Thursday, May 30, 2013


Rendering of the view looking west from Tutt Boulevard.


View of current construction facing north on Tutt Boulevard.

Colorado Springs, CO – Western National Group, Nor’wood Development Group and Griffis/Blessing, Inc., are pleased to announce the Encore at First and Main apartment community located on the east side of Colorado Springs. The 315-unit property will be nestled between First & Main Town Center and Springs Ranch Golf Club, and will be the city’s first “urban-themed” community, taking exterior and interior design cues from larger markets such as Denver, New York and Los Angeles.

The community, currently under construction at the intersection of Tutt Boulevard and North Carefree Circle, is set to open in the next couple months and will fill a need for multifamily housing along the rapidly growing Powers Corridor.

“We are bullish about the Colorado Springs apartment market and this project is the first of three projects currently under construction,” says Rex DeLong, President of Western National Realty Advisors. “We believe the market has great fundamentals including the forecasted growth in population and new jobs over the next few years.” The investment was made through Western National Realty Fund II, L.P. (“Fund II”), the firm’s second private equity fund.

“We’re excited to have Encore at the First & Main Town Center,” says Fred Veitch, Vice President of Nor’wood, who owns the land for the projects. “We believe living just steps away from a golf course, as well as some of the finest restaurants, entertainment and shopping in Colorado Springs, will create a unique living experience.”

Griffis/Blessing’s Multifamily Property Services group and Regional Manager Carmen Azzopardi, CPM®, will oversee the management of the property.

“We have been very fortunate to have the opportunity to work with Western National Group throughout this process, and we believe in their vision for these three new developments,” says Azzopardi. “We are also finishing the lease-up process for another Nor’wood community, and with this experience, we are very confident in the success of Encore at First and Main.” Day-to-day management will be handled by on-site Property Manager Simone Headen.

Pre-leasing festivities will be held on June 7th in the courtyard of the Cinemark Theatre at First & Main Town Center.

Western National Group is a 54-year-old, fully integrated multifamily acquisition, development, construction and property management firm headquartered in Irvine, Calif. Western National Group is one of the nation’s largest multifamily owners/developers and is the umbrella over five separate entities, which include Western National Realty Advisors, the development and acquisition arm of the firm; Western National Property Management, the property management arm; Western National Builders, the construction arm; Multifamily Ancillary Group, which specializes in optimizing ancillary income for owners; and Resident Group Services, the landscaping services arm. For more information, visit www.wng.com.

Since 1966, Nor’wood Development Group has been Colorado Springs’ leading developer with a portfolio in excess of 2.5 million square feet in retail, office and commercial space and 6,500 acres of residential and mixed-use land. Nor’wood is committed to the vitality of Colorado Springs through numerous high-quality, long-term developments that enhance and drive economic development to the city. For more information, visit www.norwoodinteractive.com.

###