LoDo Designated Best Neighborhood in America by APA
Each year, the American Planning Association (APA) designates their award for the best neighborhoods across the country. In 2010, LoDo (Lower Downtown) in Denver achieved this status, and with reason. LoDo is a vibrant neighborhood on the west side of downtown Denver with great views of the Front Range mountains, and higher peaks behind.
According to the APA, "From railroad boomtown to derelict warehouse district to trendy historic neighborhood, Lower Downtown (LoDo) owes its success to a combination of visionary leadership and political fortitude. Restaurants, clubs, art galleries, shops, and loft residences animate the 100-plus restored red-brick Victorian warehouse and commercial buildings."
Lower Downtown (LoDo) is bounded by Speer Boulevard to the southwest, Larimer Street to the southeast, 20th Street to the northeast, and Wewatta Street to the northwest.
While the APA gave LoDo it highest "Great Places in America" designation for its urban planning and sense of history, LoDo is also attractive for its vibrant lifestyle and abundance of great restaurants, shops and pubs in the area. LoDo's 3,500 residents include families, young professionals, and empty nesters who appreciate the area's proximity to outdoor parks, the Pepsi Center, and Coors Field. Housing options range from stunning, million-dollar lofts to handsome, below-market-rate apartments.
Recent home sales in LoDo (2010 data) show that 59 properties sold in the last 12 months, with an average price of $460,770. The average price per square foot was $294. Currently, there is a four month supply of available properties, which is lower than the average of 7-8 months supply currently seen in the larger Denver market overall. While the majority of condos sold in the price range of $400,000 to $600,000, the second largest price category was $200,000 to $400,000. Now is a great time to find a deal on a condo in LoDo! For information on specific properties in your price range, please contact me!