Last night John and Brian attended the Spire Grand Opening VIP event.   We had high expectations with this being the most anticipated loft project in Denver in recent years.   The event and the details on the project were more than impressive and exceeded even our highest expectations.   We estimate over 1000 prospective buyers, investors, realtors and other interested parties attended the event €“ a rarity to see any housing project demand such attention!

Here is what we learned. The Spire will feature 41 different unit types/floor plans, with a total of 496 units available. Owners will be able to close on these properties and move in before the end of this year. Thirty percent of the units will be priced under $300,000. The one bedroom units start at $212,000 which is amazingly low for the location regardless of amenities (the building is located at the corner of 14th St. and Champa St., right next to light rail, the Denver Center theater district and Colorado Convention Center). We walked the 1 bedroom unit in the experience center and were impressed by the functionality of the floor plan.   The level of finishes in the models were also excellent; an area we were concerned about when we first heard the low price points that these lofts are being offered at.   The two bedroom units start at $300K; again impressive for the area and level of finishes.   Parking is offered as deeded spaces starting at $26K and going up to $50K for premium locations in the garage.   The HOA was also good news; right now projected at 31 cents per square foot €“ very low for the amenities the building will offer.

Here is an overview of the amenities we learned about last evening:
-      Ground floor retail with everything from rental cars to restaurants, just an elevator ride away
-      Dog park on the 3rd floor
-      Two swimming pools and hot tubs with spa-quality, unique designs
-      Outdoor fire pits and grills for entertaining
-      Full gym with yoga studio
-      Sports zone media lounge – somewhat like an ESPN Zone atmosphere
-      Club lounge
-      Very large multi-media theatre room where residents can invite friends for private screenings or parties
-      Storage rooms available
-      Secure delivery area for dry cleaning, packages, etc.
-      200 channel Direct TV and ultra high speed internet package for $75/month
-      24 hours receptionist area with concierge services

These were just the amenities we were able to discover through conversation with the developers.   They don €™t have any printed literature yet available outlining everything the building will have to offer.

On the financing side, the property is FHA compliant.   Thus, for as little as 3% down, buyers will be able to purchase a Spire loft. Further, only 20% of the units will be able to be purchased by investors.   We expect these investor units will be sold in a matter of days once they are released due to the ease of rental and opportunity for significant appreciation (remember the Glasshouse?).

We are currently scheduling private appointments for our clients at the Spire experience center.   To obtain the opportunity to purchase our clients will need to register in the lottery system the developer has put in place.   The drawing for purchase positions will occur on April 4th and final pricing for each individual unit will be released at that time.   We highly recommend registering for the lottery as it is not a commitment to purchase but does give our clients the opportunity to select premium units should they get drawn high enough in the order.   Please contact us today to schedule an appointment at the experience center and see for yourself all that the Spire has to offer.

Your Denver loft experts,

John & Brian