PROPERTY: Dahlia Square Senior Apartments
LOCATION: Denver
OPENED: Phase 1, September 2011
DEVELOPER: Arthur McDermott, McDermott Properties, Englewood, Colo.
OWNER: Dahlia Square Senior LLP
EQUITY PARTNER: RBC Capital Markets, Denver, with permanent loan financing from Bank of America
PURCHASE PRICE: $1.173 million
DEVELOPMENT COST: $11.326 million
ARCHITECTURAL DESIGN: David Nakhjovani, Lewis Himes Associates, Littleton, Colo.
INTERIOR DESIGN: Margaret McDermott, Apartment Interiors Inc., Englewood
NUMBER OF UNITS AND LEASE-UP DATE: Phase 1: 88 one- and two-bedroom, 544- to 812-square-foot units; all leased as of Feb. 26, 2012
RENTS: $394 to $817; seniors 62 and older must prove their income is no greater than 30 percent to 50 percent of the area median income
COOLEST FEATURE: The freestanding two-way fireplace in the great room
STILL TO COME: 40 more apartments (in the Phase 2 second building); solar component on the roof
Aging Gracefully in Denver
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