103 income-restricted residential units under construction in Downtown Denver

Capitol Square Apartments, a six-story infill development designed by KTGY is set to bring 103 income-restricted units for a range of low- and moderate-income households near the Central Business District of Downtown Denver.

The development will take its design cues from the surrounding neighborhood. Its clean lines relate to the adjacent civic buildings and intentionally contrast to the highly detailed and ornate historic capitol building. The project’s amenities will include a leasing office, community space, and a fitness room at ground level as well as a landscaped outdoor terrace at the second-floor courtyard. Parking for 68 vehicles will be included at the ground and basement levels.

Of the 103 units, 73 will be one-bedroom units and 30 will be two-bedroom units. All apartments will be income-restricted exclusively for households earning between 40% and 80% of the area median income. The project’s U-shaped design opens up the interior units and courtyard to views of the Denver Art Museum and the mountains beyond.

The rental community is expected to be completed in 2022.

Across the country, multifamily rents have skyrocketed. Year-over-year rents are up by double digits in nine of the top 30 markets, while national YoY rent growth is up 6.3%. Emerging from the pandemic, a perfect storm of migration, enhanced government stimulus and a hot housing market, among other factors, has enabled this extremely strong growth.