Student teams vie over site
Two teams of real-estate students are creating redevelopment plans for the East Ninth Avenue and Colorado Boulevard site as part of the 2007 Rocky Mountain Real Estate Challenge.
The teams, from the University of Denver and the University of Colorado, will create a master plan for the site while trying to maximize the return on investment.
Shea Properties, which is sponsoring the competition, has been selected to develop the 32-acre site east of downtown when CU moves its Health Sciences Center to its new campus at Fitzsimons in Aurora.
The competition involves research, financial analysis, problem solving and presentation development.
The presentations will be made from 5 to 8 p.m. April 26 at the Hyatt Regency Hotel at Colorado Convention Center.
Complex to be affordable
Thistle Community Housing has purchased the Cannery, a three-building apartment complex in Longmont that will be preserved as affordable workforce housing.
The 94 rental units will serve income-qualified households. The project is located near downtown on major public transportation routes. Amenities include a heated swimming pool, playground and fitness center.
Home to be near-zero energy
Next Generation Energy and Sun Electric are building a near-zero-energy home in Old Town Louisville.
Solar energy will produce all of the home’s electricity and up to 90 percent of its heat and hot water.
It’s also the first residential home with a state- approved gray-water system that recycles bath and shower water to the toilets and garden.
The three-bedroom home will be completed and for sale this spring. The asking price is $599,000.
Staff writer Margaret Jackson can be reached at 303-954-1473 or mjackson@denverpost.com.
Mortgage rates lowest since start of year
National rates on 30-year mortgages fell for a second straight week to the lowest level since the beginning of the year. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.18 percent last week, down from 6.22 percent the week before. Below are average mortgage rates in Denver, Adams and Arapahoe counties as of Friday and the previous 52 weeks. The one-year Treasury bill average reported by the Federal Reserve Bank is 5.05 percent. The Cost of Funds Index for January from the Federal Home Loan Bank (11th District) was 4.392 percent.
