DENVER | Main Development Thread #7

[laniroj]

Originally Posted by COtoOC

I drive through the DTC daily to work and didn't realize that the building under construction on the west side of Belleview Station was going to be so tall. Looks like they just jumped the crane.

I'm assuming this is the Belleview Station Block F? I'm always amazed at how fast Belleview Station has built up and the mini skyline created in such a short time.

https://milehighcre.com/belleview-station-announces-approval-of-block-f/

You have to remember that Bellview Station was planned for in the early 2000's, It took 20 years to get all that development going. Once it starts though, yes, the flock development mentality builds an area out quickly.

[TakeFive]

Originally Posted by laniroj

I've just been lurking lately but I'll join in on this one. Have you been downtown lately? It's abysmal. I saw three people while walking 4 blocks the other week at 8:45AM, including crossing over 16th Street Mall - I even walked past an active RTD train unloading - 0 people. To say the energy is dead downtown would be an understatement. It's less than dead. Upper downtown - somehow even worse. LoDo still has energy but nothing like pre-covid. I admire these developers taking the risk down there and wish them well.

Personally, my outlook for Downtown is akin to the immediate aftermath of the savings and loan era where downtown was just empty but in some ways it's almost worse now than it was then. The suburban folks now seem to be avoiding downtown entirely whereas in the 80's they were still coming downtown for shows, plays, shopping, etc. I honestly don't know if Downtown will recover, ESPECIALLY so if River Mile takes off.

Wrong Time of Day

Early spring sunshine brings a much-needed financial boost to bars, restaurants across Front Range
Mar 31, 2026 By Adria Iraheta -- Denver7 News

DENVER — Unseasonably warm weather is bringing an early summer rush to local bars and restaurants across the Denver metro area, providing a much-needed boost to businesses during what is typically their slowest season.

In Larimer Square, the patios are packed. At Tamayo, the restaurant has been busy for the past month and a half. "It fills up quickly, and then it continues through happy hour, all into the evening and even to the later parts of the evening, because it's staying warmer at that time," Scott Rash, general manager of Tamayo by Chef Richard Sandoval, said.

ANECDOTALLY

Even in the suburbs, If I want to go shopping and get in and out then I get there before 11:00 AM. I stopped by my bank today at 10:30 AM and it was pretty quiet.

Even for busy Walmart, get there before 11:00 AM. Sam's Club is a little different because their hours are from 9:00 AM until 8:00 PM -- unless you're a $200 member then you can get in at 8:00 AM. I only belong because they have cheap gas since I do rideshare. Speaking of rideshare, between 9:00 AM and 11:00 AM is the worst time of day to make any money.

The One Exception is my girlfriend; she likes to get up ~ 6:00 AM and Go, Go, Go.

True Story

A year ago, middle of February, I wake up in the middle of the night and decide I need a girlfriend. So I started searching the Interwebs. I came across this guy who had taken a job in NYC and couldn't take his girlfriend with him. I told him I was interested. Next evening he calls to confirm my interest. We soon meet at a QuikTrip gas station. As I turn the corner I could see them outside of their car. I pull in behind them and get out. She is absolutely beautiful. I paid him the agreed $600 and opened up my back car door and she jumped right in.

My girlfriend is now a two-year-old brown and white Goldendoodle.

[TakeFive]

Cleanup in Aisle Five

Owner of south suburban office complex defaults on $133M loan
April 1, 2026 By Thomas Gounley | BusinessDen -- The Denver Post

The owner of a large suburban office complex in Centennial has defaulted on its loan. The $133 million loan for six buildings within Panorama Corporate Center matured last June, meaning it needed to be paid off that month, according to commercial real estate loan-tracking firm Trepp.

Out with the Old; In with the New

Originally Posted by COtoOC

I drive through the DTC daily to work and didn't realize that the building under construction on the west side of Belleview Station was going to be so tall. Looks like they just jumped the crane.

I'm assuming this is the Belleview Station Block F? I'm always amazed at how fast Belleview Station has built up and the mini skyline created in such a short time.

It's true, going all the way back to the 1980's nobody had any interest in that corner of the Tech Center.

Two things made all the difference

• Light Rail ran along that side of I-25
• Because that area (north of Belleview) is in Denver they were approved for higher density

The rest is quickly becoming history.

[TakeFive]

Interesting but not necessarily surprising

Originally Posted by mhays

The Seattle post has some correct things, but in some ways Downtown Seattle is still booming -- tourism and resident population hit new highs every year.

For people visiting Colorado, Denver is the most popular (even if just the first stop). Much is the same for people moving to the area, Denver is often their first stop -- although the City of Denver is currently suffering from a stagnant net migration.

While not as robust as pre-COVID, Denver still does a healthy convention business.

All these groups of people (generally) couldn't care less about the vacancy rate of downtown office buildings. It was important though for Denver to clean up its act downtown.

It will interesting to see how this year goes.

In the desert there was record crowds for Spring Training but I haven't yet gotten a read on April. There was a noticeable drop off of Canadian visitors last year. Fortunately many still come because they bought condo's down here.

But with the current very confused economy this year may suffer some?

[TakeFive]

Denver poised to throw lifeline to developments delayed by financing
Mar 20, 2026 By TRD Staff -- The Real Deal

Denver officials are throwing a lifeline to builders stuck in development limbo due to lags in financing. The city’s Planning Board voted unanimously Wednesday for a proposal to extend deadlines for hundreds of approved projects that have yet to start construction, the Denver Business Journal reported.

The change, proposed by the Department of Community Planning and Development, would apply to projects approved on or before Dec. 31, 2025, granting three years beyond the current 30-month window.

NEXT:
Gov. Polis signs bill letting schools and universities bypass some zoning rules to build housing
Mar. 26, 2026 By KUNC

Too little too late.

I would have been much more impressed if either the State Legislature or the City would have brought down the cost of Insurance etc or even property taxes. The legislature especially has passed questionable tenant protections that make life difficult for landlords. Better transparency is fine; it's all that other crap they've passed.

I have this not-good feeling that some apartments will run into trouble. They won't go vacant; it's a matter of being over-encumbered. Unfortunately, if they go through foreclosure they can milk the property on their way out.

To the legislature I say: "Be careful what you wished for."

[TakeFive]

Coming Back Around

Your assessment is very fair.

Originally Posted by laniroj

To say the energy is dead downtown would be an understatement. It's less than dead. Upper downtown - somehow even worse. LoDo still has energy but nothing like pre-covid. I admire these developers taking the risk down there and wish them well.

Personally, my outlook for Downtown is akin to the immediate aftermath of the savings and loan era where downtown was just empty but in some ways it's almost worse now than it was then. The suburban folks now seem to be avoiding downtown entirely whereas in the 80's they were still coming downtown for shows, plays, shopping, etc. I honestly don't know if Downtown will recover, ESPECIALLY so if River Mile takes off.

Above I compared Seattle and Denver downtowns.

With respect to Denver we could slice it up into various pieces. But as I have often stated, downtown Denver is really rather compact. Seattle's downtown by comparison is much more spread around.

Seattle's downtown has about 71 million square feet of office space. Denver by comparison has nearly 30 million square feet of office space.

If Asher Luzzatto succeeds in converting his four towers into residential that's a big chunk of space that becomes enlivened by residents (as wong pointed out). He's looking at 2030 for finishing just two of the towers so it will feel like a slow slog at times.

Upper downtown will continue to struggle for years even if there is slow improvement. Having the redevelopment of 16th Street finished is huge but there will be fits and starts with retail. Partly it's the nature of retail, especially restaurants.

Last item, I still wouldn't be surprised if a few office towers get demoed. That could provide fresh ground for more conventional luxury apartments.

[COtoOC]

Originally Posted by TakeFive

Cleanup in Aisle Five

Owner of south suburban office complex defaults on $133M loan
April 1, 2026 By Thomas Gounley | BusinessDen -- The Denver Post


Out with the Old; In with the New

It's true, going all the way back to the 1980's nobody had any interest in that corner of the Tech Center.

Two things made all the difference

• Light Rail ran along that side of I-25
• Because that area (north of Belleview) is in Denver they were approved for higher density

The rest is quickly becoming history.

Yeah, I knew it was all zoned for high density being near a train station. We've had a work happy hour at some bar/restaurant over there and it's a nice, urban addition to the DTC. I've enjoyed watching it all rise over the years during my miserable commute.

[RiNo Randy]

Originally Posted by COtoOC

Yeah, I knew it was all zoned for high density being near a train station. We've had a work happy hour at some bar/restaurant over there and it's a nice, urban addition to the DTC. I've enjoyed watching it all rise over the years during my miserable commute.

I can relate. From 2007-17, I lived in Park Hill and my office was in Meridian Business Park. So on the days I wasn't taking the A-Line to DIA once it opened, I had a similar miserable commute, particularly after coming down Colorado Blvd.

[TakeFive]

Nice articles about the Rockies home opener/weekend

Denver businesses celebrate Rockies’ home opener weekend
Apr 4, 2026 By Anna Coon -- KDVR

Large crowds filled Coors Field for the home opener, with fans spilling into nearby bars and restaurants before and after the game. For many local businesses, the influx of customers marked a strong start to a critical time of year.

“Any small business right now has been kind of struggling to keep afloat,” said Manny Ghotra, owner of Krave It Denver. “Baseball is providing a huge boost to the economy, especially in LoDo, where it’s much needed.”

I had No Idea

According to the Downtown Denver Partnership, last year’s home opener drew about 250,000 people downtown.

My focus was always on the ~ 48,000 fans that filled the stands for the game.

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Denver fans celebrate sports-filled Saturday at Stoney's with pair of thrilling victories

DENVER — Colorado Avalanche and Denver Nuggets fans packed Stoney's Bar and Grill on {1111} Lincoln to celebrate a pair of thrilling victories on Saturday. The venue hosted the official Avalanche watch party as the team shut out the Dallas Stars 2-0.

Denver7 was there as the team scored an empty-net goal to seal the victory alongside the team mascot, Bernie.

Photo by: Jacob Curtis, Denver7 Photojournalist

I've stated that downtown Denver has three catalysts that have made all the difference.

• Coors Field and the Rockies were the first.
• The second was the doubling of the Colorado Convention Center along with the recent updating and expansion.
• The third was Denver Union Station and neighborhood.

In addition 16th Street is a unique amenity and tourist draw so that's also important.

[TakeFive]

It's like a virus that grows and grows

Moody's: Office Vacancy Hits 21% In Q1, Another Record High
April 06, 2026 By Maddy McCarty, Houston Bisnow

U.S. office vacancy hit a new high as commercial real estate’s subdued 2025 performance carried into the first quarter of 2026, according to a report from Moody’s Analytics.

Two markets in Texas and California led the increase in vacancy rates, with nearly 1M SF of office occupancy losses each.

And for 2026?

The trend reflects structural and cyclical forces, including the demand for higher-quality space and smaller footprints. Moody’s expects vacancy to continue rising this year as more leases expire.

It's hard to predict but in an odd way it feels like Denver is ahead of the crowd and moving towards healing.

[COtoOC]

Originally Posted by TakeFive

It's like a virus that grows and grows

Moody's: Office Vacancy Hits 21% In Q1, Another Record High
April 06, 2026 By Maddy McCarty, Houston Bisnow

And for 2026?

It's hard to predict but in an odd way it feels like Denver is ahead of the crowd and moving towards healing.

My employer forced us to come in to the office 4 days per week starting this year vs. 3 days per week the past 3 years or so. I know I'm enjoying the extra day of traffic

[AHS1983]

Will Republic Plaza ever be dethroned as Denver’s tallest building?

[TakeFive]

It's gotten crazy with all the construction shenanigans

AI Overview -- Credit BusinessDen/Justin Wingerter

Developer Amacon is suing 8G Solutions, a window contractor, alleging a "deliberate and sustained scheme" to conceal structural failures in windows installed at the 38-story Upton Residences in Denver. The lawsuit alleges 8G Solutions hid failed mock-up tests and installed unsafe windows, requiring costly removal and replacement.

• The Scheme: Amacon claims, based on internal emails and depositions, that 8G Solutions was in over its head and hid repeated window failures to avoid being fired.
• Defective Work: The windows installed at the Upton Residences were deemed, in the lawsuit, to be capable of failing in a windstorm.

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Originally Posted by COtoOC

My employer forced us to come in to the office 4 days per week starting this year vs. 3 days per week the past 3 years or so. I know I'm enjoying the extra day of traffic

Do you still have a son at Kent Denver?

[COtoOC]

Originally Posted by TakeFive

It's gotten crazy with all the construction shenanigans

AI Overview -- Credit BusinessDen/Justin Wingerter

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Do you still have a son at Kent Denver?

Yes, 2 who will graduate in June.

[COtoOC]

Originally Posted by AHS1983

Will Republic Plaza ever be dethroned as Denver’s tallest building?

Not in this economy. I remember that 1K foot (or so) proposal a few years ago would have really looked nice.

[TakeFive]

Thomas Gounley/BusinessDen announced that CHFA is selling this building:

1981 Blake Street


Courtesy CHFA

And leasing the 17th floor of 1900 Lawrence Street for 13 years. So good news for 1900 Lawrence.

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Originally Posted by TakeFive

It's gotten crazy with all the construction shenanigans

Denver Zoo sues over $19 million sea lion habitat construction, alleging ‘errors, omissions, and deficiencies’
Apr 09, 2026 By: John Wenzel | The Denver Post via Denver7 News

Get a load of this mess:

DENVER — A $19 million sea lion habitat that opened less than a year ago is already rusting, leaking, and breaking down mechanically, the Denver Zoo Conservation Alliance said in a lawsuit filed against the attraction’s design firm and contractor.

The habitat, called Schlessman Shores, was supposed to be a state-of-the-art facility for the zoo’s California sea lions when it debuted in June 2025.

However, zoo officials are now citing dozens of problems with the completed habitat, which is already dangerous, unsightly, and a waste of resources, according to the lawsuit, which was filed on March 17 in Denver District Court. They’re seeking unspecified damages from Colorado companies Vertix Builders and Barker Rinker Seacast Architecture (BRS).

[TakeFive]

Oops.. I just noticed this was a double-post, so...

Taft Expands Lease at Block 162 in Downtown Denver, Supporting Rapid Colorado Growth
4/01/2026 By Lyle A. Wallace -- Taft

Taft, one of the nation’s fastest-growing law firms, has signed its third lease at Block 162, a 30-story, 596,295-square-foot Class A speculative office building developed by Patrinely in the heart of Denver’s central business district. The firm is expanding its footprint from approximately 72,000 square feet to include an additional 29,181 square feet – a move that reflects the firm’s continued growth and long-term investment in the Denver market.

At least one company is growing and growing.

Taft first moved into Block 162 in December 2021 as Sherman & Howard (S&H), prior to its Jan. 1, 2025, merger with Taft. The firm was the office tower’s first tenant, occupying the 23rd and 24th floors. As the Denver team grew, S&H signed a second lease in March 2023, adding 12,049 square feet on a portion of the 22nd floor. Since joining Taft, the Denver office has continued to build on that foundation, expanding its platform and attracting new talent across multiple practices.

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Denver’s real estate divide: Downtown office buildings struggle as Wash Park homes soar
Apr 1, 2026 By Hanna Powers -- KDVR

DENVER (KDVR) — Denver’s real estate market is telling two very different stories.

While some downtown office buildings are sitting vacant and selling at steep discounts, home prices in neighborhoods like Wash Park, Bonnie Brae and Cherry Creek continue to climb — in some cases rivaling or exceeding the price of commercial properties.

Experts say the divide reflects a broader shift in how and where people want to live and work following the COVID-19 pandemic.

[TakeFive]

Hundreds of Colorado business leaders call for action as nearly 100 companies leave the state
April 9, 2026 By Shaun Boyd -- CBS News Denver

Colorado is losing businesses and jobs at an alarming rate. Now, the ones who've stuck around are calling on state leaders to make changes before things get even worse. The Colorado Chamber of Commerce has been sounding an alarm for years about excessive regulation and, last year, more people moved out of Colorado than into the state.

The chamber says companies are also relocating out-of-state. It released data showing, since 2019, 98 companies have either left the state, expanded elsewhere, or scrapped plans to move here. Since 2022, Colorado has also had a net loss of 34 public company headquarters. Some of the states seeing gains from Colorado's losses included Texas, California and North Carolina.

Alert the Politicos

More than 200 business and civic leaders signed a letter to Gov. Jared Polis, Sen. John Hickenlooper, Denver Mayor Mike Johnston, and Democratic gubernatorial candidates Michael Bennet and Phil Weiser. It warns of dire consequences if Colorado doesn't become a more welcoming place for job creators.

Wait for the Happy Talk from the politicos.

[TakeFive]

DTC office buildings sell for 50% discount
April 10, 2026 By Thomas Gounley -- BusinessDen

Denver Corporate Center II -- 7800 E Union Ave


Courtesy JLL

Denver Corporate Center III -- 7900 E Union Ave


Courtesy LoopNet

AI Overview

Denver Corporate Center I and II in the Denver Tech Center (DTC) sold for $36.15 million, a 50% discount from their 2019 value. The buildings, located at 7800 and 7900 E. Union Ave, highlight continued distress in the Denver office market, driven by high vacancy rates and changing work trends, following other major price drops in the area.

• Property Details: Denver Corporate Center II and III (7800 and 7900 E. Union Ave)
• Sale Price: $36.15 million, finalized on April 8, 2026

7900 E Union is known for its Regus co-working space.


Courtesy LoopNet

Interestingly, a 50% discount means the buildings actually had value. The 7800 E Union Ave building appears to be in nice condition with a bevy of office suites.

The other thing that jumps out is the copious amounts of land with these buildings.

[RiNo Randy]

Originally Posted by TakeFive

I rather like the name "AVE Station House." Also interesting neighbors with upscale One River North across the street from what will be a 'downscale' project. I see where they'll only have 82 parking spaces.

I find this to be an interesting comment as all residential buildings within the 38th & Blake Station area need to include an affordable housing element to take advantage of the 16 story height allowance/incentive, including 1RN. Keep in mind that at 3850 Blake, 40-70% of the units will be designated affordable, with only 107 parking spaces for 310 units.

I did find it interesting that the website is live for AVE Station House: https://www.aveliving.com/locations/denver-co/station-house But I noticed that it is being marketed as "Luxury Residences". Make of that what you will.

The tower crane base at was poured on that site and the crane itself should be erected beginning tomorrow (equipment is on site and being prepped).

It also seems that excavation work for 3875 Walnut has commenced as well.

Site preparation continues at 3300 Blake. Just another quick note here - the zoning for that site is equally split between a max of 8/12 floors.