Terra Village Apartments have been sold to a California investment group Trion Properties for $110 million dollars. Trion has said they will rename the property “EDGE 26 at Sloan’s Lake” and invest in new upgrades and renovations throughout the property.
According the Trion website, “With average incomes north of $100k and home prices regularly selling for north of $1m within the submarket, there’s no question that the neighborhood isn’t getting any cheaper. With that said, we see this property attracting a similar renter pool, looking to enjoy what Edgewater/Sloan’s Lake has to offer, at a relatively affordable cost of living.”
Terra Village last sold in 2015 for $47 million dollars.
With the increased investments in the property, rents will continue to increase at Terra Village and price out current residents. The foundation of Edgewater’s history is a place for immigrants and those starting on the path to the American dream. That pathway is quickly disappearing.
Joel has been a resident of Edgewater, Colorado with his family since 2012. He is the Executive Director of local education nonprofit Edgewater Collective and Editor of the Edgewater Echo.
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