The uptick in the housing market has developers Hayden and Barry HIrschfeld dusting off plans to build three single-family homes and 17 townhomes at Asbury and Downing Street.
The Hirschfelds mothballed the project in 2008, when the housing market hit the skids.
"We’ve just been waiting to see what’s happening in the market, and the market looks like it’s perking up," says Hayden Hirschfeld, who also is a broker with the commercial real estate services firm
NAI Shames Makovsky. "We’re getting a lot of calls from people who are interested in buying."
The property has been rezoned to change parking and business zoning to a Planned Unit Development (PUD), which is a site-specific zoning that is applicable only to that site.
Though design for the homes on the 31,000-square-foot site were completed several years ago, it could change, depending on what the market demands, Hirschfeld says. Pricing for the homes also has not been set, as the developers determine what the market will bear.
"When we decide to restart it, we’ve got to look at everything again," Hirschfeld says.
PricewaterhouseCoopers and the Urban Land Institute named metro Denver one of the country’s top 20 real estate markets to watch this year in the "Emerging Trends in Real Estate 2013" report.
The report also ranked the metro area eighth among promising investment markets, moving up three spots from the 2012 report because of "strong growth potential. ... An attraction is the city’s central location in the country’s southern and western regions, as well as Denver’s ever-expanding international airport."
The report ranks Denver 14th in development prospects and 15th in homebuilding.
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