Denver’s ‘pent-up demand’ for condos evident in LoHi and Beyond
Denver is growing up — literally and figuratively. As Denver Business Journal reporter Andrew Dodson spotlights this month through a well-written expose, new condo projects have been popping up in urban neighborhoods since the 2017 Construction Defect Law passed. This transformative law cleared the path for 30+ unit projects to take root, and these condos have sprouted up and are flourishing in all corners of the Mile High City.
Including the condo boom apparent in LoHi, take Lighthouse on 29th + Zuni Streets, one of the luxury condominium projects predominately highlighted in the article. Developed by Urban Green Development, Lighthouse is comprised of 46, high-end units, and retail space designed with a focus on sustainability. The project is striving for LEED Platinum Certification. Incorporating sustainable features—such as energy-efficient appliances, solar power, above-grade insulation + windows—are components expected to draw buyers according to milehimodern’s very own Rachel Gallegos, who is the broker for the project. As Gallegos points out, seven units are already under contract, and they haven’t even officially hit the market yet. So who are preemptively swooping in on these cool contemporary eco condos?
“I’ve taken a lot of calls from out-of-state buyers mostly coming from California who want to live here because it’s too expensive where they are at, or they’re coming here with the tech industry,” Gallegos said.
Gallegos adds to that point that LoHi—a neighborhood juxtaposed right next to downtown—has all of the city amenities without the same level of hustle and bustle.
As for the future of Denver’s sprawling skyline, expect continued growth.
Gallegos said, “Denver is still growing up, and a lot of big corporations are coming here, so it’s going to take a little bit, but I expect more expansion.”