Wood Partners, Clarion break ground on Aurora apartments

Wood Partners and Clarion Partners broke ground Monday on Alta Metro Center, 365-unit apartment community in Aurora.

The project, to be completed in 2028, is in a designated opportunity zone, a federal incentive program established by the 2017 Tax Cuts and Jobs Act to spur economic growth and investment in underserved areas in exchange for tax savings for investors.

Alta Metro Center is part of the larger Metro Center master-planned development, a walkable district just blocks from a light-rail station, giving residents access to the greater Denver metro area.

Ian McKay, a senior vice president at Clarion Partners, said the project aligns with the company’s strategy of investing in well-planned, transit-oriented developments in high-growth markets.

“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,” he said.

The four-building, four-story community will be a mix of one-, two-, and three-bedroom apartments. The main building will have a clubhouse leasing center, a fitness center, a pool, a lounge and a gaming area with a kitchen.

Other amenities, such as a library and lounge zone, micro-fitness area and a dog-washing station, will be located throughout the other three buildings.

“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.”

The project continues the partners’ activity in the Denver area.

Clarion Partners recently completed The Gild adjacent to the site, and Wood Partners recently broke ground on Alta Flatirons, a 251-unit community on one of the last remaining parcels of the Downtown Superior Masterplan.

Wood Partners has two more communities in the area: Alta Piney Creek, a 186-unit apartment community in southeast Aurora and Alta Mile High, a 216-unit development south of Mile High Stadium in Denver.