Farbers sell LoHi apartment development site for $9.5M – JS

The Farber Brothers Sell LoHi Site with Approved Development Plans

The Farber brothers have successfully sold a site in LoHi that comes with approved development plans, signaling an imminent groundbreaking for a new project. Elevation Development Group, established by Brent, Brad, and Gregg Farber, finalized the sale of a 0.68-acre property at 3301-3333 Mariposa St. in Denver to Century Communities, a prominent homebuilder based in Greenwood Village.

According to records, Century Communities paid $9.5 million for the property, translating to $322 per square foot. The Farbers initially acquired the site for $5.65 million in 2019, which at the time housed industrial buildings that have since been removed.

The property is zoned C-MX-5, allowing for a variety of uses up to 5 stories high. The Farbers had submitted plans for apartment development on the site in late 2020, with the current approved plan calling for 116 units.

Century Communities’ Executive Vice President, Jim Francescon, confirmed that the company will be moving forward with the project. Construction is set to commence this week and is projected to conclude by 2028.

Notably, the Farbers, operating from Cherry Creek, have previously developed two office buildings in the neighborhood. They recently completed the Steel House office building in RiNo in collaboration with Beacon Capital Partners from Boston. Additionally, the Farbers own a significant portion of a city block along Market Street in downtown Denver, where they have proposed constructing apartments.