Building is Booming in LoDo
Excerpts from the Denver Post Monday October 1, 2007
No Stopping This Builder by Margaret Jackson
Developer Charlie Woolley is building on the success of his previous developments in Denver’s Ballpark neighborhood with a townhouse project, Chroma, at 25th and Larimer Streets.
In a slumping housing market some might wonder why Woolley would start a project now. But Chroma’s downtown location so far appears immune from the suffering felt in the suburbs. “There’s an overall movement to the city center, both here and nationally,” Woolley said. “It’s because they’re smaller households, an aging population and young childless households.”
Sales of nearby projects have done well. Developer Brent Snyder has presold four of the 11 townhomes he’s building at 24th Street and Glenarm Place. He’s also sold 23 of the 101 condos he plans to start construction on in December.
“Most of our buyers are coming from downtown, some from rental buildings or other loft buildings but want more space,” Said Bill Verdon a broker with Kentwood City Properties who is marketing the Welton Street Project.
Snyder expects the sales of the townhomes to pick up when they are finished in November and December. “There are buyers out there, but they want to see what they’re going to get,” he said.
Live Green=Buy Green=Be Green
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