DENVER, CO/ April 7, 2016 – Today, Northstar Commercial Partners announced its recent acquisition of a 1.56-acre vacant parcel of land in Denver’s Stapleton neighborhood. Northstar will develop the property located at 2979 Uinta Street into an assisted living and memory care senior living facility. The development will be a new construction project of a ±63,283 SF building catering to residents who require assistance for day-to-day activities and patients who suffer from dementia and Alzheimer’s.
“This investment allows Northstar the opportunity to improve a vacant land site and construct an establishment that ensures the health, safety and well-being of senior residents, while making a positive contribution to the community,” said Brian Watson, Founder & CEO of Northstar.
The planned 74 total units (58 assisted living and 16 memory care) should be coming online by November 2016.
Stapleton is an urban redevelopment of the land that is the former Stapleton International Airport and includes over 19,000 residents, 50 parks, and 38 miles of trails. Stapleton is widely considered to be a successful redevelopment project that supports some of the strongest demographics in the State.
Watson explained that, “One of the most important factors to a successful senior living facility is hiring the right operator. Northstar is pleased to have teamed with Balfour Senior Living, which is one of the most respected regional operators in Colorado and is well known nationally.”
The Riverfront at Balfour facility in Downtown Denver is considered one of the premier senior living facilities in the country and won the Hospitality Design Magazine award for “Best Design” in the senior living/health care category.
The newly-purchased property provides senior residents and their guests proximity to the Stapleton Town Center, anchored by a King Soopers grocery store and the Quebec Square power center with national retailers including: Walmart Supercenter, The Home Depot, McDonald’s, Panera Bread, Office Depot, Ross, Sam’s Club, and many other retail stores.
“The ability to construct a brand new facility near such extensive retail development offers many options to our residents and their visiting family members,” Watson continued. “Stapleton creates an ideal living choice for seniors who are able to make use of these amenities.”
There are two age restricted, independent living communities in close proximity to the property.
“The purchase of this Stapleton property has been and will continue to be an exciting prospect as we now work toward the development stage of the premier senior living facility, in hopes of providing real value to local residents in need,” Watson concluded.
In addition to this project, Northstar is in the process of developing several other senior care and medical facilities throughout the United States.
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About Northstar Commercial Partners
Founded in 2000 by Brian Watson, Northstar Commercial Partners is a privately held commercial real estate investment company headquartered in Denver, Colorado.
Northstar acquires and operates attractive commercial real estate opportunities throughout the Nation and orchestrates all aspects of the investment from initial concept through to completion.
Northstar has purchased assets from a multitude of Fortune 500 companies including, but not limited to: Shell Oil Co., GE, Columbia House, Ball Corporation, Loomis, Cargill and a national portfolio of real estate from The Benjamin Moore Paint Co., in addition to many individual assets from other owners, lenders and companies.
The company specializes on buying vacant or highly distressed assets and placing them back into productivity to create jobs and opportunities for Americans throughout the Country.