**Kensington and IM Properties Launch $235M Mixed-Use Development, “Link 56,” in Denver**
Kensington Development Partners and IM Properties have acquired a 150-acre land parcel in Denver, setting the stage for the creation of a major new mixed-use development known as Link 56. Strategically located in the Green Valley Ranch and Denver International Airport submarket, Link 56 will span approximately 250,000 square feet of commercial space and feature around 2,000 rental housing units. The project is situated at the northwest quadrant of 56th Avenue and Tower Road and includes roughly 27 acres dedicated to parks and open space.
Phase I of the project, with an estimated investment of $235 million, is set to kick off immediately. Key components of this phase include:
– **Target Store**: A 150,799-square-foot Target store, serving as a key anchor tenant.
– **214-Unit Class A Multi-Family Development**: A modern residential offering consisting of two- and three-story garden-style apartments distributed across 13 buildings.
– **170-Unit Class A Built-To-Rent (BTR) Townhome Community**: A collection of two-story townhomes spread over approximately 11 acres, designed for long-term rental living.
– **Retail & Dining**: A mix of stand-alone and multi-tenant retail pads. Ongoing lease negotiations are in progress with prospective tenants in sectors including restaurants, coffee shops, general retail, and automotive services.
Link 56 is poised to become a dynamic addition to the Denver area, combining commercial, residential, and recreational elements to meet the region’s growing demand for quality mixed-use environments.
