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Five Points Turnaround Sparks $3-Mil Condo Project

DENVER-The Five Points neighborhood's new image has jumpstarted a 16-unit condo project. It's taken a couple of years, but no longer is the area carrying stigmas of high crime and low-income families. Five units already have been sold, fetching a starting price of $139,900.

By John Rebchook | Updated on March 27, 2001

DENVER-A residential real estate broker is tackling a 16-unit, $3-million condominium project in Five Points, long considered Denver’s most crime ridden and poorest neighborhoods. But Dave Christie, an agent with Keller Williams, says concerns about the northeast neighborhood are overblown and he thinks his Ellington project at 2422 Tremont Place, will be a big hit. “I know the perception may still be there that there’s a lot of crime, but it’s not the reality,” he tells GlobeSt.com.

Christie says the neighborhood, with the city’s help, largely has cleaned up its act in recent years. His property is just a few minutes drive from such hot neighborhoods as Lower Downtown as well as a mere two blocks from the light rail line, which currently links Denver to the southwest suburbs.

Units will start at $139,900 and go up to $225,000, which is comparable for most new condo construction in the inner city, he notes. Units range in size from 515 sf to 1,000 sf.So far, he’s taken reservations for five of the units. “I thought mostly men would be the buyers, but I’ve been surprised that it’s been mostly women buyers,” he says. “We’ve pre-sold to three women and two men.”

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