The new multifamily development '3850 Blake' in Denver, featuring modern architecture and community amenities.
Construction has commenced on ‘3850 Blake’, a new multifamily residential project in Denver’s River North Art District. The 16-story building will feature 310 rental units, with a commitment to affordability for residents earning around 70% of the area median income. The project aims to enhance community living with ample amenities while meeting growing housing demands in the vibrant neighborhood.
Construction has officially commenced on a new multifamily residential building known as 3850 Blake in Denver’s vibrant River North Art District, commonly referred to as RiNo. The project, which broke ground in March 2025, will consist of 310 rental units spread across 16 stories. Situated at the bustling corner of Blake Street and 38th Street, this new development is set to enhance the local housing market and provide modern living options in a thriving neighborhood.
The completion of 3850 Blake is anticipated for the third quarter of 2027. The development aims to respond to the increasing demand for housing in RiNo, a neighborhood that has seen significant growth. Between 2019 and 2020, around 26,000 new residents flocked to the area, drawn by its artistic vibe and an abundance of amenities.
The new multifamily building will feature a mix of studio, one-bedroom, and two-bedroom apartments, with an average unit size of 563 square feet. A notable aspect of the project is its commitment to providing affordable housing options. Nearly 40% of the residences will be priced for individuals earning 70% of the area median income (AMI), making it accessible to a broader range of potential tenants. Moreover, over 70% of the units will be accessible to individuals earning less than 100% of the AMI, promoting a vision of attainable urban living.
Future residents of 3850 Blake will enjoy approximately 12,000 square feet of amenity space, designed to enhance the community feel of the development. Features will include an elevated pool deck that offers spectacular mountain views, a modern clubhouse, coworking zones, and an indoor/outdoor fitness center. These amenities are expected to elevate the living experience, attracting residents who appreciate both luxury and convenience.
The parcel of land designated for 3850 Blake is owned by 3850 Blake Owner LLC, which purchased the lot for $9.6 million in April 2022. The selection of RiNo for this development speaks volumes about the neighborhood’s potential, which houses over 150 restaurants, bars, galleries, and entertainment options within a mere 10-block radius.
In recent months, the Denver multifamily market has faced challenges, with reports indicating a 23% year-over-year drop in the construction pipeline and a 19% decline in proposed developments. Factors such as high-interest rates and rising construction costs are impacting developer decisions, leading to a potential shortage of new housing builds. Interestingly, while urban multifamily projects have slowed, suburban markets are thriving, attracting significant investor interest in suburban multifamily transactions.
Despite the current challenges, there is optimism for a rebound in Denver’s urban multifamily market, particularly as work-from-home policies continue to evolve and the demand for city living returns. Additionally, the city’s Inclusionary Housing Ordinance and various sustainability initiatives are shaping the future of development in the region, ensuring that projects like 3850 Blake meet the needs of the community while also addressing broader urban challenges.
The construction of 3850 Blake is an important step toward enhancing housing availability in Denver, especially within a neighborhood that is rapidly transforming and adapting to modern urban living. It is a project that not only meets the growing demand for rental units but also prioritizes affordability and community amenities.
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