Jonathan Alpert, whose family has been involved in real estate in the Denver area for more than half a century, is developing a modern, townhome and single-family community at Sloan’s Lake.
The development, called FrameWork at Sloan’s Lake, is replacing ramshackle condo units built in the late 1950s. Only one was owner-occupied with the rest being rented, said Alpert, principal of TreeHouseDenver.
The development is bordered by West 17th and 18th avenues and King Street, and about a block and a half from Sloan’s Lake, the largest lake in Denver.
The development will include 14 townhomes with about 2,000 square feet each, priced at about $500,000 and eight single-family homes, with about 3,200 square feet each, including the basements, which will be priced at about $600,000 each.
“We have already pre-sold two single-family homes,” said Alpert, who lives in a townhome that he developed in the nearby West Highland neighborhood.
He said one buyer is moving to Denver from California and the other is leaving a condo in the Glass House in Riverfront Park.
The parcel is the largest land assemblage in the Sloan’s Lake area, he said, other than the nearby St. Anthony’s Hospital site, which is slated to be redeveloped.
“It is a 72,000-square-foot lot,” Alpert said. “That is a big infill development in a city neighborhood.”
The land is zoned GM-U-3, which allows three-story buildings, which is what he is developing.
“It’s great zoning,” Alpert said. Much of the neighborhood no longer permits three-story buildings.
The zoning, however, allows a much more dense project than he is developing.
“I didn’t think I needed to max-out the site,” Alpert said, over coffee at Commons Ground on West 32nd Avenue. “I probably could put 34 or so units on the site, instead of 22.”
The community will include a 12,000-square-foot pocket park for the residents.
“It will be a very nice urban space,” Alpert said. “I’m hoping the owners will plant little urban gardens there. If not, we will plant something that is low maintenance and doesn’t need much water.”
The homes are being designed by Studio H:T Architecture of Boulder, which has a reputation for creating homes that not only have cutting-edge designs, but are very green.
“These homes will be very sustainable and energy-efficient,” Alpert said. “They are going to be LEED Home certified. Right now, they are going to be Silver-rated, although we are looking at Gold.”
He said each unit will be built to include solar photovoltaic cells. One thing he is looking at is allowing buyers to lease the solar panels, rather than buy them outright.
“I have solar panels on my home (which is west-facing) and it generates about 50 percent of my electricity,” Alpert said.
Alpert expects a lot of young professionals, “either with young families, or planning to start families,” as well as empty nesters, to be drawn to the homes.
“There just isn’t a lot of inventory in this price range,” Alpert said.
A home with about 1,100 square feet and an 1,100-square-foot finished basement recently sold near West 33rd Avenue and Meade Street, just a few minutes drive to the north, for $535,000.
“There is nothing wrong with buying an older, existing house, of course,” Alpert said. “But when you look at how much the home construction has improved over the last few years in terms of energy efficiency and communications, if somebody was looking at a small home like that and one of our homes, it would be no contest. It’s wild. You can control your heating and cooling from your smart phone these days.”
The homes will be listed by Alpert’s partner, Clem Rinehart.
Housing consultant S. Robert August has known the Alpert family for more than three decades, including Jonathan’s father, Ted.
“Sloan’s Lake offers a wonderful opportunity for Jonathan,” August said. “I think most of the buyers will come from a five-mile radius, or will be moving here from out-of-state. It’s perfect environment for someone working downtown, because you can be there in minutes. At the same time, it is quieter and a little less urban than living in LoDo or something.”
Alpert the area to the west also will be a draw for buyers.
“You are less than two blocks to the biggest body of water in Denver and the city recently completed a $3 million renovation of Sloan’s Lake,” Alpert said. “I love what is going on in Edgewater (just west of Sheridan Boulevard.) “You have all of these cool restaurants in Edgewater and you’re minutes from a King Soopers and Target.”
Alpert said he hopes to create something special with FrameWork At Sloan’s Lake.
“I don’t want to be a production builder,” Alpert said. “I want to be able to come back in 20 years and be really proud of what I built. I want something that will be attractive to buyers, but also something that adds to the fabric of the neighborhood.”
To learn more about this development, please visit FRAMEWORK At Sloan’s Lake.
For a primer on the area, please visit this 8z Real Estate blog.