The construction of the rail line linking Cheyenne and Denver was widely credited at the time for reviving the city of Denver, which had been founded at the time of the Colorado Gold Rush and incorporated on November 7, 1861. The decision to build the transcontinental railroad to the north had left the fledgling city stranded from the major transportation routes. Many at the time expected that Cheyenne would blossom into the major population center of the region. As a result, Thomas Durant, vice president of the Union Pacific, pronounced Denver “too dead to bury.” Colorado Territorial Governor John Evans declared that “Colorado without railroads is comparatively worthless.”

As a result, Evans, together with other local business leaders, including David Moffat, William Byers (founder of the Rocky Mountain News), Joseph E. Bates, Bela M. Hughes, Walter Cheesman and Luther Kountze partnered with East Coast investors to form a railroad company that would link the Denver City and to a lesser degree the Territory of Colorado with the national rail network. The company was incorporated in the Territory of Colorado on November 19, 1867 as the “Denver Pacific Railway and Telegraph Company.” A sense of urgency existed for this Denver based corporation, due to the formation of a rival, the Colorado, Clear Creek and Pacific Railway (later the Colorado Central), by W.A.H. Loveland and citizens of nearby Golden, with the intention of linking that city directly with Cheyenne and making Golden the natural hub of the territory.

Without these forward-thinking business leaders, Denver may have been left to rust on the high prairie. I always find it interesting how one key decision changes the historical paradigm forever.

Let’s look at this week’s numbers.

Market Watch
New Listing (1289) A good week, not a great week. Sellers still waiting to become part of the market.
Coming Soon (146)
Back On Market (291) WOW! This is a big number. Deals are falling at a 25% rate.
Price Increase (111)
Price Decrease (2283) Still too many!
Pending (1237) An average week for this season.
Withdrawn (214)
Leased (0)
Closed (934) Not keeping up with Total Active Listings. Supply increasing again?
Expired (295)

Now, let’s look at the total supply of Active Listings.

We’ve observed the inventory numbers jump from 4,748 in January to 8,694 today, but this is a decline from the end of June which reported 8819 Active Listings, but it is a bump from last week of about 170 New Active Listings.

Just as Denver’s Founding Fathers, made plans for a RailRoad Spur, 24-30 years ago, we had another group of leaders beating their drums for a NEW AIRPORT. An international airport with immense size and capabilities resulted. Denver International Airport, which most people don’t realize, is the 3rd busiest US Airport, and the 6th busiest worldwide. Denver is on the map!

Being a major transportation hub, it created its dominance as a distribution center and the economic center for the Rocky Mountain Region. Does this cement Denver’s place for the next 150 years? If history is prone to repeat itself, I would say so.

Reach out and we’ll give you the rundown on all the nuances of Denver History and its surrounding confines.

TheCryerTeam@Kentwood.com