New luxury apartments coming to Pueblo to be built overlooking the Arkansas River

PUEBLO, Colo. (KRDO) -- A new housing development is coming to Pueblo. These new apartments, however, come with a steep price tag.

The new apartment complex, designed by Denver-based firm Venture Architecture, will be six stories and considered luxury and upscale. According to the firm, the new units will be built off Pearl St., southeast of the 4th Street Bridge.

The firm, which says it specializes in client-centric designs, says the apartment complex will include a gym, coffee shop, spa, and more.

Rent will run between $1,500 and $2,000 a month.

John Wark, one of the developers originally from the Pueblo area, says there is a demand for more upscale housing in Pueblo.

“All housing has to be affordable by somebody or it cant be built so there is a demand for this," said John Wark.

Pueblo Mayor Nick Gradisar agrees and says he believes it will free up other apartment complexes.

“Once this apartment project is built even though it will be market rate and people will be paying much higher rent there than some other places they will be moving out of places that other people will be moving into," said Gradisar.

The developer says the project is projected to be finished in 2024.

When asked about more affordable housing, Gradisar told KRDO there will be developments in the future.

"We will get affordable housing sometime soon," said Gradisar.  

According to the US Census, the median household income in Pueblo is $49,970.