Despite Heavy Pollution, Northeast Denver is still a Consideration Among Colorado Property Developers
Recently, a study was conducted by ATTOM Data Solution in the Northeast Denver region – which roughly covers just a few square miles. The results show that there is an exceptionally high environmental risk. Even still, investors are enthusiastic about future developments within the region.
It is not current industries that have detrimentally impacted the environment of the area, but those industries of the past. It has been established that, during the 1800s, slag was produced that resulted in contamination as various types of metals and arsenic were smelted in the area.
Today, there are two distinct Superfund sites and six individual brownfield sites that are considered to be the legacies of the industry that took place in the area in the 1800s.
It’s common for contaminates and local industrial businesses to weaken the housing market within a particular region.
However, this is not the case in Northeast Denver.
In fact, out of all of the areas in and around the Metro Denver area, this is the one location that holds the strongest amount of interest among land and home developers.
Additionally, the homes within the area of Front Range have seen the largest amount of gains.
Many locals describe the area as a “hot mess”
This shows the love for the area. Even though it is in need of environmental remediation, locals stay and developers are moving in on this territory and making an attempt to recondition, reconnect, and rebuild.
And there’s proof of economic upswing in the housing market here.
We know that toxic environments and contamination issues will depress home values. It usually includes high foreclosure rates and slow turnover for property sales.
However, the opposite seems to be happening in Northeast Denver.
Despite the environmental despair and disarray, the interest displays the fact that people are more desperate than ever before to obtain affordable land and other types of property near the Denver Metro region. In addition to this, sellers are no longer required to report the past pollution that occurred in the region. Details of historical pollution are being displaced and increasingly more difficult for the public to obtain.
Investors and developers can take advantage of this information by moving quickly on a hot market that hasn’t been swayed by environmental factors.