DENVER | Main Development Thread #6

[COtoOC]

https://www.bloomberg.com/view/articles/...do-whether-infrastructure-spending-works

[CherryCreek]

Originally Posted by COtoOC

https://www.bloomberg.com/view/articles/...do-whether-infrastructure-spending-works

Cool article but of course all of us know that the Airport infrastructure investment is only part of the story.

Denver and the metro area has invested massively, and repeatedly in infrastructure since DIA was built including both T-Rex and FastTracks, Coors Field, Mile-High, and Pepsi Center, new viaducts, expanded convention center, convention center hotel, more for parks and roads, and an airport hotel. Billions and billions and billions and billions for infrastructure - much of it by direct approval of the voters and including the taxes to pay for it. (unlike the federal model where spending gets authorized without a clear path to paying for things).

[COtoOC]

Originally Posted by CherryCreek

Cool article but of course all of us know that the Airport infrastructure investment is only part of the story.

Denver and the metro area has invested massively, and repeatedly in infrastructure since DIA was built including both T-Rex and FastTracks, Coors Field, Mile-High, and Pepsi Center, new viaducts, expanded convention center, convention center hotel, more for parks and roads, and an airport hotel. Billions and billions and billions and billions for infrastructure - much of it by direct approval of the voters and including the taxes to pay for it. (unlike the federal model where spending gets authorized without a clear path to paying for things).

Yes, this is something I love about Denver. Always thinking ahead, and not afraid to be ahead of the pack. So many metro areas do very little, and reap very little.

[Denver Dweller]

http://www.denverpost.com/2016/09/06/mile-high-greyhound-park-redevelopment/

[cona]

Is this project real?

http://ozarch.com/2016/07/riverpoint-integrates-confluence-park-and-the-platte-river/

[TakeFive]

Originally Posted by cona

Is this project real?

I would say.... Not yet.

Speaking of OZ Architecture, they have this fun rendering of RiNo in 2020.


Rendering courtesy: OZ Architecture - h/t to Denverite

[CherryCreek]

Originally Posted by TakeFive

I would say.... Not yet.

Speaking of OZ Architecture, they have this fun rendering of RiNo in 2020.


Rendering courtesy: OZ Architecture - h/t to Denverite

I love it!! ... especially the stuff on the west side of the Platte too.

I see the Pepsi distribution center is still there. I doubt it! Land is too valuable to use to park trucks. That's a huge parcel for prime redevelopment.

[TakeFive]

"Construction worker shortage weighs on hot U.S. housing market"
Sep 6, 2016 By David Randall | DENVER - Reuters

The drumbeat of hammers echoes most mornings through suburban Denver, where Jay Small, the owner of company that frames houses, is building about 1,300 new homes this year.

That's more than triple what he built a few years ago, when “you couldn’t buy a job” in the residential construction industry, he said.

Now, builders can't buy enough workers to get the job done.

"Colorado employers finding it hard to fill some construction jobs"
Sep 8, 2016 by Ben Miller - Denver Business Journal

Colorado construction companies say they're having a hard time filling some construction jobs.

It's tough finding qualified carpenters, concrete workers and electricians, according to a new survey.

I can think of three negative impacts from current labor shortages. 1st, it slows down the timeline for delivery of projects; 2nd, it puts upward pressure on costs and 3rd is you have to wonder about the quality.

[TakeFive]

Image courtesy of goodreads

Maybe it's what I had for breakfast but it feels like the current building cycle has peaked or is peaking. There certainly is a ton of projects under construction including office space, hotel rooms and residential.

In Ken Schroeppel's mid-year residential report, the 1st six months shows less that 500 rental units were completed while about 5,500 units were under construction. Ken's area of focus is a 1.5 miles radius from the corner of 16th and Arapahoe St. There's likely as many or more apartments outside of this area in all of the city/county.

I also got a chance to review the 2nd quarter report by James Real Estate Services. They continue to put out red flag warnings about impending over-building. There's an old saying about market permabears that they'll be right.... some day. I suspect they're getting closer to being right but given how tricky it's become to estimate completions it's also hard to predict how readily all the product will be absorbed.

What I do enjoy about the JRES report is just going through the (very) long list of projects under construction, especially within Denver County. The list of specified pipeline projects appears to be just as long. It amazes.

[ejwill04]

The redevelopment of the Sakura Square block, bounded by Lawrence, 20th Larimer, and 19th could be an interesting project to follow. While it's not a horrible block compared to others in the vicinity, there definitely is room to improve the density and street presence. I'm also excited that some of the key tenants would possibly remain, including the Pacific Mercantile Company.

http://www.denverpost.com/2016/09/08/sakura-square-possible-redevelopment/
Denver Post
By EMILIE RUSCH
September 8, 2016 at 4:38 pm

[Denver Dweller]

http://www.bizjournals.com/denver/blog/r...OBYu5F%2FO7W7Amf&t=1473400127&j=75723532

[TakeFive]

Originally Posted by Denver Dweller

http://www.bizjournals.com/denver/blog/r...OBYu5F%2FO7W7Amf&t=1473400127&j=75723532

This one should be fun to follow.

"Letter to city claims Denver council member 'unlawfully' interfered in development project"
Sep 8, 2016 by Molly Armbrister - Denver Business Journal

Denver city council member Rafael Espinoza is the subject of a "notice of claim" filed with the Denver City Attorney's office on behalf of a developer, alleging that Espinoza "unlawfully" interfered with a 47-unit residential apartment project located at 4390 Tennyson St. in Denver.

HELP: from our legal friends.
As a city councilman does City of Denver have to defend Rafael Espinoza or is he on his own here? Does being a (paid) city councilman make him an "agent" of the city?

[TakeFive]

Continuing the rental theme.

"Denver renters overall are satisfied, but miffed at high rents: Study"
Sep 9, 2016 by Ben Miller - Denver Business Journal

That's according to a new study by Seattle-based Apartment List, which indicated that Denver renters gave an "overall satisfaction" grade of "A-" to their Denver rental situation,

But they weren't happy with the amount of rent they're paying. Renters gave the city a "D" in affordability.

[CherryCreek]

Originally Posted by TakeFive

This one should be fun to follow.

"Letter to city claims Denver council member 'unlawfully' interfered in development project"
Sep 8, 2016 by Molly Armbrister - Denver Business Journal

HELP: from our legal friends.
As a city councilman does City of Denver have to defend Rafael Espinoza or is he on his own here? Does being a (paid) city councilman make him an "agent" of the city?

Easy to sue city official for acts performed, hard to prevail. Like most states, public officials in Colorado have broad immunity from most claims that relate to their performance of duties, or their exercise of discretion in dealing with matters that clearly are in the public space (such as zoning decisions, land use, etc.).

See - http://www.coloradoccma.org/sites/default/files/preventing%20p%20o%20%20liability%20handbook.pdf


Hard to tell from reading the story what exactly Espinoza did that they claim violates their rights. But the recited facts don't strike me as particularly egregious, or at least egregious enough to avoid the immunity. Simply being wrong on the facts is not likely to be enough to nail him with any liability.

Don't know if the city will defend him - I would suspect yes, but perhaps someone else knows better.

[The Dirt]

Can this ass-hat be recalled?

[TakeFive]

Originally Posted by The Dirt

Can this ass-hat be recalled?

[Denver]

Originally Posted by ejwill04

The redevelopment of the Sakura Square block, bounded by Lawrence, 20th Larimer, and 19th could be an interesting project to follow. While it's not a horrible block compared to others in the vicinity, there definitely is room to improve the density and street presence. I'm also excited that some of the key tenants would possibly remain, including the Pacific Mercantile Company.

http://www.denverpost.com/2016/09/08/sakura-square-possible-redevelopment/
Denver Post
By EMILIE RUSCH
September 8, 2016 at 4:38 pm

I just saw the RFQ this week. The timeline on the project looks pretty slow. If it happens, I wouldn't expect any dirt to be moved for at least a couple of years.

[pablosan]

[ejwill04]

Pablosan, thanks for posting these photos; they look great!

I love the perspective from Prospect, or Union Station North as it is now known. That little neighborhood has such a strong urban feel thanks to its narrow streets, continuous street wall, and views of skyscrapers. As someone who briefly lived in Cincinnati, it's one of the only neighborhoods in Denver that has the same feel as Over-the-Rhine.

[QUOTE=pablosan;7557706]

[The Dirt]

Very nice photos. pablosan! I like the unique perspectives.