Sometimes those of us in real estate, development, and urban planning tend to see city changes with an eye on the future.  It is for this reason that we had to laugh at the CBS headline for their recent video story “DIA Construction Will Cause Parking Problems For Years”.

There is nothing wrong with the facts of the story.  Yes, construction is beginning at DIA.  Yes, parking will be more of a headache for years (and that is a really long time) until completion scheduled for 2016.

But what we took away from the story is that our city is getting a new dedicated line from Union Station to Denver International Airport.

For our clients and friends in the Downtown neighborhood or any of the areas throughout Denver connected by light rail this is GREAT news.

The new Union Station terminal will be a huge asset for those who live, work and enjoy their life in Downtown Denver.  For those Downtown Denver condo and loft residents fortunate enough live in such neighborhoods as LoDo, Riverfront Park, the new Union Station Neighborhood, or any of the great location connected by light rail this gets even better.

For those residents their downtown Denver lifestyle will change for both work and play.  Those business trips via plane or beach vacations need not begin with planning for whether or not traffic will grind to a halt on I-70.

No more will there be the scavenger hunt for parking spaces.  No more choices between roughly $20 dollar a day parking lots and dragging luggage across the vast concrete parking walkways.

Instead, based upon a set schedule, Denver loft and condo (and those connected by light rail) will enjoy picking a train and knowing when it will arrive at DIA.  They can spend the trip there reading the newspaper, preparing for the presentation later that day, or (more enjoyably) reading the menu at the restaurant at their beachside hotel.

With gasoline prices on the rise and no predictions that it will stop rising every advantage that Denver invests in for public transportation is just one more great reason living the Downtown Denver lifestyle has been attracting so many.    The new transit development is also just one more investment in real estate values for the area.

To learn more about owning or investing in Downtown Denver real estate, contact anyone on the New Era team.  In the meantime, cheers to the construction at DIA.  It’s well worth it.

When most people in Colorado think of a second home their mind captures the image of ski in / ski out mountain retreats.  The second home market offers a great way to invest and enjoy a destination.

While mountain retreats certainly have their appeal, the rental periods ebb and flow in regard to tourist seasons and, as we have witnessed this year, snowfall.  For many the best second home market is the one in the heart of Downtown Denver.

The Downtown Denver loft and condo market offers both a great corporate and rental opportunity and a way to experience the downtown lifestyle.

When the Glass House was launched many units were purchased by investors and second home buyers seeking a walkable location steps from Denver’s great many sporting events, restaurants, and activities.

The mountains have their ski in / ski out.  The Downtown Denver location is a walk in / walk out version of this great feature.  So much so that while Denver Urbanites were buying their ski condos mountain residents were buying their city condos.

Of course Denver does have a few great advantages.  Downtown Denver lofts and condos allow for year round demand of both local residents and corporate rentals.  Some highly sought after locations like One Riverfront Park and SPIRE are a favorite for short term rentals because of their great amenities and features including pools, spas, fitness centers, and more.

Of course the best amenity is the location.  With a population that continues to grow many of these prime spots continue to see increases in their rental rates.

Combine this with low interest rates and there is a perfect opportunity for the Downtown Denver real estate market to generate future returns.

Often second home buyers look at their city purchase with both a short and long term goals.  Many use it themselves to visit the city when the see a great game at Coor’s Field or take in a theater event.  Others have plans to have a city retreat later in life when a night on the town can include a great dinner but not a multi hundred dollar hotel bill.

With a wise balance of planning ahead and enjoying today, the Downtown Denver condo and Downtown Denver second home is an excellent choice.  Learn more about current opportunities today by contacting New Era Realty.

You have often heard real estate professionals speak of location, location and location in regards to qualities to consider in a Denver real estate purchase.  We often speak of walkability, local restaurants, green space, and all the other elements of the Downtown Denver lifestyle.

One other component that we consider critical is the zoning of that dream home, condo or Denver loft.  Zoning is the city map for how a neighborhood can be developed.  This includes how your own home can be changed or modified down the road.  Many homeowners are planning for today but it is also important to think about future goals.

It may be wonderful to imagine adding that studio addition for writing the next great American novel or a nursery for plans down the road…. But is the home or parcel you are looking at permitted to do so?

For investment clients zoning can also answer questions about whether that huge lot you are on could be subdivided, or allow for a possible duplex down the road.  Zoning determines not only what size and height property can be built but also what type.  Is the lot you own single family, duplex, or multi use.   The Downtown Denver neighborhoods allow for a variety of uses and the zoning can change just by walking across the street.

The investigation we go through doesn’t just involve our homeowner clients.  It is equally important to evaluate what the zoning is surrounding you.  Those incredible views you enjoy may change if the zoning in the path allows for a multi dwelling unit or other project.  Of course it could also mean that you could be in the heart of a bustling center of great restaurants, shops and amenities.

The Denver LoHi neighborhood is an example of just such growth.  The zoning of many parcels allows for projects that gave us the great additions of Linger, LoHi Steak Bar, Ale House at Amatos and more.  A strictly single family home zoned neighborhood would have prevented the creation of these neighborhood gems.

But with growth comes controversy as one can see by watching the growing debate (and as described in this article the shouting match) about the Red Peaks project in the Highlands.

For those who are not familiar with the Denver Zoning codes (taken from Denver’s own website) here is a quick overview.   To learn more about zoning in your area or for your own home please contact any of us at New Era Realty.

There are a number of ways developers can make their real estate projects more attractive to buyers.

One of the first considerations is location.  Glass House was and continues to be a hot seller because of it’s amazing Riverfront Park location.  SPIRE decided the heart of Downtown and steps from the light rail station was a winner.  Many smaller developers are fighting to find well priced LoHi lots suited for development to take advantage of the growing restaurant scene here.

Living in Downtown Denver offers an incredible lifestyle and what is within a one mile radius is a major consideration for buyers.

Amenities are next on the list.  Downtown Denver high rise buildings are designed with swimming pools, fitness centers, movie theaters, lounge areas, spas and sporting rooms.  Again we can point to the Glass House, SPIRE, The Four Seasons, and ONE Lincoln Park as great examples of how developers appeal to buyers by creating these great amenity rich buildings.

Finishes are another way to set a building apart.  ONE Riverfront may not have a pool but it does have some of the best finishes of any building.  The Four Seasons brand is built on excellence in every detail.  For many buyers, these interior selections are high on the appeal in selecting a new Denver condo or Denver loft.

But after all these factors are designed and value engineered by a development team on a building there is one major consideration left to be made.

Developers focus on how to make it EASY for their residences to be purchased.   One way developers accomplish this is to create preferred lender relationships with financing institutions.  These preferred lenders do advanced appraisals on the entire building so they can qualify buyers quickly.

One way to open up the residences to an even broader audience of buyers is to have the building qualified for Federal Housing Administration (FHA) financing.  FHA financing can be a great way for the developer to sell to more buyers.  Otherwise only those who can pay cash or qualify for a conventional loan are prospective homeowners.  So Developers want more buyers.

But the Denver Post recently reported that several developers, including SPIRE and One Lincoln Park, had allowed their approval to lapse.   This can make it harder to sell units not just for the developer, but for existing homeowners as well.

Fortunately the article sparked Denver Developers to quickly move to remedy the situation.  To learn more about Downtown Denver real estate or approved FHA building opportunities please contact anyone on the New Era Team.

What is FHA… visit the HUD website here.

All of us at New Era Realty work with our clients to find the absolute best value in Downtown Denver loft and condo properties

In the world of high rise downtown Denver condo living, a few buildings have been incredibly popular with clients for the amazing amenity offerings.  Swimming pools, fitness centers, and more are features that SPIRE Denver, the Glass House, ONE Lincoln Park, and the Four Seasons can all boast of in their offerings.

Of all these, perhaps SPIRE got the most press.

In 2011, SPIRE, a project all of us at New Era Realty monitored and studied from inception drawings through completion, set itself apart as not only a record selling high rise development project here in Denver but among projects nationwide.  As a new project SPIRE offered a variety of price points starting as low as $100’s.

While most of SPIRE’s initial low priced inventory has already been sold, a number of re-sales are beginning to appear on the market.  One such listing of ours had immediate demand.

The Private Residences at the Four Seasons is often a building compared to SPIRE, The Glass House, and ONE Lincoln Park for downtown Denver loft and condo shoppers.   The Four Seasons project stands out among all these projects with it’s incredible finish level, appliances, countertops, and of course luxury Four Seasons Amenities (room service or a spa anyone?).  But the investment in construction and design also contributed to a higher price point.

Well for the next 30 Four Seasons sales, that is all going to change.  Prices at the Private Residences at the Four Seasons Denver have been drastically reduced by even as much as 60%.

This months Denver Post Article “Seasons gives reason for lowered condo prices” gives an example of a one bedroom “originally priced between $789,000 and $895,000 is now selling for $364,900 to $411,900”.

The folks at the Four Seasons mean business.  This pricing puts their luxury downtown Denver Real estate offering more in line to compete with the other high rise towers in town.  It looks like the developer doesn’t plan to keep prices low for long.

Today is a great day to learn more about this project.  Contact anyone on the New Era Realty team to schedule a tour of the Four Seasons Denver or any of the great downtown Denver real estate opportunities.

The New Year is off to a fast start! One of the great things about owning a Denver loft or condo is that you don’t get bogged down shoveling snow or doing home maintenance.  With all the extra time, take advantage of all the events Denver has coming up!  Start by enjoying The Mile High SnowFest Jan 25-28 where Denver celebrates winter sports and art. On February 4th Echo Mountain will host the SnowDash Extreme 5k . And don't forget that all the local ski resorts are now open and expecting more snow! The 11th Annual Chocolate Affair in Olde Town Arvada is February 4th. For beer fanatics, Winter Brew Fest is Jan 27th at Mile High Station. The Pepsi Center is packed with events from Nuggets, Avalanche, and Mammoth games, Monster Jam and concerts that include Brad Paisley and Lady Antebellum. Red Rocks will host it's first ever winter concert on the 27th of January with Icelantic's Winter in the Rocks. Other concerts include Ryan Adams on the 3rd of February and Lenny Kravitz on the 10th at the Buell Theatre. The Ogden Theatre will host Mat Kearney on the 10th of February and T-Pain on the 24th. Widespread Panic and Korn will both perform at The Fillmore Auditorium in February. And in Boulder, The Boulder International Film Festival is Feb 16th - 19th at the Boulder Theater. Take advantage of the turnkey nature of your property and get out there to enjoy all that the Denver region has to offer!

We all know that we love our city.  Now it appears the rest of the nation is in on the secret of just how great Denver is.

The Fox Business Network is running a new segment called "Where to Invest Now" featuring Greg Rand, CEO of OwnAmerica, as housing market analyst making his picks of the best real estate markets in America for investors. In this episode Greg picked Denver, Colorado for more than one reason.

From an analytical standpoint it comes down to the fundamentals that make real estate developers and analysts incredibly happy.  People are moving to Denver.  Simply put, our city is an attractive place to live.  Not only do our residents like our city, they love it.   Transplants from New York to LA are choosing Denver as their home.

The median age in Denver is just 31, a fairly young age and an indication of the growth potential for the Denver real estate market as this base moves forward in life and in their home ownership goals.  Denver lofts and condos are one investment opportunity that fits in perfectly with this audience.  The video mentions the single family home as well and it’s hard not to imagine what Denver’s ongoing growth will mean for Downtown Denver neighborhoods such as LoHi (Lower Highlands), Washington Park, Ball Park and more.

While investors across the United States may think our real estate market is attractive the true winners would be those living right here in Denver.  For those who switch from renting to purchase it’s not just an investment opportunity, it’s an opportunity to find a dream home.

You know we love the downtown Denver loft and Denver condo lifestyle.   The same fundamentals that make owning a Denver condo or loft an attractive investment are the reasons it is also a wonderful way to live.  Walkable restaurants and bistros, sporting events, theater and the arts fill our downtown streets and neighborhoods.

Sure, we love the fact that Fox Business News is calling us a great place to invest.  What the story should focus on is the fact that Downtown Denver Real Estate offers an incredible place to live.  But maybe they do… when their research team asked folks if they like living in Denver, they said “No…I love it”.

The Downtown Denver condoand loft market saw a boom of new restaurants to meet our growing market.  In 2011 it would be hard to say any neighborhood saw a greater boom than LoHi where we reported on such great spots as Linger, Ale House at Amatos, Williams and Graham and more.

For many, the LoHi neighborhood is the new favorite for new home shoppers as its mix of affordable modern mid rise condos and townhomes or historic Denver lofts are within blocks of many of Denver’s new favorite dining and entertainment spots.

It looks like 2012 is when LoDo starts to fight back to become Denver’s favorite Downtown Condo and Home destination.

On the dining front LoDo is going through a growth spurt.  Recent rumors are that the favorite Squeaky Bean of LoHi will be opening across the street from Fogo de Chao in the historic Saddlery Building.  We reported earlier in 2011 that the Bean was seeking a new spot… it looks like they found it.

Recently Couhills created a new dining spot in LoDo’s southwest corner and not far away on Wazee Charlie Palmer of New York opened District Meats and began serving up fare.  Right next door in December we saw the opening of Palmer’s Wazee Wood Fired Pizza and The Kitchen Plans to open in the spring of this year.

Next we hope to see some revival of the previously vacated locations in Lodo.  Half of the old Dixon’s space is slated for the Lucky Pie Pizza & Tap House and that just leaves the old Organixx and 8 Rivers spots to claim.

The Downtown Denver lifestyle is about many things.  There is the great walkability to amenities.  There is the wonderful series of activities, sporting events, festivals and entertainment.

But perhaps one of the most talked about Denver loft and condo features is our cities great cuisine.  In that regard each neighborhood offers its own favorites.  What we are seeing in Lodo could be the next era of growth for this Downtown gem.

Let’s not forget that Lodo is adjacent to the new Union Station redevelopment with recent announcements of the new hotel project in the historic station.

What a great way to kick of the new year with great prospects for Lodo.  Congrats Denver, life here just keeps getting better.

To learn more about LoDo loftsand condos for sale or other Downtown Denver real estate development please contact any of us at New Era Realty today.

The Buzz in Real Estate to close out 2011 is all about Union Station.

First, the Union Station Alliance team won the chance to develop the historic Union Station as a hotel.

Now the buzz is about something many in LoDo and Riverfront Park have been begging for… a full scale grocery store.

This March groundbreaking  is planned for a new grocery store mixed use development project.  Design renderings for this new building have been posted at the website of The Mulhern Group show what the vision for this new project to be.

Project details include 55,000 square feet of retail planned for the new national chain grocery store.  The chain name isn’t posted on the site but the renderings clearly show King Sooper signage.  In addition to the retail space over 300 apartment residences are planned.

This is big news.

The open parcels of land that connect Riverfront Park and LoDo provide key resources for Denver condo and loft residents.  Many of these residents are our clients and one common wish list item has been a greater selection of grocery options.

A full product grocery store activates a key walkability resource for downtown Denver residents.  Denver is truly becoming a car optional city.  The Union Station, Riverfront Park, and LoDo neighborhoods may be the most walkable with their convenient location surrounding the new light rail station and shuttle buses.

In a few years these residents will be able to take the light rail to Denver International Airport to catch a plane.  It only makes sense that they should be able to buy their groceries without a car as well.

Fresh meats, seafood, vegetables and more within footsteps of your front door make downtown Denver living even more attractive.  Contact any of us at New Era Realty today to learn more about these great neighborhoods or other downtown Denver real estate opportunities.

A hotel, a market, office space… the options for the future of the Historic Union Station Alliance building in Downtown Denver are limitless.  For this reason RTD’s board wrestled to decide which development team to give the thumbs up to in this huge Downtown Denver Development Project.

By a vote of 9 to 5 last week RTD gave the Union Station Alliance team the winning nod to redevelop the Historic Denver Union Station into a Hotel.  All 14 members voted at that committee decision and today the board formal ratifies this decision.

You can read more about the RTD Decision in the Denver Business Journal Article “RTD Prefers Denver Union Station Hotel Proposal” or visit the Union Station Alliance Website for specifics.

For Real Estate Residential owners in the Downtown Denver Lodo and Downtown Denver Riverfront Park condo neighborhoods the hotel offers a potential influx of amenities that commonly surround a restaurant location.

The new Four Seasons downtown, as one example, gave local Denver high rise residents access to the Four Seasons amazing restaurants, bar, and spa.  Nearby neighbor SPIRE, with it’s own high rise amenities and ground floor restaurants and retail added to the Downtown Denver Theater District appeal.

The new historic Union Station Hotel brand is only one component of the total Union Station Neighborhood mix that plans to include its own mix of new restaurants, shops and office space.

The new construction in the Union Station Neighborhood will offer new opportunities in Real Estate as well.  New construction is often a favorite for clients looking to relocate to the Downtown Denver area.  Existing residential projects such as SPIRE, ONE Lincoln, and the Glass House have shown how high rise downtown living is in high demand.

What remains to be seen is how quickly developers choose to pursue new residential towers.  Our investment property clients are enjoying a strong rental market that may well discourage the start of any new residential tower projects and the strong appeal and pricing of SPIRE adds to the competitive landscape.

For our clients looking to acquire a new downtown Denver loft or condo the timing couldn’t be better.  Call any of us at New Era Realty to learn why.