DENVER | Main Development Thread #6

[DenverPoke]

Originally Posted by Stonemans_rowJ

What makes you think that?

Does anyone honestly think the (qualified) buyer pool for condos is deep enough? Just don't see it

Well it is already starting to happen with projects like The Coloradan, the Hines projects in Sloans Lake and Uptown, plus a few others around town. I don't think the issue has ever been about enough qualified buyers.

[TakeFive]

Come on over, we're celebrating a Grand Opening
Does that mean the Honorable Mayor Hancock showed up?



Photo by Kevin J. Beaty via Denverite

Hotel Indigo marks launch in Denver with grand opening near Union Station
February 24, 2017 by Adrian D. Garcia - Denverite

The Hotel Indigo held its grand opening Thursday, making the 180-room spot the new inn place to stay in Denver.

[Octavian]

Originally Posted by J21bird

Posted some Downtown Denver construction photos:

http://denverurbanreview.com

Link appears to be down.

[TakeFive]

Call me crazy.... maybe
but it's all about those Animal Spirits (or maybe it's in the water)

America’s Business Leaders Are Brimming With Post-Election Optimism
February 21, 2017 by Vince Golle - Bloomberg Business

It’s been at least seven years since America’s mid-sized companies have been this ecstatic about the economy’s prospects.

A whopping 80 percent of middle-market businesses said they were optimistic, the most since JPMorgan Chase & Co. began its Business Leaders Outlook survey. That’s up from 39 percent last year and reflects a sea change in sentiment that’s swept through the ranks of corporate America since the November election.

What about small businesses?

A separate survey of small businesses also showed increased optimism, though the gains weren’t as dramatic: 62 percent were bullish on the economy, up from 43 percent last year.

What does this mean for Denver?

• It means the rumor of lender tightening that popped up last year seems to have been greatly exaggerated. Or maybe it's just a U-Turn from all those Animal Spirits.
• Interest rates: The 10-year T-Bill (and other durations) have been more volatile of late; interestingly, while mortgage rates have drifted higher they've remained attractive and generally stable.
• Developers: An economy driven by all those Animal Spirits likely means ultimately higher rates. No reason for developers to wait and since capital still seems readily available (afaik) it's Full Speed Ahead cuz Animal Spirits.
• Presumably all those Animal Spirits will continue to drive growth in Denver and typical of Denver's great diversity I continue to read about new business activity even if it's in dribs and drabs.
• Any oversupply? Consider that the several larger apartment projects that have broken ground or appear soon will won't be delivered until 2019. Who knows the state of things that far ahead... so back up the truck and build em; it's the only right Animal Spirits thing to do.

Comment: Personally, I think the notion of Animal Spirits a bit hokey. It would seem to show the outsized influence of political (propaganda) discourse however. After spending years bashing President Obama's economy the "machine" did a 180 and the reality is a change in attitudes. It is what is is. Just my opinion.

Originally Posted by Octavian

Link appears to be down.

Working now.

[mhays]

I attended a commercial real estate forecast breakfast in Seattle yesterday. The mood among panelists (mostly developers, and/or regarding finance and offshore capital) was one of fear of this administration. Our economy depends on capital flow (financing development), free trade, and immigration (especially for the best tech talent). These apply to Denver as well.

On the flip side, the economy has been improving for eight years.

[seventwenty]

Originally Posted by Octavian

Link appears to be down.

Back up now.

[TakeFive]

Originally Posted by mhays

I attended a commercial real estate forecast breakfast in Seattle yesterday. The mood among panelists (mostly developers, and/or regarding finance and offshore capital) was one of fear of this administration. Our economy depends on capital flow (financing development), free trade, and immigration (especially for the best tech talent). These apply to Denver as well.

On the flip side, the economy has been improving for eight years.

Wait... are you telling me that Seattle isn't just crawling with twitter tweet fans?

Crazy and unconventional as things may appear it's critical to remember that Congress writes ALL legislation. Another wild ride where the stock market is down all day but sees a yuge rally into the closing bell for more record gains. That's more specific to the "current" business vibe than to development but they're not uncorrelated typically.

Marketwatch also carried this story late in the day:
Stocks and bonds tell investors two different stories
Feb 24, 2017 By Joseph Adinolfi

Bonds and stock markets are sending conflicting signals about the outlook for the U.S. economy.

Treasury yields, which move inversely to prices, declined to their lowest levels in more than five weeks on Friday.

The stock market may be Big but the Bond Market is Yuge. For now, money continues to be plentiful and reasonably priced. It's crazy times though, that's for sure.

Note: I haven't dropped my prediction for a 2017 2nd half Trump Recession but so far the data is running against me, well at least on the stock market side.

[Fritzdude]

Thanks to Ken for posting the new Bell Park drawings over on DenverInfill.

[seventwenty]

Is that supposed to be a waterfall?

[Robert.hampton]

Originally Posted by Fritzdude

Thanks to Ken for posting the new Bell Park drawings over on DenverInfill.

They forgot to include the sharps bins and tents on the terraces in the rendering

[bunt_q]

Originally Posted by seventwenty

Is that supposed to be a waterfall?

More importantly, what did I miss? When did Cirrus become meaner than bunt? I mean, that's always been true. But it's never been public until now!

[TakeFive]

Don't forget this one

\

Renderings courtesy of Shorenstein

Watch me grow

[Alchemist]

Originally Posted by Robert.hampton

Pretty sure it is this lot:
http://x.lnimg.com/attachments/586B3DF7-A962-4137-B16B-706470F1AD4F.pdf

But also pretty sure that massing isnt really relevant.

Davis Partnership Architects has a rendering of a residential building at 575 East 20th Avenue. There is no listing in their portfolio, but the image shows up on a page describing their 50 year history. Image #55.

http://davispartnership.com/studio/50-years/

Maybe that's it?

[The Dirt]

http://davispartnership.com/studio/50-years/

I don't think I've seen that Tabor 2 rendering before, either.

[twister244]

Originally Posted by The Dirt

http://davispartnership.com/studio/50-years/

I don't think I've seen that Tabor 2 rendering before, either.

Welp, time to pull my stocks. You know what happens when a Tabor 2 proposal comes out....

[pablosan]

Originally Posted by twister244

Welp, time to pull my stocks. You know what happens when a Tabor 2 proposal comes out....

I don't know why, I find this statement so funny.

[semiurban]

This Confluence rendering shows vertical lighting among the panels. Anyone know if this will actually happen?



http://denverurbanreview.com/2016/12/confluence-tops-off/

[comoneymaker]

http://www.9news.com/news/local/next/apa...uction-defect-debate-explained/415737482

Piece on the construction defect dabate.

[TakeFive]

Originally Posted by comoneymaker

http://www.9news.com/news/local/next/apa...uction-defect-debate-explained/415737482

Piece on the construction defect dabate.

On the whole, well done for tee vee news - although not enlightening for this crowd.

[CharlesCO]

Looks like the downtown Target is getting closer to being a reality:

http://www.denverpost.com/2017/02/27/city-approves-incentives-for-target-on-16th-street-mall/