2785 Speer magnet for medical students

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Highlights:

  • Apartment Appraisers & Consultants hosted a bus tour of 8 apartment communities.
  • 2785 Speer was one of them.
  • 2785 Speer is a magnet for medical students, despite the across town commute.
Sales associates at 2785 Speer stand in front of the almost completed apartment community in Jefferson Park.

Sales associates at 2785 Speer stand in front of the almost completed apartment community in Jefferson Park.

There is a good chance there is a doctor in the house in the largest apartment community in Jefferson Park.

Or at least a soon-to-be-physician.

An apartment developer asked a sales associate to describe the demographics of renters at the 2785 Speer apartment community in Jefferson Park on Thursday afternoon.

The developer was one of more than 100 apartment experts attending the 12th annual apartment bus tour sponsored by Apartment Appraisers and Consultants and the Colorado Real Estate Journal.

The 325-unit 2785 Speer development was one of the eight apartment communities on the all-day tour.

In addition to renters who want to be minutes from downtown in a first-class apartment community at a lower price than in new projects in nearby LoHi or in downtown Denver itself, the sales associate, wearing a Broncos t-shirt, said they are getting a lot of renters from Aurora.

“Aurora?” I asked her. “Why would people from Aurora come to northwest Denver?”

She said they are mostly medical students, who are training to be doctors at the Anschutz Medical Campus at the University of Colorado.

“I’ve rented to about 10 medical students myself and I know others here have too,” she said.

“I think there’s been a lot of word-of-mouth among medical students that this is a great place to live,” she said.

I pointed out that there are a lot of apartment communities between here and the medical campus, including some new ones.

“It really is a pretty straight shot from there to here,” she said with a smile.

More than 100 people attended the 8-apartment community bus tour on Thursday. 2785 Speer in Jefferson Park was one of the stops.

More than 100 people attended the 8-apartment community bus tour on Thursday. 2785 Speer in Jefferson Park was one of the stops.

I looked it up when I returned from the tour and with no traffic, the commute could be made in 19 minutes. However, it can easily take 35 minutes or more with traffic.

I asked Lauren Brockman, principal of S Orion Real Estate Services, which manages and developed 2785 Speer, why he thought the community was a magnet for medical students.

“I really don’t have the answer to that,” Brockman said.

“Maybe it is because of the quality of the development and they like the location and the drive usually isn’t that bad,” he said.

2785 Speer charges an average rent of $2.22 per square foot, which equates to just under $2,000 per month for a typical unit.

The finishing touches are being put on the 4- and 5-story community, which counts four swimming pools among its amenities.

A woman on the Apartment Appraisers & Constants' tour admires the community room at 2785 Speer.

Dee Strong of Multifamily Strategic Advisors is shown in the community room of 2785 Speer. She was one of more than 100 apartment experts on the Apartment Appraisers & Constants’ tour on Thursday.

The sales associate said the remaining construction at 2785 Speer should be completed by the end of October.

“We’re leasing an average of one unit per day,” she said.

“We expect we will be basically rented up by the end of December.”

In other words, if you are a medical student willing to make the rounds between Aurora and Jefferson Park, there might be some urgency in signing on the dotted line at 2785 Speer.

Read a more in-depth article about the Apartment Appraisal Consultants/Colorado Real Estate Journal tour in the Oct. 7 edition of CREJ.

Interested in buying a home in Jefferson Park. Please visit COhomefinder.com.

Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. DenverRealEstateWatch.com is sponsored by 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.

 

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John Rebchook

John Rebchook has more than 30 years of experience in writing and communications. As the Real Estate Editor for the Rocky Mountain News, he wrote about residential and commercial real estate for 26 years. He has won numerous awards for business stories and columns that he wrote, both as an individual and part of teams. In addition to real estate, he also covered economic development, banking and financing, the airlines, and cable TV for the Rocky. In addition, he was one of the original freelance writers for GlobeSt.com, covering commercial real estate for the Internet publication.

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