Real Estate Blog

East Sacramento would get a smidgen of denser living, with a proposal for two floors of apartments added to an existing office building near Folsom Boulevard.

Commercial, retail and hospitality growth in the Buckhead area is fueling buyers' desire to own quality residential property in the area.

When discussing what attracted the fast-growing workplace messaging platform to Denver, Slack Technologies executives on Monday pointed to many of the same factors other tech companies point to when they set up shop in the Mile High City.

The city has a highly educated workforce, a high quality of life and a cost of living that’s reasonable compared to off-the-charts Silicon Valley. Investments in infrastructure over the last 15 years mean that Slack’s office — taking up the sixth and seventh floors of the building at 1681 Chestnut Place near Union Station — is walking distance to local and regional rail and bus lines, providing access to an even deeper pool of talent.

But Ali Rayl, the company’s vice president of customer experience, hit on something else that made Denver stand out for the company, an attribute that worked against the city in its efforts to lure Amazon’s HQ2: its middle-of-the-country geography.

“Denver itself is just perfectly located for us,” Rayl said specifical..

Retail giant Amazon and the nation’s largest real estate brokerage group, Realogy, are partnering to win over homebuyers in metro Denver and 14 other large cities by providing them with up to $5,000 in products and services.

Under a new program called Turnkey, Amazon connects consumers filling out a form on its website with vetted agents working under one of the Realogy brands. Those include Coldwell Banker, Century 21, Sotheby’s International Realty, and Better Homes and Gardens Real Estate, among others.

After buyers close a sale, they receive an Amazon credit ranging from $1,000 to $5,000, depending on the purchase price of the home. The rebate includes smart-home products from Amazon, like the Ring Doorbell II, along with $450 to $1,000 to use with Amazon Home Services.

Amazon Turnkey screenshotTurnkey is designed to help buyers with the steps that come next after a sale closes, said Eric Chesin, a senior vice president with Realogy.

“The closing is just the beginning of a way ..

Greeley-based Mineral Resources Inc. has agreed to pay more than $200,000 to resolve allegations that it extracted federally owned minerals in Weld County without the necessary permits and leases from the government.

The U.S. Attorney’s Office for Colorado announced on Wednesday that the company didn’t obtain a permit from the U.S. Bureau of Land Management before it drilled for oil and gas in a railroad right-of-way north of Greeley in 2012, where the underground deposits were owned by the federal government.

The U.S. Attorney’s Office said while investigators launched a mineral trespass investigation against Mineral Resources, they didn’t determine that the trespass “was willful.”

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Tom’s Diner, the eye-catching restaurant that has stood at the corner of Colfax Avenue and Pearl Street for more than 50 years, took another step toward becoming a historic landmark Tuesday when the Denver Landmark Preservation Commission voted unanimously to recommend its protection to the City Council.

The 24-hour Colfax haunt appeared destined for demolition earlier this year when owner and diner namesake Tom Messina reached a conditional agreement to sell it to a Greenwood Village developer that had plans to build an eight-story apartment building there. The sale price was set at $4.8 million.

Then, in June, five community members submitted an application to landmark the building. Their application, submitted against Messina’s wishes, had the backing of 670 petition signatures and support from Historic Denver.

City staff members found the property met preservation criteria for its historic, architectural and geographic significance. A former White Spot diner location, the buildi..

On a burning-hot July day, Tom and Cassandra Chavez stood outside the 1947 two-bedroom cottage they have nearly finished renovating.

Their family bought the home in January for $250,000 as a fix-and-flip — joining a growing crew of new investors in East Colfax, a neighborhood at Denver’s far eastern edge. But things weren’t working out just yet.

Kathryn Scott, Special to The Denver PostTom and Cassandra Chavez purchased a home off East Colfax Ave. that they continue to renovate on July 20, 2019 in Denver. The couple hopes to sell the home.Despite extensive renovations, the property wasn’t selling at their $325,000 list price. They got bites, until people looked down the block to Colfax — a screaming-fast stretch of pavement that is Denver’s most notorious, whether it’s for unsafe traffic or crime.

“The feedback we’ve gotten from all the lookers is, ‘It’s just too close to Colfax,'” Tom Chavez said.

Now the family is considering a far different move: Tom and Cassandra might jus..

The company leading development of Lone Tree’s RidgeGate neighborhood has selected Shea Homes to head up construction of a forthcoming 1,800-home subdivision there.

Earlier this year, Coventry Development Corp. laid out high-level plans for RidgeGate’s growth as it expands into largely undeveloped space on the east side of Interstate 25. The expansion could bring 10,000 new residential units to Lone Tree and double the population of the northern Douglas County city. Those plans called for three residential “villages.”

Shea will now serve as the master homebuilder for the first of the those, the “Southwest Village,” per a news release from Coventry this week. The project is expected to provide a variety of home types and prices, the release said.

Infrastructure work on the village is expected to begin early next year with the first homes being delivered in mid-2021. RidgeGate is now served by a trio of new light rail stops that opened in May.

“We see this as an opportunity to use ou..

Mary C. RaeMary C. Rae, a Denver real estate agent who saved many of Capitol Hill’s historic mansions from tear-down during the boom years of the 1970s and early 1980s, died July 21. She was 79.

Rae became a crusader for historic and architecturally distinctive homes built in the 1870s and 1880s that were threatened by the wrecking ball as developers began returning to urban Denver neighborhoods a century later. She is credited with developing a trend toward renovating and restoring aging mansions, many of which had been subdivided into rooming houses as those areas aged, and were likely candidates for tear-down.

“Mary could not bear to see the destruction of those fine old homes, and she effected the conversion of many of them to become remodeled residences or offices, or secured financing to move them to new locations,” recalled Broker Rhonda Knop with Distinctive Properties, who had joined Rae in forming her company in 1975.

“She was very much the same force for restoration and p..

A middle-of-the-road home in metro Denver now costs more than five times the median household income, a new record.

To put that in perspective, a median-priced home in metro Denver back in 1960 and 1970 went for a little more than two-times the typical household income, during an era when many more households survived on a single income, according to an analysis from Clever Real Estate.

Even as late as 1990, the ratio was at 2.59, below the 2.6 ratio that Eylul Tekin, a researcher with Clever Real Estate, recommends buyers don’t cross if they can avoid it. The U.S. ratio is at 3.6.

Denver’s fast transformation from mostly affordable to high-priced is one of the most remarkable the country has seen this decade, said Jeff Tucker, an economist with Zillow.

New York, San Francisco and Los Angeles have long seen home prices untethered from what residents make. Their price-to-income ratios are now above eight. Denver, by contrast, has found a way to become expensive in a short seven year..