More than 5,000 units have been added to Denver's ever-expanding multifamily market, yet co-developers Summit Capital Venture Group and The Rockefeller Group took every step to make sure the 250 they built stood out from the competition.
Despite myriad construction, lease-up and market-induced challenges, the joint venture's Patten Gray development has solidified its position as one of the city's leading luxury apartment projects, a stance that earned it a 2025 CoStar Impact Award, as judged by real estate professionals familiar with the market.
Since completing construction late last year, the complex at 1158 Delaware St. has been able to drive rents well past the rest of the Denver region. A typical unit at the property goes for nearly $2,500 per month, according to CoStar data, a significant premium compared to the market's roughly $1,830 per-month average that underscores Patten Gray's appeal among tenants looking for top-tier options in desirable neighborhoods.
"Young professionals continue to value proximity to urban amenities such as nightclubs and restaurants, cultural hubs and emerging job markets," Jay Lybik, CoStar's national director of multifamily analytics, said of demand for housing in urban locations such as downtown Denver. "As hybrid work has become the norm for many workers, renters have preferred homes that balance accessibility with flexibility."
With a coffee-cocktail bar on the ground floor and access to a calendar full of community events and social gatherings, the Patten Gray complex serves as an extension for the Golden Triangle neighborhood, which in recent years has emerged as one of Denver's residential hot spots. What's more, even if tenants choose to stay put, the property's roster of top-shelf amenities goes beyond the typical fitness room and pool lounge touted among the rest of the city's recently constructed properties.
About the project: The luxury apartment complex broke ground in summer 2022 and was developed alongside the Golden Triangle neighborhood's increasing appeal among renters. Tenants have access to a potpourri of amenities such as a saltwater pool, resort-style fitness center and dry sauna, among other wellness-focused perks, all of which the leasing team has leveraged to help the property stand out against competing alternatives.
What the judges said: “With multifamily buildings having no unique character, this one brings it out," CoStar Impact Awards judge Nick Jurgens, a managing partner at Madison Commercial Properties, said of the development.
They made it happen: The project was developed through a joint venture between Summit Capital Venture Group and The Rockefeller Group, with a Greystar-led leasing team that includes Kristin Fugita, Mark Hernandez, Tyler Mickey, Devin Fitch, Matthew Roberts, Melissa Mathieu and Carissa George.
CoStar Market Manager Kathryn Binns contributed to this report.