Washington Park History

Out of the dusty treeless prairies of the Front Range sprang a neighborhood that would eventually be known as Washington Park...

The year was 1860 and the impetus was water and its mechanism of transport. A ditch and water drove the changes that eventually brought us our home sites here in Washington Park. The ditch is still there, but few know of its historical significance. The water it carries today is there for the impromptu dog romps and not to satisfy the thirst of Denver as was originally planned.

Rail transportation made life in Washington Park easier and more convenient

Trolley cars and rail cars brought access to the Park and to the jobs emerging a short ride to the north. As the Denver economy began to grow the white collar workers needed home sites. Opportune real estate developers such as George Bohm and Carrie Bailey responded to this new demand by providing building sites for affordable brick homes.

From 1896 to 1926 the subdivisions that today are collectively known as Washington Park were platted. An examination of the tax assessor's records reveals subdivisions such as Craig's Subdivision (the first), Myrtle Hill (the most famous) and many variations containing the keywords "Washington Park" (Square, Front, Terrace).

Many claim that a buffalo wallow was the progenitor of Washington Park. Today´s Smith Lake was where, legend has it, wild bison bathed themselves in the mud caused by the high water table just below the surface. The wallow was the perfect spot to connect the "Big Ditch" carrying water for the city of Denver. The water from the lake was used to irrigate the trees and shrubs brought to the area from the mountains, north Denver and the Highlands and transformed the prairie into what we know today as Washington Park.

Washington Park is a geographically simple neighborhood to understand

It is a north-south, east-west plat of blocks of these subdivisions. However, all the streets are not alike. Washington Park lot sizes vary, in general, by the amount of frontage each has. Each street and each block on each street are different. South Williams St., for example, has more lots with 37.5' of frontage while S. Gilpin Street has more lots with 50' of frontage. As can be seen from the chart below S. Williams St. has more lots. One can also see the broad mix of houses that resulted from changes in zoning and market demands. Until 1925 duplexes were allowed. Since then homeowners have reacted to their need for more space by expanding the foot print of the houses and raising the roofs to create "pop-tops." And the homes that have exceeded their useful lives are being replaced by infill development.

Development Graph

If you enjoy eating a hamburger you have many options in Denver. The price you pay will vary by the place you choose. In most restaurants that serve hamburgers, it is one of the cheapest entrees on the menu. The price at which they sell a hamburger is the base price for all other items. In other words, its price is set at the point where at least some of the fixed costs of the restaurant are covered.

In real estate, there is a price below which you will not find product for sale. This is the neighborhood hamburger price. In Washington Park today this price is around $450,000. Even if the house on the lot is uninhabitable, it will generate this price. If the house is uninhabitable, who buys it? The investor.

From the chart below you can see the quarter-by-quarter average price appreciation.

Average Sale Price for Lots

As the value of the dirt has increased, the decisions about what to do with the dirt have changed. A house that was built in 1920, for example, on a 6250 square foot lot that has not been maintained is the hamburger. It will sell for the neighborhood hamburger price and it will be demolished. Infill developers will be the buyers. It will not be on the market for long, perhaps under 40 days. This is a fact.

The house they will build in its place will be in response to market demand. Today it is clear what that is. For tomorrow, no one knows. Today it is a 2800-3600 square foot house with 4 bedrooms, 5 bathrooms and a full, finished basement. It will have 9-10 foot ceilings, a luxurious master bath and top-of-the-line kitchen appliances. Its asking price will vary from $1,200,000 to $1,600,000. When it sells, its days-on-market will vary from 60-75.

If the house has been maintained, but not remodeled, it is a product for the young family that will invest money and sweat to bring it up-to-date. The price range will be $550,000-$575,000 and it will sell in under 50 days.

The remodeled home will bring the highest price per square foot of all the segments and it will also sell relatively quickly, certainly much quicker than the Denver Metro average of 85 days.

The pop-top is a good idea for the family that needs more space and plans to live in the house for the foreseeable future. However, the economics of this segment are beginning to look unfavorable for the investor or speculator. When a 1000 square foot bungalow is "popped" the resulting house is only 2000 square feet, still not a big house. Further, the original floor plan of the bungalow was not designed for a second floor and compromises have to be made. On the first floor, bedrooms are sacrificed for a larger kitchen, a family room, and a staircase. In the basement the ceilings are often low which is not a desirable characteristic in today's market. Add together the cost of the original home and the cost of the pop and the total approaches $800,000. Days-on-market are the longest of all the segments, approaching 120 days.

If the lots of Washington Park were larger, we would have more variation in our housing stock. But they are not. Washington Park is what it is and it is not going to change. The cost of the dirt drives what the future will bring. Right now the Washington Park market is very strong. Demand is there, price appreciation follows and the creativity of the homeowners and developers promises to bring innovation and excitement.

And to think it all started with buffalo, a ditch and water.

If you have any questions about Washington Park's history or other aspects of the neighborhood just fill out the form below and we'll be happy to answer them...

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