The downturn in the residential real-estate market has prompted developers Dave Morovitz and Scott Ray to shift gears on a project they had planned in Curtis Park.
Instead of town homes priced from $500,000 to $700,000, the site at 25th and Champa streets will feature “systems-built” homes priced from $347,000 to $367,000.
“Nothing is being built in this neighborhood for under $500,000,” said Bill Verdon, a broker at Kentwood City Properties who is marketing the project, called Traverse. “That’s kind of a needed price range.”
Under the systems-built construction method, the foundations are poured and the first floors are built. While that’s happening, the upper floors are constructed in a factory before they’re lifted by crane onto the building.
The upper levels of Traverse will be lifted onto the first floor within the next two weeks.
“It’s almost twice as fast as building it on site,” Verdon said. “You’re starting to see a lot more homes being built like this in the mountains because the building season is so short. You’re going to start seeing more of it in the city because it’s quicker and you have more quality control.”
The project started last month and is expected to be completed by the end of March.
The homes will range in size from 1,211 square feet to 1,223 square feet and feature open stairwells with solid oak treads, maple kitchen cabinets, slab kitchen counters and onyx countertops in the bathrooms.
Margaret Jackson: 303-954-1473 or mjackson@denverpost.com
