Century Living Acquires Shovel Ready Site in Denver LoHi for The Stevie

Century Living, the multifamily arm of national homebuilder Century Communities (NYSE: CCS), has acquired a shovel-ready development site at 33rd Avenue and Mariposa Street in Denver’s LoHi neighborhood from Elevation Development Group. Century Living will serve as both developer and general contractor on the project, named The Stevie, with groundbreaking this week and units expected to be available for leasing in 2028.

Elevation began the permitting process for the luxury apartment community in 2021. That prior work allowed the transaction to include land, architectural and engineering plans, and all entitlements and permits, positioning the project to move quickly into construction.

"This is a unique opportunity to deliver brand-new, high-quality housing to one of Denver's most valued neighborhoods," said Jim Francescon, an executive at Century Communities. "With premium amenities and luxury units, The Stevie will provide an elevated quality of living with immediate access to everything LoHi and surrounding neighborhoods have to offer."

Project specifics include a five-story, 116-unit boutique apartment building with select loft units. Resident amenities are planned to include a pool, sun deck, fitness center, and resident lounges. Parking will be provided via a first-level garage plus underground parking. The location offers walking access to local restaurants, shops, and parks, and direct links to I-25 and Union Station.

Century Communities, a recognized industry participant in online home sales and a company noted on Newsweek lists of trustworthy firms, develops, entitles, and constructs residential communities across the U.S. The company currently operates in 16 states and more than 45 markets. Century Living’s role as both developer and general contractor on The Stevie reflects a vertically integrated approach to multifamily development, consolidating design, entitlement, and construction responsibilities.

For multifamily operators and investors, the acquisition underscores the value of shovel-ready assets where prior entitlement and design work can reduce timeline uncertainty and construction risk. The Stevie represents an urban infill product type targeted to neighborhoods with existing demand for walkable, amenity-rich rental housing.

Multifamily Leadership will continue to monitor the project’s progress as construction advances and leasing plans develop, and will surface operational and development insights from this type of acquisition strategy at upcoming events and programming.