In July 2019, HREV entered into a joint venture agreement with a Denver, Colorado-based operating partner for the acquisition of two parcels of land (“GWS” and “MHE”). GWS is a 1.1-acre (48,000 SF) development site and located in a certified Opportunity Zone, one of the only Opportunity Zones located in Denver’s downtown core. MHE is a 1.7-acre (74,000 SF) adjacent development site.

Collectively known as TRAIN Denver, the 2.8-acre mixed-use project is located in River North (“RiNo”), an emerging neighborhood in Downtown Denver that is experiencing significant public and private investment. TRAIN Denver is two blocks from the new 38th & Blake Street light rail station and offers proximity and accessibility to I-70.  Located across from the recently-completed 39th Avenue Greenway, the transit-oriented development will include a mix of uses designed to provide a live-work-play community for Denver’s active, outdoor lifestyle.

HREV is proceeding with its Phase I development plan for a speculative office development on GWS and has preliminary plans for a multifamily and parking development on MHE.  HREV has plans to launch its capital raise for direct, co-invest Limited Partner equity for Denver GWS in December 2021.