Benefits of Investing in New Construction Real Estate in Denver CO

Are you a real estate investor thinking of the best place to buy your next property?

If you are, then you should consider buying in Denver, Colorado. As the most populated city of the Mountain states and the fifth most populated state capital in the United States, Denver has been steadily attracting a stream of major businesses and new settlers for the past years.

Colorado’s population grew by more than 100,000 over the last seven years, with a significant portion of those people ending up in the capital.

Why are people, businesses, and real estate investors making the move to Denver, CO?  

Why choose Denver?

1.    Presence of many large corporations

Around 33% of 58 major tech companies in the USA are located in Denver, including Amazon and Google. But it is not just tech companies that are moving to the city; Denver has one of the most diversified – and therefore strongest – economies among US cities.

2.    Important tourist hub

Denver offers easy access Colorado ski resort towns. People travelling from all over the world to these locations make a stopover in Denver. But the city is also a major tourist location in its own right.

3.    Major universities

Denver is home to the Metropolitan State University of Denver, Colorado State University, and the University of Colorado system. These institutions provide steady demand for student housing.

4.    Denver is recession safe

Denver is rated by Redfin as the city west of the Mississippi with the lowest overall risk of a recession. In this regard, it is ranked 12th among US cities Denver will recover from a recession faster than most US cities. In six to ten years, it will rebound by 100-127% respectively.

5.    A stable rental market

Denver was one of the cities where the rental market remained strong throughout the pandemic, says BighornRentals.com. This is a testimonial to the strong demand for rental property and the city’s robust economy.

What kind of real estate should you buy in Denver?

Although there are many well-maintained resale homes to buy in Denver, there are good reasons to look toward buying a new construction home. In terms of value and quality, investors who opt for a new construction home will be getting more.

Moreover, with the current high demand for existing homes, choosing to build your property from the ground up offers you more control.

Why buy new construction real estate in Denver

1.    Ability to choose your preferred location

Nothing influences the value of your property like its location. Finding the right home in the right place is hard when buying a resale home; most times you have to make difficult tradeoffs. This is not the case with new construction homes as you get to decide where you want the home to be.

2.    Pay less for your home

With many buyers paying above the asking price, many of Denver’s houses may be currently overpriced. But even with the increases in prices of building materials, you will still be able to finish your new home at a lower price than you would buy the same home. But once completed, the house could sell at the same price as comparable homes.

3.    Take advantage of great discounts and financing

Many of Denver’s builders have special offers for buyers; from price reductions to free gourmet kitchens. Some will even offer in-house financing with decent rate buy downs. You can also get good discounts on closing sales, as well as, other very attractive offers.

4.    A modern floor plan

Instead of being locked into the floor plan chosen by the original designer of the house or undertaking expensive renovations to alter the old floor plan, you can start with a blank canvas. Your builder can help you choose a contemporary floor plan, meets your needs, and will not cost a lot to modify.

5.    Get an up-to-date home

The home will be state-of-the-art in terms of the kind of building materials used, the building technology employed, its design, and the appliances inside it. You will not be grappling with many of the problems older homes have to deal with because you will solve them from inception.

6.    A green building

By choosing a new construction home over a resale home, you avoid the cost and hassle of retrofitting an old home to make it energy-efficient. From the get-go, you can design your home with energy efficiency in mind. You can incorporate smart features into the building with ease.

7.    Lower maintenance costs

Builders will typically offer a warranty of two years for everything in the home and 8-10 years for the building’s structures. This means you will not spend on maintenance in the first few years. Even when the warranty ends, your maintenance costs will still be low because everything in the home will be new.

When buying a property, your three major concerns are usually location, the initial cost of buying the property, and the cost of maintaining it. When you buy a new construction home, you can get the absolute best across these three areas.

DECREASE IN DENVER SHORT TERM RENTALS CREATES NEW OPPORTUNITIES

From “Stay Safe Colorado See You Soon!” to “We’re Back” the local cinema, Mayan Theatre, which concentrates on independent movies & foreign cinema, has finally reopened.

With the local state leadership in Colorado, our state has continued to excel in handling the pandemic and terrors which have affected many American cities. As many coastal cities are being abandoned in droves, and values decrease, Denver has maintained growth and stability.

Experts Anticipate an Incoming Strong Seller’s Market in Denver, CO

SOURCE: DMAR JULY 2020 REPORT

Denver Metro Association of Realtors (DMAR), released in their July report which systematically covers the activities and transactions of real estate activity in Denver’s surrounding metro area. As shown in their July report, DMAR recognized the increase in RE activity. They state and show multiple increases in closings and showings; DMAR recorded multiple record-breaking numbers. With the healthy activity but fewer new listings, Denver is en route to a competitive seller’s market. "Remember how fast toilet paper and personal protective equipment (PPE) was selling when the coronavirus first hit the country a few months ago?” Says Jill Shaffer, Chair of the DMAR Market Trends Committee, “Apparently everyone stocked up on those necessary items because in June, they turned to buying houses with the same level of frenzy.”

As Denver’s housing market progressives, other major city outlets are lessening and dropping in property value. As reported, Silicon Valley predicts future trouble. As they incorporate the new systems and ways of digital growth, Silicon Valley has been on the forefront of developing systems to help individuals work from home. However, as some experts predict, this is resulting in less individuals staying in the bay area.

Along with Silicon Valley, other large tech-based communities are not reporting any good or progressive news. The only large technical municipality that shows good numbers is Denver’s local DTC. Experts predict Denver to be one of the quickest to recover from COVID-19 loses.

In Denver, Short Term Rentals Continue to Decrease

City of Denver reported a substantial loss in short term rental taxes. DMAR’s August report also includes how STR taxes have dropped by 55% from 2019. Denver local hotels also contribute to this incoming tax; however, they substantially contribute a lot less than what STR hosts bring in for the city. The loss in STR taxes comes from lack of tourism and visitors to Denver. It was also found that in Denver, the number of Lodger tax accounts was substantially larger than the number of active licenses.

The global pandemic and quarantine lessened tourists and guests in Denver; however, it is not the only variable. Because of less action, the Department of Excise and Licensing has brought more attention to the STR license process. With Host Compliance, they managed to find over 1200 inactive license users in the past few years, which is just the start of the process. This year alone, the Department of Excise and Licensing has closed the process to over 200 license renewals, denied 58 new licenses, and still looking into nearly 400 affidavits. (These numbers do not include the affidavits the department has denied). The blockade of new licenses and affidavits could stem from the new wording in Denver’s STR license regulations. As the department hired more manpower to carefully inspect active licenses, more Airbnb/Short term rentals will be closed/fined for not following the exact verbiage of the new ordinances.

As the City enforces and regulates short term rentals and their licensees more, startups and investors also have their own problems amidst COVID-19. At the beginning of the government mandates and company responses to the pandemic, Airbnb allowed all guests the ability to cancel their trips with 100% refund guaranteed. Property managers and startups did not prepare for the excruciating lack of income through March, April, May, etc… Some hospitality startups have filed for bankruptcies, others sold their rentals to new companies.

So what exactly does this all mean? Is it good? Bad? Honestly, it’s a scary mixture of both (just like everything going on in the world). As experts predict the recovery of Denver’s housing market – investors, capitalists, and corporations will begin to snatch up as many lots and assets available. With the new enforcement and regulations surrounding STR, many of the capitalists buying homes will not be able to create short term rental homes (or shouldn’t be able to).

An Attainable Way for the Highest Return on Value for Denver Homes

As planned and developed years ago, Denver Development Group has been incorporating the AirBnb Suite (ADU) to a good portion of the upcoming duplexes. Originally named the Mother-in-Law suite, this incorporation allows any individual buyer to maximize returns on properties. As shown in our newest Villa, this suite has a private entrance, private appliances, private living space – a full entire private entity/suite. Although it is a fully separate entity, by code it is legal to gain an STR license.

Get in the Playing Field Before Short Term Rentals become Monopolized

If you are interested in investing into your own home and are currently searching for a your own beautiful land in Denver. Contact us, or sign up for our project updates to be the first on exclusive deals.

COVID-19’S AFFECT ON DENVER REAL ESTATE

Is it a good time to invest? Good time to buy a house? Should I sell my assets? Hold onto my assets? Where is Denver real estate going? According to this Forbes report, “Denver and Salt Lake City are well-positioned to retake their crown as two of the fastest-rising metro areas in the US.”

It’s a no brainer, COVID-19 has been able to affect everything in different ways. Real estate is no different. But how badly has coronavirus affected Denver real estate in 2020.

PRE-COVID 2020

Before COVID began to affect the United States’ economy, Denver’s real estate was booming. Heading into the new year, the market was a healthy seller’s market. The Denver Metro Association of Realtors, DMAR, wrote in their March report that over 1,300 listings were successfully closed.

Real estate and economy experts predicted only positive perceptions for the upcoming 2020 market. The US economy was healthy; the GDP sat at 2.1% throughout the first three months. More jobs and businesses continued to grow in Denver, as well as other cities. Even the real estate day to day operations were positively growing. ShowingTime tracks the number of real estate showings weekly. Heading into our busiest and best season for Denver real estate market, showings gradually rose.

At the beginning of 2020, Denver was on route to breaking real estate sales and activity records.

What could go wrong? The first three months of 2020 were good; investors and experts were hopeful. But then, a growing tumor finally infested inside the walls of our land. A global pandemic.

COVID 19 // STAY AT HOME ORDER

Although some sources provide another date, the first official case reported of the virus entering the United States is on January 19, 2020. SARS-CoV-2 began its spread throughout the United States, affecting states at different rates.

The State of Colorado, and Denver especially, took great precautions and steps to help slow the spread of the viral disease. Governor Polis declared a disaster emergency on March 10th, which began Colorado’s fight against the pandemic. March 26th started the STAY-AT-HOME ORDERS.

On March 20, 2020, Governor Polis spoke about the plans ahead for handling the coronavirus and this economic crisis. With quick decision-making, the state set plans in action to help individuals from every classification. An emergency fund for unemployment and companies, low mortgage rates for loans dedicated to small business owners, a prolonged payment for property, sales, and use taxes.

Frederico Pena, Senior Advisor at Vestar Capital Partners, spoke after the Governor. He, along with teams of investors and companies, are creating ways to help stabilize our economy. He along with committees and sub-committees, were dedicated to creating new ideas to help form our Denver economy. From ColoradoPolitics, “Pena told reporters the council's focus will first be on workers and second on business, especially small businesses. ‘Speed is of the essence,’ he said, to help workers and companies that are struggling right now.”

As a Colorado prison reported a horrible spike of infected, along with a Greeley meat packing faculty, there is no doubt that SARS-CoV-2 is very present in our beautiful state. Using John Hopkins University tracker, Denver county alone has reported over 4,500 cases with 265 dead.

During the month of March, when quarantine began and an outbreak occurred, Denver real estate continued. 3,416 homes were available in the Denver area. 1,091 went under contract. 948 of them closed. 1,377 homes were available from 200k to 10 mil. There were low interests’ rates, low inventory, and high demand which equaled a strong seller’s market.

DMAR reported the number of active listings at the beginning of each month. In March, Denver had 4,835 listings, April had 5,776, and May was at 6,885. Although Stay-At-Home orders slowed showings, closing processes, and overall activity – Denver real estate listings gradually increased.

However, a slight increase in active listings does not portray an accurate depiction of Denver economy and the Denver real estate sector. Showings were drastically down. Closings were down. As certain states enforced lockdowns, unemployment cases rose. The Department of Labor reported 20.5 million cases in April alone, with the rate rising to 14.7%. They recognized that all employment dropped in every major industry sector. Economy experts reported the US GDP decrease, which stopped the longest period of growth.

The Denver real estate industry still pushed through, as it always has. This reporter even claims tremendous success. As real estate brokers adapted to virtual showings and closing processes, many came with the same conclusion: the need and desire of Denver housing is still substantial.

POST STAY-AT-HOME ORDER // SAFER-AT-HOME

As we all enter this next new phase, and warmer days come through, we all wonder – will it be okay? Will we hit another recession? I mean, in certain ways/perspectives, our current situation can already be viewed as a recession. However, statistically – the worst months have yet to come. Will it be as bad as some think?

We can throw out various statistics, numbers, predictions, and expert opinions to try and predict the future; however, we won’t know until we’re there. We can, however, depend on the current fundamentals for Denver real estate: low inventory, low interest rates, willing buyers. This alone should keep the market stabilized.

Nicole Rueth, a local Denver lender, summed up Denver’s housing market in this video. “Location, location, location” Rueth says in the video, “the same can be said about the impacts of COVID 19 across the states”. As many coastal cities will see a very negative impact in the months to come. Many experts predict that Denver’s housing market will prosper. ATTOM Data Solutions, US real estate experts, shared a webinar breaking down the most vulnerable US Housing Markets. Denver was no-where on the list. “The number of people thinking of moving is expected to drop, Denver has been in the longest standing seller’s market,” Reuth says, “It would make sense that the scales would tip to create a balance environment between buyers and sellers. Denver market consistently sees a high demand for homes.”

Fannie Mae/Freddie Mac have reported historically low-interest rates, giving buyers increased buying power. As MortgageReports wrote, we are not sure of what the rates will be in the summer. They could shoot up; they could stay low. But they are historically low now.

So yes, now is a great time to buy Denver real estate.

If you, or someone you know is looking for a home. Check out our great Denver townhomes on the market! Also be sure to check out Denver Developer’s upcoming projects via our main page, or contact us here for real estate opportunities available today.

URBAN MID CENTURY COMING TO NORTHWEST DENVER

Be apart of a unique design and style offered in Sunnyside, Denver. Although many architectural designs and styles cover the Denver area, very few try to take the approach of the renowned style of Mid-Century architecture. What is Urban Mid-Century?

URBAN MID CENTURY DESIGN AND ARCHITECTURE

Many architects and designers around the world organically crafted their own styles and interpretations, mid-century modern was first coined by Cara Greenberg, in her book Midcentury Modern: Furniture of the 1950s. Following, professionals and experts began to construct criteria and characteristics of what Mid-Century modern was.

One of the most recognized developments of this style happened in Palm Springs, California. Designers such as Richard Neutra, John Lautner, and Donald Wexler brought mid-century to Southern California (Pictures shown below). Their art is world famous; The Mid-Century architecture covered in Palm Springs has become a tourist attraction. They were beautiful, inspiring. They made individuals feel connected with not only their homes but the nature that surrounded them.

World Famous Mid-Century Modern Architecture:

Bailey House, by Richard Neutra

Silvertop, by John Lautner

Dinah Shore, by Donald Wexler

URBAN MID CENTURY CHARACTERISTICS

overhanging windows

These homes support open-wide windows. Natural light pours throughout the living spaces.

open space

Many popular Modern-Century homes have minimal walls. With large open living spaces, home buyers can really connect with their homes.

entertainer’s courtyard

Beautifully designed Mid-Century Modern homes contain open outdoor courtyards with pools, gardens, or dinner patios that connect to an indoor living space. This design offers eccentric life combined by an outdoor and indoor link.

integrated elevation

Mid-Century modern homes tended to be on one consistent flat plane. They integrate small steps, sectional walls, and slanted ceilings giving the individual a greater sense of depth and variation in the home.

These homes create bonds with home buyers. They don’t make you feel contained in a cookie-cutter home with enclosed rooms and walls. They create a real connection between you, the open layout, and the actual land.

Right now, these homes are very minimal and spread on the Denver market. They aren’t located anywhere on the North, West, or East side of Denver.

---

EXCLUSIVE URBAN MID-CENTURY HOMES COMING TO DENVER

GET IN BEFORE IT’S TOO LATE. Denver Development Group is releasing a few sites available for purchase. Like the beautiful homes in Palm Springs, our Mid-Century homes will offer every Mid-Century characteristic mentioned.

Highlights

o Individual lots starting at 390k, Estimated Finished Product at $1.15MIL

o Three exclusive Mid-Century architectural designs to choose from

o Preapproved investors/buyers can select their own interior design options (such as: countertops, tile, interior paint, fixtures, and more)

If you are interested in owning your own Urban Mid-Century masterpiece in Sunnyside, Denver. Contact us, or sign up for our project updates to be the first on exclusive deals.

The History of Empower Field at Mile High {A Denver Highlands Landmark}

---

Denver is nothing if not full of iconic landmarks—pieces of history that dot its landscape and bring pride to the locals. Empower Field at Mile High, formerly known more simply as “Mile High Stadium,” is steeped in local importance and lore. Sitting just across Federal Boulevard from many of the Denver Developer’s own project sites, it remains a constant reminder of the great city and its past, and also of its growing and burgeoning future.

The History of Mile High

The name itself is playing off the height dynamic the city of Denver sits at, 5,280 feet above sea level. In fact, the current Mile High Stadium was a replacement of an even older one, the original home of the Denver Broncos that was built in 1948 (though it was first built to host baseball games, and was not used for American football until the ‘60s). In early 2000, the stadium body began to be replaced with the iconic look that Empower Field now has. In 2001, the field was open to the public, newly dubbed Invesco Field due to Invesco’s $120 million paid for naming rights. It came complete with a Colorado Sports Hall of Fame and a ring of important Denverite sports players through the years. It remained Invesco Field for ten years, and saw hundreds of games played on the grounds. Outside of the Denver Broncos, rugby groups, lacrosse, world-class celebrities, and monster truck rallies all utilized the stadium for their own events. The stadium has sold out every single Broncos game since 2001, following the streak of the original stadium since 1970. Even today, the “Mile High Thunder” rumbling (from fans’ stamping feet toward the top of the bleachers) can be heard echoing through the nearby Denver urban area.

Its location so close to downtown Denver and right of I-25 has made it a definitive landmark for the city over time, and serves as a great spot for the stadium’s variety of purposes.

In 2011, the Invesco title went and away and was replaced with sponsor Sports Authority’s moniker, which it remained until the companies liquidation near the end of 2016. Over this time, the field gained lots of traction and popularity thanks to the inclusion of star Peyton Manning on the Denver Broncos team. The field’s name changed again in 2018 to simply Broncos Stadium at Mile High, perhaps the most fitting out of all the previous names.

A new corporate negotiation saw Empower Retirement take the name toward the end of 2019, which brings us to the present naming of the field. Fans opposed the name change simply because Mile High Stadium and Broncos Field felt the most appropriate and accurate; nevertheless, the change occurred.

Mile High Today

Usage today varies as much as it did in the past. Upcoming events include Monster Energy Supercross sporting, as well as Justin Bieber’s recent singing tour ‘Changes.’ Marching band finals and even college football rivalries are settled here, and of course the Denver Broncos romp out on the field for every home game in their season. Many visiting pro athletes lament the altitude associated with the city, as it does in fact deal some impact on their performance. Denver Broncos rivals beware.

Bucky the Bronco is displayed proudly on the front of the stadium. He is not the only traditional piece that fans still cling to despite the constant name change. Many of the chants from decades of American football seasons have persisted, including the famous “IN-COM-PLETE” intimidation chant that audiences shout out when the visiting team’s pass fails to meet its mark.

Any time the stadium has hosted Broncos playoff matches, the entire Denver area benefits from the increased revenue streams and visiting fans. More and more individuals are able to see the value of living in Denver after visits such as these, and its thanks to these sorts of visits that Denver is booming as a city today. Mile High Stadium’s popularity truly has not wained.

---

The Denver Developer blog highlights landmarks such as the Mile High Stadium in order to show how unique and special our town is. As it expands and the real estate market here grows, let’s keep two eyes on the future, but take a moment to give honor to the past. That’s the purpose of this blog post, and all others like it in the future. If you’re here for real estate info and investment opportunities, be sure to check out the Denver Developer’s upcoming projects via our main page, or contact us here for real estate opportunities available today.

Quick Glance into Denver Real Estate Market For 2020

A new beginning is amongst us as we enter into 2020. We, as a nation, will surely see many changes. We’ll see many challenges and successes. We’ll see new innovative ideas and designs, discoveries and advancements. Researchers will have breakthroughs; artists will have epiphanies. We’ll see changes in the streets, roads, businesses, and neighborhoods. Denver, a decade ago, looked much different than it does now. And we can only predict and expect potential growth. Some experts predict many house markets to crash (such as CNBC); however, Denver stays safe and dependable. The Denver market looks to strike the perfect balance between growth and safety.

How can we expect potential growth? We can’t see the future, but we can evaluate trends, rates, and future development plans to predict future growth. How does one predict and follow real estate markets? All experts and professionals have the specific formulas they stick to, but for the most part, they monitor and watch the same things.

To see the future of an emerging market, you have to look at specific reports and data. Some of those reports are (but not limited to) job creation, population growth, building permits proposed government planning, and more.

Job Growth in Denver

As shown in our previous article, we posted multiple sources confirming the future business and companies moving to the Denver area. More and more tech companies are falling in love with our beautiful mountains, downtown urban lifestyle, and attainability development. Amazon announced once again to add 400 new tech jobs with an office located downtown Denver in 2020; however, this is just one company. Many startups from Silicon Valley and the Bay Area are relocating to Denver.

Population Growth in Denver

The 2010s saw exponential growth in Denver. Before this decade, it stood amidst other similar midwestern cities, not too big, crowded, or coveted. Until a spotlight shone right down on our beautiful urban city. We have space; we have culture; we have something different. Denver’s growth in the 10’s was tremendous. From Elizabeth Garner, Colorado’s state demographer, we know each year around 70,000-80,000 people moved to Colorado this past decade. She believes in 2020, our population will reach 5.8 million.

As years continue to roll and neighborhoods continue to be developed and filled, Denver is on its way to being the central Midwestern metropolitan of the United States.

Neighborhood Growth in Denver

With more Millennials hitting a certain level of stability and careers, more are looking to purchase homes, especially in and around the Denver area. This survey by the Denver Business Journal shows specific neighborhoods booming with residential construction. Since popular neighborhoods are filling up (Lodo, Rino, and Capital Hill), development has just moved to neighboring areas. While more jobs come in, more people come in, which invites the growth and development of new rising Denver neighborhoods.

As this year continues more attainable homes will be in the upcoming neighborhoods. West Colfax, Sunnyside, and DIA will be the next booming neighborhoods; the homes and lots in these areas are estimated to increase in market value.

Denver Real Estate Investment Opportunities

As this new decade begins, investors are looking for the right, strategic areas to earn the highest and best returns.

If you are looking for the right project, look no further than our Sunnyside project. With the upcoming developments in the area (including ours), this growing district prices will continue to rise; as of right now, they are much lower than surrounding areas.

10 Mid-Century Modern Single-Family Homes Project: Coming to the Denver Area

---

The winter months bring a “cooling down effect” for local construction builders, a period of time when production often halts due to severe weather and a slower sales market. It’s in this period we find ourselves today, looking out across the new year, new decade, and new Denver. Preparations have begun for the busy season ahead, and as we huddle on homes and celebrate the holidays, we at DDG think of the future of the Denver neighborhoods and how we can best contribute to their growth over the coming years.

The titular 10 Mid-Century Modern single-family project—brought to fruition by founder Keith Gallegos—is a real estate development project we have currently brewing in the Sunnyside neighborhood. Project completion will see the area (which already has some very competent and nicely-priced singe-families nearby) transformed into ten sleek, charming single-families for buyers moving to the Denver area.

What is a Mid-Century Modern Design?

The design originates from a movement in 1950’s architecture, especially on the American East Coast. Mid-century modern architecture has an almost futuristic look to it. With large windows, an overhanging roof, and open floor plans, mid-century modern homes invoke the warmth of a ranch house while still looking strikingly contemporary. Denver—a rancher city itself in the past—doesn’t actually have too many mid-century modern builds in it, despite the slick design and seemingly local flavor they have. They make great real estate investment products because they leave a great first impression on interested buyers, while also delivering higher profits for investors and validating land value.

What’s neat about a single-family in this design is that they succeed in marrying the feel of an actual home to the design’s state-of-the-art finishes. Single-families are often a buyer’s preference since they offer complete autonomy of the building, whereas a townhome build or condominium consist of multiple dwellings for multiple families within one structure.

A Project of Possibilities

As we discussed in our Sunnyside article, the area has a very warm, neighborly vibe, and having a newly established set of single-families as an alternative to the townhomes and duplexes popping up near Sloan’s Lake gives buyers more robust options. On top of that, the 10 Mid-Century Modern Single-Family Home Project will be set near a local park and church, adding to the neighborhood’s appeal. Denver Development Group is working in tandem with the local church to bring the project to life.

Rendering courtesy of Native Development LLC

Our interpretation of the mid-century modern design will be close to the picture to the right: one-story homes with a spacious interior. More design elements will be revealed as we get closer to starting the project—we hope to continue capturing that feeling of openness (a signature of the Denver plains) in the frontscape of the porch and lawn. The homes will feature full finished basements, as well as open courtyards for entertainment purposes. With the market’s push toward more practicality built into homes, we hope to including modern amenities like smart appliances, theater entertainment set-ups, and rental options for buyers to consider. The architecture will have a multilayered design, with large front windows that also add to the building’s openness and scale. These 10 single-families will line the neighborhood nicely, and could very well be someone’s next dream home.

A Vision for the Next Decade

Site of the future townhome project.

As we move into 2020 and the ensuing decade, Denver Development Group is honing its passion for delivering quality Denver real estate. Right now, the 10 Mid-Century Modern Single-Family Home Project (which we will hopefully rename to something that’s less of a mouthful) is in the concepts phase, and we are looking for partners interested in investment to join us. This is a step toward achieving that vision and shaping the Denver neighborhoods in ways that matter. We do our best to incorporate local flavor in our design, and we offer attainable housing for Denverites who want to keep the free spirit of the city alive. With this and other projects, we hope to bring to Denver’s future familial warmness to the people that inhabit it, in any way we know how. If you’d like to learn more about the 10 Mid-Century Modern Single-Family Home Project and how you can get involved, call us today.

Attainable Homes Coming to West Colfax

---

When looking for acquisitions, Denver Development Group focuses on three main tenants: location, accessibility, and potential. Our recent acquisition 1317 Yates serves as a prime example of each of these.

In the heart of the West Colfax area sits 1317 N. Yates. Street, a barren property as of this writing. Last year, the property belonged to a single-family homeowner who opted to sell due to the increased property values in the area. The original home is pictured to the left. As you can see, there isn’t much to note about it.

So what about it, then, makes it a perfect candidate for acquisition?

Location

Location, location, location. If you’ve spent any time in real estate you’ve heard this phrase—nay, this mantra—at least once or twice. Realities of physical plots of land aside, the idea of “location” may be better served with the word “proximity,” as that gives a better idea of what makes a location valuable. If the property is close in proximity to, say, the Cherry Creek Shopping District, that will be reflected in a higher price. If the property is smack dab in the middle of the Midwest Plains, that will be reflected in a much lower price than the Cherry Creek property.

This may be stating the obvious, but it remains a tried-and-true real estate tenant to this day. Right now, the West Colfax area of Denver is blossoming—since the city installed a lightrail station nearby, its appeal has grown even more. Old homes are being scraped and replaced with modern luxury builds, and new businesses are establishing themselves on Colfax Street. The area was already popular thanks to proximity to highways, downtown, and the Mile High Stadium, and its appeal has only grown.

On top of that, the West Colfax areahas been zoned with less restrictions on innovative building, another quality that developers like DDG absolutely love. This gives 1317 Yates even more value in its location than before, and with the other added benefits, it’s a prime property for Denver real estate investment.

Accessibility

Like the first tenant, accessibility is a key feature for any acquisition to have. We brushed on it briefly, but accessibility refers to the ease of access the property has to main thoroughfares. Having quick and easy access to highways and main streets can optimize a buyer’s life in more ways than one. The West Colfax area has a plethora of options for accessibility, and 1317 Yates reaps the rewards of that.

Of course, Colfax Street itself is an important thoroughfare, and so is the nearby highway I-25. South of Colfax lies 6th Avenue, which shoots straight downtown for ease of access. Plus, when you add the recently-installed lightrail station, the West Colfax area only grows in its appeal.

Potential

Admittedly, “potential” is a bit abstract, especially when it comes to a property with a home on it already. It can be hard to see past what’s right before your eyes and see what could be instead. That’s where Denver Development Group comes in. As local industry with over three decades of experience, if there’s anything Denver Development Group can identify, it’s a property’s potential. With the features we’ve listed already for 1317 Yates, the potential is easy to see—but the potential for what?

Our plan is to take the 1317 Yates property and transform it into a beautiful new double-duplex build. DDG has developed a design that is formatted to specifically realize the potential of properties in West Colfax called the Yin-Yang series. These units are optimized for comfort as well as affordability, which make them an integral addition to the West Colfax neighborhood. Coupled with the area’s growing appeal, that sets 1317 N. Yates Street up with some great potential.

Now? That potential just has to be realized.

---

We at Denver Development Group are constantly looking for investment partners or homebuyers who will work with us to realize their property’s potential. If you’re interested in 1317 Yates or any other opportunities, don’t hesitate to reach out and give us a call.

Denver, Colorado the Next Midwest Hub for Business?

---

Denver is growing. Everyone knows that by now. While more people move here, more businesses do too. But, that’s not the only reason why Denver is going to be the next big place of corporations and business.

The Millennial population growth brings new business.

In 2018, MagnifyMoney released a study of Millennial boomtowns. Right behind San Francisco, Denver takes second in Millennial boomtowns. The labor force of Millennials is at 27.9%. Metro Denver has done studies showing the growth of Millennials. They wrote, “The study, by Development Research Partners, shows that 24 percent of the region’s population base—or nearly 891,500 people—now consists of Millennials.”

More Millennials are finishing school; they’re adults now, joining the workface and creating businesses. As large cities, like New York or San Francisco, are far too expensive for the common Millennial with college debt and freelance work, Denver has proven to be a perfect place for relocation. It has everything Millennials need: outdoor activities, downtown area, progressive thinking, and more affordable.

Corporations and companies are recognizing the central location of Denver, Colorado. They also noticed how easily it can attract creative, innovative Millennials ready for work. Metro Denver – the Economic Development Corporation has the latest in Denver corporation growth.

 List of Companies:

1. VF Corp, the parent company for outdoor brands including The North Face, JanSport, Smartwool, Altra, and Eagle Creek, will move the headquarters of its sixth outdoor company, Icebreaker, to Denver next summer. VF moved its corporate headquarters to Denver last year, bringing its five brands with it. According to the CEO, 800 workers have already been relocated to Denver as a part of the broader move to Denver. The company expects that over 900 employees in total will fill the central office.

2. Snapdocs, a San Francisco-based real estate tech company, is expanding its workforce in Denver after opening its new office. The company could hire as many as 635 workers over the next eight years as they plan “aggressive” expansion. Snapdocs offers a digital platform for lenders, title companies, and borrowers to streamline the loan process in real estate transactions. The company expects to add jobs in the fields of engineering, customer success, sales, and operations in Denver.

3. Partners Group, a Swiss money management firm, opened its U.S. headquarters in Broomfield Interlocken, building a 129,400-square-foot campus from scratch that will be able to hold up to 500 workers. The company employs 220 people in Colorado and hopes to increase its employment base to 450 workers in five years.

4. Sunrun Inc., a national leader in residential solar and storage services, opened its new larger downtown office space and expects to continue to grow its Denver workforce in the coming years. The company currently employs over 700 workers in Denver, a larger workforce than its California headquarter. The company employed 65 people in Colorado in 2015.

5. Ball Corp. proposed an expansion of its Ball Aerospace & Technologies Corp. operations in Broomfield. The proposal could add nearly 137,000 square feet of office and R&D space to the company’s existing 121,000-square-foot R&D operation at 10 Longs Peak Drive. The company is expecting to add 600 aerospace jobs in the next year, with the new jobs spread across all U.S. aerospace facilities, including those in Boulder, Broomfield, and Westminster.” 

---

This was just a snippet of the corporations coming to Denver. The list is only growing. United Airlines has rumors about making Denver International Airport one of their main hubs. It would make sense since Denver International Airport is working on new high-end technology for safer air travel. With these larger projects, DIA alone is bringing in global corporations that are collaborating with the projects.

It’s not secret. The population is booming. As more Millennials move here, more boomers will retire. More businesses and corporations will continue to grow and develop in Denver, which will make it the Midwest Center of Business. The proof is in the numbers.

---

Real estate investments are shifting as well. With the recent crackdown on short-term rentals, it looks like the perfect time to invest instead in corporate rentals. After all, with the large volume of business moving to Colorado’s capital city, corporate rentals will surely rise both in necessity and popularity. Denver Development Group strives to stay on the bleeding edge of market innovation. Corporate rentals are a prime way to get involved in our variety of investment projects. Get involved today.

Sunnyside Neighborhood Expected to Increase in Market Value in 2020

Joshua Gallegos

---

As one of Denver’s original neighborhoods, Sunnyside would not strike you as a “neighborhood on the rise,” especially at first glance. In fact, if you looked at pictures, Sunnyside would give off a very mid-American suburb feel, and with a lower population than some of its sister districts, its sense of quiet can lull anyone into accepting the notion that Sunnyside is the essence of lazy America.

Modern luxury home in Sunnyside

But if you were to take time and really drive through Sunnyside, you might begin to pick up on the signs of a growing district. Not only is the neighborhood quiet and quaint, but it turns out it’s also quite a convenient place to live. With quick access to the I-70 highway, Federal Boulevard, and the I-25 highway via 38th, Sunnyside’s convenience has already been mostly realized. Real estate investment never looked better. Over the last several decades, local denizens and immigrants alike have begun to recognize Sunnyside’s prime location, and that shows in a boost in property value throughout the district, with properties commonly priced at over half a million.

One of the biggest signs, and the source of 2020’s market value increase for the neighborhood, is the upcoming construction of a lightrail station in the area. Sunnyside’s neighboring districts have seen exponential increases in appeal with a lightrail inclusion, and Sunnyside appears to be no different. Already, the economy seems to be poising for a surge. Old taverns and rundown businesses from the old days are being replaced with new eateries, fresh breweries, and other new attractions. The Sunnyside United Neighbors Inc. — a local neighbor’s union — has teamed up with law enforcement to help clean up crime rates in the area, and the benefits are beginning to show. And these are just the beginning steps. Once the lightrail is installed, a surge of businesses is expected in the area. It’s turning into quite the real estate investment opportunity.

Newly renovated building, same ol’ classic Chubby’s

Thanks to the neighborhood’s commitment to its history and feel, Sunnyside will likely handle these increases in appeal well. The suburb feel isn’t going anywhere, and thanks to its rich history, the local Denver flair will prevail. The property is mostly still residential, with large homes and family dwellings in each little cul-de-sac. Its population of about 10K will tell you all about the local restaurants, too, many of which are established legends in the larger Denver area. Landmarks like the Original Chubbys (a Mexican restaurant popular with generations of Denverites) or The Universal (considered one of Denver’s best diners) dot the Sunnyside neighborhood, and really add to its original appeal.

DDG’s Eliot lot acquisition

As a real estate developer, Denver Development Group has carried out most of our housing development work in Sunnyside’s neighboring district Highlands, which has already seen the market value increase thanks to a lightrail station that Sunnyside will be seeing in the near future. With estimates showing good signs into the future for Sunnyside, we at DDG are looking at the area as a crucial real estate investment opportunity. Already, we’ve made an investment acquisition in the area with our Eliot 10 project. We are currently searching for an investment partner to carry the project to fruition. With Sunnyside’s numbers only growing, we hope to see this property developed and on the market in 2020.

---

Denver Development Group is comprised of industry vets looking to make their mark on the communities they love. We work with real estate investors, real estate agents, current or aspiring homeowners, and more. Learn more, and invest today.

Thoughts on a Real Estate Developer's Most Valuable Tool {Long Term Success}

Imagine a man whose fridge has broken. This man, a meticulous type-A who panics at the slightest lack of uniformity, must make sure his cautiously-catalogued fridge items do not spoil. He’s at the end of his wits, calling repairmen across town in desperation to get someone there immediately, so as not to lose his precious eggs. He finally hears a quote he likes, and he hires the crew.

They show up an hour later, equipment in tow. They remove the fridge doors and yank off some paneling, which panics the meticulous man. Forgetting to check himself, he curtly tells the repairmen to be more careful, to which he receives a dirty look. Finally, they discover what’s stopping the fridge’s cooling pump, and fix the faltering equipment. As the crew puts the paneling and doors back together, the meticulous man goes to inspects the work before experiencing a twinge of guilt. Perhaps he had been a bit harsh before. He decides to give them the benefit of the doubt, pays them the service fee, and see them out.

It may come as no surprise to the reader that the meticulous man woke up late that night to a deafening crash, reverberating through the house. The fridge door fell off.

The first thing that ran through the meticulous man’s mind as he observed the broken door was a particular lesson his father taught him: “Inspect What You Expect.”

Every real estate development manual out there should write this rule on the first page. It should be stapled to the framing wall of every new build. Because when it comes to real estate development, whether it be commercial or residential, inspecting what one expects can make the difference between a satisfying construction process and completely blowing the budget. Whether you’re looking to invest in real estate for the first time or you’ve been in development for three decades, if you can hone one skillset, let it be your observation skills. Inspect what you expect.

Money piles up. Large budgets are complicated, and only grow increasingly so over time. Budgets are blown all the time, and a large percentage of projects going overbudget do so because the job wasn’t done right the first time. It’s inevitable that something, at some point, goes wrong, and when it does, the budget takes the hit. But it doesn’t have to—you just have to inspect it well enough the first time.

Now, this goes without saying, but if you’re to inspect anything to any degree at all, you have to know what you expect. That’s where the Denver Developer Blog & Denver Development Group comes in. As investors ourselves with decades of industry experience, we’ve developed a keen eye for small details found in every step of a real estate development project. From instructing engineers on blueprint details to working on-site with professional contractors, every step of the process requires attention—and inspection. Denver Development Group has found that, if project managers or general contractors or real estate investors just take the time to inspect the work—no matter how professional or reassuring or hostile the contractor may seem—it pays off by saving future headaches and stresses.

Take the time, double and triple-check, and your budget will thank you for it. Or hire a great developer.

---

Denver Developer Blog was established to help investors and other individuals interested in real estate development with steps in the process. With this resource, hopefully when you show up on your work site you’ll know just what to expect so you can inspect to the best degree. If you’d like to invest but don’t want to have to deal with all the intensive detail, well, that’s what we’re here for!

The "Yin-Yang" Series Housing Model: How It Helps Shape the Denver Highlands

Word has spread. Denver is a great city to live in. And as Denver natives, the team that forms Denver Development Group strives to constantly improve the communities around them—their communities, the ones they themselves grew up in. The Denver Highlands in particular are blossoming, and the DDG team is committed to improving the area while its population grows.

Enter the Yin-Yang Series Housing Model.

1324-26 Zenobia & 1328-30 Zenobia: Double-Duplex Model

The idea for the Yin-Yang Model was the product of innovative thinking and architectural prowess, pulled together into one coherent vision by Keith Gallegos (founding DDG member). It serves as a beautiful, yet practical double-duplex style family housing model with a timeless design to fit the increasing population & cultural significance of the Denver area. Basically, it’s an innovative way to provide luxurious modern living—at an affordable price—on the Denver market.

The genius in the design comes down to the Yin-Yang’s usage of space. As population increases, so too does the need for careful planning and use of square footage. Properties are only so big, and cities that have burgeoned in the past have suffered from poor planning and use of the space available. In order to maximize the amount of comfort per square footage, the Yin-Yang Model was formed. In addition, the model also increases the property value for an investor (while keeping the cost down for the average American family). In the sweet spot between comfort, affordability, and space, we find the Yin-Yang Model.

Efficient use of space & cost effective

The different units (four in all) are built as single-family households, with all the amenities afforded the modern home. The city of Denver bloomed in the mid-1900’s, when downtown was formed. But it’s the 21st century, and technology is booming. Homes are as new and exciting as the next Apple product, and thanks to Denver Development Group’s commitment to design that stands the test of time, the Yin-Yang Model takes into account this shift toward the future. Smart products fill out the home; modern finishes open up the house like a canvas; HDMI, USB, and other house tech upgrades are built in; and it’s topped off with open balconies and top-floor patios outfitted for cookouts.

Affordability, comfort, and location — the Yin Yang Series, located in the bustling Denver Highlands, is ideal for every phase of real estate. Investors get the most bang for their buck. Developers flex their chops and put together an innovative product. Homeowners make their purchase knowing that they have invested in a high-quality home for their families.

A vision of home

As Denver Development Group works to improve the livelihood and culture of Denver, the team hopes that the Yin-Yang Series of Housing Models helps to shape the Highlands for the better. The word’s out: Denver is a great place to live.

We concur.

---

Denver Development Group is comprised of industry vets looking to make their mark on the communities they love. We work with investors, real estate agents, current or aspiring homeowners, and more.

How can we help today?

Sloan's Lake and its History (A Denver Landmark)

Sloan’s Lake, Denver, CO

It’s 1861. You wake up early to get ready for a day’s work on the farm. First on the agenda is to finish digging the well, so you head that way. Upon digging, you notice something interesting—water trickling near your boot.

This is the sensation Thomas Sloan must’ve felt before cracking into the vast underground water reserves that turned into Sloan’s Lake. Little did he realize that the small trickle near his boot would surge into an almost-200-acre lake near South Golden Road (now Colfax).

Some time later, the area now occasionally referred to as “Sloan’s Leak” burgeoned thanks to the plethora of activities that could be carried out on the large body of water. The area got so popular that an amusement park called Manhattan Beach was established, operating on the lake shores from 1881-1908.

Manhattan Beach Amusement Park

Though the rides were well and fun, Manhattan Beach’s biggest attraction was Roger the Elephant. People from across the Midwest would come to see and ride Roger—that is, until Roger did an oopsie. Regardless, Roger serves as a symbol of Sloan’s Lake’s local influence. In fact, lore claims that Roger is still buried under the old King Soopers site near Sloan’s Lake! Perhaps a developer will find him?

Speaking of developers, Sloan’s Lake is now sitting next to some fairly hot real estate—not including, of course, the real estate projects being developed by Denver Development Group. Its popularity has only continued to boom since the early 1900’s, and though there Roger the Elephant may not be around, there’s still plenty to do and see.

For instance, Sloan’s Lake is home to a plethora of activities, including the watery sort like boating and fishing. Since it’s the biggest lake in Denver sandwiched next to the second biggest park in Denver, Sloan’s Lake is perfect for a casual day out. Its facilities include playgrounds, tennis courts, picnic areas, and of course restrooms and water fountains. They even have a baseball field and soccer field! And in July, the annual Colorado Dragon Boat Festival is held on its waters. Here’s a picture of the race below!

Colorado Dragon Boat Festival

Sloan’s Lake is just a walk away from the burgeoning neighborhoods that Denver Development Group is helping to grow. With a view of both the Rocky Mountains to the West and the Denver downtown skyline to the East, it’s a park worth taking advantage of and really squeezing to get the most of every portion. It’s got a lot to offer.

---

Denver Development Group strives to bring quality development to the local Denver area to help improve its neighborhoods. Be a part of the process today.

Breaking Ground! | 1330 Zenobia

One of our properties has broken ground! This is always an exciting time for a developer. Lots of conversations, changing construction plans, and contracts have to take place before a project is ready to move forward. And up until this point, the property is simply a mere plot of land, potential unrealized. The full picture hasn’t been filled in. But now, in this phase, the idea begins to take physical shape, the same idea that had just taken months to prepare. Soon, the construction will be in full swing, and before you know it, it’ll be on the market. But those months will fly by because the construction process is a time-consuming one. Many hours of blood, sweat, and tears will be put in over the next few months to make that idea a reality, and there’s no getting around that.

The other exciting part of breaking ground is the physical sense of progress that it represents. For a lengthy amount of time, developers are working on something abstract—an idea, perhaps recorded on paper and email, but nonexistent in the physical world. To finally break ground is to give the project a sense of progress that it did not have before. Now, things are moving. This is where it gets good. Getting through of the initial grind is the single most important step. Everything needs to be just right. 

The immediate next steps are also vital ones. Excavation and the pouring of the foundation define a project right from the get go. Thankfully, that’s what regulations, guidelines, and inspections are for. Denver Development Group always makes sure the process is followed to the T, and by doing so ensures a worry-free construction. We take time to make sure everything is done with the best possible quality.   

Regardless, it’s an exciting time for the 1330 Zenobia project. It’s also exciting because this is only one of the many projects that DDG is managing currently, each with unique assets and strategies being employed. Coupled with the strong Denver economy, and it looks like breaking ground is truly only the beginning of an exciting year, both for the Zenobia project and DDG as a whole.

What Do You Do When the Worksite Gets Real? (An Anecdote)

In real estate development, you have got to be prepared for absolutely anything that comes your way. Flexibility and adaptability are vital skills in this industry; when everything goes wrong, being able to adjust can mean the difference between sinking or swimming. 

This simple fact is no better demonstrated than Wednesday, February 20th, 2019. It was on this day that the construction schedule for 1316-18 Perry faltered. 

A construction schedule is incredibly important. There are very specific steps a developer has to take, in sequence, or else it can all quickly get complicated and expensive. Delays in construction happen all the time, and often the schedule is built with this in mind. Sometimes, however, one too many delays leads to a small “crash,” where everything seems to happen all at once instead of nice and spread out like the schedule assumes. This happened on February 20th, and there wasn’t much that anyone could really do about it. 

It’s winter here in Colorado, and if you’ve lived in Colorado for any amount of time, you’ll understand that wintertime in the Purple State can be finicky and unreliable. In some parts of the country, people can sort of scope out their winters and have an established idea of what  weather may be like. Not so in Colorado, even in Denver, its metropolitan capital. It seems as if every day is entirely up in the air—so many seem to start bright and sunny and end windy and snowy. Heavy snowfall will occur out of nowhere, throw off everyone’s plans, then disappear the next day as people prepare for it to last longer. Suffice it to say, the unreliability of Denver weather did not help the construction schedule of 1316 Perry.

Thankfully, Keith Gallegos and Alfonso Lopez had prepared for delays, and the schedule was buoyant with the shifts and changes. But then, it snowed one too many times. Keith and Alfonso didn’t realize things were going to get crazy until that Wednesday morning, as they were in a meeting to discuss production over the next couple of months. Suddenly, Alfonso broke away to take a phone call from the HVAC guys. After hanging up, he quickly turned to Keith and told him that, apparently, the plumber had stopped by and dropped all his supplies off to start a couple days early (since he was scheduled to start by the end of the week). This wouldn’t have been a big deal if Alfonso hadn’t already dealt with a problem earlier between the backfill contractors and the framers. The backfill crew had thrown all the framer’s equipment into the house, and the framers showed up right when the HVAC guys were dropping off all their equipment. The framers at this point were already behind schedule thanks to the weather, and the reshuffling of their own supplies wasn’t helping. Plus, the framers now had to work around the HVAC crew and their equipment as well as the plumbing crew and their equipment. Things were getting very cramped, and the separate groups all fought for space in order to get their work done.  Then, Alfonso got  another call—this time from the window delivery company.  About 50 windows for 1316-18 Perry (the address for these specific duplex builds) were being delivered. And there was nowhere to put them. 

Windows are already a valuable investment, and it doesn’t help that they’re also incredibly fragile. If not timed properly, a window delivery can serve to get in the way big time, since craftsmen have to either work around them or move them constantly to get their job done. And that’s if windows were the only problem facing Alfonso and Keith now. They jumped in the car and immediately drove to the site, and what they found was just about what they expected—near chaos. A large truck had pulled up to the back of the building, and two men were unloading large windows into the house. The seven plumbing guys had their equipment strewn all about while they worked, and the windows were beginning to get in their way. They were also directly in the way of the three-man HVAC crew and their supplies, who were already in the way of the two framers whose supplies had been shuffled around. Just then, the concrete cutting company showed up to take care of coring in the foundation. 

The schedule had glitched out.

Thankfully, Keith and Alfonso are professionals. They rolled up their sleeves and immediately got to work, giving instructions to the HVAC crew and window guys while reassuring the framers. Alfonso helped move windows to a location that was out of the way while Keith went  over inventory with the window company. After, Alfonso worked with the plumbers while Keith walked through the basement with the concrete coring company. All the while, the two didn’t lose their cool and made sure the construction process went according to plan. After a couple hours of coordinating and getting their hands dirty, they had fixed the glitch, and the project began humming away on schedule again. They had averted a potential disaster, and were able to smooth over tensions and protect their materials they had paid so much for. The job was back on track.

Moments like these happen constantly in the development business; it’s these moments that make or break a build’s profitability. Unforeseen circumstances can cause big hits on the budget. By being in constant communication, problem solving, and knowing the process in and out, Keith and Alfonso were able to steer the project on track and keep themselves from taking a big financial hit. All it takes is hard work, flexibility, and a bit of ingenuity.