Canvas at Centennial

Centennial, CO

114 Units | Build-to-Rent Duplex Community

Closing in April 2026, Canvas at Centennial is a 114-unit, Class A build-to-rent (BTR) townhome community co-developed by Zeller and Watermark Companies. Located on an approximately 7-acre infill site in Centennial, Colorado, named the #1 Best Place to Live in Colorado by U.S. News & World Report, the project will redevelop a portion of the existing Festival Shopping Center into a new residential community.

Canvas at Centennial offers two-, three-, and four-bedroom, three-story townhomes averaging approximately 1,397 square feet, each with an attached two-car garage.

Area Highlights include walkability to retail, two Whole Foods markets, Target, Life Time Fitness, South Suburban Golf Course, parks and outdoor recreation, and top-rated schools including Arapahoe High School and Valor Christian High School within five minutes.

Key Milestones

  • Land Close: April 2026

Canvas at Centennial is uniquely positioned in one of Denver’s most affluent and supply-constrained suburbs. Located just north of C-470, minutes from I-25, and less than 15 minutes from the Denver Tech Center (DTC), the region’s largest employment hub, the site offers residents exceptional access to jobs, schools, and amenities. Centennial is a fully built-out suburb with virtually no remaining buildable land, and the absence of competing build-to-rent supply in the immediate submarket makes this a rare and difficult-to-replicate opportunity.

Watermark acting as co-GP, brings a vertically integrated platform, including in-house land developer Rhino Development and homebuilder Rhino Residential, delivering cost control and schedule certainty.