Creativity and short supply spur Denver’s newest neighborhoods (+ their nicknames)
Denver’s rapid growth has sparked hot, “new” neighborhoods, as both residents and developers search for solutions to the city’s housing shortage.
When home prices soar in any city, a game of neighborhood shuffle occurs. Higher-income residents fill the historically desirable neighborhoods and those more on the margin seek out new niches.
[Denver housing shortage contributing to homebuyer migration]
Low supply or high prices push developers look elsewhere to meet demand. Over the past decade in Denver, this game is as apparent as ever.
Some balk at the idea of these locations as “new” neighborhoods, calling them just creative ways for real estate agents or developers to sell more homes.
However, understanding these up-and-coming ‘hoods supports a comprehensive view of the Denver neighborhood real estate scene. I highlight three these upcoming Denver real estate hubs here.
SloHi (Sloan’s Lake/Highlands)
SloHi is an emerging neighborhood located north of Sloan’s Lake and southwest of Highlands. The area can be identified by 26th Ave to the south, 29th Ave to the north, Sheridan Blvd to the west and Federal to the east. The area is north of Denver’s largest body of water, Sloan’s Lake. The lake and surrounding park offer some of the best views of the city and the mountains.
[Top 5 Denver Mountain Home Markets]
According to Redfin, the ‘hoods average home sale price is $778,000, up a whopping 27.4 percent from last year. Many of the single-family ranches here are being converted to modern townhomes and there are a few condo developments.
Highlands, to the northwest of Sloan’s Lake, is beginning to bleed into the neighborhood, spawning the unofficial name of SloHi. It is a great Denver neighborhood, home to local favorites such as Little Man Ice Cream and the Denver Beer Company.
RiNo (River North)
“RiNo” is Denver’s designated art district and perhaps the city’s icon of industrial revival.
Old warehouses and factories now host hip jazz bars, studios and restaurants. Graffiti murals and punk art are commonplace.
Located south and east of the I-25/I-70 interchange, the ‘hood sits north of downtown on the South Platte river.
Many loft-style apartments are currently available and condominiums are popping up due to rezoning and development efforts.
[Denver neighborhood market update]
The area is picking up major traction. Travel guide Lonely Planet named RiNo a top 10 US neighborhood to visit in 2017.
Continued development and repurposing, plus its proximity to Coors Field, downtown and the commuter rail, should help this ‘hood continue to pick up steam.
SoBo (South Broadway)
“SoBo” marks rapidly growing portion of South Broadway from I-25 to the north to Evans Ave to the south.
You likely know South Broadway in Wash Park (from I-25 north to 1st Ave), which has long been known as an eclectic mix of bars, vintage stores, art galleries, boutiques and live music venues. South of Alameda Ave on Broadway lies “antique row,” home to nearly 100 antique shops in under 20 blocks.
Also, check out the historic Mayan Theatre.
“SoBo” is further south along Broadway. It has close proximity to Platt Park, making it no surprise this neighborhood is up-and-coming.
Homes from South Broadway west to I-25 are small, traditional and tend to go fast. The neighborhood is walkable and popular with a younger folks.