Inn remodeled to Student Lofts

In the spirit of the new year, the Inn at Auraria, a residence exclusively for students of the Auraria Campus, is getting a makeover. With new management and renovations all across the high-rise property, which sits on 14th Street between Curtis and Arapahoe, the Inn has now become the Auraria Student Lofts.

The redesign and rebranding campaign began last July, when Cardinal Group Management and Advisory, LLC replaced American Campus Communities as the property's management firm. The Auraria Foundation owns the building. Based in Denver and San Francisco, the Cardinal Group develops and operates student housing communities across the country.

The company's particular expertise, though, is to transform those communities that underperform. Within one year, the Cardinal Group managed to boost the occupancy rate of the WestMar Student Lofts in Atlanta from 10 percent to 100 percent. The property has since had to place some applicants on a waitlist and is already 50 percent leased out for the fall 2012 semester.

Marketing and Leasing team leader Ryan Sundling hopes the project in Denver will be a similarly intriguing endeavor: "That's the plan with this: to mirror WestMar, to put in those amenities and make it the best student housing community in Denver," he said.

When the Cardinal Group checked into the Inn, only 62 percent of the building's 439 beds were occupied. "They [The Cardinal Group] felt it was undermanaged and that it just wasn't given the attention it deserved," said Sundling.

"This is a fantastic location: two blocks from campus, two blocks from the 16th Street Mall. There's not many places like this in the country. Not being at 100 percent full, they really saw it as an opportunity, I guess, a diamond in the rough," he said.

Despite offering furnished units with full kitchens, the Inn still needed work. "It was boring," Sundling said. "When we came in in July we talked to a lot of the current residents and even though they're in the middle of downtown, they felt there wasn't enough to do because our building didn't have any amenity space. If you go to the Regency, they've got all those fancy amenities. That's just something we didn't have."

But the folks at Auraria Student Lofts are working on it. The Cardinal Group, according to company documents, expects to spend more than $1 million on improvements to the communal spaces of the building. This includes fresh paint and carpet in the halls, enhanced security features, and a hip new design scheme. Sundling says the aim is to make it not seem like student housing. He wants visitors and residents to think "Are we in the right place? Is this really student housing?"

"Normally you're thinking student housing is going to be a run-down dump, so we're hoping for that real glitzy feel but also quirky and fun," he said. "We're not boring, staunchy 80-year-old men. We want it to have a good vibe, something that feels fun. That's what the students want."

The company is also remodeling the building's lobby. With frontage on 14th Street, directly across from the Denver Center for Performing Arts, the refurbished lobby will give the Auraria Student Lofts an entirely different street presence. Renderings of the space show a row of computers, a loft with conference space, and a seating area with clean, modern lines and bold colors. Construction on the project is currently underway, and is expected to be completed by March or early April.

Most ambitious, though, are the company's plans to renovate the third floor to include a massive amenity suite. The suite, which is slated for completion by the start of the upcoming fall semester, will replace the eroded, rooftop tennis court with a small pool, outdoor lounge space, and basketball court. The rooftop deck will also be anchored by a two-story fitness center, a new study lounge, and an indoor/outdoor kitchen with glass garage doors.

The new management is also considering other changes to expand the college experience for residents in the fall. The company is exploring a meal plan in cooperation with the Curtis Hotel—which is located in the same building—as well as an exclusive discount card for area restaurants and businesses. Sundling said the company is also "upgrading the community events from what the old management had, and making it more fun, exciting and engaging." This includes a dodgeball tournament in February at the nearby Denver Athletic Club.

"As a building for students, we want to cater to the schooling side, which is a very important part of their lives," he said. "But they're not in school the whole time, so we want them to have fun and grow personally as well."

What truly redefines the new Auraria Student Lofts, though, is the Cardinal Group's approach to its relationship with its residents. Comparing the new community to competitors like The Regency and Campus Village, Sundling said, "Another big difference is how we are on that same level as the students. The Regency might be just a little more like a traditional management company and not as down to earth. Both of them are more dorm-like in our eyes. We've got full kitchens. We give everybody the freedom that they deserve as adults."

But the management is still willing to be understanding about the unique situation of an urban student. "A lot of them [the students] are new to renting an apartment, and they don't know all the ins and outs. If they make a late payment, we can work with them," he said.

Part of this attitude stems from the makeup of the Cardinal Group. "It's a really young company—the owners are only in their thirties—but it's growing really fast. I've worked at other student housing communities where everything is just real staunchy," he said. "These guys are willing to embrace technology and new ideas and aren't stuck in their ways in how things have been done for a hundred years."