5280 Magazine says Five Points is no longer up-and-coming – Denver Real Estate News

In Denver Real Estate News 5280 Magazine: Why Five Points is no longer on the verge of becoming Denver’s next hot neighborhood. See the full article here or read a tid bit below.

Scroll down to see homes for sale in the Five Points neighborhood in Denver.

Five Points Neighborhood DenverFor more than 30 years, Denver has been trumpeting the revitalization of Five Points. After its tumble from a lively center of music and culture in the 1930s and ’40s to a neglected corner later in the 20th century, many attempts have been made to restore the neighborhood. With each effort, the media hailed Five Points’ return: “Five Points—Making A Comeback” the Rocky Mountain News crowed in 1991. “Five Points sits on the verge of change” the Denver Post claimed five years later.

But Five Points isn’t “poised” to become anything anymore. It already is. If you need convincing, visit Rosenberg’s Bagels & Delicatessen on a weekend and wait in the 20-person-deep line. Or tour the area’s dozen or so construction sites; they represent $250 million of investment by the city and private developers. Or eyeball the soaring median home values: $317,500 in 2013, up roughly 31 percent from 2009.

Five Points Neighborhood Sign - Denver Real Estate NewsToday the question isn’t if Five Points will take off; it’s why, as in, Why now? In part, it’s because our expanding millennial population—the pistons inside Denver’s booming economic engine—and our baby boomers both crave easy access to downtown, says Paul Books, founder of Palisade Partners, a developer involved in several Five Points projects. So every central neighborhood is experiencing a renaissance. “And [Mayor Michael Hancock] made Five Points a priority,” Books says. There may be no better illustration of this than the 2013 Welton Design/Development Challenge.

Two years ago, Denver’s Office of Economic Development (OED) awarded a total of $475,000 to five commercial and mixed-use residential projects along the Welton Street corridor. Not only does this provide an important capital infusion for small projects, such as Rosenberg’s, but it also serves as a signal of the mayor’s commitment to the area, where the Manual High School graduate was raised. Coupled with unique tax breaks (see “TIF,” below), the grants allow the city to foster development while preserving the legacy of a gentrifying area.

Yes. The “G” word. “I don’t have a conversation without gentrification coming up,” says District 9 Councilman Albus Brooks. “It’s happening everywhere, but in Five Points it has a face.” As home values in Five Points have climbed, minority populations have declined. Property taxes have become burdensome. In July, Hancock announced plans for a $15 million fund to preserve and build at least 6,000 affordable homes throughout the city, especially in transit-oriented development areas like Five Points. Most of that money would come from a property tax mill that the city has been crediting back to homeowners (roughly $30 to $50 per home annually). The rest could come from a “housing linkage fee,” essentially a one-time fee developers would pay…..

See the rest of the 5280 Article here.

See all homes for sale in the Five Points Denver Neighborhood below

 

 

New To Site
$545,000
MLS# 8454584
Active
2137 N Downing St
Denver, CO 80205
2 BR | 4 BA | 1,577 Sqft | Attached Single Family
Stunning modern luxury home! 2 large bedrooms, 4 bathrooms and 2 car garage. Rooftop patio / deck with amazing city and mountain views-perfect for entertaining! This newly built row home is immaculate with a contemporary open, light an (more...)
Equity Colorado
New To Site
$569,000
MLS# 9961783
Active
2105 N Downing St
Denver, CO 80205
3 BR | 4 BA | 1,795 Sqft | Attached Single Family
OPEN SAT 12-4, SUN 10-2. Vintage charm, thoughtfully built in 2000, reflects the character of San Rafael historic district. Unlike boxy new builds, this townhome fits the area and lives like a single family home. Enjoy three levels with spa (more...)
West and Main Homes Inc
New To Site
$625,000
MLS# 7272828
Active
2204 Washington St
Denver, CO 80205
2 BR | 3 BA | 1,616 Sqft | Attached Single Family
In the heart of the city, this remarkable town home features two bedrooms, three bathrooms, a third floor flex space and an expansive roof top patio. The main floor has an open floor concept and an absolutely stunning kitchen perfect for en (more...)
LIV Sotheby's International Realty
New To Site
$699,000
MLS# 3879068
Active
2570 Lawrence St, Unit 206
Denver, CO 80205
3 BR | 3 BA | 1,738 Sqft | Attached Single Family
S * park! (Sustainability Park)Cutting Edge and architecturally savvy design by award winning TRES Birds Workshop-own a piece of a private park in the heart of the city * S * park includes stunning gated, gorgeous landscape park for all ow (more...)
LIV Sotheby's International Realty
$875,000
MLS# 5708898
Active
2312 Curtis St
Denver, CO 80205
3 BR | 4 BA | 2,874 Sqft | Attached Single Family
This Corner Unit Home Features Urban Living at its Finest with Panoramic Views. Amazing Opportunity to Own a Stunning 3-Bed / 3.5 Bath 2,800 SF 4-Story Contemporary Centrally Located Between Five Points, Curtis Park / RINO and Lodo. Upon (more...)
RE/MAX Professionals
$299,000
MLS# 2781868
Active
2550 Lawrence St, Unit 205
Denver, CO 80205
1 BA | 519 Sqft | Attached Single Family
S * park! (Sustainability Park)Cutting Edge and architecturally savvy design by award winning TRES Birds Workshop-own a piece of a private park in the heart of the city * S * park features include stunningly beautiful gated, meticulously l (more...)
LIV Sotheby's International Realty
$419,000
MLS# 7400687
Active
2525 Arapahoe St, Unit 211
Denver, CO 80205
1 BR | 1 BA | 800 Sqft | Attached Single Family
S * park!(Sustainability Park)Cutting Edge and architecturally savvy design by award winning TRES Birds Workshop-own a piece of a private park in the heart of the city. S * park features include stunningly beautiful gated, meticulously la (more...)
LIV Sotheby's International Realty
$429,000
MLS# 9148220
Active
2525 Arapahoe St, Unit 109
Denver, CO 80205
1 BR | 1 BA | 800 Sqft | Attached Single Family
S * park! (Sustainability Park)Cutting Edge and architecturally savvy design by award winning TRES Birds Workshop-own a piece of a private park in the heart of the city * S * park features include stunningly beautiful gated, meticulously l (more...)
LIV Sotheby's International Realty
$850,000
MLS# 2289439
Active
2550 Lawrence St, Unit 102
Denver, CO 80205
3 BR | 3 BA | 2,322 Sqft | Attached Single Family
S * park! (Sustainability Park)Cutting Edge and architecturally savvy design by award winning TRES Birds Workshop-own a piece of a private park in the heart of the city * S * park includes stunning gated, gorgeous landscape park for all ow (more...)
LIV Sotheby's International Realty
$549,000
MLS# 5568131
Active
2525 Arapahoe St, Unit 206
Denver, CO 80205
2 BR | 2 BA | 1,307 Sqft | Attached Single Family
S * park! (Sustainability Park)Cutting Edge and architecturally savvy design by award winning TRES Birds Workshop-own a piece of a private park in the heart of the city * S * park features include stunningly beautiful gated, meticulously l (more...)
LIV Sotheby's International Realty
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