The Foundry Named Finalist for NAIOP Deal of the Year

One of Brinkman’s landmark public/private partnerships, The Foundry, was named a finalist for the NAIOP Deal of the Year in 2020. Ten years in the making, The Foundry is a work of art that transformed Loveland’s historic downtown by revitalizing three underutilized city blocks from First to Third Streets between Lincoln and Cleveland Avenues. This project brought in over 600 full-time jobs during construction and approximately 120 full-time jobs once operation.

This 415,000-square-foot new development, covering four acres in the center of the Sweetheart City, offers luxury apartments with ground-floor restaurants, a seven-screen MetroLux Dine-In Theatre, Towneplace Suites by Marriott, convenient 460-stall public parking garage, and a central plaza for entertainment. The perimeter of the plaza includes tivoli lights above outdoor walkways, seating areas, and fire pits creating a welcoming gathering place for community members. The multi-colored LED splash pad creates a unique focal point and play area for families during the warmer months.

The two multi-family buildings, Patina Flats at The Foundry, offer 155 units of luxury living in Downtown Loveland. With a variety of studio, one-, and two-bedroom units, the buildings were over 90% leased shortly after opening. Residents of Patina Flats are spread across two buildings, one facing Lincoln Avenue and the other facing Cleveland Avenue.

The two buildings share amenities including a rooftop patio space with a pool table, full kitchen, television, fire pits, and outdoor seating with views of the foothills. In addition to the fifth-floor community space, the two buildings share a state-of-the-art fitness center and enjoy easy access to the ground-floor restaurant tenants including coffee, tacos, and other local fare.

The public parking garage offers 460 spaces, including 155 tuck-under parking spaces reserved for the Patina Flats residents (one per unit). To add to the arts-centric culture of Loveland, the garage is adorned with a colorful mural that was commissioned by the City of Loveland to add to the vibrancy of the development. Utilizing nearly 200 different colors, the artist created a mural that celebrates Loveland’s iconic highlights.

The 63,000-square-foot, four-story TownePlace Suites by Marriott offers 102 rooms and features an indoor pool, fitness center, lounge, and 1,000 square feet of divisible meeting space. The hotel caters to business travelers and tourists alike, offering free wireless internet, a business center, and pet-friendly accommodations.

The seven-screen, 625-seat first-run MetroLux Dine-In theatre is the flagship of the 43,000-square-foot central community plaza and serves as one of the main draws for entertainment and arts to Downtown Loveland. The theatre includes a full bar, restaurant, and reclining seats. Movie goers have the opportunity to dine in the restaurant or “eat at their seat” during the films.

The Foundry aligns with the City of Loveland’s long-term vision for the revitalization of the historic downtown region by helping to create a catalytic effect that propels economic and social vitality. The multi-family buildings are significantly increasing density within the downtown corridor and the public plaza has become one of the main areas for hosting family-friendly events for the community. Through a collaboration with the Loveland Downtown Partnership, free programming was provided throughout the spring and summer including community concerts, movie nights, and maker’s markets.

A true public/private partnership, The Foundry was developed by Brinkman, with Brue Baukol Capital Partners co-owning the mixed-use buildings and theatre, and Colmena Group co-owning the hotel. The City owns the public parking garage.