Apr 15, 2021

Trammell Crow Residential’s New Boulder Community Gathers Steam

Multi-Housing News (April 14, 2021) - Trammell Crow Residential—the multifamily development company of Crow Holdings—has reached stabilization at its newest property Alexan Diagonal Crossing in Boulder, Colo., in less than one year.

The LEED Gold-certified Alexan Diagonal Crossing master development features Alexan-branded market-rate apartments. It also offers a 105-unit affordable apartment community and three site parcels donated to area non-profit groups. Demand for high-quality apartments in Boulder outstrips available units. Alexan Diagonal is intended to offer affordable housing near residents’ workplaces, TCR said in a statement.

The 250 market-rate apartments are distributed across 17 separate energy-efficient and tech-friendly buildings. Built to a minimum 60 HERS Index, a measure of home energy efficiency, the units are about 40 percent more efficient than a conventional home.

Apartments offer 9-foot or higher ceilings, stainless steel appliances with front-control ranges, mud rooms, contemporary cabinets and Wi-Fi enabled Nest E-thermostats. Common area amenities include a community garden.

SIX PARCELS

To create the mixed-use community, TCR closely collaborated with nonprofit organizations and the city of Boulder. Six land parcels comprise the total project.

Three parcels were donated to local nonprofits Studio Arts for community arts classes, Meals on Wheels for a meal distribution facility and Naropa University for affordable faculty housing.

The fourth parcel features an affordable housing community for residents earning 60 percent of Area Median Income (AMI). A fifth parcel, to get a groundbreaking later in 2021, is designed for a daycare facility to benefit community families.

The property places residents within seven minutes of the University of Colorado at Boulder, four minutes of three different shopping centers and a few minutes of a variety of parks and recreational areas, including Cottonwood Trailhead, Eagle Trailhead, Foothills Nature Center and Andrews Arboretum.

Four months ago, TCR announced plans for a new Class A apartment development in Kingston, Mass.

This overview is designed to introduce Crow Holdings and its various operating companies. Crow Holdings Capital is a U.S. SEC registered investment adviser and is the manager to the Crow Holdings Capital Funds. Crow Holdings Partners is a division within Crow Holdings Capital. Crow Holdings Capital, Trammell Crow Residential, Crow Holdings Industrial and Crow Holdings Office are operated separately and independently from one another with separate senior leadership and investment committees. SEC registration does not imply a certain level of skill or training.