DIA is Growing
We like to keep our eye on growth in Denver. Whether it’s the influx of New Restaurants in a certain neighborhood (LOHI) or a brand new riverfront redevelopment plan (Sun Valley). But here is something to think about when you talk about Denver’s growth... the airport.
The Denver Post reported “Denver International Airport begins construction on five new gates”. The expansion is a result of the increased presence of Southwest Airlines with a “$46 million, 39,000-square-foot extension is finished by November 2014”. That could mean some more affordable flights to the many destinations Southwest serves.
Bringing in the Business
What many don’t realize is that DIA is a huge contributor to our states employment and jobs. GlobalAirportCities.com reported October 11th “DIA worth $26.3 billion to Colorado’s economy”. The airport brings folks in to support our cities restaurants, hotels, festivals, and of course our tourism.
The Far-Reaching Effects for Denver
This in turn helps to fund the growth of our great city to help continue the improvements that make it a great place to live. It is part of the funding that supports projects like the 14th Ambassador Street improvements in the Downtown Theater District. Real estate developments such as SPIRE and the Four Seasons are residents of the new Ambassador Street and enjoy the pedestrian friendly improvements to support restaurants and shopping.
When looking at it from a Real Estate perspective, owning a condo or loft in a thriving downtown like Denver is similar to having a ski in ski out condo in the mountains. You have one heck of a great location and that contributes to your value.
Light Rail Around the Corner
But what may bring the biggest benefit to Downtown Denver condo and loft residents is the new light rail to DIA. In terms of pure enjoyment downtown residents or those located at transit oriented locations will be able to take that next business trip, family getaway, or tropical vacation without the headache of driving and parking.
We have had clients who selected their homes on light rail stops (or near Union Station) in plans of a light rail commute for work and play. Those who travel by plane regularly for work know how convenient it can be to free themselves from the current drive / park airline experience. And when it comes to real estate those light rail station locations can mean a lot of value to home seekers. Proximity to light rail in other cities has been very popular.
It doesn’t hurt that our new light rail hub, Union Station, is in heart of our city and close to already highly desirable neighborhoods of LoHi, Riverfront Park, LoDo and the new Union Station Neighborhood. To learn more about these exciting neighborhoods for your self or on an investment just contact anyone on the New Era Realty team today.