In the summer of 2019, RE | Solutions, in a joint venture partnership with Berland Development Group, formed “29X Landco LLC” (29X) and acquired the office building housing “The Creative Farm” a small co-working space in the West Highland neighborhood of Denver. The 0.3-acre property was historically used for dry-cleaning operations and contains residual perchloroethylene (PCE), a dry-cleaning solvent, in soil and groundwater.

29X enrolled the property in the Colorado Department of Public Health and Environment’s (CDPHE) Voluntary Clean-Up Program (VCUP) and operated the property through the summer of 2021 while the design and entitlements for a new 42-unit multifamily apartment project were being completed. As a result of its enrollment in the VCUP, the project has benefitted from a low interest rate loan funded through the Colorado Brownfields Revolving Loan Fund, administered by the Colorado Housing and Finance Authority, designed specifically for the clean-up of environmentally contaminated commercial sites. A No Action Determination from CDPHE is anticipated in 2023.

29X has contracted with Fiore and Sons to complete the abatement and demolition of the existing improvements, and K2 Residential Solutions as the general contractor of the new three-story over podium parking apartment building, to be called “West 29th.” Work to remove the existing site improvements started in October 2021 and vertical construction is anticipated to begin in late 2021. K2 and 29X anticipate approximately 16 months to complete the vertical construction and deliver the 42 market-rate units.