NEWS

Lowry Homes Outperform Local, Metro Markets

Home, sweet Lowry homes! According to new research, detached and attached home appreciation at Lowry outperformed local and metro markets from 2000 through 2007.

The Genesis Group, an independent real estate research and consulting firm, analyzed initial and subsequent resale prices for detached and attached homes at Lowry during the eight-year period and compared the price appreciation to the City and County of Denver, the six-county metropolitan area and numerous comparable Denver neighborhoods, including Hilltop, Montclair, Congress Park, Cherry Creek, Washington Park and Stapleton.

Key findings include:

Single family detached homes at Lowry appreciated an average of 8 percent per year from 2000 to 2007, compared to an average of 3.5 percent per year in the City and County of Denver and an average appreciation of 7.2 percent per year in the comparable Denver neighborhoods. From 2004 to 2007, when market conditions tightened, Lowry detached homes appreciated an average of 6.6 percent per year, compared to an average of 3.5 percent in the City and County of Denver and 6.4 percent in the comparable neighborhoods.

Attached homes at Lowry, including townhomes, lofts and condominiums, appreciated an average of 6.7 percent per year from 2000 to 2007, compared to an average appreciation of 3.4 percent per year for attached homes in the City and County of Denver, and an average appreciation of 4.6 percent per year in the comparable Denver neighborhoods. Lowry attached homes performed especially well in 2004 to 2007, when market conditions tightened, appreciating an average of 5.5 percent per year, compared to -0.3 percent in the City and County of Denver and an average of 2.1 percent per year in comparable neighborhoods.

Tom Markham, executive director for the Lowry Redevelopment Authority, said Lowry’s long-term successful performance could be attributed to a variety of factors, including location, design standards and quality of life. "Quality and convenience are key factors people look at when buying a home, and Lowry has both," Markham said.

“We have a wide variety of homes, retail, schools and recreational amenities, and all of these projects must meet high design standards. Additionally, our close proximity to downtown, Cherry Creek and Fitzsimons makes Lowry a desirable location.”

The study comes just as Lowry is launching its final neighborhood, EastPark. More than 600 new homes are planned for the neighborhood, located at Lowry Blvd. and Yosemite St. The neighborhood will include patio, townhomes, cottages, single-family and custom homes with price points ranging from the $100s to $1 million. For more information on new homes available at Lowry, click here.

Summertime at Lowry

Lowry is the place to be this summer. The following summer events are brought to you by the Lowry Community Master Association and the Lowry Foundation.

Annual 4th of July Lowry Community Celebration
Join your Lowry neighbors and friends for an afternoon of family fun July 4 from 3 to 5 p.m. This free event includes entertainment, rides, treats and activities. Be sure to bring your bikes, wagons and scooters to decorate for a festive parade through Lowry at 5 p.m. The event takes place on Rampart Way between 2nd Ave. and 4th Ave. in front of the historic headquarters building, also know as Grand Lowry Lofts.

Annual Qdoba Outdoor Concert, Community Grant Fundraiser August 8
Don't miss the biggest bash of the summer at Lowry on August 8 in the Lowry Town Center from 5 to 9 p.m. Enjoy a free outdoor concert by the Hazel Miller Band. A $5 donation gets you a Qdoba entrée of your choice, chips and salsa, soft drink, a beer or margarita. All proceeds go to the Lowry Foundation Community Grant Program, sending funding back into the community for schools, non-profits and creative projects.

Northwest Neighborhood Picnic at Crescent Park August 23
This annual picnic will feature great company, games and plenty of food. To participate or volunteer, contact Heather Bays at 303.366.3485 or info@lowrynorthwest.com.

9th Annual Glory Days at the Lowry Town Center September 6-7
Celebrate the rich history of the Lowry community at Glory Days, a two-day festival filled with great entertainment, food, rides, crafts and history. Watch the mail in August for an event program. Attractions include a free community art tent with crafts for the kids, a Kids' Zone with rides, non-stop, main stage entertainment, arts and crafts vendors and a Saturday Night Street Dance.

Arbors to Celebrate Grand Opening, Opens Model Home

Arbors at Lowry in the EastPark neighborhood celebrates the grand opening of its new furnished model home and sales office June 28 – 29. The model showcases one of four floor plans available, which all feature a main-floor master bedroom. Built by Harvard Communities, the Arbors at Lowry collection consists of three ranch-style homes and a two-story, main-floor master home ranging from 1,900 to nearly 3,000 square feet. A low-maintenance community, Arbors at Lowry homes include landscaping that will be maintained by a homeowners association. Enjoy easy living at Lowry in an Arbors Patio Home.

For more information, contact Judi Phillips/Builders Marketing Group, realtor at 303.366.2555 or visit www.arborslowry.com.

CommonGround - Lowry's New Golf Course

Last month, the Colorado Golf Association (CGA) and the Colorado Women’s Golf Association (CWGA) announced the new name of the association-owned golf course at Lowry – CommonGround Golf Course.

CommonGround Golf Course is the work of worldrenowned architect Tom Doak and his Renaissance Golf Design group. The 7,200-yard, par 71 layout is a complete redesign of the previous course Mira Vista. The new facility will include an 18-hole championship course, an enhanced practice facility and two short courses devoted to junior golf. CommonGround is scheduled to open in spring 2009.

“This facility doesn’t just belong to the CGA and CWGA, it belongs to the community,” said CGA president Bill Fowler. “It belongs to the state’s best golfers and to those just taking up the game. It belongs to everyone and will be priced so that everyone can enjoy it.”

The affordability of the course is an extension of the joint CGA and CWGA mission to promote the game of golf in Colorado. Fowler said the team wanted to incorporate that somehow in the course’s name.

“Our challenge was to name the place, but more importantly to name the purpose behind that place – to name the mission,” Fowler said. “What is the right name for the ground that is founded on the common interests of all? CommonGround Golf Course matches our vision beautifully.”

In addition to the name unveiling, the United States Golf Association presented the CGA and CWGA a check for $175,000 to assist with the funding of the two youth courses. For more information about CommonGround Golf Course, visit www.cogolf.org.

CommonGround is next door to Lowry’s new EastPark neighborhood. New homes are available from the $100s to $1 million. For more information, visit www.lowry.org/eastpark.

Lowry Vista Update

The Lowry Vista development team was still working on a General Development Plan (GDP) to submit to the City and County of Denver. Once the GDP is submitted, the formal application will be available for downloading on the city’s website at www.denvergov.org/generaldevelopmentplans/ tabid/428056/default.aspx.

Since the landfill property has been transferred, the project will not proceed through any additional Lowry Redevelopment Authority (LRA) land use approvals. The Lowry Vista team must go through the City of Denver to receive land approvals, entitlements and zoning. However, Lowry Vista is subject to the Lowry Design Guidelines and the development team must submit plans to the Lowry Design Review Committee (LDRC) for approvals. To date, the Lowry Vista team has not presented an actual plan to the LDRC. The LRA, as with the general public and registered neighborhood organizations, will have the opportunity to comment on plans as they go through the city's approval processes.

The Lowry Vista team is forming an Open Space Committee for the development. To be considered for this committee, contact Marcus Pachner at marcus@lowryvista.com.For more information about Lowry Vista, visit www.lowryvista.com.

Lowry's City of Ulaanbaatar Park Opens

Lowry’s City of Ulaanbaatar Park celebrated its grand opening this month. Located between Roslyn and Syracuse streets and E. 4th Ave., the City of Ulaanbaatar Park spans 4.3 acres and features a contemplative space, playground, trails, native landscape areas and a trellis.

The park’s namesake, Ulaanbaatar, is Denver’s sister city and the capital of Mongolia. Denver is home to the largest Mongolian population in the United States. The park’s grand opening event was sponsored by the Ulaanbaatar committee of Denver Sister Cities International, the Honorary Consul of Mongolia in Denver, the Mongolian Community Association of Colorado and the Lowry Redevelopment Authority.

The City of Ulaanbaatar Park is one of the many parks in Lowry's open space program. At build out, Lowry will have nearly 800 acres of open space, parks and recreational areas. Currently, Lowry has 761 acres of open space that is either built, planned or under construction. Additionally, the LRA estimates additional parks and open space construction at the Community College System and on Lowry Vista (even if the landfill is developed).