Wednesday, November 30, 2011

St. Luke's Row is near completion



This property is ready to show arrange for your showing now. The project consists of the following: 10 modern townhome ranging in price from $299k-$379k, 2-3 beds/2-3 baths, all have attached 2 car garages, and no HOA fees! These Sprocket DESIGN/BUILD modern townhomes marry form and function in seamless contemporary architecture. Modern elegance exists throughout with slick Euro finishes, slab Chroma stone counters, Bosch stainless steel appliances, private balconies, great room, 2 car garage, and two spacious master suites! To download floorplans and site plan go to www.StLukesRow.com.

Monday, November 21, 2011

Young Adults Choose “Cool Cities” During Recession




In an article written by William Frye, Senior Fellow, Metropolitan Policy Program, The Brookings Institution, the Average Annual Net Domestic Migration by Metropolitan Area Among Persons Aged 25-34 according to the U.S. Census Bureau American Community Survey data mid decade is compared to the results at the end of the decade.

It turns out that the top gainers in 2005-2007 Riverside Metro Area, Phoenix Metro Area, and Atlanta Metro Area have changed as the destination hot spot for young adults by the end of the decade. Riverside moved from first to eighth in the nation gaining less than one quarter of the young adults it drew from the mid decade numbers. Phoenix went from second to seventeenth and Atlanta fell from third to twenty third.

It seems young people are moving less than before, it is interesting to see where those who did move chose to move. Heading the list are Denver with 10,429 new young residents, Houston with 9,366 new young adults, Dallas with 8,731, Seattle with 7,451, Austin with 7,099 new young residents, Washington D.C. with 7,044 and Portland with 6,656 new young adult residents. It can be said that the top three areas and our nation’s capital fared relatively well economically during the recession. All seven of the top gainers are places where young people can feel connected and have attachments to colleges or universities among highly educated residents.

Young people’s destinations differ sharply form the top migrant draws for all ages combined-where Phoenix, and Riverside still rank in the top three. Two on the 2008-2010 U.S. Census generated list gained tremendously in rank among young movers. Denver which moved from twelfth in 2005-2007 to first in 2008-2010 and Washington D.C. which improved from forty fourth to sixth in the same years time. There is no doubt that the current economic doldrums are leaving many young people in limbo, waiting for employment and housing opportunities to emerge. When the economy does eventually pick up, they follow the jobs, no doubt, wherever they become available. In the meantime, a select group of metro areas with modestly growing economies, and strong youth cachet, seem to be the places where they are riding out the downturn. Which makes Denver the number one destination for ages 25-34 among any where else in the nation as this decade turns.

Thursday, November 17, 2011

Competing Union Station Plans Bring Different Benefits to Denver




According to an article by Margaret Jackson in the Denver Post, dated 11/13/2011 the benefits are looked at over a 60 year lease term for both proposals for Union Station.

One proposal by the Union Station Alliance is for a boutique hotel to be built. They would like to transform the station into a 130 room boutique hotel, transforming the historic building into a hotel with the train room serving as the lobby, have local and national tenants, everything from quick serve to gourmet grab and go and a 24 hour diner. They are saying it would be “Denver’s living room”. This team estimates it will pay RTD $65 million over the term, generate $130 million in taxes, and create hundreds of jobs. This project would be financed with 11.5 million in equity, 7.5 million from the sale of tax credits, 50 percent debt, and 17 million from RTD. In the article Mark Falcone, whose company Continuum Partners makes up half the Union Station Neighborhood Team, says “ To risk that community asset by putting debt on it doesn’t make sense.” Falcone, goes on to say, “that a hotel lobby would not be able to handle the volume of expected passengers to move through the station which will serve as the model transit hub.” RTD anticipates 100,000 passengers a day which is only 40,000 less than what DIA handles a day on average.

Union Station Neighborhood Co. estimates its plan to generate $42.5 million over the same 60 year term. Their proposal features a Terminal Bar at the current Amtrak ticket window, and caf├ęs, and office space on the second and third floors. This team has identified 22 million in available sourcing including 17 million from RTD, 2 million equity investment from the developer, and 3 million in tax credits that would enable the work on the project to start immediately. One of the benefits of this plan is it does not use debt to leverage the project so there is no risk of losing this public asset to any lenders. This proposal generates enough revenue to RTD to cover operating costs to the building and gives them a long term capital repair and maintenance fund,” says Frank Cannon, development director for the project.

This Denver Post article ends mentioning a quote from Bill Mosher, senior managing director and principal of Trammell Crow who is representing the Denver Union Station Project Authority. “This building is the gateway and iconic representation of the (Fas Tracks) project and it needs to be active and it needs to be fun. Having the public place being primarily the train hall and having active uses in the wing buildings on the main floor is critical. I think both proposals do that in different ways.”

Thursday, November 10, 2011

Denver Ranked as one of the nation's Healthiest Housing Markets






According to an article released from Builder Magazine, Friday November 4, 2011

Denver ranked 10 out of the 20 healthiest housing markets. Twice a year Builder magazine works with Hanley Wood Market Intelligence to put together a list based on forward projections for each areas jobs, price appreciation, population growth, and income growth. The projections come from Moody’s Economy.com.



Weakness in the oil and gas sector of the economy have caused markets that topped the list before to slip down or off the list and to be replaced by unexpected markets that have overcome job losses and foreclosures. Moody’s projects that permit activity in some of these hottest markets may double as the housing recovery sets in. Markets with military spending, major universities, and strong private sector employment are at the top of the list.



Denver comes in at a strong 10 out of all the cities in the nation. The article goes on to explain how housing recovery is booming in Denver and our permit activity is expected to almost double in 2012 and multifamily construction is on the rise in Denver as well as vacancy rates in downtown apartments have reached below 3 percent. It is also mentioned that Chase Bank, PricewaterhouseCoopers, and New York Life all recently announced new hiring plans here.



It is great to live in Denver now but it seems the future is only brighter for Denver residents. 2011 Total building permit forecast is 3,801 to be topped by 2012 total building permit forecast of 7,548!



Check out the Builders Magazine Article: http://www.builderonline.com/local-markets/heathiest-housing-markets-mid-2011-update.aspx

Tuesday, November 1, 2011

726-730 South Ogden Street


This Charming duplex is the heart of Wash Park. Each side of the duplex contains 3 bedrooms, 2 baths, 1 car garage space, finished basement, exposed brick, stainless steel appliances, new paint, loads of original woodwork and architectural details along with numerous updates. A charming sitting room is attached to both master bedrooms completed by built in bookshelves. Sitting on one of the best blocks in Wash Park, with tons of mature trees, one can enjoy numerous nearby amenities on foot. Walk to Whole Foods, Wash Park, Cafe Europa, Sushi Den and much more. The roof has a 7 year certification and the furnace has been cleaned and certified. The seller has performed a pre-inspection which is available upon request.

Open House & Art Show November 4th 4:30-7pm


Come check out one of the coolest historic spaces in Lohi! 3617 Osage Street (formerly Cerrone's market and Italian Sausage) Stop by for a glass of wine, appetizers, fabulous art, and to check out a piece of LoHi History. 3965 square feet large open market area currently leased to a dance studio with attached residential for extra income listed at $599,000.

Featured artists will be:
Katrin Davis
Thomas Scharfenberg
Elena Stonaker
Ryan Pattie
Katie Wilson

St. Luke's Row is near Completion!


St. Luke's Row is near completion! Arrange for your showing now. The project consists of the following: 10 modern townhomes ranging in price from $299k-$379k, 2-3 beds/2-3 baths, all have attached 2 car garages, and no HOA fees! These Sprocket DESIGN/BUILD modern townhomes marry form and function in seamless contemporary architecture. Modern elegance exists throughout with slick Euro finishes, slab Chroma stone counters, Bosch stainless steel appliances, private balconies, great room, 2 car garage, and two spacious master suites! To download floorplans and site plan go to www.StLukesRow.com.