DENVER-In an unusual and what could be a precedent-setting move, neighbors in Curtis Park, a historic northeast area near Denver’s Central Business District, bought three lots that were earmarked for a 22-unit apartment complex. After paying $151,000 for the lots, 17 neighbors from all walks of life, will develop a four-unit townhome on the land.

Each unit will sell between $200 per sf and $250 per sf, the low end of new urban construction in Denver. Units likely will range in 1,500 sf to 1,600 sf in size, for a price tag of $300,000 to $400,000 each.

The project will be designed by a fledgling architectural firm in the neighborhood, In Sutu Design, for a reduced fee. And architect Cathy Bellem is acting as the developer for no fee.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.