Quote:
Originally Posted by mhays
Land in the urban core is expensive (rising at double-figure percentage rates per year apparently). That's related to a lack of supply.
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I suspect it's hard to be relevant or knowlegible about cities you're not familiar.
Generally, to the west and north of the CBD was industrial which became brown fields. Going back ~15 years the first area to be reclaimed and redeveloped into relatively dense residential was Commons Park.
The next area of brownfield to be reclaimed started with the $450 million Denver Union Station. The defined neighborhood was divided into Block A, Block B etc. The timing was perfect for TOD. This area developed out in warp speed with generally 10 to 15-story buildings of all types.
To the west of downtown across the freeway is the Highlands an old generally historical housing area. The eastern part, the area between Federal Blvd and the freeway is known as LoHi; more of a mixed bag it has seen substantial redevelopment into primarily mixed density residential which continues. Part of LoHi crosses the freeway toward downtown. This has become primarily an area of niche office space with strong appeal.
Down the hill from Coors Field lies the original RiNo area; lots of wholesale fruit and vegetables etc. Redevelopment started as an industrial chic area and has morphed into lots of medium-high density residential. This 'reclaimed' area is roughly 4 blocks by 12 blocks and currently it's ~one-third developed. Then 3 more blocks on the other side of the tracks were redefined as also part of RiNo. Roughly 3 blocks by 15 blocks this mixed use and eclectic area is maybe 25% redeveloped.
Scarcity is a relative term and in Denver's Urban Core the amount of land has grown dramatically over the last 15 years. Also consider I've only highlighted maybe 40% of the area for what was once the unloved periphery. There's still room for decades of redevelopment. Is the area subject to escalating land costs? Does a bear shit in the woods?