According to a recent report from Zillow, Denver homes won't appreciate as much as the national average over the next year. Zillow estimates that nationally, homes will appreciate 3.1 percent over
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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