Denver’s real estate market is hot right now

Denver’s real estate market is hot right now

Denver's real estate market is hot right now
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There’s no better time than right now to invest in — or live in — Denver, which just topped a new list of U.S. News & World Report’s “Best Places to Live” among metro areas in the United States. 

The new rankings, released in March, listed Denver as the No. 1 place to live in the nation. Denver scored a 7.8 out of 10 based on desirability, value, the job market, a high quality of life and net migration.

“Its citizens have evolved from gun-slinging gamblers into an easygoing crowd of ambitious, progressive-minded fitness fanatics and nature lovers who are eager to push the envelope on everything from civil rights to drug laws,” U.S. News said in its report.

Denver has been getting a lot of high marks lately, including: 

  • Denver was ranked “Fastest Growing Economy” by Business Insider, 2014.
  • Denver Ranked No. 6 among Forbes’ “Fastest-Growing Cities.” 
  • Denver Ranks No. 6 in the top 20 U.S. real estate markets, according to Emerging Trends, a publication sponsored by the Urban Land Institute and Price Waterhouse Coopers. 

All this good news helps fuel Denver’s hot real estate market, with more developers seeking to build in a city where people flock to live and work. Economic forecasts show that the single-family housing market is expected to remain strong this year due to a robust local economy and available capital. And, forecasts also show that the Denver apartment market will perform well this year too as demand for rentals remains strong and prices to buy go up.

According to the S&P/Case-Shiller Home Price Indices, the metro Denver area led the nation for the highest rate of home price appreciation for half of 2015.

“Investor demand for apartments appears virtually insatiable,” according to Marcus & Millichap, the nation’s largest firm specializing in commercial real estate investment sales, financing, research and advisory services. “We believe that the expected increase in demand for apartments presents attractive near-term and longer-term investment opportunities in the multifamily sector, including existing apartment buildings and new ‘to be built’ properties.”

It’s good timing for Colorado folks looking for a solid business investment in Denver. Allante Properties, LLC, which has a proven track record of successful development, is now seeking investors for its newest development called Emerson Place, a five-story, 85-unit apartment complex in Uptown, near Park Avenue and Emerson. 

Residents will enjoy great views from the upper floors and rooftop sky deck of downtown Denver and the Rocky Mountains. Other amenities will include private underground parking, clubrooms with a fitness center, kitchen, sitting area with TV and a fireplace, and attractive landscaping.

Emerson Place also brings a hip urban lifestyle of fun and convenience to residents – especially Millennials — as the building will be located just a block away from the 17th Avenue restaurants and night life and less than two blocks from Marzyk’s, a high-end specialty grocery store. The neighborhood has many shops and specialty restaurants and is near access to downtown Denver, where jobs, nightlife, bars, shopping, malls and transportation options are plentiful. 

“Apartment demand shows lots of momentum near the city core, spurred by the favorable demographics of ages 20-35,” said Darell Schmidt, Managing Partner with Allante Properties in Denver, on http://www.allanteproperties.com

“It’s creating huge demand for apartments close to shops, restaurants and offices with public transportation nearby. They prefer a walkable area and are far less likely than older groups to buy their own homes, favoring to rent apartments instead,” said Schmidt, who focuses on development in his hometown of Denver.

With nearly 2.9 million people, Denver has a growth rate that has consistently outpaced the national rate every decade since the 1930s and the population is projected to increase to over 3.2 million by 2020, with many highly educated millennials moving to the city. This has increased investor demand for apartments, according to Allante Properties.

Construction on Emerson Place is expected to start in November 2016 with completion 15 months later, followed by leasing. Once built, Allante Properties will manage Emerson Place to produce rental income. Each investment is projected to deliver a high average annual return over a 7-year hold period. Emerson Place seeks to raise $8 million in equity limited to accredited investors only. The $8 million will represent about 38 percent of project costs. The minimum investment is $25,000. Cash, IRA, and 401(k) funds are accepted.

Investors can feel secure with Allante Properties, a real estate investment and development company headquartered in Denver. Co-sponsor Darell Schmidt, Managing Partner with Allante Properties in Denver, has designed, built and managed real estate developments for both sale and lease totaling over $800 million since 1982. 

For more information, click here.

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