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New Alexan Diagonal Crossing Multifamily Development in Boulder, Colorado Nears Full Lease-up

·3-min read

Development Has Affordable Units, Parcels Donated to Local Nonprofits, and LEED-Gold Certification

Crow Holdings’ multifamily development company, Trammell Crow Residential (TCR) announced today that its Alexan Diagonal Crossing development in Boulder, Colorado has reached stabilization in less than a year. The Diagonal Crossing master development contains market-rate apartments under the Alexan brand, a 105-unit affordable apartment community, three site parcels donated to local nonprofits and LEED-Gold certification.

TCR has worked closely with nonprofit organizations and the City of Boulder to create this inclusive, mixed-use community. In total, the project consists of six land parcels. Three were donated to local nonprofits: Studio Arts, Meals on Wheels and Naropa University, which will use the space for community art classes, a meal distribution facility and affordable faculty housing, respectively. Another parcel contains an affordable housing community targeted at people making 60% of area median income. The fifth parcel is designed for a daycare facility and will break ground later this year to benefit the families living in the community.

Alexan Diagonal Crossing consists of 250 market-rate apartments across 17 separate energy-efficient and tech-friendly buildings. The community is LEED-Gold certified and built to a minimum 60 HERS Index, which measures home energy efficiency. The apartments are approximately 40% more efficient than a standard home.

"Like many areas in the country, demand for high-quality apartment housing in Boulder has exceeded the supply. Alexan Diagonal Crossing provides homes for people who seek to live near their workplace, in a community that has a broad array of amenities," said Jarvie Worcester, Managing Director of Mountain States at Trammell Crow Residential.

"Building residences that positively impact our surrounding communities is part of the DNA of our firm," said Ken Valach, CEO of Trammell Crow Residential. "We are not only committed to driving economic value, achieving meaningful social value is also a critical component of our success."

With this newest Alexan offering, TCR continues to expand its presence in the Mountain States region. In addition to Alexan Diagonal Crossing, TCR recently completed Alexan Julian in Denver’s West Highlands neighborhood. Three additional projects are currently under construction in Denver and Aurora. TCR has developed more than 2,600 apartment homes across the front range since 2012 with another 1,000 homes in planning.

About Trammell Crow Residential
Trammell Crow Residential (TCR) is a market-leading developer of multifamily communities across the United States, and has delivered nearly 260,000 apartments to date. Founded in 1977, TCR is part of Crow Holdings, a privately-owned real estate investment and development firm with a 70-year history, more than $20 billion in assets under management, and a strong track record of performance, partnership and innovation. For more information, please visit www.crowholdings.com/tcr.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210413005457/en/

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Mendel Communications

Bill Mendel, 212-397-1030
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