DENVER-Denver-based Loup Development Co. is undertaking a 29-unit, $9.5-million luxury loft project in the increasingly popular Highland neighborhood, northwest of the CBD.

Construction of the ShoShone Lofts at Highlands Ranch will begin in February, opening in January 2002, says Ron Wedgle of Loup Development. Units, ranging in size from 984 sf to 1,732 sf, will cost slightly more than $200 per sf. Loup also is developing a loft project at $100 per sf more in Lower Downtown less than a five-minute drive from ShoShone Lofts.

Until two years ago, the ShoShone property had been considered one of Denver’s most depressed neighborhoods. Its mountain views and downtown proximity have sparked revitalization, with luxury condo developers leading the way as they raze small homes and older buildings. The property provides an unobstructed view of Denver’s skyline, Coors Field, Pepsi Center, Mile High Stadium and mountains.

Ten units already have been sold, according to Linda Amato, an agent with RE/MAX 100 Inc. She and her husband, Gene Smaldone, are partners in the deal. Their first inroad into the submarket had been three years ago when they bought an older duplex and demolished it. Since then, she says, land prices have soared 200%.

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