Avatar Financial Group LLC has granted a $56-million loan to support the development of Williams Village, a mixed-use neighborhood near the University of Colorado Boulder. The project, led by developers Williams Family and Morgan Creek Ventures, aims to revitalize an aging strip retail center and parking lot into a vibrant community.
The two-year loan will allow for the purchase of two remaining ground leases and full entitlements for redevelopment. Phase 1 will focus on student housing while Phase 2 will include multifamily units, retail space, and parking. The final phase is planned for future development.
Upon completion, Williams Village will feature up to 600 units of workforce and student housing as well as over 90,000 square feet of community-serving retail shops and restaurants. Avatar’s financing brings this highly-anticipated project one step closer to reality.
