Reid Davis - Riverpoint Partners

10 Jul Q&A: Riverpoint Partners’ Reid Davis

We all know how crazy the Denver real estate market has become. Our challenge is to figure out ways to keep it from turning completely irrational. As buyers comb listings and neighborhoods for desirable properties, they’re still finding a dearth of starter-level condominiums in the $200,000-$400,000 range. If you ask developers, the main culprit is Colorado’s construction defects laws, which make it easier for disgruntled homebuyers to bring lawsuits against their builders. Legislative efforts to amend the statutes have failed so far, leaving the inventory problem unresolved. We sat down with Reid Davis of Riverpoint Partners—the developer behind the upcoming Decatur Point apartment complex in Jefferson Park—to discuss the industry’s legal concerns and the overall dynamics of Denver’s market. 5280: Your firm is relatively new to the local scene. How did you break into it? Reid Davis: We made some land acquisitions in Jefferson Park and the Tennyson Street area, and we were able to get...

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02 Jul Decatur Point Brings 203 Apartments to Jefferson Park

A Denver developer has started constructing a 5-story, 203-unit, high-end apartment community in Jefferson Park. The $47 million Decatur Point community, being developed by Riverpoint Partners, may be the last major apartment community built in Jefferson Park, which in recent months has found itself as the poster child for what some consider out-of-control development in Denver neighborhoods. Jefferson Park is in District 1, where voters overwhelmingly elected Rafael Espinoza as its new city council person. Espinoza lives in Jefferson Park. “I’m not sure you could get the approval for this type of land assemblage in Jefferson Park going forward,” said Adam Sands, a senior vice president at FirstBank. FirstBank, Colorado’s largest locally owned bank, is providing $30 million in financing for Decatur Point, which will cost slightly more than $47 million to build. “This will be a great project,” Sands said. “We walked the area and we love the site. Other big projects in Jefferson...

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01 Jul New Apartment Project Slated for Jefferson Park

Riverpoint Partners is breaking ground on Decatur Point, a 203-unit apartment complex in Denver's Jefferson Park neighborhood. The project, on Decatur between West 27th and West 28th Avenues, will have designated underground parking; a second-floor outdoor deck with spa, pool and grills; a fifth-floor community room with city and mountain views; and interior courtyard; fitness center, spin and yoga studio; bike storage; dog wash and a business center. Designed by Craine Architecture of Denver, Decatur Point will offer studio, one-bedroom and two-bedroom residences, 11 of which will be two-story brownstone-style units. Built with LEED guidelines in mind, the units will range from 625 square feet to 1,250 square feet, many with balconies and unobstructed city or mountain views. All residences will include full-size washers and dryers. The project is expected to be completed during the third quarter of 2016. "Jefferson Park . . . is one of the most sought-after new neighborhoods in...

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riverpoint-decatur-point-1

01 Jul Decatur Point Brings 203 Apartments to Jefferson Park

A Denver developer has started constructing a 5-story, 203-unit, high-end apartment community in Jefferson Park. The $47 million Decatur Point community, being developed by Riverpoint Partners, may be the last major apartment community built in Jefferson Park, which in recent months has found itself as the poster child for what some consider out-of-control development in Denver neighborhoods. Jefferson Park is in District 1, where voters overwhelmingly elected Rafael Espinoza as its new city council person. Espinoza lives in Jefferson Park. “I’m not sure you could get the approval for this type of land assemblage in Jefferson Park going forward,” said Adam Sands, a senior vice president at FirstBank. FirstBank, Colorado’s largest locally owned bank, is providing $30 million in financing for Decatur Point, which will cost slightly more than $47 million to build. “This will be a great project,” Sands said. “We walked the area and we love the site. Other big projects in Jefferson...

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Tennyson

09 Mar New Apartments Headed to Tennyson

Fifty more apartments are coming to Tennyson Street. Riverpoint Partners last month bought about 0.4 acres at 3860 and 3868 Tennyson St. with plans to build a new apartment building across the street from the Elitch Lanes bowling alley, which is itself being converted into a Natural Grocers. “There’s only a few pockets like this in all of Denver: 32nd Avenue, Pearl Street and those eclectic neighborhoods,” said Reid Davis, a Riverpoint principal. “It will be a great place for 50 or 60 apartments aside from the bigger projects on 38th Avenue or downtown.” Riverpoint paid $842,500 for the property in a deal that closed Feb. 12, according to Denver records. Plans, while still preliminary, call for between 48 and 55 apartments ranging from studios to three-bedroom units. Davis said it is too early to say how much the project will cost to build. Demolition on two existing buildings is slated to begin in...

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