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economy in making its judgment. Joining Denver on the danger list were New York, San Francisco, Boston and
Jersey City. The study of 350 metropolitan areas estimated that homes in Denver were about 22% overvalued.
(Rocky Mountain News, 2/8/2003)
· Although a construction schedule has not yet been announced, the developer of the planned Canyons residen-
tial community in Castle Rock selected the designer for the community's signature golf course. Lee Alpert plans
to develop the 1,500-lot project on about 3,500 acres of land east of I-25 and north of Crowfoot Valley Road.
Tentative pricing levels for houses at The Canyons are in a range of about $500,000 to two million. Tom Doak of
Renaissance Golf Design Company of Michigan will design the golf course. A 20-year build out is expected for
The Canyons. (Douglas County News-Press, 2/12/2003) (80104)
· T. P. Development began construction on Roslyn Court, an 80-unit residential neighborhood in Stapleton ori-
ented to moderate-income buyers. The project will be located on Roslyn Street between East 26
th
and East 28
th
avenues. Units will include duplexes, fourplexes and carriage homes selling in a price range of $123,000 to
$176,000. The redevelopment of the former Stapleton International Airport in east Denver will ultimately contain
over 12,000 residential units, office and retail space, parks and public buildings on 4,700 acres. The City and
County of Denver is requiring that about 10% of the residential units at Stapleton to be marketed to low and
moderate-income residents. (Denver Post, 2/11/2003) (80207)
Traffic/Transportation
· The City of Brighton hired a consultant to develop a design master plan for improvements to Bromley Lane be-
tween Platte River Boulevard and Tower Road. Short Elliott Hendrickson, Inc. will provide plans for widening the
thoroughfare to four lanes and installing a median, landscaping and sidewalks along the 3.5-mile section on the
south side of the city. Brighton budgeted about $7 million for the project, which will be done in stages between
2003 and 2010. (Brighton Standard-Blade, 2/26/2003) (80601)
James Real Estate Services, Inc.
90 Madison Street, Suite 300
Denver, Colorado 80206
303/388-1100
Eric Karnes, Editor
February 2003
The Real Estate Perspective
James Real Estate Services, Inc.
Past Month's Real Estate Perspective Entries
(Continued)
