Lower Downtown (LoDo) is a 23-plus block area surrounding Union Station. It extends from Wynkoop Street on the northwest to Market Street on the southeast and from 20th Street southwest to Speer Boulevard.
As a frontier commercial district, this neighborhood developed with the arrival of the railroad in 1870. By the mid-1870’s a growing streetcar system further supported new retail business in the area. To minimize the threat of fires and because trees were in scarce supply, many of the early buildings here were made of brick. The use of repetitive round, arched window bays, simple brick cornices and arched arcades was common.
In 1893 the Sherman Silver Purchase Act was repealed and immediately many Colorado mines and smelters were shut down. Denver real estate values fell, banks closed their doors and building in the district slowed dramatically. An economic depression followed and by the 1930’s construction came to a virtual halt.
Following WWII the postwar boom saw this district go through a steady decline. LoDo became “Skid Row” and in the 1960’s and 70’s twenty percent of the Lower Downtown buildings were demolished. In 1973 a citizen’s movement to establish Denver’s first Historic District saved many structures and in 1988 the City of Denver declared the area an historic District.
LoDo contains Denver’s largest collection of early 1900’s warehouse buildings and a major restoration effort has brought the area back to life. In the last ten years many deteriorating warehouses have been converted into chic lofts and retail spaces. As the new center of central Denver’s nightlife, LoDo is home to countless restaurants, art galleries and nightclubs. It is now the ideal setting for the in-town urban dweller.
Recent condo sales in LoDo ranged from $132,500 to $2,384,000 with averages of 1,308 square feet and an average sales price of $430,225.