Cottonwood Residential is currently excavating a key site in East Downtown, preparing to build a 254-unit market-rate rental project spanning an entire city block.
Located in a prime area of Downtown – close to transit, culture, bars and restaurants – Cottonwood Broadway Apartments will occupy largely vacant land long-owned by the federal government.
The 254-unit project includes 30 studios, 149 1-bdrm, and 75 2-bdrm units. The studios average 575 sf and will rent at $1450 ($2.42/sf).
1-bdrm apartments will go for an average of $1700 for 760 sf ($2.23/sf).
2-bdrm units offer 1100 sf for $2050, for $1.86/sf rent.
Overall, the project is penciled at an overall $2.16/sf rent.
The project will be parked with 245 stalls for 254 units, just under a 1:1 ratio. It does not include any ground-floor retail space.