DENVER | Main Development Thread #6

[enjo13]

Originally Posted by RyanD

With my somewhat insider info swaying my answers I'm going to say:

2,4,5,8,9

Based on nothing but the veracity of sales pitches, 1401 Lawrence and Z block (#1 and #9) seem most likely to me. Those guys seem to be everywhere.

[bcp]

Tearing down the opera house sounds like something stupid we would.do in the 60s....lord I hope cooler heads prevail - plenty if places to build an.amphitheatre on unused land downtown..

[comoneymaker]

Aren't 3 and 4 the same thing? And I don't even know what 5,6 8 and 9 are honestly lol

[TakeFive]

Originally Posted by enjo13

Based on nothing but the veracity of sales pitches, 1401 Lawrence and Z block (#1 and #9) seem most likely to me. Those guys seem to be everywhere.

Interesting... Being a fan of 1401 Lawrence and we heard that it did go out for bid. Given that this and Z block are a singular focus of their owners I hope both go. Z Block maybe not ready yet but 1401 could be pretty close assuming bids come back that look good.

SkyHouse Denver may be the 1st on the list to break ground. Reportedly it also went out for bids and they are certainly well familiar with what they can expect, other than making adjustments for local factors.

Presumably Hines has the horses but they also have lots of stuff in different markets. Decision may not come until next year with this.

Alexan Uptown is a well branded name; not sure what tweaks they're doing but I think the Uptown location is a plus.

Not sure what to think about Aviva but if they've already secured financing... and the players now involved do have solid track records so maybe this will go.

[BG918]

Originally Posted by comoneymaker

Aren't 3 and 4 the same thing? And I don't even know what 5,6 8 and 9 are honestly lol

For those that don't know what these are:
1. 1401 Lawrence Office Building - 22 story office tower at 14th & Lawrence on the parking lot behind Larimer Square and next to CU-Denver Business School
2. 1144 15th Street Office Building - 42 story office tower at 15th & Lawrence/Arapahoe next to the Four Seasons, designed by Pickard Chilton
3. Eviva Apartment Building - 17 story apartment tower on the parking lots at 13th & Cherokee in the Golden Triangle
4. The Confluence Apartment Building - 32 story apartment tower at 15th & Little Raven next to Confluence Park
5. Skyhouse Apartment Building - 25 story apartment tower and adjacent parking garage at 18th & Broadway/Lincoln
6. 1801 Wewatta Hotel/Office Building - proposal for 200,000 SF of office and 185 room hotel at 18th & Wewatta near Union Station
7. Tabor 2 Office Building - 31 story office tower at 17th & Larimer connected to Tabor Center
8. Alexan Uptown Apartment Building - 12 story apartment tower at 19th/20th & Logan in Uptown
9. Z Block Office Building - 6 story office building at 18th & Wazee, apartments along Blake and hotel at 19th & Wazee
10. 999 17th Street Residential/Office Building - 28 story apartment tower at 18th & Curtis and 9 story office tower at 17th & Curtis

You could put Block 162 on the list but it would probably be the least likely to happen before these others. In its most recent form a 32 story office tower and 31 story Hilton hotel with major retail along 16th and 15th between California and Welton.

I know for a fact that Hines has already submitted for a shoring permit for the 2 level underground garage for 1144 15th. Actual construction won't start until May 2015. And from what I've heard about 1401 Lawrence they want to start construction this September.

Just imagine if even half of these projects above are under construction with tower cranes by this time next year... This doesn't even include the other Union Station projects that haven't started yet including the 12 story Kimpton hotel and adjacent 5 story office building at 16th & Wewatta and the 640 unit apartment tower with a rumored Whole Foods on the block between 17th and 18th, Wewatta and Chestnut, as well as the 18 story office tower proposal for 18th & Chestnut next to the Millennium Bridge, and what will be announced for B Block next to Union Station which will likely be residential and in the 20 story range.

[DenverPoke]

Ken mentioned on DI the other day that he was under the impression that The Confluence would break ground this fall, so outside of T2 and 999 17th all of these may happen within the next year or so.

[TakeFive]

Originally Posted by comoneymaker

Aren't 3 and 4 the same thing? And I don't even know what 5,6 8 and 9 are honestly lol

5, 6, 8, & 9.

[mhays]

When you say "bid," do you mean for general contractors or for subs?

In my region, major private sector developments generally hire GCs on a negotiated basis, usually 6-18 months before construction. Selection is based on capabilities, resumes, fees, personality, and so on. But you can also go on price-only when the design is at a construction-document level, the second from last design stage.

Subcontractor hiring has been happening earlier lately, to integrate their expertise in the design process and as a hedge against rising prices, for key trades. But either way it's much closer to the actual construction start date, with firm pricing playing a larger role.

Selecting a GC can mean it's likely to start, or only that the GC's expertise is useful to help determine the project's viability. Selecting subs is more serious, because it's later in the process. Also, while GCs join teams knowing the odds of moving forward, when a sub joins the team they assume you're serious at least. A good GC or developer doesn't "exercise" subs too much on speculative work.

[TakeFive]

Originally Posted by BG918

Just imagine if even half of these projects above are under construction with tower cranes by this time next year...

That would be sweet and not unreasonable.
But I only slobber and drool when they come out of the ground.

[DenverPoke]

Anybody check out US this weekend? I went to Snooze this morning, had about a half hour wait at 8:15 so not bad. Overall I was pretty impressed, that furniture is going to get destroyed very quickly though and the floors seemed pretty dirty already too.

[Denver]

Any one know if this project is still on/has broken ground? 1373 Central St. There are units that are being marketed by Sotheby's and according to the website, construction is supposed to be complete by Feb 2015.





http://www.fullersothebysrealty.com/eng/...7848/1737-central-street-denver-co-80211

[TakeFive]

Originally Posted by mhays

When you say "bid," do you mean for general contractors or for subs?

In my region, major private sector developments generally hire GCs on a negotiated basis, usually 6-18 months before construction. Selection is based on capabilities, resumes, fees, personality, and so on. But you can also go on price-only when the design is at a construction-document level, the second from last design stage.

Subcontractor hiring has been happening earlier lately, to integrate their expertise in the design process and as a hedge against rising prices, for key trades. But either way it's much closer to the actual construction start date, with firm pricing playing a larger role.

Selecting a GC can mean it's likely to start, or only that the GC's expertise is useful to help determine the project's viability. Selecting subs is more serious, because it's later in the process. Also, while GCs join teams knowing the odds of moving forward, when a sub joins the team they assume you're serious at least. A good GC or developer doesn't "exercise" subs too much on speculative work.

Uhh, good question. Thanks for the great clarification on the process.

The announcement for SkyHouse Denver stated both Novare Group and Batson-Cook Development Co. which would seem to indicate that they'll be their own GC. Given that they've built ten and counting in different cities this would make sense. That's the reason for my optimistic view for this project.

Thinking of enjo13's comment about 1401 Lawrence they could be getting close... OR it might mean they are unable to break ground w/o some pre-leasing presumably in the form of a "letter of Intent."

With respect to Alexan Uptown, Trammell Crow has tons of experience in Denver and with this product so they can presumably move pretty quickly.

[TakeFive]

Originally Posted by DenverPoke

Anybody check out US this weekend? I went to Snooze this morning, had about a half hour wait at 8:15 so not bad. Overall I was pretty impressed, that furniture is going to get destroyed very quickly though and the floors seemed pretty dirty already too.

I want to play in the fountains. Did you play in the fountains?

[LAM]

Originally Posted by bcp

Tearing down the opera house sounds like something stupid we would.do in the 60s....lord I hope cooler heads prevail - plenty if places to build an.amphitheatre on unused land downtown..

I think it was the Symphony Hall that was under discussion and not the Opera House. Either way, I agree - pure stupidity!

[BG918]

If we're talking proposals you can't leave out Country Club Gardens. From this month's Washington Park Profile:
The northern reaches of West Wash Park will soon be home to two of Denver's tallest buildings outside of downtown. Broe Group...will begin work this fall to raze the parking garages and portions of two of the five main buildings on the CCG site, replacing them with two 250 unit, 30 story towers, which will include six floors of parking (three underground, three above) accommodating some 1,000 vehicles. ... Preliminary work is expected to begin this fall to upgrade water lines in the area, and some limited demolition is a possibility. Excavation should begin in earnest around the first of the year, with build-out expected to take about two years.

[RyanD]

Originally Posted by DenverPoke

Anybody check out US this weekend?

Of course I did!

Denver Union Station: Final Update – Grand Opening
via DenverInfill

[enjo13]

Originally Posted by TakeFive

]Thinking of enjo13's comment about 1401 Lawrence they could be getting close... OR it might mean they are unable to break ground w/o some pre-leasing presumably in the form of a "letter of Intent."

I believe the latter is the case. They're shopping for bigger tenants right now.

[DenverPoke]

Nice pictures Ryan. Funny how 2 & 3 paint a very different picture. Maybe it's just me but it seems like the city doesn't do enough to promote these events, hell I barely would have
really even known the opening was taking place if I didn't follow this page and DI. Denver Post mentioned it but I had to seek it out. Sad.

[TakeFive]

Originally Posted by RyanD

Of course I did!

I had checked for these a few times. Terrific photos. Look really awesome on my 24" monitor.

[BG918]

That view in Pic #3 will be full of cranes over the next 2-3 years as the northern end behind Union Station gets built out.

Is the bridge over the tracks open yet? I was down there Friday and it was still closed