Boulder, CO, November 28, 2008 --(PR.com
)-- The slowdown in the national housing market has caused serious anxiety among real estate investors. Boulder real estate observers watching the progress of the newest, high-profile urban living communities are looking for local signs of stress. However, the development attracting the most attention, the 380-unit Peloton complex, has given no cause for alarm. In spite of being the largest undertaking of its kind in Boulder history, The Peloton has finished construction on its first 191 units and community center, with more than 60% of the first phase sold as of September 2008. Second-phase exterior construction will be completed on schedule.
The Peloton is a mixed-use community located at 38th Street and Arapahoe Avenue, within walking distance of Boulder’s new downtown shopping and entertainment district at 29th Street. It offers access to the Boulder Creek Path and excellent views of the Flatirons from many of its units, as well as from Boulder’s only heated rooftop swimming pool. A community center, complete with a movie theater, meeting rooms, and fitness facility, rounds out the amenities package for residents of The Peloton. Living space at the Peloton ranges from modern lofts to 3-bedroom residences.
While the amenities attract new residents, The Peloton’s sales team has also taken steps to ensure buyers continue to line up in a slow market by offering monetary incentives. One such incentive involves arranging to pay the first six months of the mortgage for buyers who take out a loan through any of The Peloton’s preferred lenders. The six-month amount will match payments up to a 6.25% rate and are paid in bulk on the close of a sale. Freddy Halcomb, The Peloton’s Vice President of Sales and Marketing, says the incentive plan is “an effort to address the current market situation”, but he’s confident that The Peloton, with its unique mix of community amenities and convenient location, will progress to phase two as planned.