10 Jul Q&A: Riverpoint Partners’ Reid Davis
We all know how crazy the Denver real estate market has become. Our challenge is to figure out ways to keep it from turning completely irrational. As buyers comb listings and neighborhoods for desirable properties, they’re still finding a dearth of starter-level condominiums in the $200,000-$400,000 range. If you ask developers, the main culprit is Colorado’s construction defects laws, which make it easier for disgruntled homebuyers to bring lawsuits against their builders. Legislative efforts to amend the statutes have failed so far, leaving the inventory problem unresolved. We sat down with Reid Davis of Riverpoint Partners—the developer behind the upcoming Decatur Point apartment complex in Jefferson Park—to discuss the industry’s legal concerns and the overall dynamics of Denver’s market. 5280: Your firm is relatively new to the local scene. How did you break into it? Reid Davis: We made some land acquisitions in Jefferson Park and the Tennyson Street area, and we were able to get...