CREJ

Page 20

— Multifamily Properties Quarterly — February 2017

Personal attention. Powerful resources.

Choose a facilities management partner backed by the power of RK.

rkmi.com/service |

Denver 303.576.9696

Mountains 970.476.9696

TOUGH CHALLENGE? NO PROBLEM!

RK Service recently installed 12 RTUs on

the roof of a local mall by using a helicopter.

Colorado’s top property management companies rely on RK Service to ensure

that their buildings operate smoothly and efficiently. From planned maintenance

agreements to one-time emergencies, we service all heating, cooling, plumbing

and electrical systems – and we can tackle complex projects that others can’t.

RK Service offers all the resources of RK, the region’s largest and most capable

mechanical contractor.

From our journeyman-level technicians to our plumbing

and HVAC fabrication shops, we’ve got the power to develop customized

solutions for any facility or mechanical challenge.

• HVAC / Refrigeration

• Plumbing

• Drain Cleaning

• Electrical

• Excavation

• Facilities Maintenance Staffing

• Planned Maintenance Agreements

Denver

Business Journal

Top 100

Mechanical Contractors:

in 2016

2015

Engineering

News Record

Top 50

U.S. Mechanical Firms:

in 2016

Market Trends

hile there is a scarcity of

for-sale condominiums

available in Denver, a dif-

ferent product type – row

homes – is filling the void.

There are several row home devel-

opments underway in Denver, and

the individual-home design of row

homes is preferable for buyers who

don’t want to live in a multistory,

multiresidence condo building.

Row homes are a natural evolution

of the densification of any urban

area. In cities with longer histories

on the East and West Coasts, the

row home is the standard for living

in areas that provide a pedestrian-

oriented environment. Think George-

town in Washington, D.C., Lincoln

Park in Chicago, Beacon Hill in Bos-

ton or Pacific Heights in San Fran-

cisco. These are walkable neighbor-

hoods, where residents are accus-

tomed to the density, while also

enjoying the intimacy and privacy

afforded to them by a row home.

This is relatively new product type

for Denver, but as the city contin-

ues to evolve with the desire for all

demographics to live in a location

where you can “walk to the coffee

shop,” it will continue to be a more

common style of home. It also is

becoming a popular substitute for

people who aren’t able to find or

afford a condominium to live in,

because of a lack of availability, due

in large part, to the construction

defect laws that have been hamper-

ing condo development in Denver

for the past several years.

Not only is there a lack of avail-

ability of condos, but also the condo

lifestyle doesn’t

appeal to everyone.

Row homes pro-

vide buyers with

the autonomy of a

detached, single-

family home with

a private entrance,

private garage and

private outdoor

space, combined

with the lock-and-

leave, low-mainte-

nance benefits of

a condo building,

without being on

top of or below

another unit.

Some of the features of a row

home include:

• Outdoor spaces.

Row homes are

designed to provide residents with

their own private outdoor spaces.

Whether it’s a rooftop terrace (com-

plete with a garden or lawn) or a

fenced-in courtyard, people can take

a few steps and be outside. The out-

door spaces provided in a row home

are an especially desirable feature to

dog owners, who want as much con-

venience as possible for their pets.

• Wide-open floor plans.

Because row

homes aren’t stacked on top of each

other, nor are they as confined in

design as a condominium building,

there is a greater opportunity for

open floor plans. For example, inte-

rior condominium units are natu-

rally boxed in by neighboring units,

meaning there is only one outdoor

view. Row homes don’t have the

same confinement, and residents

can enjoy more ample, natural light

sources from near-

ly all of the rooms

of their house.

• Great economy.

Row homes can

provide a better

economy, in terms

of space and price.

For example, the

average new con-

struction condo

will cost upward

of $450 per square

foot, and row

homes, in many

areas, are below

$400 per sf, accord-

ing to Metrolist.

• More privacy.

Row homes pro-

vide a level of privacy that a condo

building can’t achieve, based on

design and the number of people liv-

ing in the development. The owner

of a row home can enjoy entering

his own front door, as opposed to

a lobby entrance that is shared by

other residents. A row home owner

doesn’t have to ride on elevators

with strangers, bump shoulders

with people he vaguely knows in

a mail room, share common areas

(both indoors and out) with others

or worry about his dog getting into

a scrap with a fellow canine in a

public space. Row homes often pro-

vide private garages with additional

storage space. All of these features

provide more privacy and the ability

to interact with neighbors at your

choosing.

Liz Richards

Broker associate,

Kentwood City

Properties/Perry

Row at Sloans,

Denver

Row houses gain popularity in tight condo market

Sprocket Design Build

Perry Row at Sloans in northwest Denver, located at 1600 Perry St., is a row home

project one block from the lake, with units ranging in price from $489,000 to $825,000.

Deviree Vallejo

Broker associate,

Kentwood City

Properties/Perry

Row at Sloans,

Denver