Translating the Value of Design into Dollars
Less than eight months after coming online, a luxury Denver highrise apartment designed by Page has posted a record sales price. According to BusinessDen.com, the sales price for Joule, also known as 1000 Speer, translates to approximately $535,700 per door — the highest per-unit price in Denver’s history of apartment sales. This is testament to the importance of strategic design on asset value.
The residential highrise was carefully programmed to be a competitive asset in the popular Golden Triangle district. In keeping with the high standard of urban architecture employed on recent projects in the District, this 16-story building reflects a blend of modern design with traditional Denver architectural materials. Also in keeping with the region’s emphasis on sustainability, the project is seeking LEED certification.
The layers of pedestrian, public, and semi-private spaces around the building’s perimeter help to connect it with its immediate streetscape. The project includes a small park to the south of the building, at the intersection of Speer and Cherokee. This area is a public space, accessible to building residents as well as the public, which creates additional value to the district.
Page’s work has had an economic impact on the surrounding area. In addition to Joule / 1000 Speer, the firm also designed the nearby Acoma residential tower. Its 220 units were designed to appeal to urban and single professionals, baby boomers and those in need of temporary accommodations. To address the individuality of the residents, different unit types were designed, allowing the property owner to differentiate certain units and offer flexibility in rental rates.
To see the original article about the sale of 1000 Speer / Joule, please visit BusinessDen.com.
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