Pearl at Boulder Commons Consists of Three Mixed-Use Buildings Featuring Multi-Family Living and Retail Space at the Intersection of 30th and Pearl Street; Kicks off Affordable Retail Partnership With City of Boulder

DENVER Boulder Commons – a joint venture between Grounded Capital, an investment firm based in San Francisco, and Boulder-based developer Morgan Creek Ventures – announced today its ribbon cutting ceremony to celebrate the grand opening of the Pearl at Boulder Commons, the third completed phase of its mixed-use development. Pearl at Boulder Commons features 108,000 square feet of multi-family and retail space spread across three mixed-use buildings at the corner of 30th and Pearl.

“It is exciting to play a part in revitalizing the Boulder Junction neighborhood,” said Parren James, a principal at Grounded Capital. “Pearl at Boulder Commons is a highly sustainable, all-electric project that sits at the corner of 30th and Pearl, and is just one part of a larger intention to build community among this reimagined neighborhood.”

Pearl at Boulder Commons integrates energy efficiency, onsite solar power generation, and human-centered design to foster an aligned community. Constructed by W.E. O’Neill Construction with design by Coburn Architecture and energy modeling and systems engineering by Mazetti, the buildings aim to use 35 to 50% less energy than a typical multi-family building. 

Pearl at Boulder Commons features 77 one-, two- and three-bedroom apartment homes that are 100% electric and include Energy Star-certified appliances, modern two-toned cabinetry, under cabinet lighting, floor-to-ceiling living room windows, and a balcony or terrace. Technology is utilized in an effort to maximize energy and water efficiency via air sealing, continuous exterior building insulation, highly insulative triple- and quad-pane windows, eGauge energy metering systems, LED lighting, water saving fixtures, and low-water irrigation systems and plantings. Feature amenities include lobby lounges, roof decks with dramatic views of the Flatirons, and underground garage parking. An art collection featuring murals, sculptural wall installations, fine art prints, and original 2D works by a mix of established and emerging Colorado artists was curated by NINE dot ARTS. Greystar is the residential leasing agent. 

With spectacular visibility and exposure along the main thoroughfares of Pearl Street and 30th Street, the 19,500 square feet of retail space at Pearl at Boulder Commons also marks the kick-off of a unique partnership with the City of Boulder. The partnership provides below-market rate commercial space to qualified tenants in order to create affordable retail space within the property that encourages the development of small local business and preserve small local independent businesses and nonprofits which are being priced out of Boulder as locations redevelop and commercial rents escalate. 

“The retail for Pearl at Boulder Commons is located at what is becoming a second business hub, after downtown Boulder, but with a much higher residential density in a smaller area,” said Angela Topel, vice president of brokerage at Gibbons-White, the commercial leasing agent for the project. “This retail space is centrally located for easy access in and out of Boulder quickly with convenient access to bike and nature trails, public transportation, the Google Campus, Whole Foods, and the vibrant 29th Street Mall. Boulder Commons embodies the vibrant spirit of Boulder’s thriving community, encompassing a variety of dining, entertainment, and future growth prospects.”

Boulder Commons is a constellation of four sustainable urban infill projects including office, retail, and multi-family residential buildings strategically located along the Goose Creek bike path­ at the RTD transportation hub in the Boulder Junction neighborhood. This construction project represents the final phase of the Boulder Junction Phase I master plan, a multi-year effort by the City of Boulder, Boulder Housing Partners as the master developer, RTD, and many other community groups. 

The Boulder Commons construction schedule is highlighted by the following milestones: 

  • 2018: Boulder Commons Phase I was Colorado’s first Net-Zero-aspiring, multi-tenant office space. The 100,000 square foot project featuring office and retail space at 2440 and 2490 Junction Place is Energy Star-certified and features a large solar photovoltaic system that provides a majority of the building’s electricity needs. Initial leases included energy conservation concepts for the office and retail spaces, aligning tenants, and ownership around energy consumption goals. 
  • 2021: Boulder Commons Phase II added Bluff at Boulder Commons, a Net Zero-aspiring apartment building with 37 units and a 50,000 square foot office building with significant outdoor deck and amenities space at 3200 Bluff and 56,000 square feet of office space at 2530 Junction Place. Phase II saw the first installation in the United States of the PIRANHA Heat Recovery System, a specialized water-to-water heat pump that recovers energy directly from wastewater and uses this source energy to produce hot water. 
  • Fall 2023: Boulder Commons Phase III features the 108,000 square feet in multi-family and retail space now ready to lease at Pearl at Boulder Commons at the intersection of 30th and Pearl. 
  • Summer 2024: The fourth and final phase of the Boulder Commons development pipeline is an 89,000 square foot multi-family residential project spread across four buildings that integrates energy efficiency, onsite solar power generation, and human-centered design to foster an aligned community. Construction of the project, located at the corner of Spruce Street and Junction Place, broke ground the summer of 2023 and is slated for completion with leasing of the units beginning in the summer of 2024. This final phase of development will provide 83 one-, two- and three-bedroom apartment homes and feature amenities including roof decks with dramatic views of the Flatirons. Currently being constructed by ARCO/Murray with design by Coburn Architecture and energy modeling and systems engineering by Mazetti, the buildings aim to use approximately 35 to 50% less energy than a typical multi-family building. 

For more information on the project or to inquire about leasing an office, retail space or residential unit, visit

About Grounded Capital:
Grounded Capital was created to pursue ideas and solve problems through direct investments of private, long-term financial capital on behalf of aligned investors. We believe in a systems-based and holistic approach to responsibly grow capital and achieve Impact across our Five Areas of Focus: Places, Energy, People, Food and Nature. We celebrate opportunities to be in relationship with others in ways that embrace a mindset of abundance, partnership, and interdependence to collectively build the health of the social, ecological, and financial systems of which we are all a part. Learn more at,

About Morgan Creek Ventures:
Morgan Creek Ventures LLC is a real estate development firm based in Boulder, Colo. that was founded by Andy Bush in 2001. The firm specializes in urban infill projects with a focus on design and sustainability. Working primarily in Colorado and California, Morgan Creek Ventures has managed the development and redevelopment of over 750,000 square feet of office, residential and mixed-use projects. The firm’s focus on sustainability has resulted in several pioneering efforts including the first LEED Platinum tenant improvement project in the country, the first privately developed green roof in Colorado, as well as one of the first Net Zero multi-tenant buildings in the country. Over the past decade, the firm has developed a variety of LEED Gold and Platinum designs, expanding their experience base in energy management, material science, and user experiences, pushing the envelope toward Net Zero Energy. Learn more at,