DENVER | Main Development Thread #7 - Page 232

BG918 · #**4621** Posted **Jan 25, 2019, 1:33 AM**

Quote:

Originally Posted by Robert.hampton

I guess the difference is there is actually a station named Union Station.

Uh there is a Broadway Station, one of the busiest stations outside of DUS.

TakeFive · #**4622** Posted **Jan 25, 2019, 1:55 AM**

Quote:

Originally Posted by CherryCreek

South Broadway?

Duh.

SoBro!

While I like this a lot, shouldn't it be reserved for

MOAR spaced leased by WeWork

https://www.bizjournals.com/denver/news/...-plaza.html?iana=hpmvp_den_news_headline

Quote:

The New York-based coworking company's lease is for 61,064 square feet at Civic Center Plaza located at 1560 Broadway. Following its scheduled opening Q3 2019, it will provide about 1,000 desks on floors 16, 17 and 21.

Go away; we don't wanna no more WeWork space

Quote:

Tanya Nygaard, WeWork’s director of community in Denver... added that the company's focus is on providing an "amazing" experience for its members as well as supporting its communities, by helping to make Denver an "even better" place to live, work and play.

"We are committed to Denver, and we are just getting started," she said.

Hoo Boy

TakeFive · #**4623** Posted **Jan 25, 2019, 1:57 AM**

Time for a little FasTracks love?
Sure, but let's make it FasTracks TOD love.

If a $450 million transit center and the 'train to the planes' weren't enough what's spectacular is the DUS neighborhood.

But we're just getting started as the recent announcement of Gates/Broadway station TOD appears to be finally ready for lift-off.

While it may have been briefly noted here, Ken had recent post on Zia which is an impressive TOD project near the 41st and Fox transit station in the Sunnyside neighborhood. This never would have happened, at least not at this dense level if it were not for the light rail station. And it's just the beginning for this station's TOD.

It won't be long for TOD near the 38th & Blake St Station to start popping. Also pending is the Sun Valley redevelopment and TOD near the Decatur-Federal Station. We're still waiting on the masterplan for Stapleton's Central Park Station but again more nice TOD to anticipate. DU is upping their own TOD game plans... and so it goes.

There will be lots more but the above all represent sizable and significant TOD. There's also been some TOD at the Alameda Station and little bit at the Evans Station and a little more at the Yale Station.

That's just in Denver
Lone Tree will hit a TOD home run and I could mention the exiting things in Aurora but I'll save it for a special post for a special city.

Thank you, FasTracks.

Eh, not a bad substitute for what was a 'double post'.

CherryCreek · #**4624** Posted **Jan 25, 2019, 1:58 AM**

Quote:

Originally Posted by TakeFive

While I like this a lot, shouldn't it be reserved for

MOAR spaced leased by WeWork

https://www.bizjournals.com/denver/news/...-plaza.html?iana=hpmvp_den_news_headline

Go away; we don't wanna no more WeWork space

Hoo Boy

Dear good, if WeWork gets more space we will have to rename downtown WeWorkVille.

Robert.hampton · #**4625** Posted **Jan 25, 2019, 3:20 AM**

Quote:

Originally Posted by BG918

Uh there is a Broadway Station, one of the busiest stations outside of DUS.

You must be thinking about the I25 & Broadway station

TakeFive · #**4626** Posted **Jan 25, 2019, 4:18 AM**

Are Denver apartment rents going down because vacancy is going up?
It depends on who you ask.

Rent Prices Down In Denver Metro Area, Amenities Offered
January 24, 2019 By Joel Hillan/CBS4 Denver

Quote:

DENVER (CBS4)– There is good news for those looking to rent in the Denver metro area: rent prices are down. And even better, some places are offering free amenities to lure renters.

According to the Denver metro area Apartment Vacancy and Rent survey published this week, average rents were down in the Denver metro area for the fourth quarter of 2018.

This is a better-than-average news piece which features Country Club Towers for their 'amenities' example. The article mentions that up to 6 weeks of free rent are being offered as incentives.

Businessden has a different take on rents
But their view is for all of 2018 and they contend that 'effective rents' (after incentives are factored in) are actually up.

DAYUM

Quote:

One City Block Apartments in Uptown raised prices the most in 2018, with a 31 percent increase in its effective rent, from $1,650 to $2,169.

Btw, One City Block was purchased by Deutsche Asset Management.

With still over 6,000 apartments under construction in DenverInfill's survey area including some Big Boys that should complete this year I would expect vacancy to creep higher with increasing incentives needed for some period of time. But with VF Corp's move to Denver and continued growth this is likely more of a short-term issue not threatening continued development except maybe at the margin.

Perhaps BG918 or somebody could update this year's expected apartment completions?

spr8364 · #**4627** Posted **Jan 25, 2019, 4:49 AM**

Quote:

Originally Posted by SirLucasTheGreat

I think it'll just be called Broadway Station in the same way that the area immediately proximate to Union Station is called Union Station.

The Master Plan calls it Broadway Station. BroSta! Okay, not the BroSta part.

RyanD · #**4628** Posted **Jan 25, 2019, 1:58 PM**

Yeah the train literally goes "This is the Broadway Station". Nothing more. "South Broadway" or SoBo already has an identity and a place so I think Broadway Station should be it's own thing. (And it will be)

SirLucasTheGreat · #**4629** Posted **Jan 25, 2019, 2:15 PM**

Not to belabor the point but they also call it Broadway Station with corresponding signs in the renderings on the project's website. http://www.broadwaystation.com

I'm excited for whenever the development and revitalization along the river in that area occurs. The parcel bought by the Austin developer won't encompass that area though.

Robert.hampton · #**4630** Posted **Jan 25, 2019, 5:06 PM**

Quote:

Originally Posted by RyanD

Yeah the train literally goes "This is the Broadway Station". Nothing more. "South Broadway" or SoBo already has an identity and a place so I think Broadway Station should be it's own thing. (And it will be)

You sure? If so that is fairly new. Forever the announcement on the train was 'I-25 and broadway station', which is aligned with the stations signage as it has been for a couple decades. But anyways I'll top belaboring the point, because obviously it doesn't matter and who give a $%$%.

BG918 · #**4631** Posted **Jan 25, 2019, 5:20 PM**

Quote:

Originally Posted by jhwk

On the other hand, if it is well done this would be a really great project for that part of town.

I was playing around on Google Maps and it looks like the "15,057 SF of active use along Broadway" is likely the entire existing parking garage but probably not the building at 1050 broadway. What has me curious is the 10th & Lincoln reference - are they going to demolish the 1-story office building on that corner?

Heard some more about this project yesterday. It's huge, 500 units. It includes demolishing the parking garage and office building at 10th & Lincoln. 15 stories along Broadway and 16 stories along Lincoln with the Sports Castle renovated into co-working office space in between. Absolute game changer for the Golden Triangle and Upper Broadway Corridor if it actually gets built.

CherryCreek · #**4632** Posted **Jan 25, 2019, 5:52 PM**

Quote:

Originally Posted by BG918

Heard some more about this project yesterday. It's huge, 500 units. It includes demolishing the parking garage and office building at 10th & Lincoln. 15 stories along Broadway and 16 stories along Lincoln with the Sports Castle renovated into co-working office space in between. Absolute game changer for the Golden Triangle and Upper Broadway Corridor if it actually gets built.

Sounds awesome. Will be interesting to see how they integrate the Sports Castle Structure into the development. I wonder whether they'd add height to the existing Sports Castle building?

A classy modern take on art deco integrated with the Sports Castle building would be cool.

CastleScott · #**4633** Posted **Jan 25, 2019, 6:08 PM**

Quote:

Sounds awesome. Will be interesting to see how they integrate the Sports Castle Structure into the development. I wonder whether they'd add height to the existing Sports Castle building?

A classy modern take on art deco integrated with the Sports Castle building would be cool.

That would be very cool and be a trophy project for Broadway as well..

Denver Dweller · #**4634** Posted **Jan 25, 2019, 6:09 PM**

https://businessden.com/2019/01/25/lenna...m_term=0_e8b1506f0c-e9b5cb0f73-147998669

TakeFive · #**4635** Posted **Jan 25, 2019, 6:34 PM**

Quote:

Originally Posted by CherryCreek

Sounds awesome. Will be interesting to see how they integrate the Sports Castle Structure into the development. I wonder whether they'd add height to the existing Sports Castle building?

A classy modern take on art deco integrated with the Sports Castle building would be cool.

Uhhh

Quote:

Originally Posted by rds70

An interesting proposal for the old Gart Bros. Sports Castle property on Broadway submitted to the City:

Wood Partners is the applicant. They build the "Alta" brand.

Enough said... this would be such a radical change from their cookie cutter 5-story project style including in DUS neighborhood. Who knows how much height or how nice or not this might be. On this project I'll be the atypical skeptical one.

Quote:

Originally Posted by Denver Dweller

https://businessden.com/2019/01/25/lenna...m_term=0_e8b1506f0c-e9b5cb0f73-147998669

With Lennar I've been pleasantly surprised compared to the modest expectations I started with.

TakeFive · #**4636** Posted **Jan 25, 2019, 7:14 PM**

Speaking of Lennar

Whatever happened to Canvass at 2401 Blake Street; is that under construction?

BG918 · #**4637** Posted **Jan 25, 2019, 7:19 PM**

Quote:

Originally Posted by TakeFive

Speaking of Lennar

Whatever happened to Canvass at 2401 Blake Street; is that under construction?

Yes currently under construction and will finish up this year adding 241 units to the Ballpark District.

RyanD · #**4638** Posted **Jan 26, 2019, 5:27 AM**

Quote:

Originally Posted by Robert.hampton

You sure? If so that is fairly new. Forever the announcement on the train was 'I-25 and broadway station', which is aligned with the stations signage as it has been for a couple decades. But anyways I'll top belaboring the point, because obviously it doesn't matter and who give a $%$%.

Haha, I'm like 99% sure. I take the train everyday to and from work. I'll have to double check Monday.

DenvertoLA · #**4639** Posted **Jan 28, 2019, 5:14 PM**

Not sure this will spill over to help get T2 off the ground, but it's good news either way.

https://businessden.com/2019/01/28/payro...60000-more-square-feet-in-two-buildings/

"Gusto, a San Francisco-based payroll startup that rolled into Denver in 2015, has ramped up its real estate as it looks to double its local workforce.

Gusto has leased an additional 60,000 square feet in Denver, with 10,000 at the Tabor Center, where the company already operates, and 50,000 at Park Central at 1515 Arapahoe St."

jhwk · #**4640** Posted **Jan 28, 2019, 5:52 PM**

Quote:

Originally Posted by TakeFive

Uhhh
Enough said... this would be such a radical change from their cookie cutter 5-story project style including in DUS neighborhood. Who knows how much height or how nice or not this might be. On this project I'll be the atypical skeptical one.

They were also a partner in the Glass House last cycle and have some good looking high rises in their portfolio...