The ground is thawing, the dirt is moving, and builders are jumping on the momentum of the hot Denver real estate market by announcing two new developments just north of the city.
A recent survey by the National Association of Home Builders and Wells Fargo revealed that builder confidence is at its highest now than it ever has been during the last 6 ½ years, paving the way for the new Midtown neighborhood located just North of downtown and the 25/70 development located in the Denver metro area most commonly known as the Mousetrap (intersection of Interstate 25 and Interstate 70).
Midtown Neighborhood Offers Alternative to Popular Highlands Area
Located just three miles north of the trendy, popular Highlands neighborhood and five miles from Downtown, the new Midtown neighborhood, in the vicinity of 68th Avenue and Pecos, will include 184 acres of mixed-use residential, commercial and retail real estate. The Denver Post recently reported that Brookfield Residential is developing this new neighborhood to offer an affordable alternative to the popular Highlands neighborhood. With initial homes priced in the high $200s, 50 homes are planned for development this year, with a projected total of 1,000 single-family homes, upon the completion of the project. (1) Condo and loft enthusiasts also will be able to call Midtown home with 300 units projected for development in this new up-and-coming north Denver metro neighborhood.
25/70 Development Plans to Transform Industrial Area into Culture-Rich Residential Neighborhood
What was once a Denver manufacturing and warehouse hub will soon be transformed into a second new north metro neighborhood that will infuse art, fashion and food, according to a recent article in The Denver Post. (2) Developers of 25/70 envision building a sought-after area known for its vibrant culture, high-class designed residential and commercial architecture, and close location to Boulder and downtown Denver. With boundaries of Interstates 70 and 25, this new $100 million development will include a mix of multi-family housing, collaborative office space, park areas and entertainment venues.
Fueling the development of these new neighborhood developments in the northern part of the city may be attributed to recent trends of Denver homeowners moving north from the city and specifically to the Adams County area. Data from a recent Denver Post analysis of a U.S. Census Bureau Survey revealed that Adams County saw an increase of more than 5,000 residents per year during the time period of 2006 and 2010. (3) Another consideration for a rise in developments to the North of the city may include the planned expansion of a more diverse transportation network, which will include a mix of light rail, bus routes and biking/walking trail transportation options.
When you are ready to capitalize on the Denver metro area’s hot new developments, contact the team of real estate experts at New Era Realty. Expert agents can help you find your next condo, loft or single-family home in your desired neighborhood and within close proximity to your work and lifestyle needs.
1 The Denver Post, Brookfield Begins Development of Midtown Neighborhood
2 The Denver Post, Denver’s “Mousetrap” to Get High Design Development
3 The Denver Post, Adams County Drawing Residents from Across the Metro Area