Watermark Residential to Develop 214-Unit Luxurious Single-Household Rental Group in Fortress Pines Suburb of Denver

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Watermark Residential to Develop 214-Unit Luxury Single-Family Rental Community in Castle Pines Suburb of Denver

DENVER, CO – Watermark Residential, a wholly owned subsidiary of Thompson Thrift and one of the country's leading multi-family developers announced the acquisition of 20.25 acres in the suburb of Castle Pines Denver for the development of The Summit Townhomes & Villas. The Summit will be a luxury rental community with single family homes and one to four bedroom townhouses. The expected completion date is December 2022.

"The Castle Pines submarket is one of the most desirable submarkets in the Denver Area that is unlikely to grow until the coming years, "said Jose Kreutz, managing partner of Thompson Thrift. "The Summit Townhomes and Villas offer a unique living experience for tenants of their choice who want to enjoy the single-family lifestyle with the advantage of a professionally managed and equipped community. This option is hardly available anywhere else."

Located on Lagae Road south of Castle Pines Parkway, The Summit will consist of 214 one, two, three, and four bedroom homes averaging 1,410 square feet. Homes will feature high quality interiors including gourmet bar kitchens with quartz countertops, stainless steel appliances, walk-in closets, garden tubs, full-size washers and dryers, and designer lighting fixtures. The three and four bedroom townhouses have two-car garages and two-level patio decks, while the two villas have 10-foot ceilings, windows on three sides of the house, and privately fenced patios. Community amenities include a well-equipped clubhouse, a 24-hour fitness center with state-of-the-art equipment, a swimming pool with cabanas and entertainment areas, a pet-friendly bark park and dog spa, and access to local hiking trails. as well as access to an on-site management team dedicated to providing the highest level of service for residents.

Is situated between Lonely tree and Castle RockThe Summit is right off the popular I-25 and is just 25 miles south of downtown Denver and only a 15-minute drive from Denver largest employment center with six Fortune 500 companies and over 237,000 employees. Located in Douglas County, the "6 .. Most Affluent County in the US, it also gives families access to Douglas County School district, one of the best in Coloradowith the highest graduation rate in the state.

Castle Pines provides easy access to the area's major employers, including Charles Schwab, Great-West, DISH Network and others. It is also near major retail centers like the Village Square Center and The Outlets at Castle Rock, Colorado 4th most popular tourist destination according to Colorado.com and Park Meadows Mall in Lone tree, Colorado largest mall. With the average house in the area being sold for $ 820,000The summit will be an attractive option for the growing number of households who want the lower density retail market and private outdoor space that is common in the open air, but remain aloof because of the associated financial hurdles of ownership.

Kreutz continued, "Watermark Residential is uniquely positioned to offer a luxurious single family lifestyle coupled with the flexibility and ease of a rental home. The Summit Townhomes & Villas does not currently offer any other rental complex in the Castle Pines area a truly innovative product all in one extremely desirable place. "

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