UC Denver, Anschutz Medical Campus, Aurora

[USAEconomy]

Congrats on your purchase neighbor!

Some of the renovations I've seen in this neighborhood are awesome! You wouldn't think it from the outside but ...wow
Others have NEVER been updated ...mine was a nasty fluorescent peach when I bought but I repainted beige and it looks very "Pottery Barn" with the hardwood floors.

[cmcelvany]

Another area to look into is North of the Campus. I just bought a foreclosure on the Sand Creek Trail that backs up to Fitzimmons Parkway for less than 90k. That's 1/2 of the price the home sold for in 2005. It's a brick ranch 3/1 with a full basement. I am about a 3 minute walk to Campus through the park. Within a couple of years, after the whole foreclosure crisis and once the area development nears completion, I will likely double my money.

It is in Morris Heights F3.

[XAFLOC]

Originally Posted by USAEconomy

Attachment 15998
Despite the notorious Colfax proximity, I see the Jewell Heights/Hoffman Heights neighborhood as an amazing house-buying investment opportunity for the select group of people that work/attend UCD-AMC and will be here for at least 5 years.

Although Colfax my not be an asset to your property value now, there are efforts underway to improve the street from Capitol Hill all the way to Fitzsimmons. The city of Denver has embraced the street for urban renewal, creating special zoning tailor-made for Colfax. Aurora is obviously seeing some great changes to the street with the new Fitzsimmons campus. And the East End Arts District near Colfax and Dallas is slowly making progress.

There is also a study underway to investigate the possibility of a street car line that would run from Capitol Hill to Fitzsimmons. Investors are starting to see the potential that exists along this corridor. St Charles Town Company recently announced a plan to build a 252-unit mixed-use housing development on the site of the Church in the City building at Colfax and York. There is another mixed used development in the works for the empty lot on Colfax and Pontiac. And the Blueprint condo project across from the Bluebird Theatre is already being built.

Less than ten years ago, people would have laughed at the idea of new development along Colfax. I wouldn't be surprised to see even more dramatic changes in the next ten years.

[steveindenver]

Another area to look into is North of the Campus. I just bought a foreclosure on the Sand Creek Trail that backs up to Fitzimmons Parkway for less than 90k. That's 1/2 of the price the home sold for in 2005. It's a brick ranch 3/1 with a full basement. I am about a 3 minute walk to Campus through the park. Within a couple of years, after the whole foreclosure crisis and once the area development nears completion, I will likely double my money.

I'd like to agree with you but I feel that is not likely. The prices were run up from 02-05 well beyond reality. The amount of fraud in that area elevated appraisals to an unprecedented level -- which of course affected the comps in the area.

In reality most of the homes in the area were worth 135-155 at the peak, the extra 50-60 you see during the 05 run up was fraud.

[Katiana]

Originally Posted by XAFLOC

Although Colfax my not be an asset to your property value now, there are efforts underway to improve the street from Capitol Hill all the way to Fitzsimmons. The city of Denver has embraced the street for urban renewal, creating special zoning tailor-made for Colfax. Aurora is obviously seeing some great changes to the street with the new Fitzsimmons campus. And the East End Arts District near Colfax and Dallas is slowly making progress.

There is also a study underway to investigate the possibility of a street car line that would run from Capitol Hill to Fitzsimmons. Investors are starting to see the potential that exists along this corridor. St Charles Town Company recently announced a plan to build a 252-unit mixed-use housing development on the site of the Church in the City building at Colfax and York. There is another mixed used development in the works for the empty lot on Colfax and Pontiac. And the Blueprint condo project across from the Bluebird Theatre is already being built.

Less than ten years ago, people would have laughed at the idea of new development along Colfax. I wouldn't be surprised to see even more dramatic changes in the next ten years.

The OP is a student and may not live here long enough to see any big change in the neighborhood.

[XAFLOC]

Originally Posted by steveindenver

I'd like to agree with you but I feel that is not likely. The prices were run up from 02-05 well beyond reality. The amount of fraud in that area elevated appraisals to an unprecedented level -- which of course affected the comps in the area.

In reality most of the homes in the area were worth 135-155 at the peak, the extra 50-60 you see during the 05 run up was fraud.

I would agree that predicting that your property will double in value in a couple of years is overly optimistic. With that said, 90,000 seems like a good buy for a house located so close to both the Fitzsimmons campus and Stapleton.

People have to realize that neither Stapleton nor the areas surrounding Fitzsimmons will be fully developed within a couple of years. Even after these areas are finished, it will take some time for the average home buyer to see these surrounding areas as attractive neighborhoods.

With that said, I think now is a great time to buy in these neighborhoods, as long as you truly wish to live there for the foreseeable future and aren't just trying to make a quick buck.

[USAEconomy]

One of my classmates bought in Morris Heights and loves it cmcelvany. :-) I didn't buy there because it is so much farther walking, with the golf course in between there and most of campus. The sand creek trail is surprisingly nice though. I go running on it.

I've already witnessed a huge transformation of the area and it is only picking up the pace. When I moved here all the no-tell motels were open for business and now they're leveled & soon to be replaced by the things I mentioned in the opening post. The campus is a completely different place as well and as soon as the surrounding amenities are built it will be pretty self-sufficient.

On a side note, the student body here is not like an undergrad student body where we all pay big bucks, rent, and leave. We train health professionals & grad students who get stipends and are here for many years. Many end up getting jobs here and stay indefinitely. I enjoy seeing people move into places in walking distance of campus. It reduces commuter air-pollution, encourages healthy walking & biking, enlivens the surrounding community, & makes campus feel like an actual campus instead of some sort of 9-5 DTC.

They started the Fitzsimons Promenade construction officially on July 28th. There will be a Qdoba there and should be starting the layout for that building today.

[Ticky909]

gah....i start on the 11th at ucd - park'n'ride everday