River Meadow, LLC Breaks Ground on Next Phases of Tejon34 Development in Lower Highland
New phases of Tejon34 development will add five townhomes and eight condominiums to highly sought after neighborhood
DENVER – Residential developer River Meadow, LLC, has broken ground on the next two phases of Tejon34, a townhome/condominium project located in the heart of the Highland neighborhood. The new phases of the development will add five townhomes and eight condos in a popular area short on inventory.
The next townhome building, the West Courtyard, will include five townhomes, ranging in size from 2,177 square feet to 2,659 square feet. The West Courtyard will feature two- and three-bedroom homes priced from $642,000 to $824,000.
- Two-car attached garages
- Rooftop decks with stunning city views
- High-efficiency fireplaces
- European kitchen designs
- Open basement awaiting custom finish
The homes are also being built to meet the latest Energy Star and EPA Indoor Air Program guidelines.
Immediately following West Courtyard is Tejon North, offering broader options, from one-bedroom, one-bath condos starting at $245,000 to three-bedroom, two-bath units for $510,500. The condos range anywhere from 710 square feet to 1,652 square feet, and feature attached garages and a community rooftop deck that can be reserved for private gatherings. One level living is also an attractive element of Tejon North.
"With a declining inventory and low-interest rates, the time is right to push forward and provide fresh options in the market" said River Meadow Managing Partner Ray Kawano. "Completing construction as soon as feasible is also better for our existing homeowners"
Northwest Denver remains one of the strongest areas in the region for real estate investment, according to statistics from MetroList. The sales price or properties in the area rose 20.7 percent from June 2011 to June 2012. But inventory - particularly new construction - is hard to come by. Inventory in Northwest Denver declined by 53.2 percent decline between June 2011 and June 2012. As of early August, there were only five newly constructed condos offered for sale in Lower Highland.
Located at 34th and Tejon streets, Tejon34’s first phase included five three-bedroom townhomes that sold between $772,918 and $855,000 and varied in size from 2,935 square feet to 3,097 square feet. All of the homes in the first phase were Energy Star qualified - meeting guidelines for energy efficiency set by the U.S. Environmental Protection Agency. Energy Star qualified homes are at least 20 percent to 30 percent more efficient than standard homes. Energy efficiency will continue to be a key characteristic for Tejon34’s upcoming residences. The development will eventually include a total of 28 homes.
The West Courtyard is slated for completion in the first quarter of 2013, while Tejon North should follow in the second quarter.
For more information, call Red Chair Realty Advisors, LLC, at 303-991-6204 or visit www.tejon34.com
- Contact Information
- Lu Stasko
- The Stasko Agency
- (1) 303-477-9902
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