December 2016 Riverfront Recap

Happy New Year… and welcome to 2017!

Last year was another great year for real estate in Riverfront Park and Denver, in general. While the year started slowly, Riverfront Park experienced a significant uptick in momentum through the fourth quarter and ended the year eclipsing the previous year’s production by one unit. This year there were 103 sales in Riverfront Park. Since 2013, the neighborhood has experienced at least 100 real estate transactions per year. What’s more, this year was also the first time since 2013 in which every building experienced at least one sale. As a whole, Riverfront Park has established a trend in which one can expect an annual neighborhood turnover between 8% – 10%.

As previously mentioned, the fourth quarter push was incredible and not only did it provide the momentum required to eclipse last year’s volume but December 2016 was also the most productive month in Riverfront Park real estate in the past two years. Let’s take a glance at the breakdown of sales by month as well as a close examination of each of the sales in December:

There is a lot to be excited for in Riverfront Park this year. So what can we expect to take shape in 2017? Well…

  • The Confluence, the new 34-story hi-rise apartment tower has reached its maximum height and the glass façade is quickly taking shape. If construction continues as planned, by fall of this year we should have a complete addition to the neighborhood offering 288 luxury apartments and 8,600 SF of ground floor retail space.
  • AMLI Riverfront Green. Located directly across Bassett Street from the Glass House, the new apartment complex will rise seven stories and encompass 304 units.
  • Parkside Apartments. The final remaining parcel of land in Riverfront Park proper, construction has commenced on the four and seven story, 161-unit apartment building.
  • 1700 Platte Street. The new mixed use building rising from the ruble of the former Empire Staple building. The finished product will offer 210,000 SF of office space in addition to 9,300 SF of retail space overlooking the Platte River.
  • The Circa Building. Located adjacent to the Highlands Bridge on Platte Street, the new project will contribute 80,000 SF of office space and 10,000 SF of restaurant and retail space to the neighborhood. Better yet, the new façade will act as a buffer between Riverfront Park and I-25.
  • Platte Fifteen. Targeting the parcel of land currently occupied by Natural Grocers, Confluence Kayaks and its accompanying parking lot, the proposed project is a five story building that will bring approximately 14,000 SF of ground floor retail and an additional 135,000 SF of office space. Construction is scheduled to commence this year with completion in 2018.
  • Shoemaker Plaza. Marred by unforeseen environmental issues and increasing costs, renovation of the plaza has taken a couple of years but, with construction underway we should see a completed project by the end of the year. The new plaza in conjunction with a polished landscape below The Confluence will transform one of the most beloved areas of the neighborhood.
  • And finally, we can’t forget pre-sales of the Coloradan. We have been watching this project closely and all signals indicate pre-sales will begin sometime during the first quarter. If you’d like to know more about pre-sales as soon as information is released, be sure to sign-up for alerts via our project page.

Here’s to a great year!

Cheers,

Adam Moore
milehimodern
LIV | Sotheby’s International Realty 

Mobile: 303.956.8069
255 Clayton Street, Unit 100
Denver, CO 80206

Recent Sales Information

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