An 11.3-acre site in Arista sold to an apartment developer for $7.2 million.
STAR Broomfield LLC, which is affiliated with Steadfast Cos., purchased the vacant land along the east side of Wadsworth Boulevard between Arista Place and Parkland Street for a 325-unit development recently approved by Broomfield City Council.
Irvine, California-based Steadfast Cos. owns and manages approximately 30,000 apartment units across 18 states, including about 2,200 units in Colorado. The Arista project will be its first new construction in Colorado and its first community in Broomfield.
Steadfast is targeting a third-quarter groundbreaking and 24-month build-out.
Read More at CREJ.com