CU Denver urban and regional planning associate professor Jeremy Németh spent some time in the area. His father used to live a block away from the strip. He said the economic makeup of the area probably contributes to its lack of change.
“It’s like frozen in time and yet it’s abutting, literally million-dollar bungalows,” Németh said. “My immediate thought is basically investment happens in places where developers can make the largest return on investment.”
He said property investors typically look to exploit the “rent gap”, which he describes as the difference between the current rental income of a property versus its potential rental income. Németh said that’s why developers often end up in places like the Northside, Globeville, Elyria-Swansea and west Denver, places where they can “put the same three-story condo and make a killing.”
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