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5280 – Savvy buyers will take chances on Denver’s next-big-thing neighborhoods—and cash in, if they choose correctly.

5280 – Savvy buyers will take chances on Denver’s next-big-thing neighborhoods—and cash in, if they choose correctly.

Savvy buyers will take chances on Denver’s next-big-thing neighborhoods—and cash in, if they choose correctly.

Forget Wash Park and Highland. And honestly, Sloan’s Lake, Baker, and Berkeley aren’t really up-and-coming anymore either. (Pssst: They’ve already arrived.) That doesn’t mean, however, that the next “it” Denver ’hood isn’t out there. We polled nearly a dozen real estate experts to find out where they’d consider taking calculated risks—and why.

Neighborhood: West Colfax
Current vibe: Centered on its namesake artery, West Colfax is bustling but dated in a rundown-motel kind of way, with pockets of artistic revitalization.
Transformative factors:

  • Community investment in projects like a redesign of the dangerous interchange at West Colfax Avenue and Federal Boulevard
  • Spillover development from the amenity boom in adjacent Sloan’s Lake (Alamo Drafthouse Cinema and Tap & Burger Sloan’s Lake, for example)

Look for: Recently constructed townhomes starting in the $400,000s
Caveat: Thanks to an amendment that restricted slot home designs (see Prediction 4), inventory may dip while developers literally go back to their drawing boards.

Neighborhood: Sun Valley
Current vibe: Industrial lots coexist with mainly public housing, and the area is isolated from most city amenities by waterways and poorly planned thoroughfares.
Transformative factors:

  • A $376 million public housing redevelopment plan that will raze 333 subsidized housing units and replace them with 750 new mixed-income units, including moderate-income and market-rate homes, by the end of 2024
  • A master plan to overhaul the parking lots surrounding Broncos Stadium at Mile High into a walkable urban entertainment district
  • The ambitious, estimated 20-year RiverMile project that would create a bustling waterfront enclave along the South Platte River

Look for: New-build multifamily residences (prices are TBD as Sun Valley is an untested market for new construction)
Caveat: Construction chaos will play out in this historically low-income neighborhood for years, as will passionate debates about the ramifications of resident displacement.

 

Photo courtesy of Will Strathman.

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