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

 

 

Open House Nov 18th
$400,000
MLS# 6561920
Active
1975 N Grant St, Unit 323
Denver, CO 80203
2 BR | 2 BA | 886 Sqft | Attached Single Family
Urban living at it's finest! This home welcomes you with lots of natural light, open living / dining. The modern kitchen features stainless steel appliances, granite countertops and opens to the spacious living room - perfect for entertaini (more...)
West and Main Homes Inc
New To Site
$395,000
MLS# 2420462
Active
3127 California St
Denver, CO 80205
2 BR | 1 BA | 1,386 Sqft | Detached Single Family
Great location 2 bedroom 1 bath home with detached garage close to light rail. This home has a newer roof, furnace, hot water heater, electrical panel, with hard wood floors underneath carpet. Nice starter home or investment property. It (more...)
HomeSmart Cherry Creek
New To Site
$699,000
MLS# 5912803
Active
2333 Tremont Pl
Denver, CO 80205
2 BR | 2 BA | 2,352 Sqft | Detached Single Family
City View! Your future home is located on the border between modern Uptown and historic Five Points! One of Denver's only neighborhoods that offers single-family homes on the fringe of downtown! High ceilings, exposed brick, and hardwood fl (more...)
TRELORA
New To Site
$410,000
MLS# 2140902
Active
1975 N Grant St, Unit 201
Denver, CO 80203
2 BR | 2 BA | 940 Sqft | Attached Single Family
Beautiful Condo in trendy Uptown WITH DEEDED GARAGE PARKING and beautiful views of the Benedict Fountain Park! Open floor plan makes this 2 bed 2 bath unit feel light and airy! Large master bedroom with an en-suite bathroom and walk-in clos (more...)
RE/MAX Professionals
New To Site
$375,000
MLS# 9223803
Active
1009 30th St
Denver, CO 80205
2 BR | 1 BA | 972 Sqft | Attached Single Family
Location! Location! Beautiful, completely remodeled row home just steps from Curtis Park! Gorgeous Brazilian teak hardwoods and open layout; Living Room, Dining area, and Kitchen. Kitchen features granite-slab countertops with decorative ti (more...)
TRELORA
New To Site
$799,999
MLS# 2890716
Active
3411 Larimer St
Denver, CO 80205
2 BR | 825 Sqft | Income
Downtown Denver is a unique setting that provides its residence with an environment that is vibrant and ever-changing. The CBD of Denver serves as the central geographic hub of economic, cultural, educational and entertainment activity maki (more...)
HomeSmart Realty Group
New To Site
$5,299,999
MLS# 9018013
Active
3759 Chestnut St
Denver, CO 80216
2,525 Sqft | Commercial
Downtown Denver is a unique setting that provides its residence with an environment that is vibrant and ever-changing. The CBD of Denver serves as the central geographic hub of economic, cultural, educational and entertainment activity maki (more...)
HomeSmart Realty Group
Open House Nov 18th
$375,000
MLS# 8685031
Active
2314 N Ogden St
Denver, CO 80205
2 BR | 1 BA | 1,230 Sqft | Attached Single Family
Perfect urban location between Uptown, Downtown, RiNo, 5 points and City Park, and so walkable to everything! Vintage character but updated, and with all the features on your wish list: exposed brick, wood floors, gas fireplace, central A / (more...)
Preferred Properties Inc
Open House Nov 17th
$306,000
MLS# 8995533
Active
2550 Lawrence St, Unit 206
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 (more...)
LIV Sotheby's International Realty
New To Site
$415,000
MLS# 5798992
Active
1975 N Grant St, Unit 603
Denver, CO 80203
2 BR | 2 BA | 886 Sqft | Attached Single Family
Warmth, charm, convenience and location define this rare two bedroom, two bathroom and yes. . . .TWO DEDICATED GARAGE PARKING SPOTS condo in the heart of Denver. This open concept home is ideal for entertaining especially should the event (more...)
Thrive Real Estate Group
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The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (IDX) program of METROLIST, INC., DBA RECOLORADO © Real estate listings held by brokers other than Brokers Guild are marked with the IDX Logo. This information is being provided for the consumer's personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified. See Disclaimer Listing Data last updated: November 17, 2018 03:00 MST Service by Buying Buddy IDX CRM

 

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