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The Hudson

Treme-Parker and our esteemed partners offer a $32 million JV Equity and $64 million senior construction loan opportunity to develop The Hudson, a 179-unit, Class A+ multifamily two tiered tower rising in the epicenter of Denver’s River North Arts District. This is not a pedestrian apartment deal; it is an institutional-grade, ground-up development in a submarket where culture, commerce, and capital converge. The Hudson will stand twelve stories above Delgany Street, marrying panoramic views of the Rockies with curated luxury and amenities that range from a rooftop pool and co-working suites to private terraces and two premier retail tenants anchoring the ground floor. The numbers speak with the clarity of a closing bell: a projected levered Project IRR at 20 percent, Limited Partner IRR near 18 percent, an equity multiple of roughly 2.55x, un-levered yield on cost of approximately 8.4 percent, and a debt yield in excess of 10 percent. Cash-on-cash returns at stabilization are forecast to crest into double digits, creating a current yield profile as compelling as the terminal value story.

The Hudson - Exterior Elevation.jpeg

Community Summary

  • ​In-Unit Washer & Dryers

  • Bosch Appliance Packages

  • Solid Surface Countertops

  • Tile Backsplashes

  • Tiled Bathroom Floors

  • Tiled Shower Surrounds

  • Smart Home Technology

  • Smart Locks & Thermostats

  • Upgraded ELFA Closets

  • 8” Solid Core Doors 

  • Coffee Bar

  • Fitness Center 

  • Yoga Room

  • Secure Parcel Lockers

  • Pet Wash Station

​​

  • Sand-Set Pavers (2nd fl)

  • Synthetic Turf Lawn (2nd fl)

  • Common-Area Patio (2nd fl)

  • 2 Level Sky Lounge (11/12th fl)

  • Pool w/ Outdoor Bar

  • Grilling Area 

  • Outdoor Farm Dining Table

  • Fire Pits

  • Ski & Bike Tune Shop

  • Indoor Bike Storage

  • Bike & Scooter Rentals

  • Co-Working w/ Private Offices

  • Winter Gear Lockers

  • Winter Gear Rentals

  • Onsite Car Share

The sponsorship team is equally formidable, delivering Class A multifamily and mixed-use projects across multiple markets outside of Denver, including a 183-unit, 240,000-plus square foot high-rise in Stamford, CT, a 325-unit development in Phoenix, AZ, and a series of boutique luxury developments in New York City. The sponsor's background in construction management, tenure with multi-billion-dollar private developers, and their disciplined market selection process give this venture the hallmarks of a best-in-class development partnership. The execution team is rounded out by OZ Architecture and Harvey-Cleary, both nationally recognized for delivering institutional multifamily assets on time and on budget.

The Hudson - Amenities.jpeg

The River North Arts District is a confluence of Denver’s most dynamic demand drivers: one of the nation’s fastest-growing workforces, a roster of Fortune 500 and tech tenants within minutes, direct commuter rail access to Union Station and DIA, and an amenity-rich streetscape pulsing with the arts, nightlife, and national retailers. This is where the next generation of Denver’s professional class wants to live actively, affluently, and paying a premium for proximity. Much like the gold veins that drew the first wave of fortune-seekers to the Queen City of the Plains, RiNo’s growth is the modern motherlode, and The Hudson is positioned directly above it.

Denver Rent Growth
Denver Rent Growth.jpeg

  Gross Rent: $1,898

•  Effective Rent: $1,869

Denver Population Growth
Denver Population Growth.png
11,870

Units Absorbed

 (denver 24)

2,683

Units Absorbed (submarket 24)

7.2%

Rent Growth (denver 21-24)

93.6%

Average Occupancy (submarket 24)

1,155

Units Under

Construction

(submarket)

The Hudson offers Limited Partners not just a seat at the table, but a priority position in the capital stack that is structured exclusively for LP or preferred equity, with the sponsor’s interests aligned behind investor capital. It is an entry point into a market that has proven its resilience and appetite for premium residential product, at a moment when supply in RiNo remains constrained and absorption is breaking records. In the language of not just accretive returns, this is asymmetric upside with risk insulated by pedigree, location, and structure. In the language of Denver’s history, the tracks are laid, the ore is in sight, and The Hudson is the train that gets you there first.

Construction

to 

Stabilization

0 mos

LP Equity

$0

Construction Debt

$0

Total Project Cost

$0

Investment Summary

  • Total Project Cost: $96.5mm

  • LP Equity: $32mm

  • Construction Debt: $64.6mm 

  • Construction Period: 24 mos

  • Stabilization: 9 mos

  • Stabilized NOI: $6mm

  • Stabilized Value: $120mm

  • Yield on Cost: 8.4% (unlevered)

  • Yield on Cost: 6.2% (stabilization)

  • Debt Yield: 10%

  • Project IRR: 20.92%

  • Project Equity Multiple: 2.55x

  • LP IRR: 18%

  • LP Equity Multiple: 2.59x

20.9%

Project IRR (levered)

18%

LP IRR (levered)

2.59 x

LP Equity Multiple

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