DENVER | Main Development Thread #6

[Cirrus]

Most of Denver's affordability problems also plague most other desirable American cities. Aside from the condo liability issue, they're not unique to Colorado. So it can absolutely be simultaneously true that Denver has a big affordability problem, and that there are several American cities where it's worse.

CityLab is right on cue, describing the nationwide trend:

Originally Posted by CityLab

Why Millennials Aren't Forming New Households

Recovery or no, the housing news is grim for Millennials. A new report from Goldman Sachs echoes the new findings from the Pew Research Center last month: The economic recovery has not shown any decline in the share of young adults who are living at home with their parents.

There are all sorts of reasons why Millennials aren’t forming new households. Rent-to-income ratios in productive labor markets are at historic highs. Student debt is soaring, and spotty credit ratings might lead to trouble for young adults hoping to strike out on their own, even as the employment situation improves.

Since the start of the recovery (in 2010), the share of 18–34 year-olds who are living at home has, in fact, increased.

[mhays]

A 5% decrease might be something like "average first year asking rent" adjusted for one-time concessions. If rents are a couple points higher but suddenly a lot more owners are offering a free month, that stat can decrease. I'm not looking into their methods, but it might be something like that. Or maybe they're using a different sample, or who knows. Many highly-publicized studies are horribly done, and/or unclear.

The details of Colorado's condo legislation are probably unique, but I'll continue to believe that if values rise enough, condos will get built. My state's laws have a similar (perhaps lesser) issue, and progress (not a lot so far) simply required $700/sf for new highrise units.

[TakeFive]

We had recently heard that there was an increasing use of incentives. Even if not at the rapid absorption rate of last year it's hardly a big deal so long as new units coming online are being absorbed.

From the Zumper web site:

The Zumper National Rent Report analyzes rental data from over 1 million active listings across the United States. Data is aggregated on a monthly basis to calculate median asking rents for the top 50 metro areas by population, providing a comprehensive view of the current state of the market. The report is based on all data available in the month prior to publication.

[TakeFive]

Affordable apartments? They do exist. How many recall this TOD?

Courtesy Parikh Stevens Architects

The apartments are one and two-bedroom units with rents of $380 to $850 per month. According to the apartment web site:

Evans Station Lofts boasts truly extraordinary features such as walk-in closets, washers & dryers inside every apartment, a roof-top deck with incredible views, a fitness center worth working out in, ten foot ceilings, and even FREE WiFi for your convenience!

[TakeFive]

Put a fork in it; Z Block is kaput.

Courtesy of Confluence Denver

According to Margaret Jackson Confluence Denver:

The developers of Z Block have changed the project's name to Dairy Block to better reflect the site's history as a former dairy.

"The rich history of the Windsor Dairy Block is remarkable," says Chad McWhinney, chief executive and co-founder of Loveland-based development firm McWhinney. "We felt it iwas important to have a name that pays homage to the significance of the block's history."

[seventwenty]

That's a rather misleading way to say the building is changing names.

[Scottk]

Originally Posted by Mulligan

1. There's only TWO single track segments - the I-70 bridge and from Pena Station north to the other side of the Pena Bridge. These were both done to save costs and have no impact operationally as RTD can still run 15-minute headways with no problems.

2. By the ever increasing number of stops, I'm assuming you're referring to the one station that was added...that still ensures a 37 minute ride to DIA from DUS.

3. The headway times? They haven't changed. They've always been planned to be 15 minutes in peak periods.

So we suck for not having a train to the airport...and we suck for building one because, heaven forbid, RTD is going to charge just as much to get there as they do right now on SkyRide. It's a $1 billion corridor - you thought it'd be free?

I will gladly pay my $20 roundtrip to ride it out the airport and back. Go ahead and drive your car out there and let me know how much cheaper that is.

1- Yes, I understand that there are only 2 segments that are single tracked, however I find it disappointing that we had to settle for single track segments on what is supposed to be RTD's "crown jewel" line, especially considering the single track segments on the west line, and the fact that the northwest line will never even get built. The single track segments on the A line might allow for 15 minute headways, but I would be willing to bet that they don't allow for much less than 15 minutes.

3- I am aware that the A line will be operating at 15 minute headways during peak times. This is ok with me, although truly world class systems operate with less than 15 minute headways. I suppose that the single track segments prevent the A line from operating at less than 15 minute headways, which is why I take issue with the single track segments.

The non peak headway times also concern me.

4- It is not that RTD sucks for building an airport line... It is just disappointing that the A line could be better. I suppose RTD's motto should be "At least we exist" Since that is what I gather from that statement.

20 bucks to ride to the airport and back??? I guess that is a good deal if I am traveling by myself. For a group of 4 headed to Las Vegas for the weekend? Not so much. 20 bucks to park at the airport for 2 days is a much better deal, even including gas. Nevermind the fact that the A line will be slower than driving.

[Scottk]

Originally Posted by TakeFive

Affordable apartments? They do exist. How many recall this TOD?

Courtesy Parikh Stevens Architects

The apartments are one and two-bedroom units with rents of $380 to $850 per month. According to the apartment web site:

Correct me if I am wrong, but don't those apartments require you to be below a certain income level to live there?

[bunt_q]

Originally Posted by Scottk

20 bucks to ride to the airport and back??? I guess that is a good deal if I am traveling by myself. For a group of 4 headed to Las Vegas for the weekend? Not so much. 20 bucks to park at the airport for 2 days is a much better deal, even including gas. Nevermind the fact that the A line will be slower than driving.

That's all correct. It's the same reason rail in the I-70 Mountain Corridor probably won't work. Average vehicle occupancy in that corridor is 3.2. Try making a fare structure that's competitive with that, on top of the inconvenience of park-n-ride and shuttle transfers on both ends of your trip.

[comoneymaker]

How is the Country Club Towers progressing ?

[RyanD]

Originally Posted by comoneymaker

How is the Country Club Towers progressing ?

I just took photos of it today for DI. It's a huge hole in the ground. No cranes or bases yet.

[bcp]

Originally Posted by bunt_q

That's all correct. It's the same reason rail in the I-70 Mountain Corridor probably won't work. Average vehicle occupancy in that corridor is 3.2. Try making a fare structure that's competitive with that, on top of the inconvenience of park-n-ride and shuttle transfers on both ends of your trip.

Regarding DIA ride...maybe I'm missing the context above, but what I saw was 7 or 8 bucks each way from DUS...while higher than other long rides on RTD, that's a pretty good price.

[pablosan]

Remember when:




was:

[DUPio]

Prep work has started at University and Harvard, and University and Illif parcels.

DUS development is fantastic, I hope they can have similar success filling in Arapahoe Square

[seventwenty]

Shit I almost wanna make those photos a before and after slider. In fact I think I will.

[seventwenty]

Damn it can't find a slider. Oh well.

[comoneymaker]

Originally Posted by RyanD

I just took photos of it today for DI. It's a huge hole in the ground. No cranes or bases yet.

How come you don't have anything for The Country Club Tower's on DI yet? Or am I blind?

[Scottk]

Did anyone else see that the judge sided with that asshole Jefferson park councilman?

[RyanD]

Originally Posted by comoneymaker

How come you don't have anything for The Country Club Tower's on DI yet? Or am I blind?

I did a big 'ol write up for the announcement of the project. I didn't cover any of the demo, which in hindsight was stupid and I should have.

Here's the write-up: http://denverinfill.com/blog/2015/06/new-speer-neighborhood-project-country-club-towers.html

[comoneymaker]

I guess I just couldn't find it on the interactive map.