DENVER | Main Development Thread #7

[jbssfelix]

Originally Posted by Ich

I can’t speak to Austin but for Seattle, they have DRB in place and also are able to achieve higher rents supporting higher quality materials and design. For instance I opened a high rise in the Denny Triangle area, similar to the Confluence (less metal and more glass) but my two bedrooms started at $3890. If you look at buildings pushing those rents, most would agree they like the design. Most people on here aren’t in favor of DRB or any other restriction placed on design elements in favor of cheaper rents. For instance we could say half block sites must be built as twin towers past a certain level (as what Seattle did) but then you increase the cost of construction pushing rents higher or developers will stay under that height lessening the density and available supply. Not saying its perfect but just saying it’s not that big of a deal. They are the first buildings in a transitioning zone. Once the new Greystar, Kenect, various Condo proposals and those adult dorms go up, those awful soul sucking ships won’t have the same impact on the skyline. I used to hate the Manhattan but now it just blends into Union Station and Riverfront.

Austin has some decent guidelines (probably not on the level of Seattle), but it can still churn out drab (or even straight-up hideous) like the rest of them.

[TakeFive]

Quaking markets

https://www.reuters.com/article/us-u...KCN1V41SK?il=0

NEW YORK/LONDON (Reuters) - The U.S. Treasury yield curve inverted on Wednesday for the first time since June 2007, in a sign of investor concern that the world’s biggest economy could be heading for recession. The inversion - where shorter-dated borrowing costs are higher than longer ones - saw U.S. 2-year note yields rise above the 10-year yield.

The U.S. curve inverted on Wednesday to as much as minus 2.1 basis points US2US10=TWEB, a metric widely viewed as a classic recession signal. The U.S. curve has inverted before every recession in the past 50 years, offering a false signal just once in that time.

I think it caught a bid and reversed course slightly but on a day when stocks are down it's always nice to see my Denver's own Newmont Mining shares catch a bounce as Gold is now the highest in 6 years.

Germany's GDP dipped into negative territory in the 2nd quarter; autos and trade tariff jitters.

The Good News is there's no real bubbles out there (that I can see) just some inevitable market adjustments and contortions. Big Retail taking it on the chin today.

Luckily Denver is on more solid footing; nice sustainable balance.

[TakeFive]

Originally Posted by CherryCreek

Dupe.

I'm totally on-board with this.

It's only been ten years...


Courtesy NREL

I can recall when this site followed the construction of the new National Renewable Energy Laboratory in Golden. At that time NREL called the administrative building “the greenest office building in the world.” It was a favorite project of EngiNerd and many of us.

One of the better kept secrets is that Obama's biggest accomplishment has to have been his push into renewable energy. And since Colorado was nice enough to vote for him not to mention hosting the greatest nominating event in history at Mile High Stadium is why NREL was funded as a part of the ARRA. I just know it.

With Trump's ascendancy to the crown I don't doubt that many Republicans in D.C. hoped to starve this beast but EngiNerd wasn't about to let that happen. He sweet-talked ExxonMobil Corp. into investing $100 million into a partnership with NREL towards saving the climate.

https://www.bizjournals.com/denver/n..._news_headline

Billions of people are moving out of poverty into a lifestyle that developed nations have enjoyed... “What we want is 9 billion people who have a quality of life, while managing CO2. What’s the pathway?” asked Vijay Swarup, vice president of research and development at ExxonMobil Corp.’s research and engineering company.

Finding an answer to a challenge so large requires “a reset” — a complete rethinking of assumptions and ways of doing things, and collaboration across the private and public sector, and across scientific disciplines. “We need every ‘ology’ out there, and then we need engineering,” he said.

ExxonMobil’s agreement with NREL makes the 2,200-employee Golden lab the connection to other Department of Energy research arms too.

That's the way it is and that's the way it was.

[CB1]

[CB1]

https://m.imgur.com/gallery/1pU07GS"]https://m.imgur.com/gallery/1pU07GS[/URL]

[Stonemans_rowJ]

What's the time frame for any amendments to the current zoning code/zoning code update? I'm looking to develop a duplex and the zoning is restricted to very specific/less desirable blocks in the areas I'm looking at, and don't want to buy something only to have the whole neighborhood opened up. Anybody have insight into this.

I'm in the East/Central Area, nimby central.

[CONative]

Reported on 9news today that the historic designation application was withdrawn for Tom's Diner.

[laniroj]

Originally Posted by mojiferous

Yes, the GDR was terrible and oppressive. Let's get that out of the way. And yes, these apartments might be ugly and soulless, but they helped give Berlin the lowest housing costs of any western European capital until very recently... Not only that, but Berlin was an amazing place because of the cheap rent and available space. And the western sectors have a lot of really fugly housing too, because most of the city was in ruins in 1945 and a lot of people had to be housed quickly.

I would love if Denver emulated Berlin and actually built housing for everyone. I don't care if everything looks like it was built from used concrete, because the cultural advantages when people aren't worried about housing costs far outweigh any other arguments.

Personally, I don't really care about what the Welton container ships look like, because they're a billion times better than the empty lots that were there before, and it's more city-center housing. If we start bickering about what's replacing empty lots and fighting for more expensive designs we're only going to guarantee empty lots stay empty longer. We still have a lot of dead space to fill before we get to that point.

Spot on Mojiferous, couldn't agree more. Gem designs come when scarcity factors in, ie Union Station, which got the best of it's architecture on the last couple of parcels developed. It is good to know that others believe having people living in and enjoying cities should be the primary concern for all land use decisions - not if it's a hotel or apartment or condo or office, just that people of all types can experience the urban way of life. Maybe that's our new zoning code - do more PEOPLE BENEFIT than not from this development? I'm sure Candi and the commies would say no to everything because, apparently, they value crappy right of way as "open space" in the downtown core...

[The Dirt]

Originally Posted by Stonemans_rowJ

What's the time frame for any amendments to the current zoning code/zoning code update? I'm looking to develop a duplex and the zoning is restricted to very specific/less desirable blocks in the areas I'm looking at, and don't want to buy something only to have the whole neighborhood opened up. Anybody have insight into this.

I'm in the East/Central Area, nimby central.

Did you mean East Central? That's pretty much wrapping up. You're free to pursue a rezoning now though. What block?

EDIT: be prepared to have every rezoning in the city go to super majority vote from now until the city charter is changed.

[twister244]

Nice little article on the status of the Meow Wolf....

https://303magazine.com/2019/08/upda...w-wolf-denver/

[TakeFive]

Originally Posted by CONative

Reported on 9news today that the historic designation application was withdrawn for Tom's Diner.

https://www.bizjournals.com/denver/n..._news_headline

At a city council committee meeting last week, though, Messina said he’s closing Tom’s Diner, regardless of any historic status decisions.

Now, the applicants are hoping for an alternative solution. “We have agreed to withdraw our application in an effort to find alternative solutions for this site and hope that the property owner and the current developer will engage with us in good faith moving forward,” their letter reads.

Not sure what this means? Apparently little but perhaps there was an indication of preserving some sense of the history within the new development.

Originally Posted by twister244

Nice little article on the status of the Meow Wolf....

https://303magazine.com/2019/08/upda...w-wolf-denver/

Fun read.

[rds70]

New concept plan submittal for the Golden Triangle - NE corner of Bannock and 11th:

Proposed multi-use building located at 11th Avenue and Bannock Street. The project is intended to be a 19-story residential building with ground level residential lobby fronting Bannock Street and the ground level retail fronting 11th Avenue. Currently the site has a one-story building at the corner of 11th Avenue and Bannock Street with most of the site being a paved parking lot.

[SirLucasTheGreat]

Originally Posted by rds70

New concept plan submittal for the Golden Triangle - NE corner of Bannock and 11th:

That's a biggin. I didn't know GT was zoned for 19-stories.

[Stonemans_rowJ]

Originally Posted by The Dirt

Did you mean East Central? That's pretty much wrapping up. You're free to pursue a rezoning now though. What block?

EDIT: be prepared to have every rezoning in the city go to super majority vote from now until the city charter is changed.

9/CO area. 1400 block. For instance I heard maybe 1200-1700 blocks will be TU zones. If that’s the case I would not go for 1400 block however that’s the only block that allows it now.

[The Dirt]

Pm me the details so you don't have to be too coy.

[BG918]

Originally Posted by rds70

New concept plan submittal for the Golden Triangle - NE corner of Bannock and 11th:

Wow any more info on this one? Developer/architect?

[SirLucasTheGreat]

Originally Posted by BG918

Wow any more info on this one? Developer/architect?

I think Lennar owns that lot. I might be wrong. They have three 16-19 story apartments in Golden Triangle in the planning phase if I recall correctly. I'll be interested to see if any get started this cycle. Golden Triangle has been booming, which I imagine is driven by the fact that it has some of the most expensive rents in the entire city.

[rds70]

650 17th Street Site SOLD....

From the Denver Business Journal:

A prime piece of downtown Denver real estate where a developer once proposed to build an 81-story skyscraper — the tallest building by far in the city — has a buyer who’s well aware of the former plans for the site and has plenty of experience in large-scale projects.

On Friday, Denver-based Paradise Land Company sold its 25,000-square-foot parcel of land at 650 17th St. for $17.5 million, according to property records. Buzz Geller, managing partner at the firm, confirmed that deal to Denver Business Journal. He purchased the site in 2002 for $3.5 million.

The buyer was Harbinger Development, a Boston-based firm with a number of projects in Beantown and across the East Coast, including hotels, office buildings and multifamily projects.

In an interview with Denver Business Journal, Eamon O’Marah, managing partner of Harbinger, confirmed the purchase and said it’s the firm’s first buy west of the Mississippi.

“We’re very excited to purchase this property,” he said. “We think it’s the most valuable and impactful site in the downtown core.”

[TakeFive]

Originally Posted by rds70

650 17th Street Site SOLD....

From the Denver Business Journal:

Everybody can at least that Buzz no longer owns the site.

Their portfolio is made up mostly of 2nd tier hotels but my guess is that's not likely their intent for this site assuming they have any particular vision.

For whatever reason it popped into my mind that this might have been a result of a 1031 exchange.

I also suspect this could take awhile.

[BG918]

Originally Posted by SirLucasTheGreat

I think Lennar owns that lot. I might be wrong. They have three 16-19 story apartments in Golden Triangle in the planning phase if I recall correctly. I'll be interested to see if any get started this cycle. Golden Triangle has been booming, which I imagine is driven by the fact that it has some of the most expensive rents in the entire city.

Lennar's 10th & Acoma project should be starting before the end of the year. Another half block of density.



www.sararch.com

And 955 Bannock (10 story office) should also be starting within the next couple months, just as Parq on Speer is finishing up.