coliving. The X Social Communities are designed for the residents to get to know each other with their co-working spaces, ample common areas, and organized activities. X Denver is set to feature a multilevel rooftop deck with two pools, amphitheater-type seating, and fire pits, according to a rendering on Property Market's website.
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