The Economic Reality of Living in LoDo

May 27th, 2010

Last month, Forbes Magazine produced a list of the “worst selling” housing markets in America, and much to my surprise, listed Denver as the second worst in the nation.  Based on anecdotal evidence from friends of mine who are brokers, as well as on-the-street observation, I had a hard time believing the validity of this report.  (Besides, even if we WERE bad, there is no way we were worse than Phoenix and Las Vegas.)

After doing some research on Metrolist, I found that the numbers hardly backed up the magazine’s claim.  In fact, especially in the condo market, they tell a very different story.  There are 37 percent more condos under contract in March 2010 than a year earlier, 30 percent more sold, and average prices were up over 4 percent.  While not the numbers that we saw in the boom years, they point to a solid, recovering market.

Since our home (in this case condo), is the largest asset most of us have, it is good to know that despite some rough times, the market is once again improving.  While most of us chose to live in LoDo for the lifestyle, it is good to know that it is still a good financial decision as well.

Two Positive developments

May 21st, 2010

We recently reported that Francois Safieddine had filed with Excise and Licenses for an Under Age Permit for 5 Degrees, 1475 Lawrence St. Following two meetings with the Good Neighbor Committee which made clear that the Committee was not supportive of his plan, Francois withdrew the application.

And, just yesterday, Sports Book, formerly The Lure, pulled up stakes, literally along with some TVs etc., at 1434 Blake. But they are gone, to the apparent relief of the owners, who are owed considerable rent, and Dale and Valerie Chandler, the next door neighbors who have endured a lot over the last couple years. The GNC had tried to help find a workable solution to a bad problem, but it was the Sports Book folks who finally did it by leaving.

Bicycle Sharing Comes to Denver!

May 3rd, 2010

In case you haven’t seen the stations (there are over a dozen in LoDo), or the bright red cruiser bikes out and around town, you should know that Denver has launched the first city-wide bike sharing program in the United States.  Modeled after successful programs in Europe, the Denver B-Cycle is just another example of how we are embracing new and innovative ways to improve our quality of life.  The idea is to use the bikes for trips that are too long to walk, but too short to drive – perfect for those of us in LoDo.  Here are some details on how it works:

Citywide Bike Sharing Program Launched on Earth Day, April 22nd

Did you know roughly 71% of Americans say they would like to bicycle more than they do now, and the #1 reason for not bicycling is lack of access to a bicycle? The City of Denver is taking action by launching Denver B-cycle–the nation’s first large-scale citywide bike sharing system. This summer, Denver B-cycle will have 450-500 red B-cycles at 50 stations throughout the Mile High City.  At the time of the launch on Earth Day, April 22, Denver B-cycle expects to have approximately 40 stations and 375 bikes.

Here’s how it works:

Your browser may not support display of this image. Your browser may not support display of this image. Denver B-cycle members can pick up a B-cycle from any of the conveniently located B-stations and drop it off at any other B-station. B-stations are currently located throughout Downtown Denver, Capitol Hill, Cherry Creek and University of Denver, among other areas. Check out www.denver.bcycle.com for an up-to-date listing of B-station locations. You can sign up for 7-day ($20), 30-day ($30) or annual memberships ($65) online. You can also purchase the $5 24-hour membership at the B-cycle station with your credit card. Discounts are available for students and seniors ($45 annual membership.) Once registered in the system as a member, there is no charge for the first 30 minutes every time you check out a B-cycle from a station. After 30 minutes, additional usage fees apply that escalate every half hour thereafter, with a daily maximum of $65.  And don’t forget — parking is even easier now that the Downtown Denver Business Improvement District (BID) has installed 100 new bike racks in Downtown Denver.

What is the impact of Denver B-cycle?

Denver B-cycle offers residents and visitors an alternative form of public transportation that supports the City’s Greenprint Climate Action Plan and the Strategic Transportation Plan.  It is integrated into the larger multi-modal transportation system, including buses and the light rail.  This multi-modal approach, along with over 358 miles of bike routes/trails and 300 days of sunshine, makes Denver the perfect city to launch a bike sharing system.

Register now at www.denver.bcycle.com and follow Denver B-cycle on Facebook and Twitter for more information.