Before the first spade of dirt was turned, Powers, principal ofUrban Ventures LLC and former director of the Denver Urban RenewalAuthority, had sold 47 of the units in the $10.8-million firstphase. When completed, the three-phase project will have a value ofabout $30 million. Fire Clay is the first major development in theneighborhood in nearly 15 years.

Powers says 20% of her units are "affordable," which means theyare available to buyers who earn 55% of the median income. "Themaximum a buyer could earn is about $55,000," she told GlobeSt.com.Units are priced from $134,500 to $279,500 and include live/workunits, flats and two-level townhomes.

Even the market-rate units are selling for about an average of$200 per sf, which is about $100 per sf less than comparable units,less than a 10-minute drive away in LoDo, she adds. Unlike LoDo,Upper Larimer still has a number of available warehouse buildingsthat can be renovated, says Powers. "But I don't think it's goingto become another LoDo," she says. "I think it will always remainmore affordable. And it's a lot quieter. You're close to everythingDowntown, but you don't have the parking problems and congestionyou find in LoDo."