It is hard to believe that it has already been 10 years that this site has been vacant, but three years from now we should see a complete transformation of the old University of Colorado Hospital. According to the Denver Post, construction will start next April on a $180 million project that will have about 500 residences and 350,000 square feet of retail space. The project is expected to be completed in may of 2014.
Though the project is still in the planning process, the vision is that restaurants and shops will front East Eighth Avenue and a natural-foods grocer will face Colorado Blvd at a new street that will run through the site between East Eight and East Ninth avenues. Movie theaters and health clubs also have expressed interest in locating in the development.
It will be exciting to see what the finished project looks like. And for all the people that always ask me where they should invest in Real Estate, this might be a great spot. A redevelopment like this could completely transform this neighborhood. There are plenty of great homes around this area and values around the redevelopment could really take off once it becomes the new hot spot.
A great example is the east Colfax redevelopment and the opening of The Tattered Cover. Homes values in City Park South soared and we could see the same thing here. If you are curious about the homes around this new development, just let me know.