The Changing Trend over 10 Years in Denver
Real Estate Development has certainly changed over the past 10 years. While once the landscape of Denver was filled with cranes building such high rise projects as SPIRE, Glass House, and ONE Lincoln, today those cranes are focused on apartment buildings and for rent.
But development hasn’t stopped, it has just gotten much more focused and the projects are much, much, smaller. The new focus seems to be in Northwest Denver, specifically the Lower Highlands (LoHi) and Jefferson Park area. The size and scale is now focused on Modern Duplex projects, small multi dwelling unit projects, and mixed use projects in the 10-30 unit range. Compare that to SPIRE’s nearly 500 or Glass House at nearly 400 and you see that not much in terms of high density is being built for residential.
Highland and LoHi Have New Development Projects
But that doesn’t mean there aren’t more than enough to pick from in terms of new development. According to last week’s Westword article “Condo projects in Denver: Where are they and why are they so rare?” there are 88 to pick from in the Highland area alone.
And from our New Era Team knowledge of the area, there are even more new and exciting developments on the way. The tricky part is knowing which projects offer the best value, location, and construction in a time when buyers are feeling pressure to make quick decisions before inventory disappears. LoHi and the Highland area are in high demand. New Developments are often being sold off of floor plans and renderings. There is nothing wrong with this process if you know the questions to ask and what to look for. Buyers at Glass House and SPIRE that we worked with go through the same process as buyers for a modern duplex. But often common wall agreements or smaller HOA considerations should be looked at closely.
Now more than ever expertise and knowledge are critical in selecting an agent to work with. Our buyer representatives will help you not only look at the real estate homes and condos for sale that you can walk through and “kick the tires”, but we will also help to navigate the often confusing world of pre sale agreements, floor plans, construction details, and association structures.
It’s a great time to be a buyer if you have the knowledge and experience on your side. Contact New Era Realty today to learn more.