Aurora's East Hampden Avenue on a fast track: developers pick up where light rail stops.

• Author: Titus, Stephen
• Position: Who owns colorado

Developers and real-estate brokers trying to divine the next growth areas around Denver and the Front Range can put away the crystal ball.

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The hot spots are pinpointed in the RTD light-rail and Fas Tracks planning maps.

"Our demographics are clear," said Brad Kirkendall, president of Colorado Premier Real Estate Group. "Buyers want to live on a rail stop."

Kirkendall's firm represents Town Center Terrace condominiums, a new collection of mid-priced, multifamily homes and condos in the new Hampden Town Center in Aurora, near the Dayton Street rail stop on the Interstate 225 light-rail line now being built. He also represented Hampden Terrace, a townhome project in the same development with 50 units ranging in price from $250,000 to $350,000.

"One of the reasons I was interested (in the property), is because the light-rail station is in walking distance," said Jerry Kliment, the developer of Town Center Terrace and Hampden Terrace. "The light rail has really brought a new concept to Colorado, and the market is going to be really strong for transit-oriented districts."

Kliment has been building homes for more than 25 years and was president of Lang Homes before striking out on his own.

He said that the planned stop on East Hampden Avenue about four miles east of Interstate 25 was not a sure thing when he bought the property, but it has proven to be a key selling feature.

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More proof of light rail's appeal can be seen during a drive east down Hampden from I-25. The stretch of road leading to Hampden Town Center is rife with run-down apartments and 'B' class retail centers.

Some, like Tiffany Plaza at Tamarac Drive, are undergoing a renovation, but the parcel of land adjacent to the light rail stop is an island of polished residential and retail offerings that developers are expecting to appreciate quickly once the rail line, part of the T-Rex project, is opened.

Kliment's project is part of the larger Hampden Town Center, spearheaded by Trammel Crow Denver Development. The 107-acre parcel is anchored by the Dayton Street light-rail stop at the south end of the development. A retail center with a 206,000-square-foot Super Wal-Mart and a handful of smaller service businesses hold down the north end, fronting Hampden Avenue.

While Kliment's demographic focuses on young professionals and first-time buyers, particularly at his Town Center Terrace project, it's clear that the allure of light rail cuts...