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# 7160895
100 Park Ave, Unit 1806
Denver, CO 80205
1 BR | 1 BA | 706 Sqft | Attached Single Family
Enjoy stunning views from this immaculate one bedroom condo with perfect exposure to the southwest! New carpeting and fresh paint make this condo move in ready for you. Granite counters, stainless appliances and gleaming wood floors all add (more...)
Keller Williams Integrity Real Estate LLC
New To Site
MLS# 9537953
3043 California St
Denver, CO 80205
3 BR | 1 BA | 1,249 Sqft | Detached Single Family
Amazing opportunity for a beautiful new home, AND potential income producing ADU! This sweet property has been lovingly maintained, and amazingly updated over the years. Bamboo flooring welcomes you throughout the home. This Curtis Park (more...)
New To Site
MLS# 8515871
2564 N Emerson St
Denver, CO 80205
2 BR | 2 BA | 1,302 Sqft | Attached Single Family
Covered front porch invites you into this clean and updated historical row house in the heart of Five Points! Tall ceilings and exposed brick walls in the kitchen! Fresh neutral paint thru-out with white trim and baseboards! HW floors (more...)
Go Real Estate Company
New To Site
MLS# 9902818
1469 27th St
Denver, CO 80205
2 BR | 3 BA | 1,298 Sqft | Attached Single Family
Convenient city-living at its finest in the hottest neighborhood in Denver, RiNo Arts District. Just a short walk from the 38th and Blake light rail station and steps away from RiNo's bars, restaurants, hotels, Coors Field, and Denver C (more...)
Colorado HomeFinder LLC
New To Site
MLS# 8367022
3457 Ringsby Ct
Denver, CO 80216
6,200 Sqft | Commercial
Rare opportunity to own an incredible office condo in RiNo's Taxi Community. Unit boasts windows in every direction providing tons of natural light in addition to 3 operable garage doors, allowing for plenty of fresh air. Space includes 2 c (more...)
Urban Places LLC
New To Site
MLS# 2207811
2549 Glenarm Pl
Denver, CO 80205
2 BR | 1 BA | 1,221 Sqft | Detached Single Family
Come enjoy this home located in the heart of Historic Five Points, one of Denver's hottest neighborhoods. Walking distance to the light rail, shopping and restaurants. Close to Coors field and all the fun downtown Denver has to offer! This (more...)
Open House Apr 28th
MLS# 6366311
2525 Arapahoe St, Unit 101
Denver, CO 80205
2 BR | 2 BA | 1,248 Sqft | Attached Single Family
S * Park (Sustainability Park) is a forward thinking, sustainable, Agrihood community designed by award winning, Tres Birds Workshop. S * Park is a secured community that features a professionally landscaped private park in the middle of th (more...)
Westfield Develop Co Inc
New To Site
MLS# 2489912
100 Park Ave, Unit 703
Denver, CO 80205
1 BR | 1 BA | 706 Sqft | Attached Single Family
Fall in love with all 100 Park Ave West has to offer from its resort style living with a year around heated pool and hot tub / spa, to its exclusive one of a kind dog park, workout facility, community room, conference room and business (more...)
MLS# 5495416
1016 31st St
Denver, CO 80205
4 BR | 2 BA | 2,360 Sqft | Detached Single Family
Turn of the Century 2-story Victorian on Curtis Park. This house needs work but has tons of potential!!! Features include 4 bedrooms, 2 baths, large living and dining rooms, 2nd kitchen upstairs, concrete slab in backyard with alley acces (more...)
Brokers Guild-Cherry Creek Ltd.
MLS# 2313157
2363 Tremont Pl
Denver, CO 80205
4 BR | 4 BA | 3,000 Sqft | Attached Single Family
You will love this delightful 2-story townhouse with over $100,000 in upgrades. This 4 bedroom, 4 bathroom home has it all - giving you 3,000 sq. ft. of spacious elegance, wood floors, built in speakers, high end upgrades, and a modern gour (more...)
American Home Agents
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