An Experimental Home-Sharing Facility is Coming to Downtown Denver

Corporate Housing Solutions | Jun 15, 2019

The Colorado Real Estate Journal is reporting on an experimental apartment complex coming to Denver,

“The firm, daydream apartments, purchased the 13-story, 579-unit property at 1770 Chestnut Place. The sales price for the three-tower property, anchored by Whole Foods Market, which covers a full city block bounded by 17th, Wewatta and 18th streets, and Chestnut Place, was not disclosed.

“This is an ideal first acquisition for daydream. With its location in the heart of a vibrant neighborhood, Union Denver sets the standard for the type of urban living we hope to promote nationwide,” Daniel Cohen, founder and CEO of daydream apartments, said in a release regarding the acquisition. “We intend to make similar purchases in other dynamic cities, where daydream apartments can add value to residents. Union Denver will serve as a prototype as we explore how to bring new models of affordability and convenience to urban apartment living.”

The LEED Gold community was sold by its developer, Holland Partner Group, which had operated the property since its completion in 2018.

Union Denver, rebranded as Union Denver by daydream, comprises studio, one- and two-bedroom apartments. Units range from approximately 400 to 1,550 square feet.

Current and future amenities at Union Denver by daydream include a rooftop, heated saltwater pool with hot tubs, outdoor televisions, lounge and grilling areas; common areas including a Grand Hall with stadium seating, game room with pool table, 20-person theater and several conference rooms; gourmet demonstration kitchen; on-site Whole Foods Market with private elevator; bike and ski locker storage units; 6,000-sf fitness center with yoga room, on-demand classes and strength/cardio training; 24-hour concierge desk; bike and car sharing; and a managed homesharing concept.” (CREJ)

 

This style of housing is nothing new, go to China and you see it everywhere, minus the amenities of course. While the developers make it seem like it is the hip new trend, the reality is these types of properties are being developed because it is becoming harder to make enough money to keep up with the rising costs of living.

The question is, will Americans buy into these types of housing arrangements? Americans love space, they love their own things, and they love their privacy, it seems counter-intuitive to the American dream.

For the same price furnished rentals and corporate housing solutions will be preferable because at the end of the day you can have your own grill without having to book it a week ahead of time.




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