Apartment builder lands $17M former assisted living center

Burl Rolett January 10, 2017 0

The former assisted living facility at 8505 E. Lowry Blvd. sold for $16.5 million. (Burl Rolett)

The former assisted living facility at 8505 E. Lowry Blvd. sold for $16.5 million. (Burl Rolett)

With projects wrapping up in RiNo and the Highlands, a big-name apartment builder has set its sights on Lowry.

Alliance Residential bought a former assisted living facility at 8505 E. Lowry Blvd. last week for $16.5 million. The company, which has built several apartment buildings in RiNo under its Broadstone trade name, closed on the nearly 10-acre parcel Jan. 6.

It’s the site of the former Lowry Park Independent Assisted Living Center, which closed last summer with a sale becoming imminent, according to media reports from the time. That building totals 92,000 square feet, but would likely come down to make way for a new apartment building.

Arizona-based Alliance Residential lists four Denver apartment projects on its website, including the newly built Dylan building on Brighton Boulevard and another complex opening soon, just north of 32nd Avenue in the Highlands.

Last year Alliance sold two apartment buildings near Coors Field for $144 million. Managing director Andy Clay did not return a call seeking comment on the deal by press time Tuesday.

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