DENVER | Main Development Thread #7

[TakeFive]

The Governor threw a hissyfit

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

In a rare letter to the General Assembly accompanying his signing of his final batch of 2020 session bills late Tuesday, Polis expounded up his concerns that SB 219 circumvented the capital-construction evaluation process and comes at the cost of future state needs

Was it a close vote?

Senate Bill 219 — sponsored by Sen. Rhonda Fields, D-Aurora, and Sen. Jerry Sonnenberg, R-Sterling — authorized the state treasurer’s office to execute a $65.5 million lease-purchase agreement by June 2021 to pay for capital projects at three colleges. All three had begun in recent years, but when coronavirus hit and caused $3.3 billion to disappear from the state’s budget for next year, Polis reduced or eliminated their funding, leaving each in jeopardy of not getting finished or of having to scale back plans.

Sonnenberg explained that without the funding boost, the projects would either have to scale back or grind to a halt, which means the colleges would still to pay to maintain unfinished buildings that could be damaged in the meantime. “By spending 4 to 5 million dollars, we could avoid 70 million dollars of damage,” he said. “I know that may cause some heartburn to spend money. But from my perspective, this is a good business approach.”

Most legislators agreed. The Senate approved SB 219 unanimously, and the House passed it 53-12, with only a dozen of the chamber’s most fiscally conservative Republicans objecting. But the one person who did not like the plan was Polis, the entrepreneur-turned-Democratic-governor.

What are we even arguing over?




Renderings courtesy of ZGF Architects via Bisnow

Health Sciences Building Rising At Anschutz Medical Campus
February 12, 2019 By Margaret Jackson, Bisnow Denver

Construction has started on the 390,914 SF Anschutz Health Sciences Building at the University of Colorado Anschutz Medical Campus. Designed by ZGF Architects in partnership with Anderson Mason Dale, the building is in a gateway location at the western edge of the campus in Aurora.

The building will serve as a beacon marking an entry point to the campus via the “artwalk” — a path connecting many campus buildings. Multiple users will occupy the building, including researchers, faculty and staff, students and patients. It includes facilities for computational research and clinical trials, an educational medical simulation hub, mental and behavioral health research clinics, faculty offices and other educational and amenity spaces.

Reneging on previously committed higher education infrastructure funding would have been a cardinal sin. The Anchutz medical campus, like DIA is a 'beacon asset' that is an ongoing jobs creator and gives the Denver Metro a reputational and competitive advantage.

https://news.cuanschutz.edu/news-stories...ding-390000-square-feet-of-possibilities

CU President Bruce Benson called it an “important day,” giving special thanks to Philip Anschutz and The Anschutz Foundation, which in August made an unprecedented financial commitment of $120 million to accelerate the campus’s growth and development. The gift supports strategic faculty recruitment and retention, innovative research efforts, industry partnerships and technology transfer, as well as the new interdisciplinary Anschutz Health Sciences Building.

“This building will help CU Anschutz on its trajectory as one of the leading medical care, research and education facilities in the world,” Benson said.

[DenvertoLA]

So I noticed something interesting on the site for 1900 Lawrence. On their surrounding development page they have a rendering for proposal on the lot across from the 18th & Market Apartments. It's listed as "Elevation Development Mixed-Use"
The developer listed is Elevation Development Group. It says it has
200,000 SF Office and 150 Units. There even is a rendering.

ALSO

It says Sakura Square has a redevelopment plan set with 199 units and 600,000 sf of office space.

Can anyone confirm these projects?

https://www.1900lawrence.com/neighborhood.html#dev

[TakeFive]

Nice sleuthing

Originally Posted by DenvertoLA

So I noticed something interesting on the site for 1900 Lawrence. On their surrounding development page they have a rendering for proposal on the lot across from the 18th & Market Apartments. It's listed as "Elevation Development Mixed-Use"
The developer listed is Elevation Development Group. It says it has
200,000 SF Office and 150 Units. There even is a rendering.

ALSO

It says Sakura Square has a redevelopment plan set with 199 units and 600,000 sf of office space.

Can anyone confirm these projects?

https://www.1900lawrence.com/neighborhood.html#dev

I can't speak to Denver Planning; I'll leave that to rds70 et al.

Elevation Development Group is the Farber family. They previously developed 16M in LoDo and the MOTO apartments which they then sold. (That project turned out nice.) They also envisioned The Hub project but sold prior to construction to Beacon Capital Partners but remained a co-developer. They've also developed a couple of buildings in Cherry Creek.

The one you missed is this:

Greyhound
Developer: Confidential
700,000 SF Office | 750 Units
Estimated completion: 2023

Here's another one I initially missed:

Tabor Center 2
Beacon Capital Partners
680,000 SF Office
Estimated completion: TBD

Tabor 2 being owned by Beacon is news to me.

[RyanD]

All the permits / plans for Two Tabor are closed and withdrawn.

[EngiNerd]

Originally Posted by DenvertoLA

So I noticed something interesting on the site for 1900 Lawrence. On their surrounding development page they have a rendering for proposal on the lot across from the 18th & Market Apartments. It's listed as "Elevation Development Mixed-Use"
The developer listed is Elevation Development Group. It says it has
200,000 SF Office and 150 Units. There even is a rendering.

ALSO

It says Sakura Square has a redevelopment plan set with 199 units and 600,000 sf of office space.

Can anyone confirm these projects?

https://www.1900lawrence.com/neighborhood.html#dev

Sakura Redevelopment has been talked about for nearly a decade if not more, I'll believe it when I see it.

[i4isoar]

Originally Posted by rds70

1900 Lawrence is still moving forward!

Originally Posted by TakeFive

Never fear; Riverside Investment and Development Company is still here

Coronavirus provides first opportunity to build next-gen office building in Denver with 1900 Lawrence.

Best news I've heard all week. Of all the projects and proposals in the last year (almost all pre-pandemic), this one was the one I was most excited for, mainly because I hope that the design will help set a precedent for new high-rises moving forward.

I only wish there wasn't a height restriction in that part of town so it could be a true skyscraper at 500'. But it will still look great when it's finished, both in and of itself and also together with the surrounding neighborhood, and I'm content with this being Denver's answer to Austin's Block 185/Google Tower. I hope this is a sign of bigger and better things to come once the current crisis is over.

[bunt_q]

Originally Posted by RyanD

All the permits / plans for Two Tabor are closed and withdrawn.

That’s promising for the future since there is no doubt in my mind that the reemergence of Two Tabor caused COVID-19.

[i4isoar]

Originally Posted by bunt_q

That’s promising for the future since there is no doubt in my mind that the reemergence of Two Tabor caused COVID-19.

Although... now that you pointed it out, I looked back, and it seems that every time a new proposal is made for Two Tabor, disaster and calamity ensue within 2 years (I guess kinda like Denver's own little version of "the Skyscraper Index").

• 1984: oil bust in 1986.
• 1999: 9/11 and bursting of the Dot Com Bubble.
• 2006: 2008 recession.
• 2018: COVID-19 and civil unrest.

One has to wonder...

[RyanD]

^ Well aren't those just happy little coincidences. *puts on tin foil hat*

[laniroj]

Originally Posted by RyanD

^ Well aren't those just happy little coincidences. *puts on tin foil hat*

Speaking of tin foil hats and development cycle black swans, couldn't we throw Gates into there too?! Seems every time we get close to actual development on that one, disaster ensues as well.

Anyone have any updates on Gates progress or delays?

[Ich]

Couple things I noticed this weekend.

Looks like Amli broke ground on their project on Alameda and Broadway. Entrance into Safeway from Alameda is blocked off.

Not sure is it’s new but there is a fence up around Shelby’s

And it looked like there was a for sale sign on the lot where Marriott was supposed to go. Is this project dead?

[BG918]

Originally Posted by Ich

Couple things I noticed this weekend.

Looks like Amli broke ground on their project on Alameda and Broadway. Entrance into Safeway from Alameda is blocked off.

Not sure is it’s new but there is a fence up around Shelby’s

And it looked like there was a for sale sign on the lot where Marriott was supposed to go. Is this project dead?

There is a lot of utility work that needs to be done prior to starting construction. I think actual construction starts later this fall.

I have heard the Marriott is on hold. Too bad that was a great-looking project.

[twister244]

Originally Posted by Ich

Couple things I noticed this weekend.

Not sure is it’s new but there is a fence up around Shelby’s

I am still extremely skeptical about that project. Still no sales website for the condos...... And I can't find a page on either Davis's or Amacon's website highlighting the proposed development. Throw in the economic uncertainty right now, and I have a hard time believing this project will get off the ground. Folks are more than welcome to convince me otherwise.....

[The Dirt]

Originally Posted by BG918

I have heard the Marriott is on hold. Too bad that was a great-looking project.

Where is this?

[twister244]

Took a quick drive today during lunch to check out a few things:
1.) WTC is still not under construction, despite months (if not years) of press releases making it sound like they are imminently or are under construction.
2.) Didn't see any evidence of imminent construction at Shelby's.
3.) The area up by Downing/38th looks sooooo different compared to a few years ago. If WTC does go up, and T3 can get going, the area will ultimately be completely unrecognizable eventually.

[TakeFive]

Originally Posted by i4isoar

Although... now that you pointed it out, I looked back, and it seems that every time a new proposal is made for Two Tabor, disaster and calamity ensue within 2 years (I guess kinda like Denver's own little version of "the Skyscraper Index").

• 1984: oil bust in 1986.
• 1999: 9/11 and bursting of the Dot Com Bubble.
• 2006: 2008 recession.
• 2018: COVID-19 and civil unrest.

One has to wonder...

Well done!

Still curious as to how Beacon ended up with 2 Tabor I put some feelers out. Word on the street is that they acquired it as consolation prize in a low-stakes poker game.

Originally Posted by twister244

I am still extremely skeptical about that project. Still no sales website for the condos...... And I can't find a page on either Davis's or Amacon's website highlighting the proposed development. Throw in the economic uncertainty right now, and I have a hard time believing this project will get off the ground. Folks are more than welcome to convince me otherwise.....

Last (construction) news item on Amacon's website was October of last year:

Last Chance at Pre-construction Pricing!

The latest development in Mississauga’s vibrant Parkside Village Community, Avia, is preparing to begin construction. The 38-storey and 49-storey collection of elevated and exclusive residences include stunning townhomes and penthouses, as well as inviting amenities that combine to create the idyllic home for modern families.

Good guess they're in a COVID Coma in Denver for now.

Misc News

I happen to notice after today's Nasdaq rally that Twillio was up a nice 10% which rang a quiet bell in me brain. Yup, they opened a "Sendgrid" office in downtown Denver. Outside of their 3 Cali offices they also have office locations in Denver, Atlanta and New York . Their stock has gone from $100/share at the beginning of the year to now $263/share.

[BG918]

Originally Posted by The Dirt

Where is this?

14th & Stout across from the convention center



https://denverinfill.com/2019/03/new-project-14th-stout-hotel.html

[TakeFive]

Don't care for the editorializing but I like the NEWS

Denver officials OK pricey repairs and a facelift for wrinkly 16th Street Mall despite outcry over other priorities
July 20, 2020 By David Sachs/Denverite

A makeover of the 16th Street Mall took a major step forward Monday when the Denver City Council approved an agreement that funnels earmarked tax dollars into the project.
.....
The council voted to advance the project by a vote of 11 to 1, with Councilwoman Candi CdeBaca dissenting. Councilwoman Debbie Ortega was absent.

Also, an opportunity for infrastructure improvements.

Bus shuttles will take over the middle of the street under which a water line from the 1800s will be replaced.

You are welcome to read about the supposed controversy. Kevin Flynn had the response.

Councilman Kevin Flynn represents the city on the Denver Regional Council of Governments, which doles out federal funding to cities and counties. Flynn said Denver wrested $20 million for the mall from suburban officials “after substantial struggle and conflict.”

“If this project were to be lost by voting no on the DURA amendment tonight, it would be more than another decade before the funding sources could be assembled again, if at all, while the mall would continue to deteriorate past its 50th year of service,” Flynn said in a statement.

[TakeFive]

A quartet of good choices

Conor McCormick-Cavanagh of Westword fame has a nice piece of the final four names to replace "Stapleton".

Note: this is the 2nd piece by Conor I've read recently; guy knows how to write. Checking his bio, he "previously worked as a journalist in Tunisia "
Props to his nascent career.

Mosley is growing on me. Either Skyview or Concourse would make a good choice but it appears to be a horse race between Central Park and Mosely.

[CONative]

Originally Posted by TakeFive

A quartet of good choices

Conor McCormick-Cavanagh of Westword fame has a nice piece of the final four names to replace "Stapleton".

Note: this is the 2nd piece by Conor I've read recently; guy knows how to write. Checking his bio, he "previously worked as a journalist in Tunisia "
Props to his nascent career.

Mosley is growing on me. Either Skyview or Concourse would make a good choice but it appears to be a horse race between Central Park and Mosely.

Uh, no. Not a horse race. Central Park is way ahead and should stay that way -- whether it's the best name or not.