Colorado Springs Site for Trio of New Multifamily Projects

Greystar and Origin Investments are working together on the Elan Rio Grande, an $83.1 million multifamily community at in Colorado Springs.

In addition to Elan Rio Grande, the venture has two additional projects under construction in Colorado Springs. The site of the new community is essentially adjacent to another of the joint venture’s developments. Combined the three developments, Elan Rio Grande, Ensley and Fiona total more than 810 units and have a construction value exceeding $261 million. All three developments are within opportunity zones and further enhanced by TIF programs.

“We continue to be bullish on Colorado Springs, viewing it as a high growth market that has been significantly underserved by modern, well-located, high-amenity rental communities,” said Origin Investments Tom Briney’s. “With the start of Elan Rio Grande, we now have three distinctive communities to serve the needs of renters at a variety of demographic levels.” Elan Rio Grande is slated for completion in Fall 2024.