Five Parks (Denver, Lakewood, Arvada: for sale, rentals, condo)

[wi0904]

We looked at an area called Five Parks which I believe is in Arvada. Anyone know anything about this area, how well it liked etc? For a new area with what appeared to be a lot going for it, we saw a lot of homes up for sale. Was wondering why so much turnover for a new area.

Thanks

[2bindenver]

Five Parks is a subdivision in Arvada, developed by Village Homes.

With any community there are people moving in and out. I don't see that there are more homes than normal on the market.

Some people move into a new house, then their circumstances change - new job, new spouse, new kids, etc....so their housing needs change with their new life.

Personally, I like Five Parks, and the "village" that Village created. Lot sizes are small, but the community is huge.

[Rootsy]

I have friends that used to live in Five Parks. They loved it, being able to walk to the neighborhood coffee shop and take a yoga class 2 blocks from home. They have a free concert series in one of the parks each summer. The area seems to be populated with a lot of young families with kids and couples thinking about joining the ranks. My friends moved because they had a second child and wanted to get closer to I-25 to reduce work travel times.

My parent's live near Five Parks and it looks like they are now developing some condo/townhomes off Indiana. The whole West Arvada area is really booming with commercial and residential developments lately. That area is really a great location. 15-20 to downtown, 40 to the airport, 25 to Boulder, 10 to Flatirons/Interlochen, 10 to Golden and that much closer to the mountains.

[rockiesredhead]

I live just south of Five Parks in west Arvada. Five Parks is a desirable new area in Arvada, close to Stanley Lake. It has nice amenities with the outdoor pool, the ampitheater and the small shops nearby. It also has a brand new elementary that just opened in the fall. The location is great -- close to the foothills for easy access and just south of the Flatirons and the Flatirons shopping mall. The Apex Center, one of Colorado's nicest community centers, is just minutes away. The only downfall is that the yards are pretty small, which is typical for these newer developments. Also, we do get high winds on the western side of the city, but it's worth it since we're so close to the mountains. As for the turnover, I'm assuming like many new popular areas, some of it may be attributed to people buying in a variable rate mortgage environment and overextending themselves, only to find that the higher interest rates are cost prohibitive. I know a lot of newer developments are experiencing the same predicament. Anyway, the people around here are awesome -- it's easy to make friends and get your kids involved in activities.

[FreeHat]

I've been looking to buy in Five Parks but too concerned that there are so many homes for sale. Not a single home has sold in all of 2008 in the Five Parks neighborhood north of 86th. Comps from late 2007 all headed downward. They have 13 homes now listed on that side of the neighborhood and no sales.

If you looked at this neighborhood and decided against it, why? Too far from highways/work? Overpriced? As much as I'd like to live there because it is a great neighborhood and good homes, the investment of moving there is sounding too risky in this market. By my numbers, every home in there needs to drop listing price by $50k just to follow the trend established when their were sales in late 2007.

[phugg]

I grew up in the Denver Metro area and now we are returning to Colorado with our family.
We've looked at Five Parks, but isn't it really close to Rocky Flats, and isn't that a good reason for steering clear?
Also, is the school there that opened recently called Meiklejohn?
What makes this neighborhood worth the prices?

[rand1234]

Phugg: Rocky Flats has been gone for a few years now, it is currently a "National Wildlife Refuge" Rocky Flats Plant - Wikipedia

I am curious about rentals in the Five Parks neighborhood. I couldn't find anything obvious online, and was hoping for a point-of-contact. Basically I'm looking for a studio/1BR in a modern neighborhood near Arvada/Lakewood. Any ideas?


-Carl

[Althea]

Does anyone have any information about rentals in the Five Parks area?

Thanks!