New Inverness Transit Oriented Development (TOD) Capitalizes on 'New Urbanism'

DENVER, CO--(Marketwire - October 31, 2007) - Walk to the Colorado Athletic Club and Light Rail, or ride your bike to the mall, Thai Basil, P.F. Changs, and over 30 other restaurants and shops. Sound like an advertisement for downtown living? A Denver homebuilder is capitalizing on the perfect storm of changing demographics and lifestyle trends to create a new kind of urban community that blends the benefits of urban living and suburban affordability.

Century Communities has created Avalon at Inverness to appeal to shifting needs of buyers. "It's not just about demographics anymore. In developing an innovative community we looked at lifestyles and how they impact home choice," explains Mitch Johnson, VP of Sales and Marketing for Century Communities. "This New Urbanism trend has fostered the growth of Transit Oriented Developments or TODs, which rely on proximity to mass transit, shopping, dining, and amenities you find in a traditional urban setting but are appearing more in suburban settings due to the growth of mass transit."

Call it "New Urbanism," "Smart Growth," or "TODs," the demand for urban style dwellings will likely increase over the next 20 years due to the high cost of energy, and growth of convenient and speedy mass transit. A new report out by MetroStudy and Traffix Systems says 61 percent of local respondents would consider living in a mixed use development, and the growth of the Empty-Nester population is creating more demand for TODs.

Another big demographic change is the fact that only about 25 percent of households in Denver consist of a married couple with children. Singles and couples without children each outnumber "traditional family" households and their growth will outpace "traditional family" households by a factor of 10 over the next 20 years.

This is further fueled by a DRCOG study that states housing and transportation rank as the first and second largest expenses in households, respectively. A TOD can increase disposable income by reducing household driving costs: one estimate shows a household saving $3,000 to 4,000 per year. The access to so many amenities in just a few short blocks can significantly increase a family's disposable income by eliminating the need for a second car.

"It's not the suburbs any more," explained Brendan Miller, principal of Red Tree Resultants, the marketing firm helping to advertise the new development. "It's the attraction of city life vibrancy, proximity, and convenience in a setting that gives you more space -- all the good of city life without the inconveniences."

In traditional homes, the kitchen and master bath are the key features that the developer wants to highlight, but in a TOD, other features came to the forefront. "Avalon at Inverness has been designed with the features urban homebuyers seek, such as a standard oversized outdoor living space in each unit with an outdoor gas fireplace and gas grill. Pricing starts in the low $200's, and buyers will get a ton of luxury features like maple cabinets with crown moldings, granite countertops, stainless appliance package, all included in the base price," says Johnson at Century Communities.

Sales for Avalon at Inverness will begin mid November on the corner of Inverness Parkway and Inverness Way, just four blocks east of I-25 and Countyline Rd. To join the interest list and view floor plans go to: www.centurycommunities.com/communities/avalon

Contact Information: Contacts: Red Tree Marketing Resultants Brendan Miller or Bob Mazerov 303.741.2369