Developments of condos in Denver metro area makes a cautious comeback as developers navigate the minefield of construction-defect laws. Spire was the last large scale condo development which was built in 2007-2008. Since then, there haven’t been any large scale developments expect for smaller townhomes projects. Spire sold their remaining 75 condos last year which reduced the inventory of condos to only 61 in December 2014 in downtown, or less than 2 months of inventory if current absorption maintains.
Since the announcement of 250 Columbine, a mix used development of 71 condos, 90,000 square feet of office and 30,000 square feet of retail which is under construction there haven’t been any new developments until now. 250 Columbine’s office and retail portion is expected to be completed by the late first quarter of 2015, and the condominium residences will be completed in the early summer of 2015.
Below are proposed condo projects:
- East/West Partners is planning the development of a 19 story luxury condominium building at 17th and Wewatta Streets in the Union Station neighborhood. The Coloradan will include some ground floor retail adjacent to 17th Street, three floors of structured parking and amenities on the 4th floor. Construction is proposed to start in 2015, with completion in 2017.
- LaSalle Colorado, a 12-story, 151-unit condominium at Huron St. (Ballpark area)
- Backyard on Blake by Invent Development Partners (between 30th and 31st Streets) comprising 14 townhomes.
- Drivetrain by Tom and Brooke Gordon at 31st Street and Brighton Boulevard to include 100 condos and 23 townhomes.
A total of 404 condos and townhomes were sold in 2014 in downtown, slightly up from 2013. The total dollar volume was $197,586,000 while average sold price was $505,079.
