Village on Cypress represents TruAmerica’s 16th investment in the Denver MSA. The Property is a substantial value-add opportunity as all of the 220 apartment homes remain unrenovated or lightly renovated. TruAmerica will renovate all units to a consistent, premium finish level, creating a high-end feel for future residents. TruAmerica also plans to make targeted improvements to exteriors and amenity spaces. Amenity improvements will include clubhouse renovations, fitness center upgrades, exterior paint, signage, pool furnishings, landscaping, BBQ upgrade in the pool area, dog park renovations and the addition of package lockers. These renovations will improve the current resident lifestyle and foster a more attractive image to prospective renters.
Residents benefit immensely from Village on Cypress’s central location, just nine miles from Colorado’s largest job center in Downtown Denver. The Property’s surroundings offer a full array of retail, entertainment, and restaurants options, including Denver’s famous Grizzly Rose, Texas de Brazil, Safeway, King Sooper’s, and a Walmart superstore. The Property offers easy access to major employment centers via connectivity to other major thoroughfares. The Property is approximately 5 minutes and less than 1.5 miles from access to Interstate-25. Additionally, the Property is approximately 2.5 miles from U.S. Highway 36, offering access to some of Denver’s most desirable job hubs along the “Boulder Corridor” including Westminster, Broomfield, and Boulder itself.
Village on Cypress’ geographic positioning facilitates favorable access to entertainment, premier retail, jobs and highly-graded schools, providing ample demand for multifamily housing in the Arrowhead submarket. Denver’s Northwest Valley encompasses several large scale employment hubs. The daytime employment count within 10 miles of Village on Cypress exceeds ±400,000 jobs. Residents benefit from proximity to over ±1,300 office-using jobs located within the P83 Entertainment District and adjacent to Arrowhead Towne Center, as well as numerous surrounding hospitals and universities. Village on Cypress also feeds into the Peoria School District, which is an A-rated school district by the Arizona Department of Education. The community is specifically within the boundaries of Apache Elementary School (K-8) and Centennial High School, which both received A grades in the 2019-2020 school year.