Why RedPeak Properties’ West Highland “High Rise” Is Good for the Neighborhood

Posted on 02/27/2013 by masongoetz

It would be an understatement to say that one had been living under a rock the last few years if they weren’t aware of the controversy going on in Highland Square. Yard signs (of which I have spotted fewer over the last year) dot almost every yard as you get closer to the intersection of 32nd Ave and Lowell Blvd. “NO HIGH RISES In West Highland” is prominently displayed in bold white letters on black. Quite intimidating. But is the development by RedPeak Properties worth the fight? Is it going to ruin the historical integrity of the West Highland neighborhood?

For starters, I think it is important to understand where the neighborhood group, No High Rises in West Highland, stands. Their mission states that they are not anti-development, but rather they just want to make sure development will stay in line with the character of the community. Given that the site, and neighborhood for that matter, have changed and adapted countless times over the history of the neighborhood, I don’t see this as a large enough concern to stifle development. What appears to be the real issue at hand, is that residents don’t want more congestion along the streets and their mountain views (which are non-existent from street level) to disappear.

A white paper put out in June 2009 by the National Association of Home Builders suggests that the impact, at least economically, of a multi-family building (or in this case, buildings) will be positive on the surrounding local community. They estimate that per 100 rental units (there will be 147 units for RedPeak’s West Highland development) there will be economic impact in three phases. The sum of the first two phases (Phase 1: Direct and Indirect Impact of Construction Activity; & Phase 2: Induced [Ripple] Effect of Spending the Income and Taxes from Phase I) will lead to $7.9M in local income, $827k in taxes and 122 local jobs. When applied to the West Highland development, those numbers go to $11.6M in local income, $1.2M in taxes and 179 local jobs (I am aware that the report is from 2009 and that these figures are estimates). Phase 3 of the process (Ongoing, Annual Effect that Occurs When New Homes are Occupied) suggests that the development will lead to $2.2M of local income, $395k in taxes and 32 local jobs (or, $3.2M in local income, $580k in taxes and 47 local jobs for the 147 unit West Highland project).

Economic impact aside, is either party “right” in this issue? Do the residents’ have valid arguments about congestion? I believe so (you can read a memo from the City of Denver on the parking/traffic situation in Highland Square as of January 2012, supported by volunteer gathered data, not from a licensed traffic engineer, here). Is the historical integrity and charm of the neighborhood in peril? In this case, no. It is no mistake that RedPeak chose the location that they did to develop. The demand to live in Highland Square is off the charts. What we really have here are resident’s that have been bitten by the NIMBY bug (they say so themselves).

RedPeak has taken a ton of community input into account. They are not building the maximum allowable structure, they have listened to residents’ concerns about retail on Meade Street and they have designed what will be a beautiful apartment building that will fit will into the mix of historical and contemporary buildings in the neighborhood. So, will there be more people around? Yes. Will it be worth it for the neighborhood? Absolutely.

Highland Rendering on Lowell Boulevard. Source: RedPeak Properties.

Highland Rendering on North Meade Street. Source: RedPeak Properties.

Highland Rendering on Moncrieff Place. Source: RedPeak Properties.

Where and Why Should I Buy in LoHi?

Posted on 01/30/2013 by masongoetz

I get asked this question a lot. Until recently, I would point to physical examples of redevelopment to help clients see why a particular property would be a safe bet (actual scrapes and new construction, or properties that have been rehabilitated). Of late, I have started using the zoning code to help clients see why they should consider purchasing a particular property. I have always looked to the zoning code on a particular property once a client has shown interest, but only for that property (ex. they want to split the lot, they want to turn the basement into another unit, etc.). The Denver zoning code, redone in 2010, is much more comprehensive now than it ever was, and it is very easy to understand a property’s potential with just a few minutes spent researching it’s code.

It can sometimes be hard to articulate why a certain block is a “hub” of the neighborhood. Sure, there may be restaurants on it, or there may be new construction, or the average sold price might be up 10% year over year, but some people still can’t see the potential future value of a piece of real estate. Here is an example of what my partners and clients look to when considering purchasing a property with the intent to hold it for a while (we focus on proximity to mixed use/main street/urban center zoning, if in an area of primarily single/double unit lots, and we look for lots zoned mixed use/main street/urban center that might currently have a single family unit on it):

The yellow on the map is zoned U-TU-B or U-TU-B2, meaning that if the lot size meets the minimum requirements set forth by the city, you can put a duplex on it (or carriage house, basement unit, etc.). The red and dashed red areas are what we focus on. Those are the the mixed use (solid red) and main street (dashed red) zoned lots. The number following the code (U-MX-3 for example, what my house is zoned) tells you how many stories you can build up to. So, when you look at the heart of LoHi around Hirshorn Park, it is easy to see why over the last couple years there has been so much development of tall multi-family units. This is exactly what the city wanted and intended.

To get back to the original question of where to buy in LoHi, I suggest looking to be in close proximity to the Tejon and Navajo corridors. Driving up Tejon today as opposed to a year ago, it is easy to see the development (there are currently five projects being constructed/redone between 33rd and 38th) in action. While the eastern part of LoHi has been a bit slower to transition, it will not stay that way forever. There is already the art district on Navajo (home of the lovely Bug Theatre), and a ton of potential thanks to the Denver zoning code. The red areas are going to be the hubs of redevelopment, so if you are considering LoHi for a purchase, consider proximity to those areas.

The Worst Part About the Highlands: No Grocery Store

Posted on 01/11/2013 by masongoetz

So there are few things that don’t go our way living in LoHi or West Highlands. We have some of the best restaurants in town. Some of the coolest bars. Great parks. Hole-in-wall coffee shops. Overpriced gyms. But no grocery store. How can this be?

For starters, there is a lack of commercial space. There are tons of “main street” spots that work well for smaller restaurants and boutiques, but very few lots that would be able to accomodate a retail grocer. My girlfriend and I are constantly pointing out spots that we feel would be great for a King Soopers, but there always seems to be a catch. Bad access from main roads. Historic buildings on the lot. Too many separate lots that would need to come together for there to be adequate space. There just isn’t room.

Here comes the part where you go, “but wait, Mason, there’s a Safeway on Federal and 26th!” To you I say poo poo. For no apparent reason, Safeway has decided to charge more for the exact same produce and products that you can get at any grocer (see why Safeway is overpriced). It is for this reason that I will not shop there, unless it is an absolute emergency.

So, that leaves me with a 2.2 mile drive to the nearest King Soopers (there is a King Soopers on 38th and Sheridan, or 9th and Speer. Both are equidistant from me, however I have to deal with city traffic to get to the one on 9th and Speer). And no one should have to drive 2.2 miles to the grocery store in the city.

Solution? I am sure you have noticed the many new apartment and multi-family projects that have come into the neighborhood in the last year (Highland Park and Prospect on Central to name a couple). Instead of putting in restaurants that are open from 2pm to 10pm, or another yoga studio, why not put a grocer in here? The amount of space might not be adequate for King Soopers, but Tony’s or Marczyk’s would fit in great. They would be constantly packed from the foot traffic. The best part? We wouldn’t have to drive 2.2 miles in rush hour to get ingredients for dinner, because who likes grocery shopping anyway?

Why I Love Living in LoHi: Part Deux

Posted on 10/22/2012 by masongoetz

This is both a follow up post to one earlier this year on a new brewery in the neighborhood, as well as how it affects my life. Since opening late this summer, Prost has been a hit (I base success off of how my taste buds react) both with pallets and crowds. I have now made a handful of walks down to the place, and every time I have enjoyed myself. Here’s my breakdown of their brews (keeping in mind I am not a beer sommelier):

-Prost Pils. Pilsners are not my favorite beers to begin with, but a good one here and there is all right. Prost’s tastes almost exactly as their description suggests. It is a very smooth beer that has a delightfully bitter finish. Not as bold as Pilsner Urquell, but distinct nonetheless.

-Weißier (Hefeweizen). Hands down my favorite of Prost’s brews. Make sure you get a Maß, because you’ll want that much. Every time I drink Prost’s hef, I picture my stomach giving me a big hug for sending him this deliciousness.

-Prost Dunkel. Definitely an acquired taste, Prost’s dunkel is the perfect beer for a cold day. It’s rich in flavor, and I don’t think you could handle more than one.

-Prost Oktoberfest. I have never been to Munich, so this is subject to change, but this is my favorite Oktoberfest I have ever tasted. I went to GABF this year, and this one still takes the cake. It’s flavorful and crisp. Great for autumn evenings.

Best part about Prost may be the atmosphere. Always lively, food truck on site (later in the week and weekends) and a large open space make for some good times. Love cruising down there to meet friends at the end of the workday and walking home after. C’est la vie.

Why I Love Living in LoHi

Posted on 09/24/2012 by masongoetz

The Heart of LoHi, complete with delicious ice cream.

If you live in Denver these days, it seems that you will be spending some time (if not all of it) in LoHi. There’s great restaurants, cool bars, gorgeous scenery, and typically friends. That’s how it has played out for my girlfriend and I (who bought our first house at the end of June, whoop whoop). Over the past year, we’ve been lucky enough to have a huge chunk of our close friends move within a couple blocks here and there of our new house. Even though this might feel a bit like college, now that we’re old with jobs, it’s the furthest thing from it (although we try to make up for that on weekends).

Since we’ve now been in our new house for over two months, some of the dust (literally) is starting to settle. With it, I have been trying to articulate why it is I so enjoy living here. For starters, I am no longer going through gas like there’s a leak in my car (I used to live near DTC). With a bulk of my job focusing on this area, and when Lyss was up here, I was going through multiple tanks a week at times. Not seeing the pump as much is great, but that’s not all there is to it.

Getting home from work late, tired and not wanting to cook no longer requires a 10 minute drive to find eats. It’s so satisfying being able to walk to some of the best restaurants in town (Gaetano’s, now open after the remodel, is still delicious albeit a tad too hip, and a 1/2 block away). The little Mexican restaurants that have been around forever are, for the most part, delicious (Chili Verde is a block from us, but we decided not to try it after their piss poor health rating in Westword). Or, if we are wanting to hang out with the yuppies of the area, there’s plenty of options.

There are countless activities to attend as well (it seemed this summer that every block had their own music festival at some point, along with the many other gatherings/parties put on, Freak train every month, etc.) And then it struck me. What makes everything about this neighborhood come together is the people. Without everyone, there as just pretty empty houses and commercial buildings. It is the people that add their own charm and touch to them all, whether it be the 100 year old building that houses the coffee shop, or the ultra modern, overly priced, gym. Even the King Soopers (I know, technically it’s Wheat Ridge) is different. The butcher? Best around. The guy who cares to the produce department? Probably the most helpful grocery store employee I’ve ever met (ask for anything and it will be there in four days). It would only make sense that most of your neighbors are this great as well, seeing as how they are the owners and employees of the places. There is such a rich blend of cultures and socio-economic standing in Highlands, that really makes this place what it is.

At this point, it feels like I am rambling. I am going to start doing some posts on specific reasons/instances as to why I love this neighborhood, and if you have any of your own, feel free to send them my way and we’ll get them up.

Happy Fall.

Where is the Happiest Hour in LoHi?

Posted on 05/18/2012 by masongoetz

Ahh, Friday! How good it is to see you old friend. The only thing better than Friday is… happy hour(s) (I have never seen it, but I imagine any place that only offers specials for one hour either has no patrons or a bank run at 5pm every day). There are lots of options in LoHi for happy hour, but my absolute favorite is at Pasquini’s.

So what makes this happy hour (they call it happier hour) the happiest? Oh, just a little thing I call INSANITY! First and absolutely foremost, Pasquini’s Highlands has their happier hour EVERY DAY OF THE WEEK! None of this nonsense about not having happy hour on Saturday or Sunday. And, it’s not just the fact that they have it every day that makes it great, they have it TWICE every day. Breathe deep, I know this is hard to fathom. Ready? Ok, here are the details: Monday through Friday is 4pm-6pm & 9pm-11pm (they take care of those that work late, well). Weekends: 11am-6pm & 9pm-11pm. I believe their business model is to get everyone too drunk to leave.

I am having a hard time getting over the fact that whenever I want to go to Pasquini’s, it’s happy hour. Pinch. So what do they serve? Only $5 pitchers of Bud Light, $10 pitchers of craft brews (good luck beating that anywhere else), $1 one-topping slices, $4 meatball

sliders (my favorite) and so many other things that it pains me to think about them before having lunch:

$1 pizza slices, one topping
$4 meatball sliders
$4 eggplant rotoli
$5 Pitchers of Bud Light
$10 Pitchers of Craft Beer
$1 Cans of PBR
$2 Pints of Bud Light
$3 Pints of Signature Draft Beers
$3 Premium Wells
$3 Margaritas
$3 Glasses of Red or White Wines
$3 Glasses of Housemade Sangria
$7 Bottles of Housemade Sangria

Not only are they providing happy hour nearly all hours of the day, they have also recognized how many adults miss ordering happy meals. They have the “Highland Happy Meal” which consists of a one-topping slice, PBR and a premium well shot (after that you won’t care that it didn’t come with a toy).

Go drink and be merry!

Case and point.

Located at 32nd & Zuni.

Thirsty for a Piece of Germany? Think Prost!

Posted on 05/15/2012 by masongoetz

It’s almost impossible not to notice that something has been going on, or better in, at 19th & Central recently. What better use for a vacant building than… a brewery! Yes, this place just got that much better.

What makes Prost (the soon-to-be brewery inhabiting 2540 19th) different? They will only be serving German style beers (a dunkel, a hefeweizen and a pils), brewed in equipment purchased from a German brewer that shut it’s doors last year. After a long journey across the Atlantic, the 72.25-barrel brewhouse will have a new home. 72.25?! That seems like a lot of capacity for a brewery only making 3 (and a seasonal) styles of beer. That is because it is. Prost will also contract brewing for companies that are unable to meet the demand for their own brews

The German feel doesn’t just come from the equipment and the brews to be served, but also from the planned taproom, beer garden and the copious amounts of beer you will be drinking from your Maß (abbreviated from Maßkrug of course). These things hold a litre of beer. Not all of Prost’s brews will be consumed onsite though; the brewery plans to supply some local liquor stores with their creations as well.

So get excited LoHi. We have plenty of craft-brew startups in the Denver area, now it’s time for some good, old-fashioned German beer. Water, barley and hops. Long live the Reinheitsgebot! Prost!

LoHi: Buy Now, Buy Fast

Posted on 05/04/2012 by masongoetz

It doesn’t take long to realize that the Highland area (and specifically LoHi) has taken off in the last year. The lack of active listings is being felt across the Denver metro area with offers coming in within the first two weeks in all price ranges and multiple offers a regular occurrence. The days where buyers were able to take their time and have their pick of properties have passed. The market has shifted from a “buyer’s market” to a “seller’s market” (hate those phrases) very quickly, particularly in LoHi.

One can drive around and notice the lack of “for sale” signs in yards (never noticed how many there were until I started in this business, now I see them everywhere, even when they’re not there), but it’s easier to check the numbers. One year ago, the average days on market for a listing in LoHi was 101 days (it was much higher in other parts of the city and price points, some as high as 250) and the average price per square foot in LoHi was $243. Now? Try 74 days on market with an average per square foot of $259 (note: these statistics are based on both single family/condo properties ranging in price from $0 – $600K). That means that in one year we have seen the average appreciation of 6.58% and a decrease in the time it takes to close of 26.7%.

What has caused this? The amount of homes for sale has dropped by over 50%, rates have remained relatively stable (some decrease) and there are more buyers in the market. Combine all of that with the fact that LoHi is walking distance to downtown, restaurants, shops and every sporting event in the city (sorry Rapids) and it has quickly become the best place to sell a house in the city.

5 Reasons Why You Need to go to Freak Train – Bug Theatre

Posted on 02/06/2012 by masongoetz

Up until last week, I was a Freak Train Virgin. It was a little uncomfortable, a little awkward (especially the goodbye), but getting my cherry popped was also quite awesome. For those of you that don’t know, Freak Train is a monthly event (the last Monday of the month) put on at the Bug Theatre in the Highlands. There are 13 acts of 5 minutes duration (the 13th being a guest from the audience chosen by their admittance number at the door) where anything goes. Some acts were just that, acts, while others were stand-up, songs, poetry readings and a couple of guys pushing their political agenda. You CANNOT be removed from stage during your 5 minutes (the guy sitting next to us told us of an act where a couple got on stage and had sex a few years ago). If that’s not enough to get you interested, here are 5 reasons why you have to go:

Diverse Acts – Since it was only my first time I have not seen as much diversity as some, but I gather that with more experience I will become more well-versed. There were stand-ups with the darkest sense of humor as well as an act that did a new rendition of Conjunction Junction. The performers were genuine, and as a result the show was great. They give you a 5 minute peek into their lives.
Spontaneity – As is the case with all live performances, you never know what is going to happen. The MC did a great job of not only keeping things moving, but adjusting to the acts as needed. Acts themselves responded, directly, to the crowd as well as to other acts. These guys are great at flying by the seats of their pants.
Laughs - A combination of the genuine nature of the acts and the collection of people, both acts and crowd, laughter filled the air the entire night. I was told that I should count myself lucky that most of the acts were so good, and had most of us with sore stomachs. The environment allowed everyone to let go of everything else in their lives and just be there. The good acts were hilarious (that tried) as well as the bad (although I don’t think they meant to be).
13th Freak – This absolutely terrified my girlfriend, and I can imagine a lot of others out there. Chosen by the order in which they came in, the 13th Freak is thrown on stage and given different things to incorporate into an act (in this case 8 months pregnant, the theme song to cheers, in a horror/noir film and the Russian language). This girl killed it, and looked (as) comfortable (as possible).
FREE BEER – Thank you Breckenridge Brewery. Admittance is $5, and with that you not only get in, the opportunity to be thrown on stage, but also as much beer as you can drink until the kegs run out. Need I say more?

Moral of the story: get to the Bug Theatre, located at 3654 Navajo in the Highlands, for Freak Train and laugh, laugh, and laugh some more. Oh, by the way, be careful number 33 :)

She puts up with so much. Packed house, BTW.

5 Tips for First-Time Homebuyers (4 & 5)

Posted on 01/24/2012 by masongoetz

4. Separate Needs from Wants. Do you need the condo complex with all of the amenities and the HOA fees to prove it, or is space the main issue? Viking appliances are nice, but will the electric stove suffice for the time being? Once you start looking at properties, you will notice that comparable properties (in terms of location and square footage) differ more in price than it would cost to have the high-end finishes installed (granite counters, stainless steel appliances, wood floors, etc.). This is because of convenience. Sellers (and more importantly, sellers’ brokers) know that buyers will pay more to have a property ready to move in right after closing than they will a “fixer-upper”. If you are willing to focus on your core needs now, you may find that you will get all the wants for less, later.

5. Know Your Desired Location. Where’s the closest LightRail station? What does the parking situation look like for guests? How far away is the nearest grocery store? These questions may seem like trivial no-brainers, but I have seen them get overlooked more than you would think. I always recommend to clients that they visit the neighborhood they are thinking about buying in at different times of day to get a true feel for the neighborhood. Talk with the neighbors and get their take on the neighborhood and it’s surroundings. Find out how far away schools are. Know what the other homes in the neighborhood have recently sold for, and find out why they sold for what they did. Lastly, talk with a real estate broker (you knew that was coming, didn’t you? Pat on the back). Just as it is with every other industry, it is easier to navigate unfamiliar waters with someone that knows them and with someone you trust. Make sure you can speak candidly with your broker, and if at any time you feel uncomfortable, let them know. If they can’t get it done, don’t give up hope. Find someone that you feel comfortable with.

If you would like more in-depth answers and stories of first-time homebuyers, drop me an email and I will send you a copy of Your First Home written by Gary Keller, Founder and CEO of Keller Williams Realty International.

Highland, Denver

Life on the High side.

Category Archives: Advice