Colorado Real Estate Journal -
Over the past year, new developments across Denver were announced almost daily. Union Station has plans for the last undeveloped parcel, while the River North neighborhood has plans for a transit-oriented development next to the commuter rail station at 38th and Blake streets. The next market ready to burst is the Federal Boulevard corridor from 52nd Avenue to 72nd Avenue. The 2.5-mile stretch will be bounded by two stops of the commuter rail. The Gold Line, or G Line, to Wheat Ridge will have a stop at 60th and Federal, and the B line will have a stop at 72nd and Federal. Both are expected to be operational by the end of 2016. Currently, the tenants in the area range from car dealerships and mechanics to strip clubs and adult entertainment stores. But as the saying goes, “One person’s trash is another one’s treasure.” The stretch of road has tremendous opportunity to become the next RiNo in terms of investments and surging value. The Westminster station is receiving a face-lift to add a vibrant mixed-use community with a community park and connections to ample park trails. The rail is nearly complete and the parking garage work is in progress to give way to new opportunities for mixed-use development. As you head south on Federal Boulevard, the road improvements are noticeable. The Federal bridge over Little Dry Creek is being replaced and there are new pedestrian-friendly medians along Federal from 52nd to 64th Avenue. The G line will bring eight stations from Union Station to Wheat Ridge, including one at 60th and Federal. Just south of this station a master-plan community is in progress to turn the old Marycrest Campus into Aria Denver. The community will feature apartments, townhomes, co-housing spaces for multigenerational families, retail and some office space, all within a mile of a light-rail station and a half-mile from Regis University. The urban infill project will be one of the largest in Denver and could set the standard for the rest of the corridor. The north end of Federal is part of the city of Westminster’s Urban Renewal Areas, which focuses on improving pedestrian mobility, light-rail access and infrastructure. These improvements have the intent to attract private investment into the area and fuel a transformation similar to what occurred with the stretch of Brighton Boulevard. The Denver Urban Renewal Authority helped finance part of the Marycrest redeveloped to spark more interest in the area. With the light rail and Regis University, it’s a prime location for something similar to what happened near the University of Denver, which has several new development projects within a half-mile of campus. All of the Denver metro area’s real estate markets continue to be attractive to investors, but with Union Station being fully developed and RiNo maintaining its artistic brand, the next location ready to spark is the Federal corridor. Although it is covered with pawnshops, mechanics and adult stores, the corridor has the potential to become a great transit-oriented community. A light-rail stop at either end, a university to the south and a new mixed-use district to the north all contribute to a great recipe brewing along Federal. Cruising down Federal Boulevard might have an entirely new meaning several years from now.