DENVER | Main Development Thread #7

[CharlesCO]

Originally Posted by Robert.hampton

Looks like a classic Buzz Geller development partner, not sure if no track record makes it better than Renzo Renzi's failing track record?

As far as I can tell Greenwich Realty Capitol has so far completed zero projects. Their directors mostly have other full time jobs, primarily working for a dodgy payroll company and an architecture firm whose prize development is a 6 story apartment building.

I appreciate Geller's ambition, but lets be real: there is a reason why these inexperienced, or experienced failures are leading these projects and no reputable local developer is touching them. There is also probably a good reason none of Geller's other projects have ever worked out.

I absolutely agree. Ever since the Bell Block's woes, I've always been highly skeptical of anything Buzz Gellar proposes. He certainly doesn't have a great reputation in the Denver developers' world.

[mhays]

That's an awesome looking building.

It'll be expensive, but in a hot-enough market, who knows. Hopefully they're basing the concept on a realistic guesstimate of what it would cost and realistic assumptions of rents etc. Sometimes developers are off by 20% before reality sets in.

Some developers even build spec projects during down times because building is cheaper, with the idea that a three-year construction duration will end during a stronger economic time.

[TakeFive]

Originally Posted by mhays

That's an awesome looking building.

Hopefully they're basing the concept on a realistic guesstimate of what it would cost and realistic assumptions of rents etc.

You're assuming they even bothered with such trivia.

Originally Posted by mhays

Some developers even build spec projects during down times because building is cheaper, with the idea that a three-year construction duration will end during a stronger economic time.

Denver/metro and even the state's politico's plus the voters have in the past made such strategic and brilliant infrastructure decisions.

And if you think about it, today's building boom started in the depth of the Great Recession but in bellwether coastal cities. There were plenty who had cashed in their chips prior to the crash or had sold the market short and had lots of money sloshing around.

"Oh Lord, give me one more chance to time the market and this time I won't blow it."

[mhays]

Actually, market timing is an important part of development, depending on the developer's mindset.

[enjo13]

Welp.. time to move all of my investments into something safer. Slender, tall building proposal in Denver? It's officially time for the economy to crater.

[Fritzdude]

Originally Posted by enjo13

Welp.. time to move all of my investments into something safer. Slender, tall building proposal in Denver? It's officially time for the economy to crater.

No kidding. There's probably a good chance we'll be reminiscing about these proposals 5 years down the road just like prior to the last recession. I miss that Lawrence and 14th project.

[Denver]

Did Buzz Geller just go from being one of the most infamous land bankers in denver to having three awesome proposals on his land???

[Matt]

About time Denver finally figured it out.

One of the capital partners on this project is listing it as 80+ stories:

https://www.greenwichrc.com/acquisitions

[twister244]

Originally Posted by Matt

About time Denver finally figured it out.

One of the capital partners on this project is listing it as 80+ stories:

https://www.greenwichrc.com/acquisitions

Wait... this isn't the same project as 650 17th?.... Right?........ Because if this is yet another project..... not sure what to do with myself.

EDIT: Looks like the same project based on the description. The floor count is off a bit though.

[wong21fr]

Originally Posted by Denver

Did Buzz Geller just go from being one of the most infamous land bankers in denver to having three awesome proposals on his land???

No, he's selling his land and letting someone else build, or try to build.

So still an infamous land banker- just one that's finally selling.

[pablosan]

I'm really not going to speculate on this one. I'll believe it, when it's submitted, and shovels are in the ground.

If it happens, it's going to be fun photographing the progress.

[twister244]

Well, well, well.

Denverinfill posts about the tower, then Crown takes their page down. Interesting....

[Matt]

Originally Posted by twister244

Well, well, well.

Denverinfill posts about the tower, then Crown takes their page down. Interesting....

"We incorrectly listed Denver, Colorado, as the site of this proposed development.
We apologize for any inconvenience or false sense of hope this error may have instilled in you."

[TakeFive]

Originally Posted by Matt

"We incorrectly listed Denver, Colorado, as the site of this proposed development. We apologize for any inconvenience or false sense of hope this error may have instilled in you."

Lucky Otters Haven

[Robert.hampton]

Originally Posted by wong21fr

No, he's selling his land and letting someone else build, or try to build.

So still an infamous land banker- just one that's finally selling.

Pretty sure he isn't even selling the land, because the developers he is working with have no money. So i guess he is trading development rights for things like penthouse condos if the development ever come through. She s you how credible all this is.t

[Robert.hampton]

Originally Posted by twister244

Well, well, well.

Denverinfill posts about the tower, then Crown takes their page down. Interesting....

And denverinfill removes the article.

Geller is the ultimate sketch ball that is unable to work with anyone that isn't equally dodgy. He's a parking lot owner, nothing more.

[Ich]

Originally Posted by Matt

"We incorrectly listed Denver, Colorado, as the site of this proposed development.
We apologize for any inconvenience or false sense of hope this error may have instilled in you."

Isn't the rendering in Denver tho? Maybe they just didn't want the publicity for market reasons 🤷🏽♂️

Used to work for the developers of everyone's favorite Jeff Park project 😂 and they were huge about not talking about future developments

[CherryCreek]

Originally Posted by Ich

Isn't the rendering in Denver tho? Maybe they just didn't want the publicity for market reasons 🤷🏽♂️

Used to work for the developers of everyone's favorite Jeff Park project 😂 and they were huge about not talking about future developments

"We accidentally listed Denver as the location of the development and created a conceptual drawing of a 70 story condo building on 16th Street in Downtown Denver. Our intent had been to design a bus station on Main Street in North Platte, Nebraska. We regret any confusion."

[Fritzdude]

Originally Posted by CherryCreek

"We accidentally listed Denver as the location of the development and created a conceptual drawing of a 70 story condo building on 16th Street in Downtown Denver. Our intent had been to design a bus station on Main Street in North Platte, Nebraska. We regret any confusion."

Ha.. I understand that we don't see behind the curtain on how these deals come to fruition, but it does make you wonder, how the heck does someone make that kind of error?

[Launch 12]

Figures. Too good to be true. Denver gets the shaft again.