Condo Legislation Killed in Procedural Move

For those who were watching the progress on the new construction defect and Home Ownership Bills that were put before the State Judiciary Committee the outcome is easy to report.  Nothing will be happening.  According to the Denver Post article “Procedural move kills last of three Colorado construction-defects bills” the bill got squashed.   We aren’t here to debate whether this was the right bill or not to help encourage condo development.  Perhaps a better bill is yet to be written, one that can make both sides of this debate.  But what is disappointing is the news that whatever seems to be stalling the construction of new high rise projects from breaking ground may continue for months or years.

Benefit of New Projects

New Condo Projects are great!  They are great opportunities for buyers in a strong market, which is what we see in Denver right now.  For example when SPIRE and Glass House first came on the market buyers could put a one bedroom condo under contract for as low as $150K.

There are several factors that work to create such attractive pricing.  Often the Developer is motivated to get a certain number of units under contract (usually 30% of the building) so they price some of the lower floors and smaller residences more aggressively.

Plus, buyers are being asked to buy off of floor plans and renderings with a construction completion date that may be years down the road.  For that risk factor Buyers also often see a discount in pricing.  This is part of the reason the first to make that leap of faith in a project can often have a lower price offering.  Developers often raise prices as they move through the sales at certain benchmarks, such as the 30%, 50% or 70% milestones.

Why are developers motivated to reach these milestones?  It is because they often have certain requirements with their lenders and investors.  Hitting such requirements can often be buying opportunities our team helps to identify.

But all of this is academic if new condo developers don’t build a new high rise project.  Recent legislation was put on the books in an attempt to try and create a marketplace that encourages development.   Now we aren’t lawyers or legislators so while I am sure there are many pro and con points about the proposed Homeownership Opportunity Act SB 14-220 we discussed here, the end result was that it did not get passed.

And the topic for today is how will this affect the market over the next few years.

How will this affect the market

No one has a crystal ball to predict the future.  Supply and demand would probably predict that getting into a high rise building with amenities such as SPIRE, Glass House, or ONE Lincoln might get more competitive.  These units are already so popular, with swimming pools, fitness centers, movie theaters and more part of your home ownership benefit.  Prices have already been going up, days on market going down, and the Denver Urban team’s job never stops in staying current and up to date on inventory to help our clients get the best opportunities with new listings.

Denver is still growing, and that is the Demand side of the equation.  Without at supply side increase these units will likely stay among the most desirable and sought after.  This might also continue the fast paced development of mid rise, townhome, and single family home projects.

According to the Denver Post article quoted above

“Condos represent only 2 percent of the new housing mix in metro Denver, versus 20 percent in other areas. When California shifted from a litigation to an arbitration model of dispute resolution, it saw condo construction rebounded from similarly low levels, backers argued.”

Read more: Procedural move kills last of three Colorado construction-defects bills – The Denver Post https://www.denverpost.com/business/ci_25707252/procedural-move-kills-last-three-colorado-construction-defects#ixzz31iQVIZML
Read The Denver Post’s Terms of Use of its content: https://www.denverpost.com/termsofuse
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2 percent is a drop in the bucket compared to the number of folks who are seeking the amenity rich lifestyle these Denver Urban buildings offer.  At some point market demand may create a large enough incentive to draw Developers back into the new construction process for a new high rise project.  Keep in mind that even once that decision is made it could be years before a project goes through design, approval, construction and sales.

Might be a good time to do a walk through of the existing inventory at the existing amazing high rises our great city has today.

Helpful Links

• Glass House Denver Listings
• SPIRE Denver Listings
• High Rise Condo Buildings
• All Buildings
• Trending Buildings

Get more information about existing Denver High Rise Inventory

The post New Condo Legislation Was Squashed and How it Might Affect the Market appeared first on Denver Urban Living.

As you may have been able to tell, I enjoy living car free. Sure, I know it’s good for the environment. I know I leave a small carbon footprint, use less resources, and the world is a better place because of it.s you may have been able to tell, I enjoy living car free. Sure, I know it’s good for the environment. I know I leave a small carbon footprint, use less resources, and the world is a better place because of it.

That may be all well and good, but I also do it because I LOVE it. After doing a nearly $100 fill up at the pump, spending far too much timeThat may be all well and good, but I also do it because I LOVE it. First here are the reasons I love it.

• My last fill up at the pump was almost $100 for my car.  My last fill up for my scooter was $2.  My last fill up for my bike was lunch at Sushi Sasa.  I pick the latter two.
• People are downright crazy on the roads.  My last drive was like some post Armageddon Mad Max journey… and I was just going to Wash Park.
• When I ride public transportation I read, I write, I observe the world.  Biking, Scooting, Walking are all ways to get outside, get some fresh air, and it’s fun.  Traffic jams in a car… UGH.
• I don’t deal with parking.  Sure I have to find a bike rack or a very small spot for a scooter sometimes.. but nothing like when I drove.  And of course light rail means NO PARKING.
• I live more locally and enjoy my neighborhood.  From restaurants to farmers markets I am learning all the great specials, events, and activities in my own back yard.  I really love where I live and getting around by bike and by foot puts me more in the moment for where I am.  Of course it helps that Denver is a great city.

Being a fan of living car optional may have directed some of the construction of our DenverUrban.com website.  It was built to calculate how close each property is to the things homeowners want to know about.  The site calculates the closest restaurants, bistros, dog parks, and more.  We don’t rely on an automated feed, but enter these features individually so we can try to provide really valuable content for our clients.

Light rail factored into this a great deal.  Every property has information about the closest 5 light rail stations.  In addition, for those who are seeking a light rail friendly home, we created a light rail based search.  As transit oriented development becomes more popular we want there to be tools to help in that search.

And today I asked the question.. how much of the available Denver inventory is Light Rail Friendly.  Since we already have the database I created a new page called the Denver Light Rail Report.  This measures how many properties are within 500 Feet (what I called Super Duper Light Rail Friendly)  or up to a mile from a light rail station.  This report is now a web page you can visit anytime for real time info.

As of this blog here are the statistics for today’s Denver Inventory.

Total Active Properties: 9,960
Light Rail Friendly Properties (within 1 mile of a station): 1,020 – 10.24%

Of those Properties within 1 mile of a light rail station, here is how they break out in what we like to call our Light Rail Friendly Report.

SUPER DUPER FRIENDLY: Within 500 Feet: 48 Properties 0.48%
SUPER FRIENDLY: Within 1/4 Mile: 182 Properties 1.83%
VERY FRIENDLY: Within 1/2 Mile: 500 Properties 5.02%
FRIENDLY: Within 3/4 Mile: 773 Properties 7.76%
CONVENIENT: Within 1 Mile: 1020 Properties 10.24%

This is pretty amazing if you think about it.  over 10% of all the listings in the Denver MLS are within one mile of a light rail station.  WOW!  I seriously doubt most people realize they could be commuting by light rail so easily.  Once I realized this I quickly modified our property detail pages so now any property that is within a mile of a light rail station will have a flag on it in the property details.  Pretty cool huh?

For those who want to stay updated via social media we created Light Rail Twitter and Facebook feeds for you to stay updated.  These accounts will track new light rail friendly listings PLUS news and updates from RTD or local news channels about our growing Light Rail System.

Best of all is our Light Rail Map based search.  Check it out and pick any station and then see the closest available homes.  Good luck with your car free lifestyle search and feel free to contact us at info@denverurban.net with any questions or to schedule a showing.

Enjoy!

The post Denver is VERY Light Rail Friendly appeared first on Denver Urban Living.

Denver’s Art World is growing. From the First Friday Art Walks along Santa Fe and Tennyson to the thriving Theater District that helped provide the cornerstone for high rise buildings such as SPIRE and The Four Seasons Denver is growing up.

For example, when I took my first Improv class at the Bovine Metropolis years and years ago I found it increasingly difficult to progress to levels 3, 4, and 5.  There simply weren’t enough fellow Improv and Comedy lovers to sustain the classes.

This ultimately contributed to my love affair with the Second City in Chicago and a routine of early morning flights from DIA to Chicago for classes at the church of Improv and Comedy Writing.  Ah.. those were the days.

Today however, the Bovine Metropolis is thriving.  Students fill up classes and great Improv teams fill the theater night after night.  The density of Denver has increased.  Each new building, each new condo development, each new Urban townhome project in LoHi has increased the number of individuals living downtown.

The light rail expansion, connecting stop after stop in a web from the core at Union Station has made getting in to the Downtown easier than ever.

More people has also bolstered the growth of the arts, with more artists and more audience of the arts to help it thrive.

Awesome!

Now back to the topic at hand and an announcement to my fellow writers, artists, and performers…

The Book of Mormon is doing auditions in Denver.  Yes, I am totally serious.  Here are the details and if you do get an audition break a leg!

THE BOOK OF MORMON will be coming to Denver to hold auditions February 11^th by appointment only. We are looking to build our files for future replacements for all three companies (Broadway, 1^st National Tour, Jumamosi Tour) for the roles of ARNOLD CUNNINGHAM, KEVIN PRICE, NABALUGI and ELDER MCKINLEY etc. (See role descriptions below.) We realize that the area has some fantastic musical and comedy talent, and even though we have some appointments already scheduled we want to make sure that we are not missing anyone, and felt that it is important to reach out to the local theatres, universities and improv groups to make sure no one is robbed of the opportunity to submit themselves for consideration.  We appreciate you passing this on to anyone you feel might be right.  Or if you have an email list, doing a blast to make actors aware.  I am also attaching this info as a PDF flyer if you would like to post it anywhere.

 

Anyone interested in auditioning for any or all of these companies should submit a picture and resume and any additional materials to jrichcasting@gmail.com  by 5PM Saturday, February 9^th 2013.  Please make sure you put the City Name of the audition in the subject line.  Due to the amount of emails we receive, we may not be able to respond to every submission.  Please note that submitting does not guarantee an appointment.  Both Equity and Non Equity should submit.

 

SHOW INFO:

Producer: Anne Garefino & Scott Rudin

Director: Trey Parker & Casey Nicholaw

Book, Music & Lyrics: Robert Lopez, Matt Stone & Trey Parker

Music Supervisor: Stephen Oremus

Choreographer: Casey Nicholaw

Sacramento Casting Director: Jeremy Rich

Casting Director: Carrie Gardner

 

ARNOLD CUNNINGHAM (Early 20’s-Late 20’s to play 18): Caucasian. Seeking a true character actor. Must be a physical contrast to the other good looking, All-American Mormons. Dweeby, dorky, nerdy, overweight, or all four combined. Arnold is a pathological liar but his heart is in the right place. He is a total screw-up but not for lack of trying, he always wants to do the right thing. Must be fantastic comedic actor who sings well. Tenor. We are also particularly interested in comics who sing.

 

KEVIN PRICE (Early 20’s-Late 20’s to play 18): Caucasian. All-American. Very handsome. Head of the class, always optimistic. Heroic Mormon. Must be a great comedic actor and a fantastic pop-rock high tenor to a B. Should be at least 5’10 or taller.

 

NABALUNGI (18- Late 20’s to play 20): Black African. Pretty. Takes the hardships of her village very seriously and wants to help her people find a better life. Must have great comic timing. Strong Alto. Belt to an E.

 

ELDER MCKINLEY (early 20’s to late 20’s to play 18): Caucasian. District leader of the Mormon missionaries in Uganda. All- American, wide-eyed and hopeful. Often struggles to cover his flamboyant tendencies and adhere to his Mormon morals. Must be a fantastic comedic actor and great singer. High Baritone who can pop out high Bb’s for comedic effect.

 

[MAFALA HATIMBI] (40’s): Black African. Father of Nabalungi. Has come to accept the hardships in the village where they live but is a discerning community leader and tries to bring joy to their lives. Must be a great comedic actor and singer. Also interested in actors who sing.

 

PRICE’S DAD/MISSION PRESIDENT/VARIOUS ROLES) (40’s): Caucasian. All-American good looks and physique. Plays several parts from the perfect picture of a head of a Mormon household, to the stern missionary president, to Joseph Smith, so must have the ability to be transformative. Must be a great comedic actor and good singer. High Baritone to an Ab.

[GENERAL] (Late 20’s to Late 30’s): Black African. The general is a warlord in Uganda who is terrorizing the local villagers. A physically threatening and intimidating figure who is a great comedic actor and singer. Baritone to an F.

 

[FEMALE AFRICAN VILLAGERS] Late 20’s to late 30’s.  Black African. Seeking great comedic actresses with excellent singing voices.  Seeking Altos, Gospel Sopranos and Gospel Belters of all physical types.

 

The post Denver Auditions for The Book of Mormon appeared first on Denver Urban Living.

For those who don’t know, one of our creative team members (Mike) writes, acts and does improv at the Bovine Metropolis following his creative pursuits at Second City in Chicago and Los Angeles.  His colleagues are competing in their next show “Denver’s Next Improv Star” and asked him if our team would sponsor a Video Shoot for their entry.  He said they are AWESOME comedic performers and the world deserves to see their talent.  If we do this… look for their videos on our YouTube channel and go vote and support them.

Mike loves comedy and has us persuaded to help out but we want to hear from you in support of us doing a video shoot donation for these talented comedic performers.  If you comment enough to tell us yes… we will do it!

Denver’s Next Improv Star is the ultimate comedy showcase of Denver and you certainly should not miss it.  It is a comedy performance version of the Hunger Games where the best Improv Performers in Denver are pitted against each other to find the ultimate funny performer.

The Irony…Improv Performers don’t work against each other but instead with each other.  It as about saying “Yes And” to their partner.   It is a beautiful thing.  So you are really evaluating the most friendly, comedic, and inspirational “Yes And” person in the world.  We way that because Denver is the center of the world.  You get to weigh in, the judges weigh in, and nobody dies (Because in the Hunger Games someone dies…who really wants that).  For those of you who love comedy just wait until you get to see random audience suggestions drive the competition for ultimate Improv master.

Denver’s top Improv Theater is located in the heart of the Theater District in Central Downtown Denver where local residents of SPIRE, the Four Seasons, and other downtown Denver condos get to enjoy a short walk for their comedy fix.  To learn more about why living downtown is so great please feel free to contact anyone at New Era Realty.

The post Denver’s Next Improv Star appeared first on Denver Urban Living.

It is Halloween weekend and as many of you head off to check out the amazing 13th Floor and The Asylum Haunted Houses put on by getscared.com we just wanted to share our monster red carpet interviews.

See, they are just cute and misunderstood monsters. Happy Halloween from New Era!

To learn more about real estate in Denver please contact us at info@denverurban.net.

The post Monster Interviews at Denver’s Asylum and 13th Floor appeared first on Denver Urban Living.

We know how much we love our own dogs, and Denver is certainly a dog friendly city to live in. Here is our video from the Chatfield Reservoir dog park for you to get a sample of one place your dog can have a great time.

The post Chatfield Dog Park Video appeared first on Denver Urban Living.

Be in a Zombie Comedy

That’s right… Zombies are heading to Denver this Saturday October 20th for the largest Zombie gathering in the country. Put on your best zombie face, guts, and missing limbs for what we consider one of the funnest events of the year.

The place is the 16th street mall. The time is all afternoon and into the evening. You can choose to get all costumed up and join the fun or grab yourself a seat at any of the great downtown Denver restaurants for your own front row view.

And by the way… there is a casting call going on for zombies at theurbanbrain.com… a planned 2013 Zombie Film taking place right here in Downtown Denver, perhaps Riverfront Park.

Bwa ha ha…. BRAINS!

By the way… keep on the lookout for a roving team of filmmakers/photographer/video bloggers from Urban Brain at the Zombie Crawl. You just might be a star.

The post Denver Zombie Crawl is this coming Saturday appeared first on Denver Urban Living.

Welcome to the new Denver Urban Blog!  From restaurant openings to zombie crawls, from dog parks to light rail station openings, from historic denver loft renovations to glass walled sky rises… we will cover it all.

More coming soon and you can visit our main site at DenverUrban.com.

The post Welcome to our New Blog appeared first on Denver Urban Living.