In 2012, due to the high demand and limited supply for student housing in the downtown area, the Auraria Student Lofts were created as part of a $1.2 million renovation plan at The Inn at Auraria. As a result, the first 14 floors were re-branded as the Curtis Hotel and the upper 16 floors were repurposed for the Lofts.
The Lofts consist of 438 bedrooms and 125 total units consisting primarily of 2 and 4 bedroom units. Each student has his or her own private bedroom and the units are furnished with a full size bed, full size kitchen, loft style accents and beautiful mountain and city views. Average rent per bed is currently $674 per month.
New Renovations and Amenities
In June 2013, an additional $2 million in renovations were used to improve the facade, signage, units, lobby area and common areas. In addition, an impressive variety of new amenities were added to enhance the student experience. These include a new rooftop pool with an outdoor lounge, tanning space, a grill area and turf grass for lawn games. The upgrades also include a brand new state of the art, 2000 square foot fitness center, on-site laundry facilities, a clubhouse with flat screen TVs and a contemporary lobby space was added equipped with a fireplace, lounge area and iMacs.
The Auraria Student Lofts is centrally located in downtown Denver with numerous restaurants, bars, entertainment venues, shopping and nightlife within a few blocks. The property is just two blocks from the 16th street Mall, a pedestrian mall lined with outdoor cafes, historic buildings, sparkling glass-walled skyscrapers, shops, restaurants and retail stores.
The Lofts are currently 100% leased for the 2013-14 school year and 99% leased for the 2014-15 school year. All leases are for 12-month terms. As the lease up was stronger than expected this year, management raised rents an additional 12% over previous rents for the last 20% of leases signed.