With the unprecedented growth in the Denver metro area over the past couple years, it was only a matter of time before home prices in the Mile High City jumped over the $500,000 mark. According to
MixedUse Facility Being Constructed In Five Points Colorado
Construction of an eight-story, mixed-use development is now underway in Denver’s historic Five Points neighborhood. The Lydian, a $40 million property is being developed by the Golden-based Confluence Cos. and Palisade Partners, and will include 129 apartment units, 15,000 square feet of office space and 9,000 square feet of ground-floor retail space.
According to builders:
Apartment units will range in size from about 700 square feet to about 1,200 square feet
There will be approximately 107 market-rate units to average about $2.00 per square foot in rent. In other words, rents would start at about $1,400 a month.
As housing in Denver become more and more expensive, developers say the apartments at The Lydian will definitely will be a more affordable alternative to a lot of the new product being built in downtown and other nearby neighborhoods.
Millennials are typically prime target for apartment developers, but builders of They Lydian anticipate residents who are a little older – young professionals in their 30s, rather than those who recently graduated from college.
Are you looking for properties in the historic Five Points area? Give Metrowest a call – we’d love to show you around!
DAVE NELSON, 4-time 5280 Magazine 5 Star Real Estate Professional. Dave’s career in real estate has chronicled more than 15 years. Known as a true real estate professional, Dave is experienced i....
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