DENVER-When the Finger Co. of Houston started scouting the Denver area to build what it considers the most luxurious multifamily rental community ever seen in the metro area, the economy was booming. Today, the apartment market is in its worst shape in about a dozen years, but the 387-unit Promenade Place may be the most luxurious community ever built in the area.

The first units in the eight-story midrise, one of three buildings under construction will open next month, and most of the units will be available early next year.

The units will be the most expensive ever in the metro area, with rents as high as $1.50 per sf. That equates to more than $3,300 a month for the largest units, three-bedroom, two-bath apartments with 2,217 sf.

The models already are open and the first units will be available for occupancy in December.

Marvy Fingers, who started his namesake company in the early 1960s after three years in the homebuilding business, takes a long-term perspective on the market.

On a recent visit to Denver, Finger sat in the executive center conference room at the Promenade, and told his company takes a long-term look at the market, and realizes today that it is a sluggish market.

The Finger Cos. is not a merchant builder that hopes to flip the product as quickly as it can, he notes.

The Finger Cos. has built more than 25,000 units in Texas, Georgia, Illinois and Minnesota, but this is its first development in Colorado.

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