After a four hour public consultation, Arvada City Council approved a development plan for Haskins Station on the border of Wheat Ridge and Arvada. The decision paves the way for rezoning in the area from industrial to residential and allows the development of a new 477 unit community. As for what this means for property management Wheat Ridge companies will depend on the buyers of the units.
The project developer, SSM Ridge, plans to build 5 types of residential units. There are plans for five, three story condominium buildings that will house 168 units in total situated next to 69 townhomes. All these units are located about a quarter mile from the Ward Road G-Line Rail Station.
The plan also includes another 240 single family homes with 86 of them being paired homes with alley access. The alley accessed homes are a new concept that has been recently introduced by builders and appears quite popular amongst buyers.
The meeting featured speeches made by more than 25 residents with those opposed concerned about the lack of infrastructure to service the new population and the density of the new community. Those speaking in favor of the development wondered about issues ranging from affordability to these aesthetic appearance of the community and the diversity of housing types.
Property management Wheat Ridge proponents could see opportunities arising from the development as all the units are available for sale and none will initially be offered as rentals. This fact gives hope to many property management firms that there will be opportunities opening up along the Wheat Ridge/Arvada border.
The cost of the new units (mid-range properties are purported to sell for around $400,000) has been highlighted as a way to allow both younger and retired buyers to gain a foothold in the tight Denver area residential market. There were arguments that development could cause traffic problems, but councillors approved the project relying on the idea that the community would be available to a wide range of buyer types which is something they argued was needed in the area.
For more information regarding residential developments in the areas surrounding Denver, get in touch with the dedicated team of property managers at Woodruff.