Units are selling as fast as they're put up for sale at Platte 56, the new 56-unit townhome development along the west bank of the South Platte River, north of Belleview - even though the first units …
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Units are selling as fast as they're put up for sale at Platte 56, the new 56-unit townhome development along the west bank of the South Platte River, north of Belleview - even though the first units won't be finished until early next year. Here's what you need to know:
Location, location, location
Platte 56 is at 5000 S. Prince St., on a dead-end street, sandwiched between an apartment complex, a Walgreens, a shopping center anchored by King Soopers, an RV storage lot and most notably, the South Platte River and the Mary Carter Greenway Trail. Central Development, which is building the townhomes, says there are 39 restaurants within one mile. Downtown is about 10 miles away, and the Denver Tech Center is 7 miles away.
Time is of the essence
The units will be completed in four phases. The first phase went up for sale recently, and each of the 10 units sold within a week and a half, said Jill Schafer, a broker associate with Kentwood Real Estate, which is selling the units. Central Development is taking reservations for Phase 2 now, and expects those 15 units to be offered for sale sometime this summer. Currently, Platte 56 is a construction site featuring a trailer serving as a sales office, though crews are preparing a model rooftop deck so prospective buyers can dig the view.
Platte 56's units range from two to four bedrooms, from three to four bathrooms, and from 1,380 square feet to 2,111 square feet. Most will have rooftop decks. Floor plans have an emphasis on openness and modernity. Upgrade options will be limited, though they'll include some conversions of the floor plans, upgrading the number of bedrooms and extending hardwood flooring throughout a unit.
The grounds will be overseen by a homeowner's association, which will initially be managed by Central Development.
The lowest-priced unit in Phase 1 sold for $439,360, although most were in the mid-$500,000 range. Future phases will range from the mid-$400s to the $600,000 range, with an average price of $555,000.
The median townhouse/condo sales price for Littleton in May was $275,750, according to the Denver Metro Association of Realtors. The median sales price for single-family homes was $421,000.
Know your history
The site has been vacant for decades. The rezoning and development plan was approved by city council last December by a 4-2 vote.
An expedition to find the source of the Platte River led by Maj. Stephen Long camped in the vicinity of Platte 56 on July 6, 1820. Edwin James, a scientist who kept the expedition's journal, wrote of that day: "Our party encamped on a small plain of the river bottom which afforded good feed for our horses - a number of large cotton wood trees to shade us from the rays of the sun - & good cool water from the river."
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