The 135 Adams Street project built by GH Phipps first opened in 2020 as Studio 135, offering boutique apartments starting at under 300 square feet for those who wanted to live in Cherry Creek but might not be able to afford the high price tag of luxury complexes in the area. “This was initially the first micro-product to hit Cherry Creek North,” says Terence Garrett, who now works for City Lights Denver but was with Boutique when the building opened. Over the last five years, Garrett says, the team realized the same opportunity that existed for renters interested in micro-properties could exist for buyers, too. So the second and third floors of the property will still be rentals, but the fourth and fifth floors have been converted to condos so that people can purchase individual units. According to Garrett, the City Lights team discovered Cherry Creek is slated to gain 1,600 to 2,000 new luxury rental units in the coming years. With rents in luxury buildings often well over $2,600 p...