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$1 million Riverfront condos unveiled

East West touts development's private park

John Rebchook, Rocky Mountain News

Published February 9, 2007 at midnight

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The "bargain" condos at a new Riverfront project start at $1 million.

If you snap up one of the 18 units in The Park at One Riverfront in the Central Platte Valley, the seven-figure price tag will buy more than a home in a modern- looking building.

Add access to a half-acre private park in one of Denver's newest, trendiest neighborhoods.

The condos, built by East West Partners, range in size from about 1,600 to 2,200 square feet. The top price is $1.5 million, although buyers are likely to add features that will drive up the cost.

The development is expected to front the largest private park in Denver, said Chris Frampton of East West Partners.

"Honestly, I only know about two of them," Frampton said. "There's this one and the park we did at the Delgany (another condo project in Riverfront Park). And at Delgany, it is more like having a small backyard. This is really a good-sized park."

The park is an integral part of the design, said Peter Dominick, president and chairman of 4240 Architecture, which is designing the three-story building. East West has hired Dominick to design seven buildings in Riverfront Park.

"The most immediate impact will be from the views," Dominick said. "There is a lot of glass, which will make it a lot more transparent and make the units feel bigger and quite contemporary. Residents will feel like they are coming home to a resort."

The Park at One Riverfront will be across Little Raven Street from Commons Park and between East West's Glass House and its One Riverfront building. One Riverfront is under construction. When it is completed in late spring or early summer, East West will begin the construction of The Park at One Riverfront, expected to take eight months.

Frampton wasn't worried about the seven-figure starting price.

"We feel there is some depth to this super-luxury level of product," he said. "If I looked at it logically, our primary market would be empty nesters moving out of big houses. But we just received interest from a young family."

The new units will not be the most expensive condos on the market in Denver.

Christian Anschutz is selling the core and shell of his seven-story NorthCreek condo project for $800-plus per square foot in Cherry Creek North, according to -Realtors.

In addition, condos in the Ritz-Carlton hotel, under construction in downtown, are selling for about $850 per square foot. Condos in the Four Seasons hotel, planned for downtown, are expected to command about $1,000 per square foot.

At a glance: The Park at One Riverfront

• Developer: East West Partners

• Units: 18

• Size: 1,600 to 2,200 square feet

• Price: $1 million to $1.5 million

• Location: Riverfront Park between the Glass House and One Riverfront building

• Architect: 4240 Architecture

• Start: This summer

• Cool perk: Access to half-acre private park in trendy area

Source: Chris Frampton, East West Partners

Snapshot of prices

Average condo prices at the end of 2006 compared with Denver's planned The Park at One Riverfront condo project, where prices range from $1 million to $1.5 million

Metro Denver   $180,086

Riverfront Park   $700,000

Manhattan, N.Y.   $1.22 million

Aspen   $1.6 millionSources: Gary Bauer, Denver; Chris Frampton, Riverfront Park; Prudential Douglas Elliman, Manhattan; Leverich &Amp; Carr, Aspen

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