- New housing community coming to Five Points area.
- Clarkson Green first for Five Points Redevelopment Plan.
- Homes are expected to be Gold LEED.
Nine months after the Denver City Council approved the Five Points Redevelopment Plan, the first residential development is moving forward.
On Thursday, Mayor Michael B. Hancock, City Councilman Albus Brooks, Tracy J. Winchester, the executive director of the Five Points Business District and others are planning to attend a groundbreaking for Clarkson Green, a nine-unit, energy-efficient housing community on Clarkson Street, between 24th and 25th avenues, in the Five Points/San Rafael area.
The five single-family homes are priced at either $695,000 or $735,000, while the four townhomes are priced at either $475,000 or $525,000.
The single-family homes have either 2,972 square feet or 3,238 square feet and the townhomes have either 1,873 square feet or 2,238 square feet.
The LEED-certified homes include features such as solar panels, added insulation, water-saving appliances and carpets made without harmful chemicals.
The council approved the plan last September.
“The city has backed the redevelopment plan for Five Points and the Welton corridor to create a more sustainable are and revitalize the area,” said Shannon Harris, president and cofounder the project’s developer, Fuse Living.
“This is kind of the first project that will kickstart the redevelopment,” she said.
It also is the first project for Harris.
“This is my first ground-up development, although I have experience with redevelopment projects,” said Harris, who moved to Denver from Phoenix.
She thinks there will be a demand for homes in that price range.
The homes, including finished basements, are selling from $227 to $254 per square foot, “while some of our competitors in the area are selling for as much as $289 per square foot,” she said.
Also, many of the competing projects in the area won’t be as green, she said.
“Right now, we are targeting a Gold LEED certification,” Harris said. “We think our HERS score will be around 27.”
With the HERS, or Home Energy Rating System index, the lower the score the better.
She also likes the neighborhood.
“We feel like this is a real cutting edge, fresh new community,” Harris said. “It is a true urban infill development in an area that is seeing a lot of sales activity.”
Clarkson Green, which opens next spring, is being built on a site that has been vacant for about three decades.
“I think there had been some homes on the site, but they tore them down about 30 years ago,” Harris said.
Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.