DENVER | Main Development Thread #7

[TakeFive]

Ready to Rent TOD

Tempo Nine Mile Station in Aurora Set to Welcome First Residents
January 30, 2025 -- Mile High CRE

Tempo Nine Mile Station, a new 255-unit rental community at 12150 E. Dartmouth Ave. in Aurora, is set to welcome its first residents beginning Feb 1. The project is a joint venture between Draper and Kramer, Incorporated, Koelbel and Company, Mile High Development and Urban Roots Development, Inc.

“As we prepare to unveil the newest addition to The Point, we can already see the different components of the master plan take shape, establishing a vibrant new town center that takes full advantage of its accessible location near transit, employment centers and recreational offerings,” said Todd Bancroft, president and CEO of Chicago-based Draper and Kramer.

Interesting financing.

PGIM is the project lender, utilizing the HUD 221(d)(4) multifamily new construction loan program.

Tempo Nine Mile Station






Images courtesy Draper and Kramer et al.

I used to live in a townhome along the High Line Canal Trail, not far from this property but closer to Babi Yar Memorial Park with its adjacent patio home style homes that caters to the Jewish community.

The general area near 'Nine Mile' has a lot of condos and townhomes but some apartments. I don't think the area has seen new development in 40 years so despite the upscale prices for units I'd think they should do well. They are offering one month FREE rent plus a $500 'look and lease." From studios to three-bedrooms.

[TakeFive]

Have I mentioned that I'm having to do physical therapy

Originally Posted by Fritzdude

Ha.. you ain’t kidding about the negative Nancies that comment whenever a new Instagram post is made available by DevelopingDenver. I think they do a great job, but every critic has to complain about the homeless, Mayor Johnson, and the liberal policies that are killing Denver. I think the brain rot that started with politics has seeped down into every aspect of life, including urban development.

I'm suffering from severe whiplash between the "Left and the Right." Where did the middle go?

Originally Posted by AHS1983

Don't ever go on NextDoor. Boomer NIMBYs galore.

Depending on where you live it's not just Boomers (like me) but it's nice to know that Denver City Council has nothing more serious to worry about.

[wong21fr]

Originally Posted by Fritzdude

Ha.. you ain’t kidding about the negative Nancies that comment whenever a new Instagram post is made available by DevelopingDenver. I think they do a great job, but every critic has to complain about the homeless, Mayor Johnson, and the liberal policies that are killing Denver. I think the brain rot that started with politics has seeped down into every aspect of life, including urban development.

Oh yeah, it's not the place for discourse on urban development. I know that there was some hope the the (two) Denver development threads on Reddit might be a good forum, but that never panned out. There just isn't a location that adds development updates and comprehensive discourse together.

I'd suggest this forum, but it would require some effort to get the dialogue going again.

[wong21fr]

Originally Posted by TakeFive

I'm suffering from severe whiplash between the "Left and the Right." Where did the middle go?

The middle is mushy,full of compromise, and lacks visceral emotional reactions. That shit doesn't get influencer likes.

[DenvertoLA]

So I have a question for someone in the industry. At what stage does demolition get green lit? We have two projects ( the one on Lincoln st, and the two tower project in... uptown is it? ) that both completed demo of structures on their lots.

I would think green lighting demo means financing was secured or as good as secured. It seems like a lot of money to spend prepping a site only to walk away. Should we infer that since these two projects completed demo that they will break ground this year?

[laniroj]

Originally Posted by DenvertoLA

So I have a question for someone in the industry. At what stage does demolition get green lit? We have two projects ( the one on Lincoln st, and the two tower project in... uptown is it? ) that both completed demo of structures on their lots.

I would think green lighting demo means financing was secured or as good as secured. It seems like a lot of money to spend prepping a site only to walk away. Should we infer that since these two projects completed demo that they will break ground this year?

Many reasons to demo. Sometimes demo is indicative of imminent ground break, other times not. If the structure is a liability, demo happens early. If the structure has in-place income, it might stick around until just prior to ground break. If the structure is historic, demo happens ASAP. I've found demo is typically pretty inexpensive and can happen early after acquisition, thus it's not too telling as to whether or not vertical development is about to start.

[TakeFive]

Denver just changed the rules for how properties are rezoned
Feb. 03, 2025 By Kyle Harris -- Denverite

On Monday night, Denver City Council approved changes that could make things simpler. The goal: to make the process more “accessible, transparent and equitable,” according to a statement from Community Planning and Development.

The goals of the changes were to address historical disparities, prevent displacement and create neighborhoods where all residents benefit from growth and investment, said City Council President Amanda Sandoval.

Priceless quote:

The change “moves us away from problematic language with an exclusionary and racist past.” Senior City Planner Brandon Shaver told the city council.

My Snarky Response

Which Gods should I pray to in order to atone for my past sins that I wasn't even aware of? All I know and have lived by is the Fair Housing Act which included making Red Lining illegal and was passed in 1968.

At least I like this:

Additionally, city agencies will have a shorter period of time to review potential rezonings and submit comment.

I'll give them an attaboy for effort.

The city has spent the past two years on a project to try to overhaul the process.

Just curious; Does anybody understand this better than me? (It wouldn't take much) The classic definition I learned through real estate was: "Highest and Best Use"

[TakeFive]

"Ladies and Gentlemen, Start Your Engines"

Interest Forms for $570M Plan of Development Now Open
February 4, 2025 -- Mile High CRE

The city is currently gathering Registration of Interest (ROI) forms for the Denver Downtown Development Authority (DDDA) to identify potential transformative projects that fit within the approved Plan of Development. This information will assist in assessing the project pipeline before formal applications open in spring 2025.

Ahead of the formal application process, the city will host several public information sessions on eligibility and requirements in connection with opening applications.

[TakeFive]

https://kdvr.com/news/local/uniteds-fili...-signal-possible-hq-move-out-of-chicago/

[wong21fr]

Originally Posted by TakeFive

https://kdvr.com/news/local/uniteds-fili...-signal-possible-hq-move-out-of-chicago/

Here's a direct link to the site master plan:

https://kdvr.com/wp-content/uploads/sites/11/2025/02/United-Airlines-Denver-filing.pdf

Certainly looks like the possibility of a new HQ campus (such as keeping the parcels with the best damn viewplanes open for now). Pena Blvd anti-expansion candidates will be pissed.

[TakeFive]

............

Honey; they got their money

$112M Loan Secured For Capitol Hill Multifamily Project
February 5, 2025 By Jonathan Rose, Denver

Kaia Residences -- 808 Lincoln Street


Courtesy Trailbreak Partners

Denver-based Trailbreak Partners secured a $111.5M construction loan from Affinius Capital to develop Kaia Residences, an 18-story, 295-unit multifamily project at 808 N. Lincoln St. Denver's Capitol Hill neighborhood.

The development will feature studio to three-bedroom apartments, street-level retail, upscale amenities and 290 parking spaces.

Not sure all the details but guessing Affinius Capital is an equity partner as one piece. Also not sure when shovels hit the ground.

[AHS1983]

If GSA plans come to fruition, how much space in Denver metro could come onto the market?

Looking over the list, I see some that could be sold off.

[TakeFive]

Originally Posted by AHS1983

If GSA plans come to fruition, how much space in Denver metro could come onto the market?

Looking over the list, I see some that could be sold off.

This stuff is better than the clown show at the Circus!

I think it was a CPR piece that suggested they could sell the Federal Center in Lakewood - but it's D.C. that will be the bigger focus; I've read that several leases have been cancelled in buildings barely occupied.

Despite the noise and relative speed it will likely take some time to sort out. I'm guessing Denver/Colorado will be impacted some but perhaps not all that much?

[TakeFive]

Wellness-Focused Wilder Opens in Denver
February 10, 2025 -- Mile High CRE

The Max Collaborative announced the grand opening of Wilder, a new apartment home community on West Colfax Avenue in Denver. Designed by Davis Partnership Architects, Wilder features Art Deco-inspired architecture and an expansive art program designed to connect residents and invoke a sense of community. Located at 1521 Hooker Street just one mile west of downtown, Wilder is available to lease.

Over 400 pieces of art were curated for Wilder by NINE dot ARTS, a Denver-based, women-owned art consultancy that advocates for both art and artists, adding to the community connection and overall artistic-forward design of the project.

Wilder - 1521 N Hooker St Denver




Images Courtesy Max Collaborative

Quick Bckstory:

Max Collaborative, for their 1st Denver project built One River North and for their 2nd Act they built The Broadleaf at Fitzsimons and now the Wilder.

[wong21fr]

Originally Posted by AHS1983

If GSA plans come to fruition, how much space in Denver metro could come onto the market?

Looking over the list, I see some that could be sold off.

These two right here come to mind right away:

Federal Garage Building
2106 California Street
Denver, CO 80205-2822Federal Garage Building
2101 Welton Street
Denver, CO 80205-2808

[AHS1983]

Originally Posted by wong21fr

These two right here come to mind right away:

Federal Garage Building
2106 California Street
Denver, CO 80205-2822
Federal Garage Building
2101 Welton Street
Denver, CO 80205-2808

Apple Maps shows both surrounded with tents. Nice.

[DenvertoLA]

All this development here makes me pissed RTD didn’t build the W line on Colfax.

Originally Posted by TakeFive

Wellness-Focused Wilder Opens in Denver
February 10, 2025 -- Mile High CRE


Wilder - 1521 N Hooker St Denver




Images Courtesy Max Collaborative

Quick Bckstory:

Max Collaborative, for their 1st Denver project built One River North and for their 2nd Act they built The Broadleaf at Fitzsimons and now the Wilder.

[TakeFive]

Hard to disagree

Originally Posted by DenvertoLA

All this development here makes me pissed RTD didn’t build the W line on Colfax.

Interestingly, if you go way back to the late 1970's when they first started thinking about light rail they were looking at MLK Blvd and West Colfax. The blacks who lived along MLK Blvd went crazy with disdain. They now had cars they drove; they might be dinged here, a dent there but they spent weekends shining up their rides. They found the light rail proposal insulting as if sending them to the 'back of the buss' all over again. With west Colfax the issues were different but 'back then' nobody wanted light rail.

Although not everybody likes the current FasTracks corridors I'm sure they wanted to avoid any prolonged fights against light rail routes so we get what we got.

[TakeFive]

With respect to renaming the 16th Street Mall
Feb. 17, 2025 By Kyle Harris -- Denverite


Photo courtesy Catie Cheshire -- Westword

I'm voting for Mark Barnshouse to be the Mayor of Downtown

Mark Barnhouse, who wrote the only book about 16th Street, said renaming the street is misguided.

“All of the suggestions for renaming the 16th Street Mall are bad ones, no different from DEN for DIA or any of the corporate-sponsored renamings of what everyone (that I know, anyway) still calls Mile High Stadium,” he wrote.“It’s basically impossible to get people to accept a name change, especially one that has been in use since the late 1970s,” he wrote.

Uncommon wisdom that Mark Barnhouse.

And Barnhouse doesn’t believe rebranding is how the Downtown Denver Partnership should address the perception of crime.

“I don’t care how many expensive consultants DDP uses, anyone who says a rebranding will bring people back down is just taking easy money from gullible people,” Barnhouse wrote. “What will bring people downtown is going back to basics: reduce crime, get the randomly shouting, off-their-meds people off of the mall, and find a way to subsidize rents so that restaurants and shops can afford to stay open.”

[COtoOC]

Originally Posted by TakeFive

With respect to renaming the 16th Street Mall
Feb. 17, 2025 By Kyle Harris -- Denverite


Photo courtesy Catie Cheshire -- Westword

I'm voting for Mark Barnshouse to be the Mayor of Downtown

Uncommon wisdom that Mark Barnhouse.

I couldn't agree more with him on that!! Get the crazies off the Mall and it'll do so much better.

That said, I was down there last weekend to eat dinner (mall-adjacent) and didn't see anything odd anywhere. Restaurant wasn't super busy, but we were on the early side. And it wasn't a cheap place to eat at all.