Off to an auspicious start, metro Denver's FasTracks has buoyed growth along every corridor the new rail lines service, inspiring residential and commercial development on a grand and sophisticated scale. Single-family residences are giving way to high density, mixed-use developments, from the fringes of downtown Denver to the terminus of the southern rail corridors in suburban centers like Aurora, Lone Tree, and Littleton.
Growing up in the age of the automobile, metro Denver's infrastructure evolved to accommodate the popular transportation mode of the day. But in the half-century from 1950 to 2000, the population in the metropolitan area grew fourfold, from just over 600,000 to nearly 2.5 million. Continuing to add to that infrastructure without offering sensible, cost-effective alternatives would have cost the city dearly. Denver businesses, residents, and local and regional governments recognized problem, discussed the possible solutions, and out of those exchanges were born the FasTracks and T-Rex transportation programs.
With these dynamic programs comes a huge demand for small urban centers
providing easy access to transportation, housing, employment, shopping and entertainment venues. These Transit Oriented Developments (TODs) continue to thrive and grow in popularity among homebuyers, even as the rest of the residential real estate industry experiences difficulties.
"As Denver's population ages and young, sophisticated, highly-educated urban dwellers continue to make up a large portion of the growth and influx in metro Denver, the demand for highly walkable, vertical, mixed use communities with great access to public transportation will fuel the growth," said Scott Thompson, Broker Owner of Denver-based Storm, Inc., a leading residential real estate firm. "New Transit Oriented Developments continue to outpace the rest of the Denver market, and it's an area in which we are actively specializing."
The huge scope of the T-Rex and FasTrack transportation measures provided developers and homebuilders with ample lead time to conduct market research and put together exceptional choices for homebuyers.
"It can sometimes be very frustrating traveling within the city by car," said Julia Sherman, Community Sales Manager at Vallagio at Inverness, one of metro Denver's largest Transit Oriented Communities from Metropolitan Homes. "From scarce and pricey parking at work or sports and entertainment venues in downtown, near the city center, or at Park Meadows, Light Rail provides a very practical choice for getting around town. Our extensive research prior to the creation of Vallagio pointed to its potential popularity, and ultimately, a long-term value enhancement of the neighborhood."
When FasTracks is completed, combined light rail and commuter rail will allow riders to travel over 122 miles of track, from Longmont in Boulder County to RidgeGate in northern Douglas County, to Denver International Airport in Adams County.
Carl Burnell is among the 250 individuals and families to purchase a home at Vallagio at Inverness during the past year. Burnell and his wife, Becky, traded their single-family home in southeast metro Denver for one of the golf villas at Vallagio.
"We loved the area around Vallagio, the restaurants, shopping and future potential of the commercial aspects of the project, and we didn't see the value of our former home increasing in the foreseeable future," Burnell said. "It's great having Light Rail at our doorstep. Our son has a pass, and takes the train to school, and heads to Park Meadows without having to ask us to drive him. He loves the freedom, and so do we. Having the restaurants and shops right at our doorstep is incredibly convenient, and its only going to get better as the community is built out."
To learn more about the opportunities to live in metro Denver's most desirable, Transit Oriented Developments, call Broker Associate Sean McAleavey with the Storm, Inc. Team today at 888/814-0555 or visit the website at www.stormsells.com with links to exciting Transit Oriented Developments in metro Denver from builders like Century Communities and Metropolitan Homes.
