It is certainly the most talked about building in Downtown Denver condos and lofts right now, and with good reason.  That's right, we are speaking of SPIRE (or I guess writing about it would be more accurate).  One of the most frequent questions we have been getting about SPIRE is the one we get about most any Downtown Denver condominium building... what are the amenities.  This question is also the basis for the first part of our SPIRE tours where we take our clients throughout the 42 story glass wall SPIRE building and it's many floor plans.

The reason is simple.  It seems that folks narrow down their new home goals in this order...

1:  Where do I want to live (Downtown Denver seems to lead the pack)

2:  What building in that area is the most attractive to me (amenities, services, pool, fitness center, etc.)

3:  Which floor plan on which floor is the favorite residence

All of us at New Era work with our clients to find a match for each one of these questions that they fall in love with.. because we think all three are very important.

Back to SPIRE, because one of the reasons we and our clients are impressed with this building is because it has all three.  Today we talk about number two in more detail to answer the questions we have gotten from all of you.

SPIRE has one of the best amenity offerings of any building in Downtown Denver.  Here's the rundown from the bottom to the top...

1st Floor Retail:  SPIRE's first floor will offer a number of retail space which so far includes a coffee shop, a sandwich shop, a green dry cleaner, and a connect by Hertz rental location.  The other spaces are yet to be announced but the team there has hinted at a high end restaurant and bar as a likely possibility.  Those familiar with city living know that there are already some incredible restaurants in and around SPIRE but the appeal of ground floor proximity is a wonderful convenience.

3rd Floor Dog Park:  Yes that's right, an outdoor dog park on the 3rd floor.  It is by no means a huge throw the ball sort of dog park but it is another thoughtful convenience to allow dog owners a place to go for those middle of the night or middle of a blizzard moments when Fido really needs to go and you aren't inclined to bundle up and go outside.  With a built in drainage system it's just a short elevator ride away.

9th Floor Amenity Level:  Wow, we might just need to do a rambling list for this level.  First there is a large fitness center with weights, machines, and a yoga floor.  Better start thinking of new excuses for not working out when the gym is in your own building and all the equipment is shiny and new for your to use.  There are two spa hot tubs (yes two) to relax in after your workout or on a starry night, two pools (one is a reflective pool however... no swimming but certainly some lounging), outdoor fire pit, sports center (huge screens for hosting a game party), 24 hour front desk, and ample lounge space for meeting with friends or just a good book.

10th Floor Amenity Level:  This level offers a movie theater room for holding your own private film screenings or perhaps a premier party to watch the first episode of Entourage, a business center style computer area, and a full lounge with outdoor terraces.  This level has the option of being reserved for your own functions so you can host your own event or pre-event before taking in a show in the surrounding Theater district.

42nd Floor Sky Club:  When we talk about views we begin on the 9th floor which is already impressive.  We finish on the 42nd floor where the Sky Club offers what may be one of the best city views of Denver, private wine lockers, and a lounge for entertaining.  This Sky Club is available for the top ten Sky Club residence floors to enjoy on a daily basis or for reserved events.

Between the indoor and outdoor spaces SPIRE offers a huge amount of amenity square footage and features.  The best way to fully understand what SPIRE offers is to schedule a private tour and see it for yourself.  Please feel free to contact New Era Realty and we will be happy to schedule your private tour and also point out our favorite floor plans.  SPIRE closings are currently on the schedule and with the home buyer tax credit expiring soon now is an incredible opportunity to own a residence in this incredible addition to Denver's skyline.

Loft and condo living in Denver has come a long ways in the past decade. There was a time of very limited choices, with 60’s style low-rises and high-rises being the majority of the inventory. These were less than inspiring options that in many cases that required major remodels of the units before there could be anything hip about them. This was followed by a wave of conversion projects in Denver which carved large warehouse buildings, historic mansions and apartment buildings into lofts and condos with mixed success. Living in some of these may bring to mind the artist loft in a dusty old warehouse in the industrial section of the city. Since the buildings that housed these lofts and condos were not “purpose built” there were often problems with temperature control, sound transference and unpredictable HOA costs to maintain the buildings. Although some of the spaces were very unique and inspiring, many others just ended up lacking light or having very strange floor plans. By comparison, you’ll be amazed at what you’ll actually see in today’s version. These high-end lofts are state of the art when it comes to amenities. Today’s version of Denver loft and condo living often include balconies, washer & dryers in the units, the best floor and wall coverings, secure garages, workout facilities and lobbies that are a pleasure to step into.

With the changes in these structures, the demographics of the owners have shifted as well. Although the converters of old may have been designing their lofts to appeal to actors and artists, today’s developers are building to house people from all walks of life. Yes, the penthouse units may be a fit for prosperous doctors, lawyers, corporate executives and sports figures. But, many of the buildings offer so many different floor plans and price points that they are being bought by people ranging from first time home owners to retirees who want a second home in the city. We can honestly say that we can develop a “profile” anymore for a loft or condo dweller. We are working with so many different people with different motivations for buying their loft or condo that the only “profile” is one of diversity.

So why are we seeing the growing popularity of the modern loft in Denver? One of the obvious reasons is that “burb” living has lost the appeal to many. We hear this from our clients as they point out the increased traffic on commutes, the cost of upkeep of large homes, the proximity of unique shops and restaurants as well as other amenities that are part of city life. Many of our clients simply want to live where they work so that they can have more time for themselves and spend less time in the car and cutting grass they only see on weekends.

Other trends we are seeing is that the interior of the lofts are changing. Although many buyers still like the rough lumber look on the ceilings and exposed red brick walls, more recent interpretations of the “loft” are softening. Rather than exposed mechanical, buyers are looking for clean lines like you see at the SPIRE building or even luxury fine finishes such as the Four Seasons Denver. The more sophisticated and modern look is on the rise. Further, the floor plans are moving towards bedrooms being separated from the living area and an emphasis on walls of glass to let light into every area of the unit. It seems that Denver loft and condo developers are no longer going with “fads”, but rather using fundamentally sound architectural design that is human friendly.

Furnishings are making a change as well. Loft dwellers of old used to collect anything and everything to furnish their space (we have seen literally everything)- sometimes, the more garish, the better - with no rhyme or reason to the décor. Today we are seeing furnishings and décor that are designed for the space. Often owners do choose very modern styles, with smaller pieces to create a sense of space in the condos. Certainly we see influence from the east where smaller city living spaces have been perfected. The sleek look of open space with the use of Murphy-Beds or wall beds for the flexible use of space is more and more common. Sliding doors are also being utilized to offer a sense of openness. Lofts are being designed and decorated to off a feeling of abundant space, natural light and a sense of simplicity. There are those exceptions that still work very well and we have seen owners who have furnished their space with Old World antiques with stunning results. One of the most entertaining parts of our jobs is being able to see how different each loft or condo is from the next. Two units may start with the exact same floor plan and finishes, yet the owners influences on the spaces often create dramatic differences in a short period of time.

The good news for Denver loft and condo buyers is that as time progresses, the many styles of lofts and condos the Denver market has to offer are increasing dramatically. The variety of these homes in the sky is apparent, but many offer the unique dramatic views only Denver can provide. No matter how many lofts and condos we show, we always take a moment to enjoy the spectacular views offered of the Downtown Denver Skyline and the Rocky Mountains.

If you would like to see what Denver’s loft and condo market has to offer in 2010, we would be happy to introduce you to the rich variety available. Just shoot us a note at agents@mynewera.com or ring us directly on our cells (303.521.6262 or 303.522.7746) and we will get hard to work putting our experience to use for you!

Downtown Denver Condo and Loft residents have a very familiar pairing... the arts and a nice glass of wine. It could be a night at the theater, the cinema, a gallery hop or perhaps a exhibition.

One such pairing is taking place this coming April 16th at the Denver Art Museum Uncorked Wine Tasting.  It's time to take a stroll through the museum and enjoy both the sights and the tastes of fine creativity.  See you there and here are the details from their website.

Friday, April 16, 6:00 pm

North Building

Don't miss Denver's premier events for wine lovers—the tenth annual DAM Uncorked Wine Tasting on April 16, 2010, and the DAM Uncorked Dinner and Auction on April 17, 2010.

The DAM Uncorked Wine Tasting is a festive evening for anyone who appreciates wine. Enjoy more than 350 wines from vintners around the world, helpful tasting guides, and delicious hors d’oeuvres at this annual fundraising event. New this year: tasting areas for some of Colorado’s finest craft beers and a silent auction of fantastic packages and items from Denver’s best hotels, spas and retailers.

Business casual attire.

Tickets

Wine Tasting tickets are discounted for DAM members. Not a member? Buy an Individual membership and tickets or get a Dual membership and tickets—all in a single transaction.

$70 DAM members
$90 nonmembers
$35 for designated drivers

SPIRE loft and condo buyers have something to be excited about!  As the saying goes in real estate, it’s all about location, location, location!  Denver’s loft and condo experts all agree that SPIRE already has one of the best locations in Downtown Denver.  And it’s about to get BETTER!

As reported in the Denver Post and Denver Business Journal, the $14 million 14^th Street improvement project is now underway and scheduled to be completed in the Fall of 2011!  But what does this really mean to SPIRE’s loft and condo residents?  At first glance, this new “pedestrian-friendly” zone will be similar to the 16^th Street mall in Downtown Denver.  The difference being that 14^th Street contains some of Denver’s biggest attractions including:

1)    Well, of course, the SPIRE – we are signing reservations with clients on almost a daily basis right now and prices are going up!  Contact us and we will find you a loft or condo that fits within your budget.

2)    The gateway to trendy Larimer Square – some of the best restaurants and shopping in Downtown Denver for loft and condo owners, only steps from the SPIRE.

3)    Four Seasons Denver – arguably the nicest hotel in Denver and future home for many Downtown loft and condo owners.  Contact us to find out more about this project as well.

4)    Denver Center for Performing Arts – hands-down, the best place for a date night in Denver with all of the major Broadway productions making stops throughout the year!

5)    Denver Convention Center – if it’s big, it’s here!  We’re headed to the Denver Auto Show today to check out the latest and greatest real estate vehicles!

6)    Denver Athletic Club – catch a game of squash in Denver’s premier athletic and social club.  Although you probably won’t need a membership here if you own a loft or condo at SPIRE – their fitness center rivals DAC’s!

7)    Hyatt Regency Denver – as if the views from SPIRE aren’t enough, grab a cocktail with friends at the Altitude bar high above the city with sweeping mountain views!

8)    Denver’s Light Rail – leaving the car behind?  With current and future Light Rail access, Denver loft and condo residents will be able to travel virtually anywhere in the city without their cars.  Light rail stops right in front of SPIRE.

9)    There are also several other new developments underway in the area including the new Embassy Suites Hotel and a Hilton Garden Inn.

Improvements to the street itself include widening sidewalks to accommodate easier flow of foot traffic and space for outdoor restaurant patios including Table Six which will be at street level in SPIRE.  A bike lane will be added so SPIRE Denver residents can hop on their bikes from the front door and safely travel to work or nearby bike trails.  200 trees, flower planters, additional parking capacity and more will make 14^th Street similar to the Miracle Mile in Chicago (well maybe we aren’t quite there yet and we know it isn’t quite a mile, but we are certainly headed in the right direction!).

With so many attractions in the immediate area, SPIRE is now arguably the hottest condo and loft development in Downtown Denver.  We are offering daily tours to prospective buyers and can provide current and ACCURATE pricing based on the requirements for your loft and condo.  Are you an existing or future owner at SPIRE?  We would love to hear if you are as excited about the project as we are, so please share your comments with us!

Lastly, for a view of what the 14^th St. improvements in Downtown Denver will look like check out this great 3D Animation for proposed design from Animation team: Brian Peterson...

It's turning into a buzz around Denver.. the SPIRE. We have clients scheduling their move in dates and starting to make their dream of living at SPIRE a reality. It's funny how the start of closings has sparked such an interest in a building that we have been watching for some time. But it makes sense, the reality of moving in changes everything. So all of us at New Era Realty are holding SPIRE tours over the next couple weeks (or as long as we need to.. it's been busy). Fortunately, after being in the building more times than I can count starting with hard hat tours during construction and continuing up through our client tours of the finished buildings throughout this year. We know the building well. And that is very important when it comes to finding the best value and floor plan.

We like to think we have our favorite floor plans in SPIRE, but the truth is we have a few. It all depends on what you are interested in. We know which floor plans are the best for a first time buyer trying to get the lowest price available and which ones are the best for maximizing square footage. We have been to pretty much every floor on every side of the building so we help our clients to find the ideal view. And of course we have been watching the pricing of units and incentives throughout and pride ourselves on obtaining the best price point.

When it comes to the purchase of downtown Denver condos and lofts experience and knowledge matter. It's part of the reason that New Era Realty concentrates on Downtown Denver loft and condo building and the reason we follow SPIRE and other high rise residential towers so closely.

So with all the excitement buzzing around town about SPIRE we invite you to contact us for your own private tour. If you don't know about SPIRE there is quite a bit to see on the tour. We visit the amenity levels with the splash and reflective pools, two spa hot tubs, outdoor fire pit and yoga floor. We tour the fitness center, sports zone, club lounge, media room and of course front desk and common areas. And we tour whichever one, two or three bedroom condos fit your goals and show you the view from various floors and on different sides of the building. At least that's everything we can show you in SPIRE but that all depends on what you are interested in.

Give us a call to day to schedule your SPIRE tour at 303-922-9222.

Looking for something interesting to do this weekend. Might we suggest a budget minded trip to the other side of the world with a visit through Japan. Downtown Denver Condo and Loft residents should enjoy this visit to a foreign land and might we suggest a pairing of some saki and sushi at any of the wonderful Japanese Restaurants downtown. Here are the details..

Focus on Japanese Cinema, Art & Culture Presented by University of Colorado Denver - College of Arts & Media

Japan
Genre/Subject: Asian

Give your passport a stamp to Japan in this four day celebration of Japanese film, art, and culture at the Starz FilmCenter. Journey through the great moments in Japanese cinema, including twelve films from acclaimed Japanese directors with discussions following screenings.

A special focus on the films of master filmmaker Mikio Naruse (1905-1969, a director whose work has been virtually unscreened in Denver, anchors the event. Four Naruse films will screen alongside a new 35 mm print of Seven Samurai by Akira Kurosawa.

Here at New Era Realty have toured the SPIRE building with clients many, many times.  Thus, at this point we have heard the sales pitch from each of the SPIRE representatives and seen every floor plan in the building.  This experience has allowed us to put together a list of some of the frequently asked questions and in this article we will share those along with the answers and other current information.

Before we go into the FAQ’s, here is the up to the minute status.  Our current clients are closing and moving into their SPIRE lofts as soon as 12^th of this month.  This is long awaited news as many had hoped to be in the building several months ago.  At this point we won’t go into the reasons for the delays as the SPIRE as this is old news and everyone is past the waiting/worrying stage and all we are hearing now is:  “can’t wait to move in!”  As we approach the closings, our clients are locking in historically low interest rates and some are starting to advertise for renters.  Although only a small percentage of SPIRE buyers are investors, those that are look to do very well as the demand is driving up rental rates for these high amenity lofts/condos.  We believe that rental rates for even the one bedroom units will be above $1,600/month which makes buying one of these lofts look like a bargain.  This coming week we will be attending final walkthroughs with our buyers.  During these appointments we will be going over the condos with a fine tooth comb to find any touch ups that the developer need to complete prior to close.  Our clients will also get a building orientation so that they know the processes, procedures and technology at the SPIRE (we all know how to run the theater room at this point and highly recommend seeing Transformers in blue-ray, as the sound system at the SPIRE literally loosens your filings).   Following the walkthroughs, we expect the closings to be a bit of an adventure.  Day one is the 12^th and Land Title in Cherry Creek is going to have 4-5 rooms running, with a closing an hour in each all day.  If all goes well nearly 40 buyers will get their keys that day.  From our experience, not all closing go smoothly and finish in an hour, so it will be a bit of a zoo all day.  We can say that the elevators at the SPIRE are some of the fastest we have ever been in (they make your ears pop as you take the ride up to the penthouse level), but they will be put to the test as the SPIRE will become a bee hive of activity on the 12^th and 13^th.  A strict schedule has been set for the moving elevators, so we are recommending to our clients that they line up their friends to help get the larger items moved quickly during their reserved time.

Alright, on to a quick list of FAQ’s on the SPIRE Denver:

QUESTION: Who is buying these units?  Is there a typical profile?
ANSWER: Currently we are seeing buyers from all age ranges and backgrounds.  The lofts/condos appeal to everyone from young downtown professionals who want a green lifestyle with no commute, to the retired second home owns who love all that Denver has to offer being just steps from their front door.

QUESTION: Being downtown, how is access to the SPIRE building handled and is it safe/secure?
ANSWER:  There are multiple layers of security at the SPIRE, making it a very safe home for our clients.  One example is that if someone walks into the building and wants access, they have to provide the name of the homeowner they are there to see and that homeowner can see them from their TV before instructing security to all them to proceed to the check-in n the 9^th floor.  There are many more examples of the great safety features in the building such as the smart key card system allows each resident access to only the floor they live on and the amenity levels.

QUESTION:  Can you reserve amenity areas and have private parties at the SPIRE?
ANSWER:  Yes, you can have private parties/events and reserve amenities such as the theater.  However, for large events such as the Super Bowl for example, there will be parties held for the community as a whole to enjoy and seating in the theater will be open to all.

QUESTION:  What is the pricing looking like a the SPIRE?
ANSWER: For the 1 bedroom lofts with parking they are up over $250K currently and for the 2 bed lofts they are starting at well over $300K with parking.

QUESTION: What retail is going in on the ground level of the SPIRE?
ANSWER:  At this point we don’t have firm answers to this, but we believe that a car share for residents is one and a Sushi restaurant and drycleaners are safe bets.

QUESTION:  How does the SPIRE compare to the other high amenity loft and condo buildings in Denver?
ANSWER:  It is the newest building and many believe the best!  The finishes are as good as or better than any of the other loft/condo buildings and the amenities are as well.  Location still plays a big role as far a which luxury hi-rise is best for each person, but in each case the SPIRE is a strong contender.

QUESTION:  What is the cost of the HOA at the SPIRE?
ANSWER:  Thirty-One Cents per square foot of the unit.  This is one of the lowest HOA’s in Denver for a building of this nature.  The SPIRE is tied into the steam system for the city which not only gives you hot water at the tap, but also reduces the cost of the HOA due to inexpensive heating and cooling.  Plus, the hot tubs and pool are cheap to operate and keep open year round.  Additionally, a well negotiated deal for phone, TV and internet offers a great package and super high speed internet to owners for a fraction of the typical cost.

QUESTION: How about the quality of the construction at the SPIRE?
ANSWER:  Green and state of the art features are found everywhere within the SPIRE building.  Sound testing came back as excellent, so you won’t be bothered by the noisy neighbor.  You won’t even be able to smell that burnt pop corn as when you close the door to your loft a gasket seal the threshold to prevent sound and odor from the hallway.

This list of Q & A could go on and on, but for additional answers to any questions you might have about the SPIRE Denver, please just drop us a line at agents@mynewera.com or ring us directly at 303.522.7746 or 303.521.6262.  We would love to be of assistance and would be happy to arrange for a private tour of the SPIRE for you.

John Stegner & Brian Lehnerz
Broker/Owners
New Era Realty

“Your Denver Loft & Condo Experts”

Ah, the words we were waiting to hear.. Denver's SPIRE is starting closings.

We've heard that the first closings at Denver's SPIRE building will be starting next week and the first move dates are scheduled for the following week.  For many this significant event means that SPIRE will become an even better option for new loft and condo buyers here in Denver who are looking at the home buyer tax credit as a significant incentive.  For other buyers this helps greatly... the clients who need a certainty of a move in date.  One of the wonderful things about buying inventory from a developer is that they often have extreme flexibility in their closing date.  If you have a home to sell or a lease that doesn't expire for another 3 months a developer is often working with a timeline over several months (or a couple years) in their sales process.  You need to close in June, no problem.  You need to close as late as possible to still get the tax incentive.. no problem.  SPIRE or other developers are not worried about their own moving dates so the flexibility becomes your benefit.

Of course that is once they have the green light to begin the closing process, which is what we have been waiting for at SPIRE.  Our clients are excited....as Denver's weather warms up and the days become longer the idea of relaxing on an outdoor amenity level, relaxing in a pool, having a fitness center in the building, and relaxing post work out in a spa all sound like a wonderful way to pass the lazy summer days.  And of course with Rockies games starting up, restaurants and bars dusting off their outdoor patio furniture, and the grass along the cherry creek biking and running trails turning green many look forward to ending their commute to the suburbs and the lifestyle of walking to work from their downtown SPIRE address.  It's time folks.  Speculation on what schedule SPIRE would have for closings has been perhaps the single greatest objections.  It made sense for those who wanted to be able to lock their interest rates or needed to plan specific closing dates to wait until the final details were in place.

That's what just happened.  New Era Realty has represented approximately 5% of all the buyer's currently under contract at the SPIRE.  We know the building well and give an objective perspective that you won't get if you walk in off the street and into the sales center.  Although the staff at the SPIRE are wonderful, they do work for the developer.  We work for our clients and this measure of protection and representation during negotiations  ensures that they get the best deal possible.  Please give us a call today at 303-522-7746 or 303-521-6262 or e-mail us at agents@mynewera.com to schedule a private tour of Denver's SPIRE building to see the many wonderful available one, two and three bedroom condominiums in this 42 story tower in the sky.  Activity is increasing and pricing is scheduled to go up with this great news, so let us help you take advantage of the wonderful opportunity SPIRE offers in Downtown Denver Condo and Loft residences.

Loft and Condo living often elicits images of carefree weekends sitting beside the pool rather than sweating as you push the lawn mower around yet again.  However, as you consider purchasing a loft or condo, there are some pros and cons you should consider.  Here are some thought on the subject:

1. The Lifestyle Itself: One of the biggest advantages of condo living can also become a disadvantage. The sense of community, amenities and other features that originally attracted you to a community may change as your needs and desires change. Make sure you select a condo that will meet your needs for a good period of time and one that truly reflects a lifestyle you will love. Although no one has a crystal ball, I can tell you that many of the lofts or condos I show to clients have a baby’s bassinette shoved into some corner.  At that point you pretty much know why they are selling the unit.  Many of Denver’s lofts and condos can be wonderful homes for children, as they are close to parks, do have a pool  and the parents may have more time to spend with their children due to shorter commutes and less property maintenance.  However if starting a family is on the potential horizon, we would suggest that a 2 bedroom with a bath tub would be a logical choice and you might want to evaluate the schools and daycare options in the area.

2. Shared Responsibility, Rules & Regulations: A condo association establishes many rules and regulations - typically by majority vote. Likewise, maintenance and repair costs are also shared by members. Things can get dicey when individual members are at odds with the majority. Examine your willingness to abide by rules, regulations and associated expenses to be adopted by the community.  Further, make sure you review the condo declarations, covenants and restriction to make sure they are right for you. If you have pets or plan on having them, you will want to make sure they are allowed.  Reviewing the meeting minutes is very important as you should be able to pick up on any issues in the community.  We would also suggest you speak with a few of the residents to see what they say about the building/community.  Finally, putting a call into the president of the association and having a conversation is highly recommended.  In Denver as a general rule, pets in loft/condo projects are not a problem with most buildings allowing 2-3 pets per unit.  Exclusions sometimes involve having pets such as snakes that might be able to make a run for it only to give a neighbor cardiac arrest. If you don’t do your due diligence you might also run into problems with even interior changes to the unit.  Recently when reviewing the condo declarations for a client I discovered that he would not be able to put in the hardwood floors he had planned to install after closing.  The building’s sound transference between floors had caused problems and in fact several hardwood floor installations had been removed at the owner’s expense due to this problem.  Thus, avoid suprizes and really do your research on this front when buying a loft or condo in Denver.

3. Privacy and Autonomy: In some instances, condo living can offer less space and individual autonomy. To make the most of condo living it's essential for residents to remain involved in the decisions and activities of the community. Those with a need for privacy and autonomy may feel more comfortable with single-family homes or other housing alternatives.  The flip side of this is that many people make friends and expand their social network through loft and condo living.  You will find residents at the pool or in the courtyard who are grilling and are more than happy to have you share in the food and beverage.  These relationships can result in a community that is safer and more enjoyable for everyone as your fellow loft/condo dwellers become valued neighbors. Every loft and condo complex has its own culture and building architecture has a lot to do with the amount of privacy or community that develops over time.  Think “Melrose Place”, in that T.V. show the building had a shard open courtyard and a pool.  This style of building will result in residents really getting to know each other and if you are looking to avoid the casual conversations with your neighbors as you come and go, this type of condo might not be for you.  You see a lot of examples of these types of buildings as it was a common design in the 1960 in the central Denver neighborhoods. The luxury hi-rise loft building in Denver such as the Glass House, Spire, Beauvallon and Pinnacle all also promote community with their pools, 24 hour front desks, theater rooms, community grills, gyms and other common areas for residents to gather.  The Glass House takes it a step further with a continental breakfast for residence served on Friday, Saturday’s and Sunday’s.  These offer a great opportunity to get to know fellow residents.

4. Still a Need for Repairs: Many major repairs and maintenance items are taken care of by condo associations, but not all, so condo owners aren't completely off the hook. Condo owners should set aside a little time to take care of routine repairs and interior maintenance on their units. Further, when buying a loft or condo it is critical to evaluate the association’s reserves.  The larger the complex, the more money you need to see on the balance sheet of the HOA for exterior maintenance such as painting, roof replacement, elevator repairs and such.  If you don’t review this you may move in only to find that a “special assessment” is on the horizon as the funds to update common areas or replace a boiler are insufficient. Even if you are buying new construction there are risks.  You might think that because it is a new loft/condo building that you are safe from unexpected expenses, however Denver has a history of several buildings having defects that caused owners hardship.  For instance, the Beauvallon is one of the notable and notorious examples in Denver (Denver Post: “Suit Hurts Beavallon Condo Sales”).  You can see it currently wrapped up like a giant Christmas gift as all the stucco exterior is replaced and balconies repaired. This project was a long time in the coming as the defects were discovered well after all the units had been sold and residents moved in.  Litigation between the HOA and the developer took many years and this process drove up HOA fees and made it very difficult to the owners to sell their lofts/condos in the building.  This is just one example and again points to the fact that due diligence is important when jumping into loft and condo market.  We don’t want to discourage people from owning lofts and condos as risks such as these also exist in single family homes that can have structural problem over time and 100% of the costs associated with repairs fall on owner.  Again this is a situation with loft and condo ownership that has its pros and cons.

Finally, each loft or condo building in the Denver area has a history.  Picking an experienced Realtor that has knowledge of past or present problems and building reputations is important. Not only will a good Realtor know the history, but they will be able to tell you the right asking price and market value of the property.  Good agents do more to protect a consumer from over paying than any appraisal ever will.  Further, although a loft or condo may be right for you, an agent who specializes in the loft and condo market will help you understand future value for your investment.  Factors such as the price per square foot in the building for different styles/floor plans, strength of the HOA, laundry in the unit, having a balcony, an elevator, reserved parking, area amenities and other factors will be very important in the potential appreciation of the unit.  The pros and cons aside, a loft or condo can be a wonderful home!  Many of Denver’s downtown dwellers would never trade their walk to work, morning stroll to the coffee shop, or their access to restaurants just outside their front door.  I have many clients who don’t even own a car and are proud or their green lifestyle.  The simplicity of the lifestyle has tremendous appeal and is envied by those who spend a good portion of their day sitting on I-25.  We would love to help you determine if the lifestyle could be right for you and if so, help you find the perfect loft or condo to call home.  Just shoot us a note at agents@mynewera.com and we will set us a time to meet at our office in Lo-Hi.  From there we will roll up our sleeves and get to work for you.

John Stegner & Brian Lehnerz
Broker/Owners
New Era Realty

“Your Denver Loft & Condo Experts”

With a tie in to last weeks post about the upcoming Tax Credit incentive coming to an end it appears that SPIRE is moving quickly to ensure that it's many buyers (or potential buyers) get to take advantage of the credit.  Within the past week clients with residences under contract at SPIRE received their eagerly awaited scheduling letters discussing their upcoming closings.  We should know, many of those clients worked with New Era Real Estate because we have been watching SPIRE since the start and following the construction and buying process.  The building is complete and even their sales team has been operating out of the building for the past month (from their location across the street at the convention center) and the 9th and 10th floor amenity levels have been tested out with a few SPIRE welcome events.  The building looks good!  As clients of SPIRE begin their punch walks and the scheduling of closings commences it may very well create a new surge of activity at SPIRE.  As SPIRE moved forward many potential buyers have been watching.. waiting to leap until they knew exactly when they would be giving up their existing leases or needing to move out of existing homes.  Lower home offerings and developer incentives have made SPIRE an interesting opportunity, as the building comes to live with residents it will be interesting to see how this affects their sales volume.  It's a good time to look at availability and current incentives (including the homeowner tax credit) so please contact New Era Realty to schedule a private tour.

SPIRE is a downtown Denver condo option.  For folks who prefer the Riverfront Park or Central Platte Valley location rumors are circulating that the developer has been targeting the triangle parcel in Front of Glass House and on Commons Park for the next launch.  Engineers and surveyors have been sighted marketing out the property corners (see some little stakes with pink tops.. those would be them) and somewhere architects may be drafting out the final details.  A name for the project... it's too much hearsay to repeat and with Marketing it will likely change anyway but it does sound like whatever is built probably will be a midrise as the heights on that parcel don't allow for a high rise.  That also means the majority of Glass House residents will keep their incredible Western Views. Just give us a ring or drop us an email and we can share any other new project updates for Downtown Denver.  Looking fors something you can move into today.  As we just mentioned Glass House there are a number of incredibly priced resales in this spectacular building.

One final note as the weather begins to warm... both SPIRE and Glass House have pools.  Perhaps one of the nicest amenities in our wonderfully sunny city of Denver.