BUILDING VALUE FROM EXPERIENCE
Convergence Communities
Convergence knows every aspect of the industry inside and out, from value add investments to class A development, and onsite construction to property management. We look at a tract of land, see its future and translate that vision into reality. We’ve created some of the most successful communities across Houston, Denver and the East Coast. Take a look at our most recent developments.
ACTIVE DEVELOPMENTS
Sunflower Meadows
Sunflower Meadows
LOCATION
Brighton, CO
UNIT COUNT
136 Homes
PHASE
PREDEVELOPMENT
SUNFLOWER MEADOWS
Sunflower Meadows is a unique 136 single-family, duplex and townhome built-for-rent development configured into two, three and four bedroom homes with an average size of 1,410 SF.
Sunflower Meadows represents a superb investment opportunity demonstrating solid property fundamentals within a differentiated housing asset class. The appeal of Sunflower Meadows lies at the confluence of its new, renter-friendly product type, long-term growth potential, and a well-positioned location.
PikeView
PikeView
LOCATION
Colorado Springs, CO
UNIT COUNT
Phase I: 268 Units Phase II: 62 Units
PHASE
PREDEVELOPMENT
PIKEVIEW
PikeView Apartments is a phased development of a 330-unit multifamily rental community consisting of one- and two-bedroom apartments and two- and three-bedroom townhomes on a 45-acre tract of land in Colorado Springs. The location will provide residents easy access to outdoor recreation including Pikes Peak, the Garden of the Gods along with other parks and trails. The site is also adjacent to a 15-acre preserve connecting to hiking, biking, and walking trails. The development and design team’s proposed design is modern mountain architecture with flat and fly roofs as well as a mix of natural exterior materials similar to the FalconView apartment community.
PROPERTY TRACK RECORD & CURRENT MULTIFAMILY COMMUNITIES
4400 Syracuse
4400 SYRACUSE
LOCATION
Denver, CO
UNIT COUNT
316
PHASE
LEASING
4400 SYRACUSE
4400 Syracuse is a 316-unit, 4-story surface parking community adjacent to the Denver Technological Center. The community consists of one, two and three-bedroom units with detached and attached single car garages. Community amenities include a fitness center, yoga room, community workspace, clubroom, pool, lounge pool, hot-tub, outdoor kitchen and dog-wash, as well as a ski and bike repair shop.
This development is a joint-venture with The Morgan Group.
FalconView
FALCONVIEW
LOCATION
Colorado Springs, CO
UNIT COUNT
288
PHASE
STABILIZED OPERATING COMMUNITY
FALCONVIEW
FalconView is a 288-unit garden community being developed in northern Colorado Springs, Colorado. The community consists of one, two and three-bedroom units with 20% of units having direct access garages. Community amenities include one-lane lap pool, lounge pool, hot tub, outdoor kitchen, dog-wash, ski and bike repair shop, fitness center, yoga room, club and billiard room.
Convergence Rental Housing Real Estate Group is acting as a fee developer for this community for Etkin Johnson.
Modera 55
Modera 55 - Phase I and Phase II
LOCATION
Morristown, NJ
UNIT COUNT
453
PHASE
SOLD
Gateway II
GATEWAY II
LOCATION
Greeley, CO
UNIT COUNT
144
PHASE
CONSTRUCTION COMPLETED
GATEWAY II
Gateway II is the second phase to Gateway I, which was developed in 1986. The new phase will consist of 144 units with both one and two-bedroom floor plans. Phase II will have a new clubhouse, leasing center, pool and detached single car garages.
Convergence Rental Housing Real Estate Group is acting as fee developer for this community for Gate Way Place II LTD., LLC.
2785 Speer
2785 SPEER
LOCATION
Denver, CO
UNIT COUNT
332
PHASE
SOLD
2785 SPEER
Located in the highly desirable Highlands neighborhood in West Denver, 2785 Speer is a 332-unit community with 10,801 sf of retail space and a two-story garage with four stories of residential living.
The planning on this community began in December of 2007 with the purchase of 2 (+/-) acres from one land owner. In 2008, Allied and its equity partner Amstar Group assembled the remaining nine parcels and the vacation of three rights-of-way to create a contiguous 4.39 acre parcel. In addition to the assemblage, the site was rezoned to RMU-30 and a site plan was approved allowing for the development of a mixed-use multifamily residential community. This community was capitalized without any debt. The structure consists of a capital commitment from State Farm and Amstar Group/Allied with their participation being respectively 96% and 4% of the total capital stack.
Retreat at the Flatirons
RETREAT AT THE FLATIRONS
LOCATION
Broomfield, CO
UNIT COUNT
374
PHASE
SOLD
RETREAT AT THE FLATIRONS
The Retreat at The Flatirons is a 374-unit multifamily garden community located in Broomfield, Colorado. The community consists of one, two and three-bedroom units with 20% of the units offering direct access garages. Community amenities include a two-lane lap pool, lounge pool, hot-tub, outdoor kitchen, dog-wash as well as a ski and bike repair shop.
The community is adjacent to the Flatirons Mall which provides a wide array of activities for the residents. In addition to the mall, the community is adjacent to a public park maintained by the City of Broomfield, Boulder County parks and open space and one of the many hike and bike trails found around Metro Denver.
The lease-up on Retreat at The Flatirons was achieved in 10 months with an average of 35+ units being leased on a monthly basis. In addition to a fast lease-up, the community also achieved rents $.20 per square foot above pro forma rents. Allied Orion Holdings, LLC acted as the fee developer for this community for Etkin Johnson Group, LLC.
The Retreat at the Park
THE RETREAT AT THE PARK
LOCATION
Denver, CO
UNIT COUNT
240
PHASE
SOLD
THE RETREAT AT THE PARK
The Retreat at the Park is a 240-unit community located in Denver, Colorado, on the site of the old Sisters of Mercy Hospital at the northeast corner of Fillmore and Sixteenth Street. Amenities include a billiards room, resident club room, 24-hour fitness center, resort-style swimming pool, structured parking that averages 1.65 spaces per unit, picnic arbor with grilling facilities, black-on-black Maytag appliance package, built-in microwaves, full-size washer/dryer in each unit, garden tubs, nine and ten-foot ceilings, crown molding in living area, soft loft open ceilings, slate tiled entry and kitchen flooring, slab granite bar/ island kitchen surfaces and private patios or balconies.
Complete demolition and abatement of the site started in August 2004 which included the demolition of two towers, removal of underground fuel tanks, minimal contaminated soil abatement and the abatement and interior demolition of the medical office building which was converted into 44 multi-family dwelling units. The remaining 196 units consisted of ground-up construction. The initial Temporary Certificate of Occupancy was issued on the conversion building in late November 2005, with final completion in 2007. Financing for this community was provided by Compass Bank and the equity came from Hexagon.
Retreat at the Woodlands
RETREAT AT THE WOODLANDS
LOCATION
Houston, TX
UNIT COUNT
240
PHASE
SOLD
RETREAT AT THE WOODLANDS
The Retreat at the Woodlands is a 240-unit garden-style community that is fully leased and operating across 10.278 acres across The Woodlands, Texas. Located near the Exxon Mobil Corporate Campus, the site is conveniently situated west of Gosling Road and north of College Park Drive, offering easy access to two major thoroughfares: I-45 and the Hardy Toll Road.
The equity was provided by a high net-worth Mexican National and Allied.
The Retreat at Westcliff
THE RETREAT AT WESTCLIFF
LOCATION
Westminster, CO
UNIT COUNT
372
PHASE
SOLD
THE RETREAT AT WESTCLIFF
Located in Westminster, Colorado, this 372-unit apartment development features amenities that include washer/dryers, frost-free refrigerators with ice makers, garbage disposals, nine-foot ceilings, two tone interior paint colors, crown molding, granite kitchen/bar tops, granite tile entries and granite fireplace surrounds.
The project began in August 2000 and construction financing was provided by J.P. Morgan Chase.
2125 Yale
2125 YALE
LOCATION
Houston, TX
UNIT COUNT
195
PHASE
SOLD
2125 YALE
This 195-unit mid-rise community is located in the heart of The Heights neighborhood in Houston, Texas. Community amenities include a state-of-the-art fitness center, cyber café/computer lounge, game room with billiards, a lush picnic arbor with outdoor grilling facilities and a beautiful resort-style pool. Units feature high-quality appliances, including full size washer/dryer, refrigerator, built-in microwave, garden tubs, ten-foot ceilings, tiled entries and a private patio or balcony.
The project broke ground in July 2007, commenced leasing in December 2008 and finalized construction in 2009. The capitalization for this community was a private equity investor and JP Morgan Chase. In the fall of 2010, a GSE loan was placed on the property at favorable rates. The loan was assumed by the buyer in 2012.
Contact us today to see the Convergence difference.
Convergence Rental Housing Group
3300 E. 1st Ave., Ste 480
Denver, CO 80206
Where Collaboration, Creativity and Community Meet