Not too long ago, decaying factories and closed storefronts would have been all that greeted you when you traveled through Denver’s RiNo district. In fact, traveling through was what most people did as nobody wanted to stick around long. The artistic community saw the potential in this area and moved in, turning abandoned shops into artist studios and living spaces. They may not have been up to code, but the area started to gain a sense of life that had all but disappeared. Developers started to look at the RiNo district a bit closer and started to see the potential, not only for the artist community, but for the city as a whole.
Making Plans
Developers wanted to keep the uniqueness of this neighborhood, and this was made possible by including those who called the area home in the plans. Artists of all types started to find ways to open shops and create living spaces that were affordable. More developers took notice. The area began to grow as improvements were made and plans arose for future development. The idea remained to create a thriving community that was unique, affordable, and economically good for the city.
A Two Year Fight
Recently, developers have won a long, two-year fight that will allow them to renovate the buildings they can, build where they need, and build higher than what was previously allowed by city regulations. This came about because they agreed to provide more affordable living space for Denver’s mid-income citizens. This includes the artist community members that were starting to find places outside the area. Construction has currently begun on buildings as high as sixteen stories that will offer one to three bedroom apartments for rent ranging between four and twelve hundred dollars a month. The bottom floors of this area will include retail space that allows local businesses and artists to open up shop at reasonable prices.
What This Means For Denver
Within five years, what was once nothing more than a broken down area will see thriving businesses and residents who can afford to live in decent housing. The artistic feel of the area will stay intact, making this an area ripe for tourists and those seeking unique shopping experiences. Not far from the area are business offices and the city’s railway system that runs through the area. This adds up to a thriving area that helps the city as a whole but also creates a neighborhood not found in other places of the country – an area where art, business, and daily life come together as one.
To find out more about RiNo district commercial real estate listings and to see how Unique Properties can help you in your search for property investments, contact us today.
Featured image: Khongtham/Shutterstock
« Previous Next »