Parq on Speer – Golden Child
The horizon is relentless in markets fueled by high-end appetites.
Mai Olaussen loves her work. She is the Director of Development for Greystar, a global blue-chip leader in multifamily rental housing that focuses on developing and operating beautiful living environments tenants are happy to call home. After 10 years on the operations side of the business, Mai convinced Greystar’s leadership that she’d be a good fit for development. Five years later, she is leading multiple projects across the country just as the finishing touches are being put on the first project started when she took the helm.
“Parq on Speer is my golden child. The quality of the living experience will be exceptional,” says Olaussen confidently.
Located on the east edge of Speer Boulevard just north of 8th Avenue, Parq on Speer will be a 16-story residential tower that seeks to set itself apart from an abundance of competition by targeting the upper end of the rental market. The luxury units will range from 546- to 3,478- square feet and are designed and finished to for-sale condominium standards. Quartz countertops, hardwood floors, rain showers, and soaking tubs are joined by KitchenAid/JennAir cooktops, and walk-in closets to making these apartments live lux. Units also feature Lutron smart home systems that provide integrated voice-activated control of temperature, audio/visual, security, and lighting.
To stand-out as luxury on the rental market, like the units, the amenities package must be next-level. The building will boast 24/7 lobby concierge services, a sky lounge and private dining area, an elevated dog park and grooming spa on level three, and a well-appointed fitness center. The anchor of the building and center of resident community gathering will be the resort-inspired sixth-floor outdoor pool lounge. A covered outdoor kitchen, a collection of cabanas and fire pit lounges and the pool deck combine to offer 14,275 square feet of entertainment space facing Rocky Mountain views to the west.
“The project team has been amazing, great teamwork and communication the whole way,” says Olaussen. “From the high-end design to the smooth execution through two years of construction so far, everything is coming together beautifully.”
Putting the project team together, Greystar selected Ziegler Cooper Architects of Houston and local General Contractor, Milender White, to execute the project through a Construction Manager/General Contractor (CM/GC) delivery model. Unifying the design and construction team during preconstruction services is a proven way to decrease construction complexities and increase speed to market without jeopardizing design intent or finished quality. While Greystar’s office proximity to Ziegler Cooper in Houston facilitated the design relationship, ironically it was Milender White’s proximity to the property through a competing product that started the relationship on the construction side.
“When Greystar bought this property, Milender White was building a similar multi-family high rise on the next block,” says Shane Fobes, Construction Executive and Senior Vice President of Milender White. “We were delighted to give them a tour and the relationship blossomed from there.”
Parq on Speer, like the project Fobes was working on, sits just a hundred yards or so from Cherry Creek, which cuts a swift path along downtown Denver’s southern edge. One of the earliest preconstruction conversations Milender White had on the project centered around the commonalities in purpose and proximity of the two properties and reaping the benefits of lessons learned on the previous job.
“This close to the creek there will be a lot of groundwater,” says Fobes. “Going below-grade with the parking would be typical in a building like this but dewatering this particular site made doing so cost prohibitive. Putting parking in a podium reshaped budgeting early and influenced design substantially.”
At roughly 800,00-SF, Parq on Speer will be nearly double the size of what many would consider a large, single-building multi-family development in Denver. With the parking going vertical through the center of the block-long development, Parq on Speer’s design emerged to position the sixth-floor roof-top amenity deck as the focal point of the 302-residence apartment community. Looking out on the Front Range from a perch above Speer Boulevard, the pool deck is circled by units in the ten stories of tower rising above on three sides.
“Greystar is developing the building around a lifestyle that hits the upper threshold of the market,” says Fobes. “One of the advantages of the CM/GC process is it gives us a deep understanding of the owner’s vision for the finished spaces and their expectations for quality. This sets us up to secure the right subs for the work.”
During a year of preconstruction services, working with Greystar and Zeigler Cooper, the team dissected challenges large and small, typical and uncommon. On the common side, Fobes points out that the cost and criticality of a building’s structure are impossible to ignore on any project. In the case of Parq on Speer, post-tensioned cast-in-place concrete floor plates allowed the design great flexibility and readily accommodated the building’s curvatures. The Milender White team scrutinized the design documentation and solicited the support of several local structural subcontractors in a design-assist process to help ensure the solution would meet local means and methods. At 60,000-SF, the concrete pour sequencing for each floor plate had to be balanced with available manpower. To facilitate the swarming workforce required to build at the anticipated speed, a pre-cast redi-stair system was incorporated into the design that allowed construction labor walkable-access to the level two deck while at-grade work progressed at full speed.
“The focus has been building condominium-quality homes at apartment-quality speed,” says Fobes. “A simple thing like adding two flights of pre-cast stairs eliminated hundreds of workers climbing up chutes and ladders every day to get to and from the main construction deck for six or seven months.”
Though the cast-in-place concrete structure is typical for high-rise multifamily construction, the cladding system chosen has been a bit more of an adventure. Using Aluminum Composite Panels, known as ACM, the high-performance exterior panels interlock to form a sleek metal shell of skin that must be precisely aligned.
“The building is immense, the reveals along the panels have less than a half inch of variability, which has to be consistent vertically for 193 feet,” shares Fobes of the complexity of the exterior. “At this square footage, we believe this is the largest residential project ever clad in ACM and the manufacturer required us to guarantee panel production sizes eight months out from delivery.”
As construction approaches the final stretch, the clatter of men, machinery, motion, and anticipation of something big seems feverish on the job site. Fobes and Olaussen are both eager for the finished product but continue to relish the process.
“We were in preconstruction for a year and we’ve got a thirty-month construction schedule,” says Fobes with a smile. “We build a lot of great relationships on a project like this, between ourselves, with our clients, the design team, and subcontractors. It takes a lot of committed people working together to build something like this and when it’s done, everyone will be very proud.”