Part Bohemian, part hipster, and long on character, the RiNo neighborhood is one of the fastest developing areas in the urban belt along Denver’s South Platte River.
RiNo (River North) neighborhood is a booming, eclectic area north of downtown Denver. Its boundaries are the railyards, 38th, Downing, Lawrence, and 24th Streets. Providing urban living opportunities in an environment that can only be characterized as “unique,” it has become almost a city in itself with a vibrant art community, plenty of housing, entertainment, office buildings, and hotels.
What started out as warehouses, empty lots, and a fledgling art community, RiNo is now transforming into a diverse, multifaceted enclave. This bustling area is attracting a new wave of developers and continues to evolve and expand its footprint to include expansive apartment complexes, mixed-use developments, and public gathering and recreation corridors. RiNo is especially appealing given its proximity to LoDo and Union Station neighborhoods, the South Platte River recreation avenue, and access to I-70 and I-25.
Home Appreciation
While the majority of the RiNo headlines focus on commercial development, residential real estate in RiNo continues to be strong. Like many Denver neighborhoods, home values have increased over the last 12 months. The average sales price of homes in RiNo is $13,102 over last year. Homes average 125 days on the market so RiNo tends to be favorable to home buyers’ ability to negotiate on price and terms. Still, the average price per square foot is $496 which is relatively high for the Denver metro area and indicates the home sellers are still getting top dollar for their property.
Existing Homes for Sale
The majority of housing options in the RiNo neighborhood are modern industrial design townhomes, contemporary condominiums with high ceilings, and trendy homes designed with families in mind. Many of the offerings include decks and rooftop relaxation areas. The majority of residences are within walking distance from the 38th and Blake train station stop which will take you to Union Station as well as Denver International Airport.
The average price of a home in RiNo is $602,500. Most of the homes for sale have been built in the last 10 years, and offer the latest in home design, updated fixtures and appliances, and high-tech amenities.
New Construction
Most of the new construction taking place in RiNo relates to commercial, namely substantial apartment buildings. There are a number of large-scale apartment complexes coming on the market as well as hotel developments and retail. Here are just a few of the apartments that are in the offing:
- Cypress Real Estate Advisors is moving forward on a 16-story, 326-unit apartment complex on 32nd and Denargo Streets. If all goes according to plans, it will be the tallest building in RiNo.
- Carmel Partners, a San Francisco-based developer, recently proposed a 230-unit multifamily project which comes on the heels of its 417-unit apartment complex at 32nd and Brighton.
- International real estate firm Hines and Cresset-Diversified QOZ Fund have begun construction on an 11-story, 397-unit luxury apartment development at 43rd and Brighton, across from the Mission Ballroom venue.
- Two other companies who have a big presence in RiNo include the following:
- Edens recently expanded their presence again by acquiring parcels of lands in the 2500 block of Larimer St. Over the last three years, the Washington D.C. based company has invested more than $70 million in RiNo. The company focuses on retail development and development ownership.
- Denver-based Formativ and Chicago-based Golub & Co. have partnered up and are planning a mixed-use development in the Denargo Market area. This exciting project is situated on 13 acres and has the potential of becoming the hub of the RiNo neighborhood. It is located near City Gate and Brighton Boulevard.
Things to do in RiNo
The South Platte River and its accompanying trail cut through RiNo, and 31st and 38th Streets cross the waterway. You’ll find people cycling, running, walking dogs and skating up and down the thoroughfare. Another spot of respite is the St. Charles Place Park at 38th Street and Marion. The park offers a softball field, playground, basketball court, picnic tables, and the St. Charles Place Recreation Center offers many pickleball opportunities.
In just the last few years, historic factories and long vacated warehouses have been transformed into a scintillating art district that boasts galleries, furniture makers, potters, painters, sculptors, photographers, and illustrators. In addition to the thriving art community in the RiNo neighborhood, you will find other enterprises, brewers and distillers, and coffee roasters, to name a few. The First Draft is one of our favorites!
RiNo neighborhood is home to EXDO and the Mission Ballroom, which offer a wide range of music, entertainment and special events. Crema Coffee House is a funky, local coffee shop that serves up a delicious array of coffees and side dishes ranging from beet salad to sweet potato waffles. Try out the popular Osaka Ramen, 2611 Walnut St., Mister Oso, 3163 Larimer, and Los Chingones, 2461 Larimer, which has a terrific terrace.