DENVER, CO – CMG Capital began construction of Momentum at First Creek, a $ 50 million multi-family rental project in Denver. The company worked with Massimino Development on the property on 56th Avenue & Telluride Road in the high-growth corridor of Denver International Airport.
The Momentum Project is the second partnership between CMG Capital and Massimino Development in Colorado. The two companies laid the foundation stone for the Farm Haus Apartments in Longmont in August 2019.
The development offers an amazing array of amenities including a 7,750 square foot clubhouse with a stunning resort style lobby and state of the art 24 hour fitness center, coffee bar, collaborative offices, expansive lounge areas and game room and indoor / outdoor kitchens as well as one Dog wash. The property offers the toughest range of outdoor amenities on the market, including a resort-style pool, oversized spa, two water features, pool cabanas, and a pool pavilion with two outdoor TVs. Fire pits, outdoor dining areas, a BBQ pavilion with gas grill, and a pizza oven make for fantastic meals. Televisions, outdoor play areas, a bocce court, a dog park, a playground and a hiking trail complete the outdoor facilities.
"There's nothing like it in the sub-market," said Shawn Chemtov, CEO of CMG Capital. "The amenities are unparalleled and we believe there is a pent-up demand for this type of development."
Momentum at First Creek offers 200 one-, two-, and three-bedroom luxury apartments spanning six residential buildings on nearly eight acres. Apartments include designer kitchens with stainless steel appliances, quartz countertops, and large islands. They offer oversized private balconies, full-size washers and dryers, and hardwood floors. The master suites have spacious walk-in closets, double sinks, oversized soaking tubs, and three foot ceilings.
The size of the units ranges from 620 square feet to 1,412 square feet. Rents start at $ 1,395 and units will be available in April 2022.
Chemtov is a limited partner in Connect at First Creek, a 150-unit apartment building adjacent to Momentum developed by Massimino Development. Connect's property rental in First Creek began at the height of the pandemic and is currently stabilizing. During the rental period, an average of 18 units are rented out per month.
