Denver is 6th Fastest Growing City

Denver Skyline
Forbes just released it’s annual ranking of the fastest growing cities in the country.  This year Denver was up to #6 from #16 in 2013.  Forbes takes into consideration population growth, job growth rates, unemployment rates, median salaries for college-educated workers and some other factors.  Austin was number one followed by Raleigh, Phoenix, Dallas and Salt Lake City.  Denver’s economy continues to strengthen in all areas.  To read the whole story, click here.

Union Station Update

Union Station Day
The Union Station Neighborhood is starting to take shape.  Cadence, the first apartment building, is now open with tenants happily enjoying the building.  The North and South Wing buildings are getting very close and the retail on the first floor will be open in a few short months.  Additionally, all of the retail was just announced in the Historic Union Station.  As you probably know, the majority of the building is being converted into 112 unit hotel named the Crawford Hotel.  Here is the list of tenants that will be open as of July 12th.
  • Milkbox Ice Creamery –Serving Little Man Ice Cream
  • Pigtrain Coffee – Serving Novo Coffee
  • Cooper Lounge
  • Terminal Bar – Serving 30 Colorado craft beers
  • Bloom – Great florist out of Cherry Creek
  • Eatmore Burgers and Brats
  • Fresh Exchange
  • Tattered Cover Book Store
  • Snooze – My personal favorite breakfast restaurant
  • The Kitchen Next Door
  • Alex Seidel’s Mercantile Dining and Provision – Chef and owner of Fruition
  • Stoic and Genuine Fish
The Union Station Neighborhood will have some of the best restaurants in all of Downtown.  Stay tuned as more great places open.

Market Finding Balance in 2014

In a recent Denver Post article, experts are expecting 2014 to be a more balanced market than 2013.  Last year had an incredible “gold rush” mentality with low interest rates and even lower inventory levels.  Buyer’s got very aggressive and in turn many sellers got lucky.  According to statistic from Metrolist, “the number of transactions closed jumped 26.3 percent, and the median price of a home sold was up 10 percent.”  This year the inventory level is even lower than it was in January of 2013 but experts believe the higher home prices and interest rates will keep a more level market with estimated growth of 6% or 7%.  Foreclosures were down over 60% from 2013 which is a great sign in any market.  This article has a lot of interesting information about the current market and expectations for 2014.  Click here to read the article.

Urban Neighborhoods are Aging

In a recent article by the Wall Street Journal, it states that the baby boomer generation is starting to flock back to a more urban lifestyle.  “Hip urban neighborhoods are aging, as a growing chunk of adults in their 50s and 60s and older give up their longtime homes and head for trendy condos.”  The  baby boomers are tired of the big suburban homes and maintenance once the kids leave and are ready for a new adventure.  In my experience, I’ve seen two main demographics in downtown Denver, the young professionals and the empty nesters.  The prices of real estate are being driven up by this “gold rush” as the baby boomers typically have more money to put down on a residence than a young couple just starting out.  This trend is only expected to continue as the boomers age.  This is a fascinating article, click here to read it.

Riverfront Park July Sales Update

RESIDENCE                   SALES PRICE        SF             BEDS/BATHS        SOLD DATE       STATUS

Promenade Lofts #213     $275,000          949          1 BD / 1 BA              07/02/13             Individual

Glass House #1803           $555,000          1,234       2 BD / 2 BA             07/03/13             Individual

Park Place #515                 $425,000          1,195        1 BD / 2 BA             07/03/13             Individual

Glass House #1005           $379,000           927          1 BD / 1 BA             07/05/13             Individual

ONE Riverfront #506       $700,000          1,288       2 BD / 2 BA              07/10/13              Individual

Riverfront Tower #302    $1,165,000        2,484       2 BD / 3 BA           07/19/13              Individual

Creekside Lofts #310        $292,000          843           1 BD / 1 BA           07/26/13              Individual

Riverfront Tower #503    $292,000          834           1 BD / 1 BA           07/30/13              Individual

 

June Riverfront Sales Update

RESIDENCE                   SALES PRICE            SF            BEDS/BATHS           SOLD DATE            STATUS

Delgany #307                $1,409,400                 3,575         3 BD / 4 BA          6/14/13                 Individual

Glass House #1922       $330,000                   747             1 BD / 1 BA          6/17/13                  Individual

Delgany #208                $420,000                   1,118           2 BD / 2 BA         6/19/13                 Individual

Glass House #910         $340,000                  783              1 BD / 1 BA          6/20/13                 Individual

ONE Riverfront #108   $435,000                  1,153            1 BD / 2 BA         6/26/13                 Individual

ONE Riverfront #602   $665,000                  1,470           2 BD / 2 BA        6/26/13                 Individual

Just Sold: ONE Riverfront #108

ONE Riverfront #108 just sold for $435,000.

Unique one-bedroom townhome in Riverfront Park. With two stories, the kitchen and living area occupy the first level and a full master suite encompasses the second. Quality craftsmanship and attention to detail make ONE Riverfront a distinctive downtown residence. Brazilian cherry hardwood floors throughout, Caesar stone counter, custom European style cabinetry, Jenn-Air appliances, Hans Grohe fixtures and a deep soaking tub are some of the sophisticated finishes in this home. Efficient and comfortable, this home’s is best described by one word, livable!

Denver has the hottest market in nation

According to a Denver Post article yesterday, Denver had the highest share of homes selling in less than 7 days in April than any other major US city.  A quarter of homes sold with in 7 days and the average was 32 days.  The market is hot and it’s time to make a move.  To read the whole article, click here.

Commuter Rail Canopy

The canopy for the heavy rail trains is coming along quickly.  This week the final pieces of the arches for the canopy structure was installed.  The commuter rail canopy is a focal point for the project.  Additionally, the square piece of land in the bottom left is about to break ground.  1650 Wewatta is going to be a 21 story apartment building developed by Holland.  It’s exciting to watch things change daily over there.

 

Union Station Update

The Union Station development is moving along quickly.  It’s amazing to watch it change daily. The most noticeable change right now is the commuter train hall canopy that is being constructed.  The large white canopy will house the Amtrak trains, trains to DIA and trains to Broomfield.  On the Wynkoop side of Union Staion, work is being done on the two pedestrian plazas.  Crews are constructing the water feature, granite wall seat, tree trenches and light fixtures.  In the underground bus station the escalators and elevators are going in along with the glass storefront that separates the pedestrian concourse and the bus loading area.  To read a more in depth article about the updates, click here.

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