The "bargain" condos at a new Riverfront project start at $1
million.
If you snap up one of the 18 units in The Park at One
Riverfront in the Central Platte Valley, the seven-figure price
tag will buy more than a home in a modern- looking building.
Add access to a half-acre private park in one of Denver's
newest, trendiest neighborhoods.
The condos, built by East West Partners, range in size from
about 1,600 to 2,200 square feet. The top price is $1.5 million,
although buyers are likely to add features that will drive up
the cost.
The development is expected to front the largest private park
in Denver, said Chris Frampton of East West Partners.
"Honestly, I only know about two of them," Frampton said.
"There's this one and the park we did at the Delgany (another
condo project in Riverfront Park). And at Delgany, it is more
like having a small backyard. This is really a good-sized park."
The park is an integral part of the design, said Peter
Dominick, president and chairman of 4240 Architecture, which is
designing the three-story building. East West has hired Dominick
to design seven buildings in Riverfront Park.
"The most immediate impact will be from the views," Dominick
said. "There is a lot of glass, which will make it a lot more
transparent and make the units feel bigger and quite
contemporary. Residents will feel like they are coming home to a
resort."
The Park at One Riverfront will be across Little Raven Street
from Commons Park and between East West's Glass House and its
One Riverfront building. One Riverfront is under construction.
When it is completed in late spring or early summer, East West
will begin the construction of The Park at One Riverfront,
expected to take eight months.
Frampton wasn't worried about the seven-figure starting
price.
"We feel there is some depth to this super-luxury level of
product," he said. "If I looked at it logically, our primary
market would be empty nesters moving out of big houses. But we
just received interest from a young family."
The new units will not be the most expensive condos on the
market in Denver.
Christian Anschutz is selling the core and shell of his
seven-story NorthCreek condo project for $800-plus per square
foot in Cherry Creek North, according to -Realtors.
In addition, condos in the Ritz-Carlton hotel, under
construction in downtown, are selling for about $850 per square
foot. Condos in the Four Seasons hotel, planned for downtown,
are expected to command about $1,000 per square foot.
At a glance: The Park at One
Riverfront
• Developer: East West Partners
• Units: 18
• Size: 1,600 to 2,200 square feet
• Price: $1 million to $1.5 million
• Location: Riverfront Park between the Glass
House and One Riverfront building
• Architect: 4240 Architecture
• Start: This summer
• Cool perk: Access to half-acre private park
in trendy area
Source: Chris Frampton, East West
Partners
Snapshot of prices
Average condo prices at the end of 2006 compared with
Denver's planned The Park at One Riverfront condo project, where
prices range from $1 million to $1.5 million
Metro Denver $180,086
Riverfront Park $700,000
Manhattan, N.Y. $1.22 million
Aspen $1.6 millionSources: Gary
Bauer, Denver; Chris Frampton, Riverfront Park; Prudential
Douglas Elliman, Manhattan; Leverich &Amp; Carr, Aspen
rebchookj@RockyMountainNews.com or 303-954-5207