A Chicago-based developer plans to build a 242-unit apartment building in Denver’s Riverfront Park neighborhood.

AMLI Residential paid Denver- based East West Partners $9 million for a 2.67-acre site on the southeast corner of 20th and Little Raven streets.

The real-estate investment trust has several apartment communities in the region, as well as a site at Interlocken that it recently purchased to develop.

“They’ve been very aggressive in Denver lately,” said Chris Cowan, senior land associate at ARA Colorado who brokered the deal. “They’re just gearing up and looking for development opportunities.”

AMLI’s project is one of a number of apartment buildings slated for development in or around downtown Denver.

Vancouver, Wash.-based Holland Partners is planning an 18-story tower, which will include street-level retail, to the west of Union Station. And Denver developer David Zucker recently announced he’s building a $60 million apartment project at 17th and Chestnut streets.

Randy Nichols has a 307-unit apartment project in the works for 20th and Chestnut. He’s talking with King Soopers and Safeway about opening a 43,000-square-foot grocery store in the project.

Tami Door, president and chief executive of Downtown Denver Partnership, said there is a trend of young professionals migrating to city centers.

“One thing we know for sure is that 25- to 35-year-olds nationally are making major movements into urban centers, and they’re desiring to live within 3 miles of an authentic urban city,” Door said. “Denver’s growth is exponential in attracting that particular age group. There also is a trend that more people are choosing to rent rather than buy. It gives them great freedom.”

Cowan estimates that up to 2,600 apartment units will be delivered in metro Denver next year; about 4,000 in 2013; and up to 6,000 in 2016.

But even with all the new projects being built, Cowan expects the apartment market to remain strong. About 4,500 units are absorbed each year, he said.

“We’ve had a limited to no pipeline over the last two or three years,” he said.

ARA has recently closed three other land deals that were in the works about a year ago, said Steve O’Dell, ARA Colorado principal and Cowan’s partner in the transaction. He expects to close several more in the first quarter next year.

Margaret Jackson: 303-954-1473 or mjackson@denverpost.com