News and Insights

Denver News: Home Renovation soar in Denver

News and Insights, , , , , , , , , ,

2017-02_CONews

In 2014 and 2015, almost seven out of ten Denver homeowners made a home renovation.  That figure put Denver at the number one spot out of 25 cities for home improvements. Over the two years since then, that amount maintained its position  at 69.3 percent according to the American Housing Survey.  It is thought that the cause is rising home prices providing  more equity to homeowners to use on renovations.

The study relates this renovation increase to  job and population growth.  “Both Colorado and Utah have been attracting capital in the technology segment and rapidly adding tech workers.  People tend to do more home improvement projects when they move,” said the spokeswoman for the Home Improvement Research Institute Pam Heidel.

A difficult market could be another cause.   Homeowners may be opting to improve their homes instead of finding a new home which may not be as easy as it was previously.  Also, Denver’s shortage of appraisers could still be a continuing factor.  At the same time, low interest rates would make borrowing  less expensive.

In addition, a study by Lawnstarter suggests Denver homeowners are very satisfied with their dwellings.  They place Denver homeowners as the third happiest in the country.  The only two cities ranking higher being San Francisco and Los Angeles.  This high level of happiness could be a direct result of the increased renovations.

The amount of home renovations Denver is seeing is even pushing estimates for spending on home improvements in the west.  2017 is expected to grow 6% in the mountain region, with Colorado being the driving force.  The other top cities for home improvement include Portland, Phoenix, Kansas City, and Detroit.

February Events

News and Insights, , , , , , , , , , , , , , ,

2017-02_Events

February may be a short month, but is not short on Boulder events.   Valentine’s day is not dominating this month, though any of these events would make a great date night.  Here’s a look at just four events this February has in store for Boulder.

Boulder Bookstore: February 10th, 7:30pm-Laird Hunt and Eleni Sikelianos

Authors Laird Hunt and Eleni Sikelianos will be speaking about, and doing signings, for their new books.  “The Evening Road” by Laird Hunt, is the story of two women on the run through Jim Crow-era Indiana.  The two travel a violence and hate filled America in search of a new life and escape their pasts.  “Make yourself Happy” by Eleni Sikelianos offers an answer for one of the greatest questions: How to live.  This unique book has both text and images sprawled out across the pages in a fresh take on mimicking ideas.  “Humanity, happiness, and the survival of the biosphere spin each section forward, species are wiped out, yet the poem endures.”  Vouchers are $5, and good for $5 off the author’s book or any purchase made that day.

Boulder Public Library: February 12th, 3:15pm- The Boulder Choral

The Boulder Public Library is hosting this all ages event showcasing the Boulder Choral. As part of their concert series, this free event will be an afternoon of live choral music by local performers.  Everyone can come enjoy these beautiful sounds at the Library’s Canyon Theater  with no reservations or tickets required.

Mountain Sun: February 19th, 10pm-1am- Hello, Dollface

If you’re looking for a more instrumental live music experience, Mountain Sun has you covered.  Hello, Dollface, a 2-10 piece band, will be playing live all night.  Their style embraces the energy and soulful nature of music rather than being perfectly precise.  The event is free to enter, but drinks and food are available.  This event is for those 21 and up.

POSHsplt: February 25th, 9-11am- Kid’s Saturday Morning Art Exploration

For those under 21, there’s still plenty of fun to be had.  This event is designed to allow kids a chance to be fully creative.  Participants are encouraged to use all types of materials to create works of art. while working together and independently.  Each group is hosted by an art therapist to make sure everyone is having fun.  Kids will be given as much assistance and support as they need to make something all their own.  With clay, beads, paint, and much more at their fingertips, imaginations can run wild.  At $20 per child, this weekly event is great for inspiring creativity.

Neighborhood Spotlight: Aurora 7

News and Insights, , , , , , , , ,

Aurora 7 is a Boulder neighborhood that manages a perfect balance for people who love exploring downtown and nature.  Many great local restaurants and shops are just a short walk or drive away. A great park and creek are also right in the neighborhood’s heart. Aurora 7 also provides a great mix of housing options.  There’s a lot of variety from beautiful family homes built in the 60’s and 70’s to modern apartment complexes. Within  walking distance to CU’s campus, as well as High Peaks elementary, Aurora 7 harmoniously blends a diverse age group.

Getting Around

Transportation

Getting around from Aurora 7 may offer too many choices.  Drivers can utilize 30th street to get them onto either Baseline or Arapahoe with ease.  From there the trip downtown or onto the highway is a quick and comfortable cruise.  Bus riders  also have  options.  The Bound goes down 30th, plus multiple other lines run down Baseline and Arapahoe so there’s almost no wait for a bus.  CU students can utilize the Buff Bus pickup point for a safe ride to and from campus.

Biking

Being so close to downtown, biking may be even more convenient than driving.  Aurora 7’s close proximity to places like the 29th street mall make it perfect for bikers.  Students will have no trouble taking the paths or streets to school, whether it be CU or the nearby New Vista High School.  Even errands and commutes are within a comfortable and scenic biking distance.   Walking is a great way to get around with so much close at hand.

Neighborhood Amenities

Aurora 7 has not one, but two great parks in the neighborhood.  The Aurora 7 park is tucked away in the neighborhood and a great place to bring young kids and pets.  Scott Carpenter Park also has so much to offer with the wide open field, playground, pool, and skatepark for summer play.  In the winter, the hill in the field becomes a great local sledding area.  There are two fantastic shopping options on either side of the neighborhood.   William’s Village is to the south, with a Sprouts Market, the local Cosmo’s Pizza, and Carelli’s restaurant.  Sports fans will love how close The Dark Horse Saloon is on game nights.  To the North is a King Soopers, the local Moe’s Bagels, and Jamba Juice among much more.

Aurora 7 in a Nutshell

With so much so close at hand, there’s no need to choose between doing errands and going for a bike ride or playing in the park.  Aurora 7’s great neighborhood is safe and diverse with options for all types of families.  The nearby mall and shopping options, as well as direct streets to anywhere in or out of town, is truly unique.  There’s hardly a better example of a true Boulder neighborhood.

Open Space Debate Continues

News and Insights, , , , , , , , , , , , , , ,

2017-02_BoNews

The opportunity presented by the 20 acres of vacant government land is a subject of great debate.  The issue was shelved in October to reconsider proposals.  On one hand, there are those who wish for the space to be used for new affordable housing.  While on the other, many also want it to remain an open space.  But, before any decision can be made, a plan must go through four separate government bodies.   They are the county Planning Commission, the Board of County Commissioners, the Boulder Planning Board and the Boulder City Council.

The head of Boulder County Housing and Human Services, Frank Alexander, “see[s] this as a once-in-a-lifetime opportunity.”  When speaking to the Boulder County Planning Commission members, he stated: “We are truly in an affordable housing crisis.”  Alexander and a member of the BVSD are the main forces behind turning the land into affordable housing.

However, on the other side of the issue is Dave Rechberger.  Rechberger’s organization is arguing to keep the 20 acres of land as open space.  He believes that the property should be viewed as two 10 acre spaces, and treated separately.  His group has legal objections to the plans put forth.  One of which claims the school system would violate state law by using the space for a school or public use.  Rechberger’s Twin Lakes Action Group is “ready, willing and able to fight this in a court of law.”

After a four and a half hour long meeting on January 18th, a vote was taken.   Over 75 people were registered to come in and speak about the issue, with 62 appearing.   These citizens are concerned members of the community taking the opportunity to speak up.  Both sides of the issue were given voice for the commissioners to hear before voting.  In a 4-3 split, with two members of the Planning Commission absent, the land was designated for medium density housing.

It won’t be until February 15th that the Commission votes on possible changes to the current plan.    Unlike January’s meeting, all 9 commissioners will be present. .   Whatever plan is agreed upon in February will then be taken to the county commissioners.  From there, the issue will presented to a public hearing held by the Boulder Planning Board and Boulder City Council.  Only after going through all four government bodies will any plan for this land be accepted.

 

Colorado News: Colorado’s Economy to Grow in 2017

News and Insights, , , , , , , ,

construction

The Business Economic Outlook at CU Boulder predicts that Colorado’s economy will continue to grow through 2017.  Construction, tourism, and healthcare are anticipated to be the main drivers of the expected 64,000 new jobs in Colorado in the coming year.  Expected 2017 growth of 2.4 percent exceeds the 2.2 percent seen in 2016.

Colorado is likely to remain within the top 10 states for job growth, a position Colorado has held for the last 6 years.  The population is also on the rise because of the new jobs.  In fact, Colorado is predicted to become the second fastest growing population in the country this year.

Richard Wobbekind, an economist at Leeds school of Business at CU Boulder, commented on the matter.  “The growth will be across every sector except natural resources and mining and again will support the strongest period of employment growth that we’ve had since the 1990s.”  Wobbekind stated that workers in the mining sector are able to find other jobs opening up.

The construction sector is expected to see the largest increase in jobs.  Approximately 9,000 jobs are expected with more single family home construction predicted.  That would be a 5.7 percent increase over 2016.  Voters passed a large number of bonds which will fund many projects, creating the demand for jobs.

Leisure and hospitality is expected to be second to construction in growth.  This sector is estimated to increase by over 12,000 jobs, or 3.7 percent.  Health and education look to see the least growth with an increase of over 10,000 jobs is expected.  However, farmers are likely to see continued difficulty in the coming year.  A combination of weather, drought, and commodity prices predict further decrease in farmer income.  Agriculture annual income decreased from $850 million to $444 million statewide between 2014 and 2016.  Income is predicted to fall to $392 million in 2017.

 

Boulder News: Envisioning East Arapahoe

News and Insights, , , , , , , , , , , , ,

conference-room

Envisioning East Arapahoe has found its way back to the city’s agenda after being shelved for two years.  Three main scenarios were created considering different goals and predictions of how the neighborhood will look in the future.

Scenario A is termed “Current Trends.”  This scenario assumes East Arapahoe will continue having small industry, with few opportunities for new office or retail space.  Additional residential buildings would be less likely to be built.  In short, scenario A plans for the least change to our neighborhood.

Scenario B is termed “Districts.”  Walnut East would extend to meet 48th St north Boulder Community Hospital with more medical related offices and possibly retail.  The area below Gerald Stazio ballfields would become “Recycling Row”.  Significant street alterations on Arapahoe including new intersections are planned to increase commuter throughput.  The Arapahoe alterations aim to facilitate transportation modalities.

Scenario C is termed “Housing Choices.”  Affordable housing is planned for between 55th & 63rd on Arapahoe.  New housing would be built within a 15 minute walk from nearby shops and places of work.  The BDT and surrounding grounds would become part of an “Art Center.”  This plan includes the highest level of street alterations.  New parks, community gardens, and public spaces are all planned for scenarios B & C.

The Transportation Plan is another aspect of the Envision East Arapahoe plan. This long term plan aims to increase all types of transportation on Arapahoe.  The plan supports the Boulder’s Transportation Master Plan and the increasing number of commuters from Boulder’s supporting communities.

These plans are likely the most impactful Boulder City intervention in our neighborhood in a long time.  Public meetings for these plans have not been set for the Envinsion East Arapahoe, so stay tuned.   The city has yet to confirm any details on Envision East Arapahoe plan, but there is a public meeting for the Transportation Plan on February 2, 2017.  The previous meeting was on December 5th.  Those who want to have their voices heard on these matters can contact Adam at adam@krollre.com to receive more details as they are available.

 

January Events

News and Insights, , , , , , , , , , ,

new-year

Why not make your 2017 resolution to enjoy more of the events Boulder has to offer.  January is shaping up to be a great month to make your resolution a reality. Let’s take a look at some events kicking off 2017.

Boulder Theater: Jan 26th Chevelle

The alternative rock group Chevelle will be performing at the Boulder Theater.  Chavelle has nearly 2 decades of experience and a newly released album.  Opening for the band is Black Map and Dinosaur Pile Up.  The event is for all ages, but kids 15 and under will need a parent with them.  The tickets are tightly priced at $27.50-$30 and are sure to sell out fast.

Boulder Bookstore: January 12, 7:30PM – Adrienne Russell

Adrienne Russell will appear at the Boulder Bookstore on January 12th to speak about her new book, titled “Journalism as Activism.”  The book explores the important aspects of journalism and how it is changing in the modern age.  “Journalism as Activism” delves into the effects of digital journalism as a means to cover issues.  Adrienne Russel will sign books after the appearance.  The voucher to attend is $5 and good for $5 off the book price or any other item the day of the event.

Puzzah! at the Flatiron Mall: All January Long – Escape Room

Escape rooms have been growing in popularity for the past few years all across the country.  A unique puzzle experience where groups of 2-6 must solve puzzles as a team in 60 minutes.  Puzzah! Is a Colorado based company creating unique puzzle rooms for teams to solve.  All through January they are running the Specimen rooms, based on escaping an alien ship.  At $25 per person, it is a great afternoon with friends and family for a fun team building experience like no other.  In addition, there are 2 escape rooms in Boulder if you’d prefer to stay in Boulder.

Jester Dinner Theature: Every Thursday, Friday, & Sunday in January – Seussical

A collection of Dr. Seuss’s most loved characters come together in this original musical.  A young child, Jojo, brings all these characters together in a lighthearted musical.  Familiar characters such as The Cat in the Hat, Horton, and the Whos are just a few of Seuss’ creations to appear.  The music spans a wide range of genres, from Pop, to Latin and Funk.  All the charm of the original stories make this a great show for all ages.  The show will play at the Jester Theatre every Thursday, Friday, and Sunday in January.  Tickets range from just $7.50-$15 so there’s no reason to miss this great family outing.

 

Neighborhood Spotlight: Park East

News and Insights

The lively area known as Park East is located right in the center of East Boulder.  Most of the houses were built in the mid 60’s to early 70’s, giving them that authentic feeling of a cozy homes.  Also, the neighborhood mostly has unique homes where no two houses look the same.  See why Park East is a great place for any family to call home.

Getting Around

Bike Trails

Park East is situated between two of the primary roads in Boulder (see Transportation below), but that doesn’t mean driving is the only way to travel.  The small neighborhood roads are great for bikes in addition to plenty of bike lanes and paths.  The network of bike paths eliminates bikers concerns about vehicular traffic.  Even the kids will have a safe ride to and from Park East park and High Peaks ElementarySchool.  Nearby Aurora 7 Park, Arapahoe Ridge Park, and the East Boulder Recreation Center are very accessible by bike as well.

Transportation

Baseline Road runs along Park East on the South border.  This core road is a branching point for many of the RTD bus routes.  With stops no further than a block apart, the bus is a great option for students and professionals alike.  the bus route’s convenient path downtown makes it unlikely that anyone would need to make more than one connection to get where they’re going.  In addition, the reliability of the buses is very handy during the winters.  Foothills parkway also runs through Park East providing a quick way to get out of or around town.

Neighborhood Amenities

Park East has a nice variety of amenities close at hand.   Two great parks are located in the neighborhood itself.  One is the namesake of the neighborhood, Park East.  While it is the smaller of the two, Park East is great for younger kids.  With a fun little playground designed especially for kids and a wide open field for sports or picnics, it’s a great place to spend the day with the family.  Another park is the Aurora 7 Park, right beside the Elementary school.  This park is designed more for sports, with 3 baseball fields set up.

Being right beside Baseline, residents of Park East have a good selection of nearby shopping.  To the South is the Meadows Shopping Center.  Within is a Safeway for groceries, the local Big Daddy Bagels, and Glacier ice cream and much more.  Additionally, behind the center is the Meadows branch of the Boulder Public Library for easy access to hundreds of books.

Just a bit West is William’s Village.  The natural grocer Sprouts offers an alternative to Safeway.  Also, the locally owned Corelli’s Italian restaurant is a perfect place for a more special night out.  But for more casual meals, Colorado’s own Cosmo’s Pizza is a fantastic option for New York style pizza.

Park East in a Nutshell

Park East has everything a resident of Boulder could want within easy reach.  A series of bike trails connects to almost anywhere you’d want to go, and buses are a convenient alternative.  Parks offer fun for the entire family, and two nearby shopping centers make errands a breeze.  Residents of Park East have everything they need right in the neighborhood.

Boulder News: Redevelopment at Eastpointe Apartments

News and Insights, , , , , , , , ,

apartment

Early in November, Boulder City Council encouraged developers to offer diverse housing at Eastpointe.  The aging apartment complex in East Boulder was owned by an ambivalent landlord who kept rental rates reasonable.  In December 2014, the property was purchased by Aimco, a Denver based company that is one of the largest owners and operators of apartment communities in the US.  Aimco wishes to redevelop the site, but must abide by the City Council’s goals for affordable housing.

In early September the City Council called for the plans to be reviewed during concept phase even though they could not deny the project during this phase.  They are only able to offer suggestions consistent with their goals.  “We can’t prevent property owners from redeveloping,” Mayor Suzanne Jones said, “but I do think we can try to have it done as sensitively as possible.”

The Eastpointe proposal seems to meet City Council’s affordable housing and increased dwelling density goals.  Cash in lieu for affordable housing and an increase in dwelling count from 140 units to 233 help further the Council’s goals.  The current parking would be moved underground to leave room for additional green space in the complex.

All these changes will have an impact on those living in Eastpointe as rents are expected to dramatically increase.  Residents have spoken out about this increase, concerned about their ability to afford continuing to live there.  Another concern is the focus on smaller units which will exclude many families.

“I’m very concerned about the loss of two-bedroom units and the lack of much idea of where those people who right now are occupying those two-bedroom units are supposed to go,” Councilwoman Lisa Morzel said to Aimco representatives. “I would ask that you consider the current residents and really look for what we’re looking for, which is housing that meets more than one person’s needs.”

Aimco Senior Vice President Patti Shwayder stated that it was not likely they would be able to provide low-income housing on the new site.  Aimco claims to offer help relocating any residents to the best of their ability.  “We’re not a fix-and-flipper,” she said. “We like to be a part of the community.   This is great housing where it should be.  We’re replacing aging and really inefficient buildings that will come down at some point … with a brand new community that will be sustainable and last for a long time.”

 

 

Denver News: Are rents really going down?

News and Insights

rent-prices

Rents have increased all across the country.  The rate of increase is slowing, but overall continues upward.  However, many landlords across the country are advertising discounted rents of over 20% below rental listings.  And in Denver about 10% of listings are getting price cuts.  If rents are so high, why are landlords lowering their asking prices?

Offering some form of concession to entice potential renters is not a new phenomenon.  For example, one free month’s rent or gift cards are occasionally offered to sign a lease.  Cutting down monthly rent is not the same thing.  In fact, the slashing of rent prices can be purely artificial.  Landlords are simply asking for more than the unit is worth, and renting for less than the inflated price.  While the rent ends up the same, it appears to be a better deal because it is listed as a discount.  Most discounts in Denver are low, around 5%, which is still attractive to renters.

Deception is not the motive in most cases as most landlords are honest in their listings.  So, why would an honest landlords also be cutting their prices?  Data scientist Mark Uh, thinks there are two reasons.  The first is that rents are being pushed too high. With no renters willing to pay, landlords are forced to lower prices.  “Landlords have been listing units too high,” said Uh. “When they reduce the price, they’re finding people who are eager to rent.”

A second reason for lower rent is competition.  Areas where rents haven’t gotten so high are much more competitive in price.  So, in order to secure renters, landlords need to reduce prices to beat out other options on the market.

One reason for the rise in rental listing rates is the practically vertical real estate price movement over the past few years as landlords are looking to recover the cost of purchase.

The majority of rent cuts commonly occur during the fall.  This is because landlords are trying to rent units left over from summer.  However, the amount of units getting a price reduction has gone up this year.  Nationally it has grown by about 0.5%, but up to 9% in cities like Denver.  So, while some markdowns may be just a sales tactic, there are reasons why rents are going down in some cases.