A growing trend is emerging all over the United States and is equally apparent in Denver. Individuals and families weary of long commutes, continual maintenance and suburban sprawl are moving back to the city. Nowhere is this more evident than in downtown Denver as a quick glance towards the skyline reveals multiple large cranes and unmistakable indications of a construction boom.
The Migration has Begun
The interesting fact is that this migration is not just the twenty somethings looking for excitement inherent in urban living. While there are plenty of young professional moving downtown, there are also seasoned executives who want to be close to work and families that want to spend more time together and take advantage of the many family friendly venues. In addition, a number of baby boomers are heading back to the city looking for a place to enjoy retirement without having to drive all over the metro.
The business community is paying attention. Large corporations are closing suburban headquarters and moving downtown. Restaurants, nightclubs and corner grocery stores are popping up offering a large variety of cuisines and options. It is hard to say what came first, the businesses or the people but it is certainly obvious they are both here to stay.
Downtown Denver Construction is Booming
The DenverInfill blog [https://denverinfill.com/blog/2012/11/downtown-denver-residential-boom-continues.html] reports that downtown construction is increasing and will continue. Since 2012, 2,982 residential units have been completed in the downtown area and currently an additional 4,406 units are under construction. The Highlands and LoDo are experiencing some of the greatest building activity as the urban area becomes a draw for people of all ages and backgrounds looking for alternatives to commuting and entertainment. Currently, 2,952 more multi-family units are proposed for construction.
Denver is also luring people for all over the country. With a low unemployment rate of 5.8% in November, 2013, close proximity to the Rocky Mountains and three professional sports stadiums in the downtown area, the metro is a highly sought area in the U.S. Like many other large cities in the country, downtown revitalization draws both companies and urban residents.
Find Your Dream Downtown
For many the lure of a home where the lawn never has to be mowed, maintenance is minimal and snow is not a concern is a huge selling point. Others look for the enormous entertainment and art opportunities in the downtown core. Whatever the reason, it is evident urban living is becoming more popular. As demand grows pricing will increase and now is a great time to invest. For more information on new construction and current available units, please contact us at 303-522-7746. As demand grows pricing will increase so now is a great time to invest. We look forward to speaking with you.
