Getting your player ready...
Whoever penned the line that “Boulder is 25 square miles surrounded by reality,” couldn’t have been more right about this year: While luxury properties stagger in Denver, some way off their price mark, you can tour a new condo on Canyon Boulevard today, two blocks from Pearl Street, that’s already contracted over half its 22 new homes since grand-opening last year–all full price, one at $2.475 million.
“There’s a short window to buy one of these,” says The Arête’s Rick Rippberger, who closed his first home last August and expects to sell out this year. He’ll show you reasons for that success – starting with The Arête’s location, off the primo block of the mall, and nestled between views of the Chautauqua Park and the Flatirons on one side, and of downtown crested by Mount Sanitas on the other.
Even this year, Rippberger says, that’s attracting out-of-state buyers (Chicago, San Diego, Florida) who want that setting for a second or third home, in the way you’d buy a place in Scottsdale or Aspen. “When we opened the models,” Rippberger said, “we saw people waiting in the wings for the prices to come down.” That didn’t happen; he wrote his first deal, full price, at $2,150 million. The appraisal came back at $2.2M, prompting the bank to ask for another (it came in at $2.2!).
Rippberger credits the developer and the architecture you’ll see today. Before launching, builder Stephen Tebo polled residents of luxury residences to the east, asking what they DIDN’T like about their homes. The answers – small hallways and some traffic noise – reemerged as solid features in The Arête: impressive entry area and wide, richly detailed halls; and some airlock sliding doors you’ll want Rippberger to demonstrate – outdoor sound to literally NO sound as it latches.
That’s just the beginning of what you’ll see in these spaces – including a 3-bedroom, almost 2,900 feet, with a choice of views — city or mountain. Like others it features Sub-Zero and 6-burner Wolf appliances, rich cabinetry in cherry or alder, lavish granite and flagstone detailing matching backsplashes to the fireplace surround, and an efficient in-floor radiant heat system (heat bills are included in the HOA, about $3.66/foot per year for the mid-sized residences).
You can also see penthouses from $4 million finished (Tebo has already taken one for his own pad); a 1-bedroom left at $685,000; and secured indoor parking (some buyers had their spaces enclosed as 2-car garages!). Rippberger suggests buyers need to be looking at these now before they’re sold out; from U.S. 36 take 28th north into Boulder, left on Canyon and west 1.2 miles, a block past Broadway, to 11th.
If you go…
WHERE: The Arête, luxury condominium in downtown Boulder, premium location near Pearl Street Mall, 1-3 bedroom, plus penthouses, lavish finishes. 1095 Canyon Blvd, Boulder; from U.S. 36 take 28th north into Boulder, left on Canyon and west 1.2 mi., a block past Broadway, to 11th. Sales parking via alley between Canyon, Walnut.
PRICE: From $685,000 to $5 million
WHEN: Today, Sat.-Sun.-weekdays, 10 a.m. until 6 p.m.
PHONE: 303-444-8326
WEB: TheArete.com
Mark Samuelson is president of Samuelson & Associates, a homebuilding/real estate communications firm. You can e-mail him at mark@samuelsonassoc.com.
