A joint venture between multifamily developer Wood Partners and real estate investment manager Clarion Partners officially broke ground on Alta Metro Center in Aurora, Colorado.
The 365-unit project encompasses a quartet of four-story buildings featuring a mix of one-, two- and three-bedroom apartment layouts. The main building will include a clubhouse leasing center, a fitness center, a pool, a lounge and a gaming area with a kitchen. Additional amenities, including a library and lounge zone, a micro-fitness area and a dog washing station, will be located throughout the other three buildings.
Alta Metro Center is located within an Opportunity Zone, a geography established by the Tax Cuts and Jobs Act of 2017 that is designed to incentivize development in under-served areas in exchange for investor tax savings. The project is slated for a first quarter 2028 delivery.
“Alta Metro Center reflects our continued focus on building communities that offer more than just a place to live,” said Walter Armer, managing director at Wood Partners. “The community’s walkable setting, access to transit and proximity to a mix of uses create a neighborhood feel we know residents value. We look forward to delivering a project that supports the long-term growth and vibrancy of Aurora.”
“Alta Metro Center aligns perfectly with our strategy of investing in well-planned transit-oriented environments in high-growth markets and in product that provides residents a best-in-class living experience,” added Ian McKay, senior vice president at Clarion Partners. “As an Opportunity Zone investment, it provides investors with tax advantages while also supporting long-term economic development in a growing part of the Denver metro. We’re excited to partner with Wood Partners on a project that we believe will serve as a catalyst for the area for years to come.”
