DENVER | Main Development Thread #7

[RiNo Randy]

Interesting development. Kyle Zeppelin has regained control of Zeppelin Station.

Not sure about the fitness center mixing with dining options, but I think this is the correct strategy for now: "He plans to turn part of the space into a fitness center. He still wants to have food stalls, likely between two and six, and is open to pop-ups or having one operator run multiple concepts. And he’s more interested in solid lunch options than being a nighttime hot spot."

Full article here: https://businessden.com/zeppelin-regains-control-of-zeppelin-station/

[TakeFive]

The Peña Boulevard redesign may include a lane expansion, better transit options and more
Jul. 13, 2026 By Paolo Zialcita/Denverite

For years, airport officials have been considering options for Peña Boulevard. ... Since last year, the airport has been studying options through a federally mandated process for how to improve the highway. On Monday, it released a list of curated ideas that the public can weigh in on.

The airport's preferred design for an improved Peña Boulevard is yet to be finalized. But it is expected to include a lane expansion, using either a “managed lane” or “collector-distributor road” model.

I had stated previously that adding Frontage Roads could separate local traffic from traffic headed to the airport. A “collector-distributor road” is a specific type of Frontage Road.

Three roadway redesigns are being elevated for in-depth evaluation: the use of managed lanes, collector-distributor roads and a combination of the two.

The collector-distributor model would create separate lanes that allow vehicles going to and from the airport to drive separately from those traveling between local destinations, like homes and stores in the Green Valley Ranch neighborhood.

For me it seems like Common Sense to separate airport traffic from local traffic. Especially as DIA gets busier and busier clearly the best alternative should include the collector-distributor model.

[TakeFive]

Originally Posted by RiNo Randy

Interesting development. Kyle Zeppelin has regained control of Zeppelin Station.

Not sure about the fitness center mixing with dining options, but I think this is the correct strategy for now: "He plans to turn part of the space into a fitness center. He still wants to have food stalls, likely between two and six, and is open to pop-ups or having one operator run multiple concepts. And he’s more interested in solid lunch options than being a nighttime hot spot."

Just a Head's Up that by searching Google Images you can find a better image for fitting the page on our site. Ideally, max width is about "1024" or as close to that as you can find.

Here is one image that I found:


Courtesy Zeppelin


NOTE: Oddly the photo at BusinessDen states that it's "1024x768" but then it blows up when you post it here. Have no clue and it makes it more difficult.

[Fritzdude]

Originally Posted by TakeFive

I assume/hope this will get approved

Luzzatto asks DDDA for $29M for second residential conversion

Wait.. so this Luzzatto dude is going to convert the two building that make up the energy sector on Broadway while also in the process of converting the properties up the street at 1621 and 1633 California (which this article mistakenly identified as 621 and 633 California).. What’s his resume and finances look like that Denver trusts him with such massive properties? What kind of team is he leading to pull this off? Where might a grocer go? Inside one of these properties? Rather - how cool would it be to see one of the large parking lots off Lincoln transform into a multi-level mixed use grocery anchored development, similar to the Whole Foods in the Union Station neighborhood.

[RiNo Randy]

Originally Posted by TakeFive

Just a Head's Up that by searching Google Images you can find a better image for fitting the page on our site. Ideally, max width is about "1024" or as close to that as you can find.

Here is one image that I found:


Courtesy Zeppelin


NOTE: Oddly the photo at BusinessDen states that it's "1024x768" but then it blows up when you post it here. Have no clue and it makes it more difficult.

I clipped that photo from businessden, as you noted. I had no idea it would show up that size.

I'm not going to take the time to search for another picture to make my post fit into whatever random constraints you think it should.

[RiNo Randy]

Originally Posted by TakeFive

The Peña Boulevard redesign may include a lane expansion, better transit options and more
Jul. 13, 2026 By Paolo Zialcita/Denverite

I had stated previously that adding Frontage Roads could separate local traffic from traffic headed to the airport. A “collector-distributor road” is a specific type of Frontage Road.

For me it seems like Common Sense to separate airport traffic from local traffic. Especially as DIA gets busier and busier clearly the best alternative should include the collector-distributor model.

There was a comment from another poster on a different platform that had what I thought would be a great solution.

Flyover from I-70E to E-470N with toll free lanes to Pena Blvd. Heck I think you could probably configure an "express route" from west of 225 to make it really work.

While I'm dismayed by this, but a third lane on Pena is all but a reality. If it were only a dedicated express lane the entire 10 miles from I-70, that would make sense.

[TakeFive]

Originally Posted by Fritzdude

Wait.. so this Luzzatto dude is going to convert the two building that make up the energy sector on Broadway while also in the process of converting the properties up the street at 1621 and 1633 California (which this article mistakenly identified as 621 and 633 California).. What’s his resume and finances look like that Denver trusts him with such massive properties? What kind of team is he leading to pull this off? Where might a grocer go? Inside one of these properties? Rather - how cool would it be to see one of the large parking lots off Lincoln transform into a multi-level mixed use grocery anchored development, similar to the Whole Foods in the Union Station neighborhood.

From the linked article:

His plan is to convert the vacant 1625 Broadway tower into 386 apartments, while 1675 Broadway remains office space.

This sounds like a wise choice to only tackle one of the two Energy Center buildings.

There's also this.

AI Overview

The Luzzatto Co. is expanding its Denver presence, having recently hired New York-based architecture firm HLW. HLW has officially set up a permanent office in Denver at the 1801 California building downtown to spearhead Luzzatto's massive local projects

IMO, Denver is really, really fortunate that Luzzatto discovered this opportunity and pursued it.

-------------------------------

Originally Posted by RiNo Randy

I clipped that photo from businessden, as you noted. I had no idea it would show up that size.

I'm not going to take the time to search for another picture to make my post fit into whatever random constraints you think it should.

I appreciate your efforts.

[TakeFive]

Lincoln Park apartments in receivership after maturity default
July 14, 2026 By Thomas Gounley/BusinessDen

A Lincoln Park apartment building is in receivership after its developer failed to pay off a loan. The Pop Denver building at 655 N. Santa Fe Drive was developed by First Stone Development, led by Lenny Taub.

The five-story, 123-unit building broke ground in 2021 and was completed in mid-2023. In December of that year, First Stone took out a $35 million loan from Construction Loan Services II.

Pop Denver Apartments - a prefabricated Building



Apparently this project had a number of issues during construction.

[TakeFive]

If only there were an easy answer

"Walk a mile in my shoes"

Cap Hill residents implore city to crack down on crime, homelessness
July 14, 2026 By: Matt Geiger/BusinessDen

Marty Duman’s dad bought the apartment building in Cap Hill on the southeast corner of Pennsylvania and Colfax back in the 1960s. He’s been going there since he was 10 years old. “I’ve seen it change drastically, where we leave with tears in our eyes, because I remember what it was. … It’s depressing for someone born and raised in Denver. Here I am, going to that neighborhood since the ‘60s, and now my dad’s in heaven, crying,” he said.

Marty’s son, Chad Duman, said he’s had guns and knives pulled on him on the corner. “I’m afraid to park in my own parking lot,” he said. “Nobody wants to live in my building. I don’t blame them.”

“We lost our Natural Grocers in that neighborhood because of the crime that was taking place,” neighborhood resident Preston Enright said at the meeting.

[TakeFive]

Still one of my favorite buildings

Paradigm River North Adds 2 Tenants Totaling 17,300 SF
July 13, 2026 -- Mile High CRE

Paradigm River North, a 200,000-square-foot, sustainably focused office building that debuted in Denver’s vibrant RiNo Art District in 2024 and has since established itself as one of Denver’s most sought-after office addresses, has two new tenants. Candid Health has signed a lease for approximately 14,000 square feet at the property, while IA Interior Architects has secured an approximately 3,300 square-foot lease.

Candid Health is an interesting 'story'; it moved from So Colorado Blvd. Yesterday I could find their previous address but not today.

Paradigm River North


Courtesy Jordon Perlmutter & Co.

[COtoOC]

Originally Posted by TakeFive

The Peña Boulevard redesign may include a lane expansion, better transit options and more
Jul. 13, 2026 By Paolo Zialcita/Denverite

I had stated previously that adding Frontage Roads could separate local traffic from traffic headed to the airport. A “collector-distributor road” is a specific type of Frontage Road.

For me it seems like Common Sense to separate airport traffic from local traffic. Especially as DIA gets busier and busier clearly the best alternative should include the collector-distributor model.

A new toll lane is what I figured would happen, considering that's all that's being done anywhere along the Front Range now. The addition of frontage roads is interesting. Maybe similar to how Texas freeways have them?

One question I've always had is why it's called Pena "Boulevard". It' not a boulevard at all. Why not Pena Freeway?

[wong21fr]

Originally Posted by Fritzdude

Wait.. so this Luzzatto dude is going to convert the two building that make up the energy sector on Broadway while also in the process of converting the properties up the street at 1621 and 1633 California (which this article mistakenly identified as 621 and 633 California).. What’s his resume and finances look like that Denver trusts him with such massive properties? What kind of team is he leading to pull this off? Where might a grocer go? Inside one of these properties? Rather - how cool would it be to see one of the large parking lots off Lincoln transform into a multi-level mixed use grocery anchored development, similar to the Whole Foods in the Union Station neighborhood.

Sure it would be cool, but is anyone proposing such a massive new-build project? Only thing close is the Greyhound redevelopment and the DDDA rejected that application. Likely because they have a investment/unit threshold of up to ~$150K/unit of DDDA money. Luzzatto has consistently asked for public funding for about $75K-$90K/unit so I can see why the DDDA is bullish on his projects. The likely main reason he's been able to do this is because he secured the properties at far lower values than what Golub and Co., Brookfield, or Revesco are carrying on their books.

We need more of this valuation reset to continue to trickle through the CBD to make further conversions viable.

[TakeFive]

Exactly

Originally Posted by COtoOC

A new toll lane is what I figured would happen, considering that's all that's being done anywhere along the Front Range now. The addition of frontage roads is interesting. Maybe similar to how Texas freeways have them?

I wasn't familiar with "collector-distributor" and when I Googled it Texas was the reference.

-----------------------------------------

Agreed

Originally Posted by wong21fr

... Likely because they have a investment/unit threshold of up to ~$150K/unit of DDDA money. Luzzatto has consistently asked for public funding for about $75K-$90K/unit so I can see why the DDDA is bullish on his projects. The likely main reason he's been able to do this is because he secured the properties at far lower values than what Golub and Co., Brookfield, or Revesco are carrying on their books.

We need more of this valuation reset to continue to trickle through the CBD to make further conversions viable.

Nice background data. I just made a good guess that Luzzatto's low acquisition cost was a key component.

I'm still guessing that some buildings aren't realistically adaptable to apartments at any cost; we'll see over time I guess.

[TakeFive]

Compare and Contrast

AI Overview

Washington state has experienced notable economic challenges, recording consecutive months of job losses in the first half of 2026 and pushing the state's unemployment rate up to 5.2%.

The losses are concentrated in the tech and corporate sectors, with Seattle seeing the highest downtown office vacancy rate in the nation (36.5%) and shedding around 30,000 jobs since 2020

Seattle office vacancy crisis shifts tax burden onto homeowners
July 10, 2026 By Hana Kim -- FOX 13 Seattle

SEATTLE - A business and economic report released by the Downtown Seattle Association blamed Seattle’s payroll tax or "Jumpstart" tax for shedding 30,000 jobs in the last several years, in part causing the high office vacancy rate of 36.5% according to Cushman & Wakefield.

The backstory: The controversial payroll tax was approved in 2020 and went into effect in January 2021, taxing large employers on high earners.

In June, Mayor Katie Wilson said more taxes are on the table to plug what she calls a nearly half a billion-dollar budget shortfall over the next 3 years. Wilson said a local capital gains tax as well as the expansion of the payroll tax are all on the table.

What they're saying: "Well, I think it's the wrong move for Seattle and it would continue, I think, to push jobs outside of our city," said Jon Scholes, president of the Downtown Seattle Association... "We don't need more business taxes in Seattle. We need more businesses located here paying taxes."

NOTE: Previously, I had posted how Seattle was losing businesses that in many cases were simply moving over Bellevue, WA.

[TakeFive]

Denver has somewhat higher taxes but they're very different from Seattle's

In many cases voters have approved designated taxes for specific purposes.

For Example

Parks & Rec sees a new park in this vacant Golden Triangle credit union
July 10, 2026 By Sage Kelley -- Westword

From 2017 to 2024, the number of residents in the Golden Triangle more than doubled.

Denver Parks & Recreation wants to buy a vacant property in the Golden Triangle and turn it into a new public park. The department filed a proposed resolution to the Denver City Council’s Finance and Business Committee on June 26, seeking $3.2 million to purchase a 0.4-acre lot at 1028 N. Acoma St.

According to the proposal, Parks & Rec would like to appropriate $3,195,280 from the Parks Legacy and Special Revenue Fund — a voter-approved fund created in 2018 that uses a 0.25% sales tax to help the department acquire new land and create parks — to purchase the land, which is currently occupied by an empty credit union and attached parking lot.

1028 N. Acoma Street


Photo courtesy Thomas Mitchell -- Westword

If the conversion is successful, the location would appeal to two of Parks and Rec’s six acquisition focus areas: creating a park within a 10-minute walk of all residences, and placing a park directly in a high-density area.

[TakeFive]

Anybody beside me remember Roy Romer?

Overview

Roy Rudolf Romer is an American politician who served as the 39th governor of Colorado from 1987 to 1999... Romer was a member of the Democratic Party.

Reasonably Interesting Read

Cost of being a Coloradan is weighing on local businesses’ economic outlook
Jul. 14, 2026 By Sarah Mulholland -- CPR News

Colorado’s businesses are at risk of losing their competitive edge to companies in other states and it comes down to whether people can afford to live here, according to a report from the Romer Institute of Evidence-based Policy.

"What’s behind the business blues?"

Different constituencies point to different reasons for the pessimistic outlook. ... Business organizations are more likely to blame the state’s regulatory burdens.

But, according to the Romer Institute, affordability is the clearest weakness. The cost of living – and, more specifically, the cost of housing — has gotten measurably worse in recent years. Housing is now the most-cited barrier to attracting workers, the report found.

What many miss because it's hard to measure is that new regulations lead to higher embedded costs.

Many of the Bills coming out of the Legislature come with a subtitle that reads: "Jobs Act for Lawyers"



AI Overview

Yes, corporate leaders and site selectors analyze state liability and litigation climates when determining where to expand or relocate. High-risk states—often dubbed "judicial hellholes" by business advocacy groups... drive up compliance and insurance costs.

[TakeFive]

The Hattie McDaniel


• Video Link

Hattie McDaniel was a trailblazer whose legacy continues to inspire generations through courage, talent, and perseverance. Best known for becoming the first Black performer to win an Academy Award in 1940, Hattie’s achievement was not just a personal milestone, but a breakthrough moment in American history that challenged long-standing barriers in entertainment.

Long before Hollywood, Denver, Colorado played a formative role in her life. Hattie grew up in Denver’s historic Five Points neighborhood, a vibrant cultural center for Black artists, musicians, and entrepreneurs in the early 20th century. It was here that her love for music and performance took root. She attended Denver East High School and began performing publicly as a singer, honing the voice and presence that would later captivate audiences nationwide.

All-Electric, Affordable Housing Community in Five Points Now Complete
July 14, 2026 -- Mile High CRE

The Hattie McDaniel, a new six-story, permanently affordable homeownership community developed by Shanahan Development in partnership with the Elevation Community Land Trust (ECLT), is now complete. Designed by KTGY... The Hattie McDaniel ... expands access to homeownership for households earning up to 80% of the area median income

Located on a prominent corner where a former RTD parking lot once interrupted the neighborhood’s walkable rhythm, the project restores a continuous street edge along Welton Street. The building’s upper floors are stepped back along Welton and 29th streets to respect the neighborhood’s traditional scale.

The Hattie McDaniel -- 639 29th Street


Courtesy of Parrish Ruiz de Velasco

[RiNo Randy]

Marczyk’s Burger Night gets a permanent home in Northfield


I ate there today, not realizing it was their first official day open.

Let me just say this, give them some time to work out some "kinks" before going there.

I did speak with management about my burger. I described it to them as, "this is trash". It was overcooked, cold, dry and very small for the price paid. As I was about to leave the parking lot another customer approached me and told me that he heard what I said and agreed 100%.

I seriously hope this doesn't hurt the Marczyk Burger Night brand...

[RiNo Randy]

Originally Posted by TakeFive

The Hattie McDaniel


All-Electric, Affordable Housing Community in Five Points Now Complete
July 14, 2026 -- Mile High CRE


The Hattie McDaniel -- 639 29th Street


Courtesy of Parrish Ruiz de Velasco

I've walked by this several times during construction and after. It appears to be a well built structure. The masonry work is quite good (I was a mason tender in a former life).

[TakeFive]

Originally Posted by RiNo Randy

Marczyk’s Burger Night gets a permanent home in Northfield


I ate there today, not realizing it was their first official day open.

Let me just say this, give them some time to work out some "kinks" before going there.

I did speak with management about my burger. I described it to them as, "this is trash". It was overcooked, cold, dry and very small for the price paid. As I was about to leave the parking lot another customer approached me and told me that he heard what I said and agreed 100%.

I seriously hope this doesn't hurt the Marczyk Burger Night brand...

Doesn't sound like In N Out Burger needs to worry.