Investment Overview

Marcus & Millichap is pleased to present Sundance at Rock Creek, a 240-unit multifamily development that is currently under permit review. The property is situated on over 14 acres of land at the edge of Cheyenne Mountain State Park, about 15 minutes from Downtown Colorado Springs and 25 minutes from Garden of the Gods park. Sundance at Rock Creek Apartments will be comprised of seven unit buildings, four carriage houses, one clubhouse, one maintenance/bike building, and nine garage structures. The unit mix consists of 106 one-bedroom units, 113 two-bedroom units, and 21 three-bedroom units averaging 717 square feet, 1,042 square feet, and 1,268 square feet, respectively. Located in the foothills of the Rocky Mountains, Colorado Springs has become a hotspot for young, affluent professionals because of its high quality of life and relatively low cost of living. The pandemic catalyzed this trend after many companies implemented long-term or permanent remote work policies, which has lured renters away from pricy urban markets. This trend paired with the shift in consumer preferences that saw renters migrating to less dense areas with greater proximity to outdoor recreation will allow the Colorado Springs Multifamily market to outperform other metro areas for a number of years.