K&P Kestrel & Pike
The Mercantile at RiNo, a six-story rust brick and glass building with a glass-walled ground-floor food hall and a colorful mural on the adjacent wall
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River North Art District

The Mercantile at RiNo

3001 Larimer Street, Denver, CO 80205 · Delivered June 2016

214

Residential units

310,000

Total sq ft

248,000

Residential sq ft

62,000

Commercial sq ft

6

Stories

212

Parking spaces

About this project

The Mercantile is the project that made the block. Built on a former rail-supply yard, it brought a food hall, a bike shop and a day-care to a stretch of Larimer that had no active storefronts. The building stabilized at a 5.1% cap rate in March 2018 and was refinanced the same year; it remains in the Kestrel & Pike Fund II portfolio.

Highlights

  • 12-bay food hall leasing at opening — Denver's first of its kind in RiNo
  • Stabilized March 2018 at a 5.1% going-in cap rate
  • LEED Gold certified, with a 96-spot structured bike room
  • Winner, 2017 Denver Design Awards — Mixed-Use Building

Construction timeline — The Mercantile at RiNo

Scrub from land acquisition to ribbon cutting.

The former rail-supply yard on Larimer Street before acquisition, old rail tracks in gravel beside a weathered brick warehouse with graffiti murals nearby
March 2013Complete

Land acquisition · March 2013

The firm acquires a 1.9-acre former rail-supply yard on Larimer Street, betting on RiNo two years before the neighborhood's rezoning.

Portfolio

More Kestrel & Pike buildings

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Arapahoe Crossing, a five-story rust brick and glass building on a dense downtown Denver corner with glassy street-level retail, street trees and taller towers behind Completed

Downtown Denver

Arapahoe Crossing

Our first ground-up project: 84 apartments over 27,000 sq ft of street-level retail, two blocks from Union Station.

Units
84
Total sq ft
105,000
Stories
5

Delivered March 2013 · 1455 Arapahoe Street, Denver, CO 80202

Alta Alameda, a four-story rust brick and glass building on busy South Broadway with a ground-floor grocery, produce visible through the windows and cars on the street Completed

Baker

Alta Alameda

168 apartments and a South Broadway grocery anchor, built with 14% permanently affordable units under Denver's inclusionary policy.

Units
168
Total sq ft
245,000
Stories
4

Delivered September 2018 · 1120 South Broadway, Denver, CO 80223

Chestnut Row, a five-story rust brick and glass building with corner shops, stoop-style townhouse entries along the side street and the downtown Denver skyline in the distance Completed

Highland

Chestnut Row

192 homes over 44,000 sq ft of shops, delivered eight weeks into the pandemic and leased to 92% within its first year.

Units
192
Total sq ft
280,000
Stories
5

Delivered May 2020 · 1701 Chestnut Place, Denver, CO 80211