DENVER | Main Development Thread #6

[Sam Hill]

Originally Posted by twister244

Pretty good article from Denverite on the proposed Hurley project in RiNo.....

https://www.denverite.com/250-million-plan-finally-make-rino-riverfront-29537/

Wow, that's exciting. It's nice to see a developer attempt to build something truly special and, in his words, "leave a legacy for the city," rather than try to make a quick buck.

[RyanD]

1144's crane got jumped today. She's up there! Not quite as high as RP but close!

[Matt]

Originally Posted by RyanD

1144's crane got jumped today. She's up there! Not quite as high as RP but close!

Very nice!!! The only time I believe RP was "eclipsed" in the Denver skyline, was after the final crane jump for 4 Seasons. It was such a great feeling looking at that crane, and knowing Denver had finally pushed beyond 714' - even just for a while. Technically, 1801 California has an antenna that is the highest point in the Denver skyline, but it's not even noticeable.

[ejwill04]

I went by the 17th and Pearl site in Uptown today and noticed people working on the site. Hopefully, that means it's about to break ground.

Here's a link for a refresher:
http://southernland.com/portfolio/17th-and-pearl/

[COS]

^The "map it" link on the site goes to 17th & Pearl in Boulder. I wonder if folks in Boulder would want a building like that...

[CastleScott]

^The "map it" link on the site goes to 17th & Pearl in Boulder. I wonder if folks in Boulder would want a building like that...
Reply With Quote Multi-Quote This Message Quick reply to this message

lol!!! Nope! Heck hell would frezee over and then we would see God come to save us..

Oh btw nice pic Ryan and it looks like that crane is up around 670 or so.

[Orlando]

Lots of good stuff going on in Denver. I was just there in June an it didn't seem like much was going on, but that area next to Union Station reminds me of all the new cool condos in Portland's Pearl District.

[Sam Hill]

I just found this video about the new performing arts complex vision. Sorry if it's already been posted.

https://vimeo.com/158533501

If I remember correctly, by the end of 2016 we were supposed to hear more about a plan for funding this project. I haven't seen anything yet. Hopefully we get some news soon.

[comoneymaker]

I have not seen that video but have posted the plans several times. Funding is basically approved (for the city portion side). That was on the the ballot in November and people voted yes for it along with the convention center renovations. From what I saw last is we may see construction start early 2018, possibly even the end of this year. But still has more hurdles to clear. This project along with the new Spire, 4 seasons and 1114 will make for a nice little area of new architecture for the city. A lot there just might bring out our first 1000+ footer if it keeps up.

[wong21fr]

Originally Posted by comoneymaker

I have not seen that video but have posted the plans several times. Funding is basically approved (for the city portion side). That was on the the ballot in November and people voted yes for it along with the convention center renovations. From what I saw last is we may see construction start early 2018, possibly even the end of this year. But still has more hurdles to clear. This project along with the new Spire, 4 seasons and 1114 will make for a nice little area of new architecture for the city. A lot there just might bring out our first 1000+ footer if it keeps up.

Huh? Nothing was on the ballot regarding the performing arts center. The video is a vision at the moment with no concrete plans in place, nor any funding.

[comoneymaker]

4b was a extension of the current tax that was set to expire in 2018. This extension funds will be used for the convention center and performing arts complex. "Ear marked" so to speak.

As for the concrete plan in place...they have narrowed it from the 8 original plans down to that one plan you just saw. This year they will be asking for Request for Proposals for Development. Once that is done it is only a matter of time before construction starts.

Also 2018 is more like the earliest it can start. You know how the government works though. Will prob be more like 2019.

[wong21fr]

^You're mixing up ballot measures. 4B was the 2016 measure that renewed the SCFD tax metro-wide. There was nothing specific for the Performing Arts Center. 2C was the 2015 measure that redirected the lodging tax to the Stock Show and the Convention Center to fund those respective expansions. There's been no ballot language out there regarding the DCPA, though maybe something will be included in the upcoming bond measure this fall.

[Sam Hill]

Yeah, we don’t even know what the cost will be yet but it will be huge and it will have to be financed through a public-private partnership, of which none of the details have been worked out yet – at least not as far as the public knows. This will require a separate bond issue to be put before the voters – probably in the next year or two. Hopefully the price tag won’t be too outrageous, and hopefully the local economy will still be booming once it comes time for a vote - otherwise it will be a tough sell.

[mhays]

The winning proposer will still have a lot of hurdles.

Here's one reason: These things are generally won by teams that appear capable and offer the most aggressive deal to the public client. That means they're optimistic, about construction costs, where demand is going, interest rates, finance availability, and so on. Reality often pushes back. At the proposal stage, they have only a vague idea about these things.

Meanwhile it's generally harder to adapt the concept if the market changes. Let's say they want to switch to a larger hotel, less housing, and less parking so the project can pencil. But it's all in the agreement that got them selected. Maybe that's just another step to get it changed, or maybe it's not allowed.

[RyanD]

Scroll --------------->

[wong21fr]

Oh yeah..........

[EngiNerd]

Holy cow that's awesome!

I count 17 cranes?

[comoneymaker]

No funds for that also included the Performing arts complex. It is $150 million public $600 mill private over 10 years.

http://www.h3hc.com/dpac/266ynjtshxj4b9az6s4xuuk868obcq

[wong21fr]

Originally Posted by comoneymaker

No funds for that also included the Performing arts complex. It is $150 million public $600 mill private over 10 years.

http://www.h3hc.com/dpac/266ynjtshxj4b9az6s4xuuk868obcq

No, it didn't. Here's the press release from the City of Denver from March of last year announcing the launch of an effort to develop a funding plan (LINK):

Following a display of The Next Stage vision renderings, Hancock announced a year-long funding and
governance study to develop the next steps to build a plan to deliver on the vision. The funding and
governance group will aim to provide its recommended plan by the end of 2016.

Now, if the governance group was supposed to provide a funding plan by the end of 2016, then how did 2C provide $150M in funding the DPAC in 2015? It didn't. It does turn out that the city has set aside ~$17M in seed money for the project, but nothing is being done further until a funding plan is actually delivered that allows the DPAC redevelopment to move forward. Then said additional public funding has to be secured, private partners secured, design work done, and permitting completed before the project can break ground.

Don't expect this project, if it does happen, to occur before 2020 at the earliest.

[Denver Dweller]

http://www.denverpost.com/2017/02/21/smileys-laundromat-building-will-be-demolished/