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  #8501  
Old Posted Feb 21, 2020, 12:28 AM
Ich Ich is offline
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https://www.bizjournals.com/denver/n..._news_headline

1,850 jobs plus capital investment. Hope we win this one!
Looks like we landed it. Pax8 will expand in Denver adding 1,800 jobs.

They are currently in DTC, wonder if they will stay down there or move to DT with the other big tech companies.
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  #8502  
Old Posted Feb 21, 2020, 3:33 PM
HighRanch HighRanch is offline
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Looks like we landed it. Pax8 will expand in Denver adding 1,800 jobs.

They are currently in DTC, wonder if they will stay down there or move to DT with the other big tech companies.
Excited to see more tech companies moving to the Denver area!

Not sure how you define "big tech companies"
You may not be aware of the tech in the DTC as there are not many big signs on the buildings. Here is just a small list of some of the "Big Tech" companies that have a significant presence in the DTC.

Arrow Electronics, SAP, Oracle, HP, Cisco, Zoom, EMC, Ciber, ULA, Microsoft, Agilent Technologies, Teletch, and many more.
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  #8503  
Old Posted Feb 21, 2020, 4:54 PM
laniroj laniroj is offline
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Originally Posted by HighRanch View Post
Excited to see more tech companies moving to the Denver area!

Not sure how you define "big tech companies"
You may not be aware of the tech in the DTC as there are not many big signs on the buildings. Here is just a small list of some of the "Big Tech" companies that have a significant presence in the DTC.

Arrow Electronics, SAP, Oracle, HP, Cisco, Zoom, EMC, Ciber, ULA, Microsoft, Agilent Technologies, Teletch, and many more.
The tech employment base is very strong and incredibly diverse throughout the SE corridor, downtown, interlocken, and boulder. That tech has driven significant development in all of those areas as well, mini TOD areas waiting to happen if we can figure out the last mile. Some VERY cool projects going on in Interlocken/Louisville area especially the Partners Group project and their Swiss focus on quality design. They spent a ton of money building out an awesome facility. I think it is done or very close.

https://www.denverpost.com/2019/10/3...oomfield-rino/

Then there is Medtronic in Louisville and some other secret players who are slowly creeping their way through planning. Those are MASSIVE users for the former Phillipps 66 site and methinks they will be a magnet for additional medtech in the entire Denver-Boulder corridor and hopefully the Phillips site gets its own Flatiron Flyer station. Medtronic is a magnet for patents and I suspect our patent office in Denver is a major reason they are consolidating out of Boulder and closer to Denver (not to mention other obvious reasons). I can see a facility of the size they are considering drawing major ancillary uses downtown as well, especially medical related tech, which is so ripe for some tech disruption. Here's to hoping for some dtown action!

https://www.dailycamera.com/2020/01/...in-louisville/
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  #8504  
Old Posted Feb 21, 2020, 5:12 PM
laniroj laniroj is offline
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Sherman Street - Tryba/Dikeou

Does anyone have an update on the Sherman Street rezone that Tryba was working on with the Dikeou family; does that still have motion? I haven't seen any updates on that since last fall but they submitted in March of 2019. Sure seems it should be wrapped up yay/nay by now. Rezone #17i-00167 - it's still on the City's rezone map but not listed as a current application in the text descriptions of current cases.

https://www.denvergov.org/content/de...rezonings.html

If Cdebacca torpedoed it, at least the Dikeou's can apply for a grant to put some damn trees in their ROW.

https://www.downtowndenver.com/urban...-applications/
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  #8505  
Old Posted Feb 21, 2020, 5:39 PM
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There was a public meeting 3 or 4 months ago. It's still moving along slowly. I think there's some thoughts around incorporating it into the first leg of the 5280 trail. CdeBaca did torpedo the 5280 trail funding for 2019, but the rezoning is in Hinds' district, and he's on board, as far as I know. Some typical NIMBY RNOs are trying to throw the baby out with the bathwater because they hate the Dikeous.
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  #8506  
Old Posted Feb 21, 2020, 5:43 PM
SirLucasTheGreat SirLucasTheGreat is offline
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Why did CdeBaca torpedo funding for the 5280 trail?
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  #8507  
Old Posted Feb 21, 2020, 7:15 PM
Robert.hampton Robert.hampton is offline
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Quote:
Originally Posted by Ich View Post
Looks like we landed it. Pax8 will expand in Denver adding 1,800 jobs.

They are currently in DTC, wonder if they will stay down there or move to DT with the other big tech companies.
Hmmm....a company with around 250 current employees that seems to pay most employees between 30-60k according to glassdoor. Color me skeptical about this turning into 1,800 jobs at 100k.
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  #8508  
Old Posted Feb 21, 2020, 7:46 PM
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TakeFive TakeFive is offline
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Originally Posted by laniroj View Post
The tech employment base is very strong and incredibly diverse throughout the SE corridor, downtown, interlocken, and boulder.
https://www.denverpost.com/2019/10/3...oomfield-rino/

Then there is Medtronic in Louisville and some other secret players who are slowly creeping their way through planning. Those are MASSIVE users for the former Phillipps 66 site.
https://www.dailycamera.com/2020/01/...in-louisville/
Great post!

Nice follow-up to the original release showing not only progress but budding building mania.

Quote:
Originally Posted by SirLucasTheGreat View Post
Why did CdeBaca torpedo funding for the 5280 trail?
Because she could. (Sorry, couldn't help myself)

Speaking of some missing middle

Welcome to Observatory Row:



https://www.bizjournals.com/denver/n...bruary-20.html
Quote:
The fifth and final building of Observatory Row, a new residential community of six duplex units and 14 townhomes in University Hills, is scheduled to be completed in May. Prospect Real Estate is developing the project, which is located at 4100 E. Iliff Ave.

The three-bedroom, three-and-a-half-bathroom homes range in size from 1,731 square feet to 1,885 square feet, and start in the low $500,000s.
Sounds fairly reasonable given the square footage.
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  #8509  
Old Posted Feb 21, 2020, 8:32 PM
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Originally Posted by SirLucasTheGreat View Post
Why did CdeBaca torpedo funding for the 5280 trail?
Something along the lines of this being a line item in a large funding package and that she had an ideological objection to something and was unwilling to compromise.
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  #8510  
Old Posted Feb 21, 2020, 8:41 PM
SirLucasTheGreat SirLucasTheGreat is offline
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She sounds like she is a pleasure to work with.
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  #8511  
Old Posted Feb 22, 2020, 9:44 PM
SirLucasTheGreat SirLucasTheGreat is offline
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DenverInfill was all over this but X Denver 3 has broken ground. I believe this is the tallest project to break ground since 2018.
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  #8512  
Old Posted Feb 23, 2020, 1:36 AM
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TakeFive TakeFive is offline
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Originally Posted by SirLucasTheGreat View Post
DenverInfill was all over this but X Denver 3 has broken ground. I believe this is the tallest project to break ground since 2018.
Thanks for the update. So tallest since 'Block 162'? That sounds about right.

These guys are Smooth Operators. They paid a high $ for the land that also needed demolition. But with previous experience with Denver planning they were comfortable moving much faster than the typical developer. Actually they seem to move faster in any case.

No parking
This is the type of project that can more easily justify not having any parking but this is easily the largest project of any note that will go this route. Good for them. This also explains why cost of land wasn't as critical.

Affordable
The X Social concept is designed for affordability including smaller units as well as renting by the bedroom not unlike a dorm concept.

DenverInfill has the latest and only real rendering. Be curious to see if there's an updated rendering when PMG makes a formal announcement - if they even bother doing so?

I see where they've used mezzanine financing for site and planning procurement purposes. These guys are experienced, creative and efficient operators.
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  #8513  
Old Posted Feb 23, 2020, 1:44 AM
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Originally Posted by SirLucasTheGreat View Post
DenverInfill was all over this but X Denver 3 has broken ground. I believe this is the tallest project to break ground since 2018.
It has taken a lot of self control to not punch it and celebrate X3 but I'm glad it's finally going.

Now let's hope I'm not wrong about Kenect.
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  #8514  
Old Posted Feb 23, 2020, 3:24 AM
twister244 twister244 is offline
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It has taken a lot of self control to not punch it and celebrate X3 but I'm glad it's finally going.

Now let's hope I'm not wrong about Kenect.
This is great to hear! I love these projects in AS only because they will help stretch the skyline to the North a bit. Plus, AS is a neighborhood that badly needs TLC and these projects (along with the land barges completed last year will help spark the neighborhood a bit.

I am keeping an eye on 26th/Alcott for any activity there since I live a few blocks away. Still no movement.
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  #8515  
Old Posted Feb 25, 2020, 1:59 AM
bulldurhamer bulldurhamer is offline
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I admit I was wrong. Candi appears to genuinely hate white people. Her performance on Twitter is a sight to behold.
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  #8516  
Old Posted Feb 25, 2020, 6:00 AM
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What could possibly go wrong?

A Black Swan event is by definition impossible to predict.

A Gray Swan can be unexpected like the coronavirus which can have more short term negative impacts of lesser consequence. Gray Swans aren't obvious until they happen but at some point the party tray will be taken away.
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Originally Posted by bushw00d View Post
Is this some sort of elaborate performance art?
Certainly many things are as much art as science. We've certainly entered into shades of gray.

When coronavirus took unexpected root in South Korea and then clusters popped up Italy and Iran then recalculations have to be made.

Even worse is simply the growing uncertainty; markets have a bigger distaste for the unknown than (known) bad news. It's what makes the DOW drop over a 1,000 points in a day and the 10-year T-bill dive below 1.4% after a steady decline recently.

For now, until a higher threshold of new pain, the markets are likely to stabilize and indeed futures are showing a bounce. Specific winners and losers can be sorted out (Clorox stock was up). With respect to Denver and construction at this point it's not an issue - other than for investors becoming nervous about increased potential risks.
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  #8517  
Old Posted Feb 25, 2020, 2:24 PM
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I admit I was wrong. Candi appears to genuinely hate white people. Her performance on Twitter is a sight to behold.
You must be Denver Dystopian. Lol

I mean she's not entirely wrong, but her race baiting doesn't win her any friends. In fact, she seems to be actively trying to be a one term council person. You know which white people she does like? Congress Park 1 percenters that are scared of brown and poor people. It's bizarre.
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  #8518  
Old Posted Feb 25, 2020, 4:50 PM
mhays mhays is offline
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When stocks are shaky, one effect can be that investors put more money in real estate. It's a "safe haven" for institutional money. I mean those who expect a long drop.

If you don't expect a long drop, now's the time to buy stocks of course.
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  #8519  
Old Posted Feb 25, 2020, 6:19 PM
laniroj laniroj is offline
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...When coronavirus took unexpected root in South Korea and then clusters popped up Italy and Iran then recalculations have to be made...
It's a good thing we stopped importing chinese drywall about a decade ago because it was all shit (at least the smart ones stopped). Can you imagine coronavirus hitching a ride on all that apartment drywall, infecting America's center cities?! The virus could affect Denver development if it persists because coastal markets generally pay more for the same stuff and will have priority for the now limited goods over cheapo (in comparison) Denver. I joke, but a huge portion of the finishes in many developments do come from china - could be an issue if this persists another 3-6 months...which is why many companies are diversifying manufacturing out of china (not leaving china, just adding facilities elsewhere). If you want to consume (whatever products) someone will find a way to produce it somewhere....but momentary time periods can get excruciatingly difficult and/or tip off other events which have deep impacts.
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  #8520  
Old Posted Feb 25, 2020, 10:32 PM
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CherryCreek CherryCreek is offline
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Originally Posted by laniroj View Post
It's a good thing we stopped importing chinese drywall about a decade ago because it was all shit (at least the smart ones stopped). Can you imagine coronavirus hitching a ride on all that apartment drywall, infecting America's center cities?! The virus could affect Denver development if it persists because coastal markets generally pay more for the same stuff and will have priority for the now limited goods over cheapo (in comparison) Denver. I joke, but a huge portion of the finishes in many developments do come from china - could be an issue if this persists another 3-6 months...which is why many companies are diversifying manufacturing out of china (not leaving china, just adding facilities elsewhere). If you want to consume (whatever products) someone will find a way to produce it somewhere....but momentary time periods can get excruciatingly difficult and/or tip off other events which have deep impacts.
I think a signifcant global supply disruption is now unavoidable. This is a very rapidly developing situation. People in Wuhan have been locked in their homes for a month now. If a similar situation happens across China and around the world we are looking a very major disruption of the global economy.
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