Denver boasts three distinct Park Hill neighborhoods — south, north and northeast — but some locals see a fourth part of Park Hill along the streets abutting Stapleton.
The unofficial Park Hill east neighborhood features affordable houses built mostly in the 1940s and ’50s, and with recent foreclosures still gripping the area, home resale prices are falling all the time.
Kathleen Clifford, a broker with Re/Max of Cherry Creek, says the average price for a house in Park Hill’s eastern bloc is about $176,000, far lower than much of the neighboring Park Hill areas. But the first few months of 2008 have seen that average price drop to $145,000, she says.
Blame foreclosure mania for the dip, but Clifford suggests that buying now will be a better investment than in other metro-Denver neighborhoods.
“Because of the area’s proximity to Stapleton, with all its amenities, the area is becoming more and more desirable,” she says.
West of Monaco Parkway, houses in the other Park Hill neighborhoods can average up to $400,000, according to Clifford.
While the other Park Hill areas offer a variety of housing styles, from Tudors to two-story homes, Park Hill east typically offers modest brick homes and row-house types left over from the mid-20th century. A new Park Hill east house, at 2530 Oneida St., marks one of the rare cases of home construction in the area.
Christine Barton, a broker associate with HQ Homes in Denver, says location makes the eastern section of Park Hill a plus for homebuyers.
“You can’t go wrong buying that close to the city,” Barton says.
The area’s brick ranches, which hearken back to military-housing districts, offer generous property just waiting for future expansions, she says.
Stapleton’s proximity may not be helping lift housing prices now, but she says that will change in the coming years.
Arthur Rosenblum, co-editor of Greater Park Hill News, agrees, saying the Stapleton factor gives the eastern Park Hill homes an edge over other Park Hill areas.
And a transformation is underway at a formerly depressed shopping plaza at East 23rd Avenue and Oneida Street, where a popular Thai restaurant, Spicy Thai, and South Philly Cheese Steaks now operate.
“This appears to be a step in the right direction,” Rosenblum says.
Denver police Community Resource Officer Amy Esten grew up in the eastern Park Hill area and says the demographic makeup is the same now as it was then.
“It’s a real diverse neighborhood that has a lot of good resources you can’t find everywhere else,” Esten says, adding that the area has more of a family feel than other Denver neighborhoods dominated by chain-owned stores and restaurants.
The area’s crime rate compares favorably to other places in northeast Denver’s District 2, she says.
“You don’t see a lot of violent crime, just more crimes of opportunity,” she says.
This part of Park Hill can’t be found on any map as an official neighborhood designation, but the local residents have a different perspective on Park Hill east.
“It’s what people called it when I was a kid,” Esten says.
Bonnie Cox, a Realtor with Re/Max Masters, says bargain hunters might want to look at the homes along Quebec Street if investment is their concern.
“That’s probably the best buy of all,” she says of the street, which appears to be in worse shape than other parts of Park Hill’s eastern section. Cox envisions the corridor being reborn in the coming years.
“Hold it a little while and you’re bound to make money.”
The unofficial Park Hill east neighborhood
Who lives here: Blend of longtime residents and first-time homebuyers. Ethnically diverse.
Home prices: $86 per square foot up to $210, according to Realtor Bonnie Cox.
Main attractions: The historic buildings on the Johnson & Wales University campus; proximity to Stapleton.
Common complaints: Could use more programs for children.
Schools: Hallett Elementary School, Johnson & Wales University, the Denver School of the Arts.
Shopping: Proximity to shopping plaza at corner of Kearney Street and East 22nd Avenue including popular Oblio’s Pizzeria, Tables and Perk Hill Cafe. Second plaza on Oneida Street features Spicy Thai and South Philly Cheese Steaks.
