Since the official unveiling of Denver’s statistical neighborhoods in the 1970s, there has been massive infrastructural improvement around the region. Over the recent past, the increasingly growing population and an influx of high-income earners into the Mile High City are transforming many neighborhoods. In fact, a recent report by the National Community Reinvestment Coalition (NCRC) ranked Denver as the second most transformed city in the nation, after San Francisco, California. If you plan to relocate to or invest in Denver, below is a sneak peek at some of the most transformed neighborhoods.
Most Transformed Neighborhoods in Denver
As Bloomberg notes, Denver has transformed from a declining city into a magnet for the affluent. Hosting the world’s second-largest and the nation’s largest airport, the Mile High City’s unemployment has slashed by half, despite having a cost of living 11% higher than the national average. The city’s vibrant economy, spectacular weather, amenities, and beauty are some of the reasons behind the growing transformations.
Here are the five most transformed neighborhoods.
1. Park Hill
The history of Park Hill traces back to the late 1800s when Baron Allois Guillaume Eugene A. von Winckler settled in the area. When Winckler died in 1898, developers began creating a residential neighborhood on his property. Currently, Park Hill has three statistical neighborhoods: northeast, north, as well as south Park Hill.
Park Hill has also grown through the years, even ranking as Denver’s number one neighborhood. Skyrocketing housing prices amid a thriving business community, highly-rated schools, and suburban-style living have attracted high-income individuals to Park Hill, fueling its transformation.
2. Five Points
Located northeast of downtown, Five Points neighborhood is historically an African-American community. It traces its roots to the late 1800s and has hosted many Denver communities.
Recent transformations in the neighborhood have been caused by dramatic demographic changes. Historic businesses have long been phased out and replaced by up-and-coming RiNo Arts District, which has attracted developers and investors. This has also drastically transformed the neighborhood, causing rent and housing prices to soar.
3. Baker
As one of Denver’s most transformed neighborhoods, Baker community traces its history to the 1850s when the ‘Byers Party’ moved to the area and platted half of today’s neighborhood. In the late 1800s, James Hutchins Baker, an educator and administrator, moved to the area to head East High School. Later, in the 1970s, the neighborhood was named Baker, after the Baker Junior High School, which had earned its name from James Hutchins Baker.
While the Queen Anne homes attracted many middle-class people to Baker, the onset of commercial and industrial growth was responsible for the influx of wealthy residents. Newer, modern developments have been increasingly sprouting in the neighborhood, bringing transformation to its historic charm. The neighborhood’s vibrancy, defined by the many recreational facilities (restaurants, shops, bars), has attracted young and wealthy families to the area.
4. Capitol Hill
Capitol Hill has a long-established aura of vibrancy since the city was designated as the territorial capital. However, the neighborhood was initially a preserve for the wealthiest Denver residents, which has long changed. Over the years, it has transitioned with contemporary homes and apartments sprouting up to complement the classic mansions from the past. Today, apartment complexes are more than the historic single-family homes.
5. West Colfax
Initially home to Denver’s Jewish population, West Colfax had modest homes and small businesses. As the Jewish community scattered to other parts of the city, the neighborhood welcomed many other Denver communities.
Today, West Colfax, as one of the most transformed neighborhoods in Denver, is an up-and-coming area with a mix of residents – modest and affluent. Its streets now feature shopping centers, commercial offices, and healthcare facilities.
Reach Out to Dyllan Nguyen for More Insights
Denver’s neighborhoods have been undergoing a dramatic transformation over the years. Some have changed to attract the affluent, while others, like Capitol Hill, have transitioned to accommodate the middle class. If you’re exploring Denver neighborhoods to invest or move in, the above five present an excellent opportunity.
Meanwhile, for more insights on the next up-and-coming neighborhoods, contact Dyllan Nguyen, Denver’s real estate & lifestyle expert.