Tag Archives: highlands denver

Where and Why Should I Buy in LoHi?

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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):

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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.

Rosa Linda’s: Romeny’s Buck Stops Here

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Let me start by saying I love Rosa Linda’s. If you haven’t been there yet (33rd and Tejon), then you are missing out. We start every meal there off with their cactus nachos (top on the menu of apps, official name has “Wall Street Journal” in it). It’s a huge plate, but if you have 3+ people it won’t spoil any appetites. Their burritos are delicious, but if you are there in season, try the calabacitas; awesome vegetable stir fry that I like to add pork to to make it heartier.

A review of my favorite Mexican restaurant’s food is not why I am writing today. Not sure if you have seen the article on Westword yet, but it is great. Mitt Romney is in town, as you know, for the debate tomorrow evening at DU. Wanting to fit in with the common folk, he decided to grab lunch at Chipotle yesterday (scope the photo with the employees, classic). For a quick meal on the go, Chipotle can’t be beat (I am a fiend for their salads), but stopping at a national chain isn’t exactly the best way to get across that you can relate to Denverites by dining at their favorite restaurants. You need something note worthy, but off the beaten path. Turns out Romney’s campaign had exactly this in mind, and in August they tried to set up a visit to Rosa Linda’s. They thought that the fact the owners are Latter Day Saints would easily get them in the door (George W. was denied a similar request in 2000). Wrong. The campaign should’ve done their homework, because the owners aren’t members of the GOP either.

When asked by Westword if Rosa Linda’s would ever serve President Obama, Oscar Aguirre, the oldest son of the family that owns the restaurant, said, “We would love to have him. Absolutely.” Sounds like a great place to grab a bite after Obama’s rally at Sloan’s Lake tomorrow.

LoHi: America’s #17 Best Hipster Neighborhood, Whatever That Means

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Forbes has recently come out with a list of the top hipster neighborhoods in the country. Not sure that anyone wants to be on this list, but you’ll be happy to know that we’ve made it! Phew, glad that’s over. How they tried to justify the list by numbers (they may have been close with their picks, but the justification is laughable) consisted of high walkability, number of coffee shops and food trucks, frequency of farmers markets, locally owned restaurants and bars and how many residents participate in the arts. Sounds like oodles of insider information went into this article. After reviewing their list, my takeaway is that in order for a neighborhood to be considered “hipster”, it must have been, at one point, fairly dilapidated and dodgy. Add an influx of money, and bam, you have a hipster’s paradise. If, as the article states, going to indie shows, eating healthy, drinking good coffee and being social are considered traits of a hipster, then sign me up. Not sure we’ll ever be able to top Portland or Austin, but in the mean time, stay slightly classy LoHi.

Why I Love Living in LoHi

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The Heart of LoHi

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.

LoHi: Buy Now, Buy Fast

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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.