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
MLS# 4176759
Active (List Price)
1950 N Logan St, Unit 504
Denver, CO 80203
2 BR | 2 BA | 1,071 Sqft | Attached Single Family
This elegant 2 bedroom, 2 bath corner unit in the popular Tower on the Park features an airy and bright modern layout with large windows and high ceilings. Additionally, the open Chef's kitchen is well-appointed with slab granite counter to (more...)
Compass - Denver
New To Site
MLS# 2054798
Active (List Price)
2530 Lawrence , Unit 305
Denver, CO 80205
960 Sqft | Attached Single Family
Westfield Property Services LLC
New To Site
MLS# 5137477
Active (List Price)
1239 31st St
Denver, CO 80205
2 BR | 2 BA | 1,226 Sqft | Attached Single Family
A delicious blend of classic and modern style smack dab in the middle RiNo on Larimer and 31st. Well preserved 1900s masterpiece, well-aged, updated, and always up for entertaining. Corner unit! Light, bright and open with hardwood (more...)
Urban Luxe Real Estate
New To Site
MLS# 8726180
Active (List Price)
921 E 20th Ave
Denver, CO 80205
2 BR | 2 BA | 1,310 Sqft | Detached Single Family
Looking for a traditional Victorian style home in an amazing historic neighborhood? Take a look at this stunning home in San Rafael. 2 large bedrooms, new 2nd floor bathroom with massive walk in shower, small loft space and newly updated (more...)
Signature Real Estate Corp.
New To Site
MLS# 3294452
Active (List Price)
2318-2322 Arapahoe St
Denver, CO 80205
0.14 Acres | Land
Pinnacle Real Estate Advisors
New To Site
MLS# 5013414
Active (List Price)
3445 Larimer St, Unit 102
Denver, CO 80205
2 BR | 3 BA | 1,192 Sqft | Attached Single Family
Check out the hottest location in town! This newer construction luxury Row Home is walkable to everything in RiNo! This unit is a rare unit on the outside of the complex with easy access to the main street and lots of privacy. The main l (more...)
New To Site
MLS# 8698444
Active (List Price)
1465 30th St
Denver, CO 80205
2 BR | 4 BA | 1,481 Sqft | Attached Single Family
Location, location, location…it doesn’t get any better than this! Not only will you love the neighborhood…you will love this town home built by Sprocket Design Build!! Beginning with a great entry with cool tile floors (more...)
New To Site
MLS# 2230381
Active (List Price)
2416 N Washington St
Denver, CO 80205
2 BR | 3 BA | 1,308 Sqft | Attached Single Family
Welcome to city living at its finest! Shops, restaurants, and light rail are blocks away, or walk 20 minutes downtown. Host friends on the rooftop and enjoy breathtaking views of the mountains and city. The main floor has big windows, high (more...)
MLS# 2979341
Active (List Price)
1002 E 25th Ave
Denver, CO 80205
3 BR | 2 BA | 1,728 Sqft | Attached Single Family
Modern Features with Turn of the Century Charm! You'll love this move-in ready townhouse with newly remodeled kitchen featuring stainless steel appliances with gas range / stove, new cabinets with soft close / dove tail drawers and pull o (more...)
New To Site
MLS# 7951604
Active (List Price)
2446 Glenarm Pl
Denver, CO 80205
4 BR | 4 BA | 2,292 Sqft | Attached Single Family
Impeccable Denver Half Duplex!! Quartz Counter Tops / 5 Burner Gas Stove / 4 Piece Custom Master Bathroom / Breakfast Bar / Pendant Lights / 9' Ceilings / Recessed Lights / Dual Rail Stringer Staircase / Electric Fireplace (more...)
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