DENVER | Main Development Thread #6

[bcp]

in town briefly and drove past DUS...gangbusters as expected. And I gotta say, the Trinagle building...holy cow - really nicely done and love love love the color of the glass...it was evening, but it appeared like a greenish black to me - very cool looking and high quality as expected.

[CharlesCO]

(deleted as I realized it was a better question for the transportation thread)

[TakeFive]

In my best Wong voice:
"Put the bums on a bus and buy them a ticket back to wherever they came from"

In a DBJ article HERE, some believe there is a connection between "Homeless immigration" and legalization of marijuana.

Denver's Salvation Army Crossroads Shelter conducted an informal survey of 500 of the out-of-towners.

The survey found that 30 percent cite pot as the reason for moving to Denver.

Denver has done a stellar job in dealing with the homeless population. The idea of "importing" homeless is not cool for whatever reason. Policies should be designed to decrease the homeless population, not increase it and if new policies need be enacted then do it.

[TakeFive]

Eco-Devo to Die for:

"What the Frack are you talking about?"
This is a matter of State Security; not unlike National Security, except, you know, at the State level.

Be it resolved (and all that good stuff) that the State of Colorado shall rally around and incentivize a brand spanking new whiz bang Oil Refinery in Weld County. New oil refineries are a bear to get permitted and to build so it should be backed by the State.

Such an investment could be a boost to the economy of Weld County and for the whole Denver-Julesburg Basin in NE Colorado. By extension, it should also boost the downtown Denver office market.

A refinery in Weld County could utilize the oil in Colorado (of course) but also oil from Wyoming, Montana and North Dakota. The existence of an oil refinery can stimulate other chemical plants including for fertilizer to take advantage of the various byproducts from refining. It would render the existing Commerce City Suncor oil refinery obsolete so the area could be cleaned up and reclaimed. What a deal.

Essentially Colorado could have most of its gasoline needs supplied by in-state sources. It's not a stretch that Colorado could export refined products. Still, in the big scheme of things the capacity would be no more than a blip on the radar screen. But when the day comes for gas rationing it would be comforting to know that Colorado has its own home-grown supply.

It would be like going natural or organic for Colorado.

[denconyny]

Originally Posted by TakeFive

In my best Wong voice:
"Put the bums on a bus and buy them a ticket back to wherever they came from"

In a DBJ article HERE, some believe there is a connection between "Homeless immigration" and legalization of marijuana.


Denver has done a stellar job in dealing with the homeless population. The idea of "importing" homeless is not cool for whatever reason. Policies should be designed to decrease the homeless population, not increase it and if new policies need be enacted then do it.

eeeeeehhhhhh.... this one appears a sticky wicket, and an awful lot of research has to be done before any conclusions can be reached about this.

Were these homeless souls homeless at the place they arrived here from? If so, then it's just a matter of homeless being such no matter where they are. Is crime or such rising because of this?

Are high home prices causing some of this? Denver is experiencing a housing shortage, and high rents/mortgages also could play a role in this.

And if the issue is really medical, then it's altogether a different ballgame.

At any rate, at least Colorado is now a popular place to be with all income levels. But as earlier, much more research has to be done into this, and my concern would be that the research be objective for information in an effort to best address concerns, rather than some shill study that has judgment written in every part of it.

Of course, if other states, or even the feds, were just to legalize cannabis in every state, then this wouldn't even be an issue to be addressed.

[urbanAcheiver]

Originally Posted by denconyny

eeeeeehhhhhh.... this one appears a sticky wicket, and an awful lot of research has to be done before any conclusions can be reached about this.

Nobody says this unless they naturally disagree with the information. I'm sure there is plenty of data.

Originally Posted by denconyny

Are high home prices causing some of this? Denver is experiencing a housing shortage, and high rents/mortgages also could play a role in this.

People who find a place unaffordable don't stand in the streets panhandling. They find a more affordable place to live. Also, we don't want to attract people of all income types, especially those who don't have any income.

finally

Originally Posted by denconyny

Of course, if other states, or even the feds, were just to legalize cannabis in every state, then this wouldn't even be an issue to be addressed.

Yeah lets just wait for that to happen.

Sorry, but DBJ isn't the only source to associate the rise of homelessness with the increasing interest in cultivating and selling marijuana. Every stoner in his mom's basement thinks they're going to strike gold on this and ironically find themselves in the same position as the gold miners of 1800's.

Hey, put them on a new Amtrak train! At least they'll get to enjoy US before they go.

[bobg]

Originally Posted by urbanAcheiver

Nobody says this unless they naturally disagree with the information. I'm sure there is plenty of data.

..and nobody makes that statement unless they already agree with the premise of the article. So could you please provide links to that plentiful data for the rest of us who need facts before jumping to conclusions?

[TakeFive]

Originally Posted by bobg

..and nobody makes that statement unless they already agree with the premise of the article. So could you please provide links to that plentiful data for the rest of us who need facts before jumping to conclusions?

And depending on where you "sit" any analysis can be debated and deemed "flawed."

Originally Posted by urbanAcheiver

Every stoner in his mom's basement thinks they're going to strike gold on this and ironically find themselves in the same position as the gold miners of 1800's. .

I don't doubt there was an initial wave of Gold Miner syndrome but I suspect that has largely passed. Regardless of whether pot is legal that's not my issue.

Few years ago Denver was recognized and honored as a model city in dealing with the Homeless. I think that's cool; it's a good thing. Perhaps what I'm suggesting is that those programs should provide first for native or longer term Denver residents, not the newly arrived. Lots of things, like Broncos tickets, have a waiting list.

I understand that some organizations are set up to offer their services to all comers relative to their capacity. That's between them and their Board and supporters.

From the POV of the city I would favor more of a "tough love" approach. I don't want Denver's downtown being overrun, or taken over by the homeless; not looking for Denver to promote itself as a mecca for transients.

[Scottk]

Originally Posted by urbanAcheiver

Sorry, but DBJ isn't the only source to associate the rise of homelessness with the increasing interest in cultivating and selling marijuana. Every stoner in his mom's basement thinks they're going to strike gold on this and ironically find themselves in the same position as the gold miners of 1800's.

Hey, put them on a new Amtrak train! At least they'll get to enjoy US before they go.

every stoner in his mom's basement??

Yeah, let's just make broad, sweeping generalizations....

[PLANSIT]

Finally, some news regarding B Block at DUS.

The Coloradan
200 FT
19 Floors

From GE Johnson website:

Note the bold...

Redevelopment of the Union Station Neighborhood has quickly become the national model for transit oriented development encompassing live, work, stay, connect and play destinations using the latest in sustainable community development. GE Johnson has been on the forefront of transforming the vacant rail yards into the multi-billion dollar multi-use development including the Cadence Union Station apartments, the Fresh Exchange restaurant in Union Station and the upcoming Borne Hotel and Office tower known as “Block A”. We are thrilled to announce that we will add for-sale residences to this portfolio with The Coloradan project. The $115 million development is led by BuildMark, East West Partners, and Starwood Capital Management to create THE BEST residential property in Denver.

Located directly adjacent to the Union Station Transit Hub, this luxury for-sale residential project will soar nineteen stories above the bustling neighborhood and feature retail space at ground level, two levels of below-grade resident parking, a rooftop swimming pool, and multiple living roof landscape decks. Residents of the building will enjoy stunning views of the Colorado Front Range, Coors Field and Downtown Denver. The building design incorporates distinct amenities centered on community and sustainable living. The project is pursuing LEED Gold certification and will be one of the largest for-sale residential projects planned for the Colorado Front Range in several years.

Once again, our established relationships with the client team coupled with our early preconstruction and planning efforts secured this priority project for GE Johnson. Congratulations to everyone involved, including Justin Cooper, Dan Seib, Ryan Wilson, Scott Miller, Justin Horsch, Matt Melssen, Renee Clark, Pete Kautza, Steve Eikanger, Stella Hodgkins, Taneisha Gordon and Andrew Pires.

[bunt_q]

Originally Posted by Scottk

every stoner in his mom's basement??

Yeah, let's just make broad, sweeping generalizations....

Well some moms are smart enough to kick those stoner kids out. Those are the homeless people we're talking about.

Oh wait, did you mean to imply there are potheads who hold down regular jobs? I'd like to see data supporting that wild contention.

[RyanD]

Originally Posted by PLANSIT

Finally, some news regarding B Block at DUS.Note the bold...

Pretty neato burrito! I wonder what the affordability will be on this one... Pushing $400 / sq ft?


http://gejohnson.com/news/2014/12/19/coloradan-win

[Stonemans_rowJ]

Originally Posted by RyanD

Pretty neato burrito! I wonder what the affordability will be on this one... Pushing $400 / sq ft?


http://gejohnson.com/news/2014/12/19/coloradan-win

This is amazing news. I love the rendering too although that should be commuter rail cars right?

The "average" PSF in this area is already well over $400/sq ft so I would imagine this would be significantly higher.

My wife and I will definitely explore moving "down the hill."

[bunt_q]

I'm more interested in seeing what the association fees will be. That's the killer is the extra $750/month for that.

[bcp]

nice...love that it's a dark building, hope it remains that way.

will this include 10% for IHO? Or, were all of those satisfied with Monarch Mills?

BCP

[BG918]

I'm surprised they're planning one building there and not two. Not a fan of the dark colors but I'll withhold judgement until I see better/final renderings.

How many sites are left in US that don't have any kind of current proposal?

[Stonemans_rowJ]

How many units do you guys think this will be if GlassHouse is just under 400 and the Spire is just under 500?

I caught this story on colorado public radio the other day:


http://www.cpr.org/news/story/could-limiting-defect-lawsuits-bring-more-condos-denver

According to the author, new condo construction is at some of the lowest historic levels nationally (not just our state) and one person quoted in the article says it has less to do with defect lawsuits than it does with financing, market factors, etc.

[Riverfrontbrewer]

I would guess close to 200 units plus 8-10 PH size units.....pp sq ft, easily high 4's - 650 depending on floor, size, etc

[mr1138]

Originally Posted by Stonemans_rowJ

How many units do you guys think this will be if GlassHouse is just under 400 and the Spire is just under 500?

I caught this story on colorado public radio the other day:


http://www.cpr.org/news/story/could-limiting-defect-lawsuits-bring-more-condos-denver

According to the author, new condo construction is at some of the lowest historic levels nationally (not just our state) and one person quoted in the article says it has less to do with defect lawsuits than it does with financing, market factors, etc.

My buddy who is a home mortgage lender has been telling me this for several years now. I never knew whether he just had an ideological bend or if this was really the case though. There has been so much talk of the construction-defects issue that I have not been sure which argument has more merit. My gut feeling is that the problem has never been caused by only one factor.

He says that the lending industry is still majorly freaked out about giving construction loans for for-sale product. If a project isn't more than 50% pre-sold (he might have even said 75%), it hasn't been getting financing. There is still seen to be enormous risk in speculative condo projects like Glass House and Spire because of the cost overruns that result when a building has a ton of vacant units sitting there for several years (as was the case with many of the condo projects built across America before the recession).

It makes me wonder if the ice is finally thawing on the lending market, or if Union Station is simply seen to be such a hot market right now that the risk of units not selling is considered low.

[wong21fr]

Originally Posted by BG918

I'm surprised they're planning one building there and not two. Not a fan of the dark colors but I'll withhold judgement until I see better/final renderings.

How many sites are left in US that don't have any kind of current proposal?

I think there's only one block left; bounded by the CML, 17th, 18th, and Chestnut; that doesn't have an announced proposal.

Wasn't this parcel originally envisioned as having a large retail presence with a couple floors of retail? It's disappointing that this apparently won't be the case and we'll end up with a mirror image of the retail in The Platform.