Update 1/19/18 – Blue Wing Development has opened its multi-story self-storage facility in Arvada, Colo., according to a press release.
“The city responded to market demand in a thoughtful process that included input from the developer community. The resulting design standards require attractive multi-story buildings, rather than the ugly, industrial-garage projects of the past,” Shaw said. “I am proud of the building we designed for a difficult lot. Our architectural team knocked the ball out of the park.”
While satisfying pent-up residential demand, the facility will also support small businesses and entrepreneurship in the area, the release stated. “Research shows that 25-plus percent of all self-storage demand comes from small business,” said Ryan Stachelski, director of the Arvada Economic Development Association. “Congratulations to Blue Wing Development for being first to market with a stunning new facility. We look forward to them supporting small business throughout the Arvada municipality.”
12/9/16 – Arvada officials have approved a site development plan that will allow Blue Wing to move forward with its $7 million Ralston Valley Self Storage project on 69th Ave. Designed by Golden, Colo.-based Studio DH Architecture, the 89,539-square-foot facility will feature keypad entry and video surveillance. Blue Wing expects to begin construction in February. The new facility will be managed by real estate investment (REIT) firm Life Storage Inc. and carry the REIT’s branding, according to the source.
“This area of Arvada is experiencing explosive growth, and up until this year, there were no parcels in the area that offered storage as a use by right,” Shaw told the source. “It’s going to be a high-quality product, and we’re excited to offer it to the community.”
A zoning change was approved by the city prior to Blue Wing closing on the parcel in August, Shaw said.
8/11/16 – Blue Wing Development LLC, a boutique real estate development firm specializing in self-storage, has purchased a 2.88-acre parcel at 14872 W. 69th Ave. in Arvada, Colo., on which to build a new facility. A preliminary development plan for the three-story, 89,710-square-foot, climate-controlled building is under review by the city, with construction expected to begin in early December. A grand opening is scheduled for September 2017.
“We are excited to bring our 645-unit, class-A facility into the capacity-constrained Arvada market,” said Peter Shaw, managing member. “Residential growth in the area is explosive, local facilities are all full, and high barriers to entry still exist on that side of town. We will satisfy the enormous pent-up demand for quality self-storage operations in the area.”
This is Blue Wing’s second self-storage development in the metro Denver market, according to a company press release. Ownership has taken under a special-purpose entity, Blue Wing Storage Partners II L.P.
In addition to self-storage, Blue Wing develops specialty projects targeting the fitness and healthcare industries.
Source:
Colorado Real Estate Journal, Self-Storage Facility Planned in ‘Underserved’ Area of Arvada
