New apartments and retail may be coming to RiNo.
Denver-based Steele Properties submitted plans to the city last month calling for the development of a 60,000-square-foot, 40-unit income-restricted apartment building where Downing and Walnut Streets meet.
A Steele Properties spokeswoman declined to comment, noting the proposal is in the early stages.
The land at 3707 Walnut St. is owned by an affiliate of Denver-based Elevation Development Group, which purchased the 13,000-square-foot parcel in 2017 for $1.2 million. In its filing to the city, Steele Properties said it hopes to buy the land in November 2025 if it is able to secure low-income housing tax credits for the project.
Steele Properties’ plans call for about 5,000 square feet of retail or amenity space on the ground floor of the proposed six-story building. Units would be restricted to those making between 30 percent and 60 percent of the area median income.
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The property would come with just 12 parking spaces. No parking is required due to its proximity to the 38th and Blake light-rail station.
Steele Properties has 90 holdings across 20 states with nearly 9,000 units between them, according to its website. The company specializes in acquiring and rehabbing income-restricted apartments, and has Colorado holdings from Greeley to Trinidad.
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