Five minute walk from Light Rail, Dry Creek lofts have a competitive edge
By Mark Samuelson
Everybody knows that Light Rail has been a big hit with commuters along the South I-25 corridor…but how are those “TOD” (transit-oriented development) projects doing?…the ones with luxury residential lofts and condos, walking distance from the trains?
At Dry Creek Crossing, Tara Viksne shows off an ‘E-Loft,’ 2-bedroom, 2-full-bath plus loft and rooftop terrace, priced from $269,000. The project has taken four more reservations since Jan. 1.
Today you can see one that’s done well indeed…only 40 homes left from 248 at launch…including four new reservations just since New Years. Dry Creek Crossing is a 5-minute stroll west of the Dry Creek Station, and sales and marketing manager Tara Viksne can take you on a tour of models that have proved to have an edge on several competitors.
…Starting with amenities. “It turns out Light Rail buyers really do want to have fitness facilities as part of a community,” Viksne told me during a tour of some loft-level units that have big, view-swept rooftop decks. Dry Creek Crossing has a sharp looking pool and fitness center, plus conference room and hot tub…amenities lacking at some other TOD projects east of the freeway.
The HOA fee at Dry Creek ranges from under $150 to around $250 for the most lavish penthouse. (Another TOD two miles north has those goodies, too, but charges around $500 per month for the package.)
Buyers agree on the pool…but divvy up on what else makes them reach for this. “Everybody wants to be close to Light Rail,” Viksne said, “but only about 40% ride the trains daily.” National studies, she adds, show homes close to light rail tend to hold value better than the wider field does…an advantage anybody would like.
She’ll show you a “K-Loft” design that’s ready for delivery right away…two bedrooms, 2.5 baths, set below a loft level with wet bar, that walks out onto a 400-foot deck. It’s priced at $399,000…loaded with nice features included slab granite, stainless appliances and hardwood floors…things that buyers coming from older homes in the nice neighborhoods west along Dry Creek are used to having.
Of course, with a few remaining homes starting from as low as $195,000, not every buyer here has necessarily owned before. “The last few that contracted were people that found they would be paying less to own a home here than they were to rent, HOA fee included,” Viksne added.
A last surprise: Numbers of buyers are from mountain resorts, getting a second pad in town to enjoy city attractions. Take I-25 to Dry Creek, west a block to Chester, then south a block to Panorama.
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If you go…
WHERE: Dry Creek Crossing, fast-selling luxury condos/townhomes a 5-minute walk from Dry Creek Light Rail Station. Take Dry Creek Rd. Exit from I-25; west half block to Chester St., south half block to E. Panorama Circ., and west 1 block.
PRICE: From $190s, penthouse collection with rooftop terrace from mid-$200s
WHEN: Daily 10 a.m.-5 p.m. Sunday Noon-5
PHONE: 303-649-2220 WEB: DryCreekCrossing.com
