Embrey Partners Closes Land Acquisition and Construction Financing for 324-Unit Clio at Rock Creek in Lafayette, Colorado

Embrey Partners Partners has closed on more than 18 acres of land and secured construction financing for Clio at Rock Creek, a planned 324-unit, three-story Class A luxury garden community in Lafayette, Colorado. Amegy Bank and Hancock Whitney Bank provided financing for the project, which has secured all required entitlement approvals and is preparing to begin construction.

The development marks Embrey Partners' 22nd project in the Denver market, where the San Antonio-based, vertically integrated real estate investment company has been active for more than 25 years. In that time, the firm has delivered more than 7,500 units in Colorado and currently has nearly 2,000 additional units in the pipeline statewide.

Project Location and Submarket Positioning

Clio at Rock Creek is situated at the northwest corner of U.S. Highway 287 and Dillon Road, along the U.S. 36 employment corridor between downtown Denver and Boulder. The site's density of roughly 18 units per acre is consistent with garden-style suburban development and positions the community within reach of several major employment drivers in the immediate area.

Nearby employers include Medtronic, whose Lafayette campus is the company's second-largest in the United States, supporting more than 1,200 local employees and hosting medical professionals from around the world for extended training and educational programs. Intermountain Health's Good Samaritan Hospital and the Colorado Tech Center also anchor employment demand in the submarket.

Casey Klein, Vice President of Development at Embrey Partners, cited the submarket's supply dynamics as a key factor in the firm's decision to proceed. "Lafayette is one of Denver's most supply-constrained submarkets and we are excited to be a part of such a wonderful community," Klein said. "We are grateful to all our partners who continue to believe in high-quality real estate in high-quality locations."

Unit Features and Amenities

Units at Clio at Rock Creek will feature quartz countertops, designer kitchen cabinetry, walk-in closets, and keyless entry. Community amenities are planned to include micro-offices, a fitness studio with a yoga room, a game room with a billiards table, a resort-style pool and hot tub, a dog park, and a pet spa with a grooming station.

Construction is targeted to begin in the third quarter of 2026, with the first residents expected to move in during late 2027.

Embrey Partners' Investment Rationale

Garrett Karam, Chief Investment Officer at Embrey Partners, pointed to the project's cost basis and submarket fundamentals as central to the firm's underwriting. "Denver remains a market where we are actively pursuing developments that meet our standards," Karam said. "With Clio's strong basis, supply-constrained submarket, and proximity to high-quality employers, we are pleased to be breaking ground and look forward to a successful development."

Denver Multifamily Market Context

The Denver multifamily market has been working through a period of elevated supply. Vacancy reached 11.7% and asking rents declined 3.8% year-over-year in the third quarter of 2025, with approximately 12,867 units under construction at that time — down sharply from a peak of nearly 32,000 units under construction in 2023. New construction starts have fallen significantly due to financing challenges, rising costs, permitting delays, and affordability mandates.

By the first quarter of 2026, market conditions showed signs of stabilization, with occupancy improving to 93.2% — up 40 basis points quarter-over-quarter — and net absorption turning sharply positive at 2,776 units, reversing negative absorption of 3,519 units recorded in the prior quarter. Roughly 9,000 units were scheduled to deliver in 2025, approximately half the volume added in 2024, a deceleration expected to reduce supply pressure for communities delivering in the 2027 timeframe.

Embrey Partners currently has more than 6,000 units under construction or in development across its broader portfolio, which spans Texas, Arizona, Colorado, Florida, North Carolina, and Tennessee. Since its founding in 1974, the family-owned firm has developed more than 50,000 apartments and over 6 million square feet of commercial property.

About the Lenders

Amegy Bank, a division of Zions Bancorporation, N.A., is a Texas-based bank with $14 billion in assets and approximately 1,000 employees. The bank operates more than 75 locations across Houston, Dallas-Fort Worth, and Central Texas and specializes in serving middle market and family-owned businesses. Hancock Whitney Bank also participated in the construction financing for Clio at Rock Creek.

Sources:
Embrey Partners — Official Announcement