DENVER | Main Development Thread #7

[rds70]

It looks like Mill Creek Residential is scraping the two tower Modera Golden Triangle plan at 11th and Bannock. The company has submitted a new concept plan for the site (the old Rocky Mountain PBS building):

8 story, 326 unit apartment building with approx. 4500sf ground floor retail and 391 parking spaces.

[BG918]

Originally Posted by rds70

It looks like Mill Creek Residential is scraping the two tower Modera Golden Triangle plan at 11th and Bannock. The company has submitted a new concept plan for the site (the old Rocky Mountain PBS building):

Where did you see this? That’s a surprise given the land costs in GT but 324 units is still a sizable project

[TakeFive]

Originally Posted by BG918

Where did you see this? That’s a surprise given the land costs in GT but 324 units is still a sizable project

Originally, they had proposed a 16-story which utilized zoning max height. This change reflects more their recent model so I assume there's efficiencies with that.

It could go to how much capital they want to allocate to this specific project. It could also hint at a reassessment for urban versus suburban investment going forward.

Just Found this tidbit

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

According to Zillow, 46.6% of Denver-area rental listings on its website in August were advertising some sort of rental concession. That's up from 28% in August 2019, and from 32.5% at the start of 2020.

Among the top 50 U.S. metros, Denver-Aurora-Lakewood is home to one of the highest percentages of rental listings offering concessions on Zillow. Only five metros in the U.S. are home to a higher percentage: Raleigh, North Carolina (46.8%); Orlando-Kissimmee-Sanford, Florida (47.2%); San Jose-Sunnyvale-Santa Clara, California (50.9%); Charlotte-Concord-Gastonia, North Carolina (56.5%) and the Washington, D.C., metro (59.2%).

In my best misogynist voice: Sometime the demand-supply curve is a fickle lady.

[DenverInfill]

Originally Posted by rds70

It looks like Mill Creek Residential is scraping the two tower Modera Golden Triangle plan at 11th and Bannock. The company has submitted a new concept plan for the site (the old Rocky Mountain PBS building):

With this the design will go from two boxes sitting on top of one box to just one big box.

[TakeFive]

Land = Dirt


Photo by Thomas Gounley via BusinessDen

Seems like someone had asked about this.

Developer buys land for proposed 20-story Belleview Station hotel
September 21, 2020 By Thomas Gounley/BusinessDen

A development firm planning a 20-story hotel in the Denver Tech Center’s Belleview Station has purchased the land. Englewood-based Cypress 16, acting as DTC Hospitality Venture I LLC, paid $1.29 million last week for the northwest corner of Chenango Avenue and Olive Street, according to public records.

Cypress 16 proposed a 20-story, 190-room Kimpton Hotel on 0.41 acres at the site in 2019. The land is immediately south of office building 6900 Layton, which is being completed by Denver-based developer Prime West.

[TakeFive]

Palisade Partners Closes on Land for TOD in SoBo
September 21, 2020 By Mile High Cre

Palisade Partners, developer of innovative and sustainable multifamily and mixed-use projects in Denver, has purchased 25,000 square feet (±0.57 acres) of land located at 1900 South Acoma Street in the popular South Broadway (SoBo) neighborhood.

According to plans submitted on April 6 to Denver’s Community Planning and Development department, Palisade plans to develop a 9-story, 165-unit residential tower on the site, as well as 7,030 square feet of ground floor retail. The mixed-use project will also include a 96,782-square-foot parking garage. Craine Architecture is the architect of record according to concept plans.

Summarize your thinking for us.

“The transit accessibility to this location is unmatched, with an extensive list of nearby amenities in every direction,” stated Cowan. “A 5-minute drive leads to over 12.4 million square feet of upcoming development. The active transit oriented development (TOD) location of SoBo has spurred mixed-use and multi-phased development in three major projects: Broadway Station, Santa Fe Yards and Broadway Park.”

Image provided by Palisade Partners via Mile High CRE

Art Soothes the Soul

Vacant Office Building in Lakewood to be Converted into Affordable Housing for Local Artists
September 21, 2020 - Mile High CRE

Zocalo Community Development will serve as the developer, general contractor and property manager. The project is reported to have received $47.6 million in construction financing, arranged by Bellwether Enterprise Real Estate Capital through the direct purchase of tax-exempt and taxable bonds issued by Colorado Housing and Finance Authority.

The Notable is an adaptive reuse of a 4-story, 160,000-square-foot office building on more than six acres at 730 Simms St. In addition to one and two bedrooms apartments, the re-development will also include 3,000 square feet of on-site retail space.

How did the Art angle come up?

The project took on a performing/musical arts personality after Zocalo met with neighbors and neighborhood associations. According to Zocalo, amenities will include practice and performance space for musicians and a large art studio for artists.

The Notable
730 Simms St. Lakewood, CO


Image courtesy of Zocalo via Mile High CRE

[kemachs]

Originally Posted by DenverInfill

With this the design will go from two boxes sitting on top of one box to just one big box.

AKA the Denver vernacular..

[rds70]

It looks like the proposed Ace Hotel at 19th and Logan/Grant is still slowly moving forward.

Per BusinessDen - https://businessden.com/2020/09/22/devel...ormer-catholic-school-campus-into-hotel/ :

A former Catholic school campus in Uptown continues to sit empty, three years after a rendering was released showing the property transformed into a hotel.

But the New York-based developer that now owns the property is still pursuing the project.

Last week, Tracy Huggins, executive director of the Denver Urban Renewal Authority — which works to spur redevelopment in areas in need of revitalization — briefed a City Council committee on a proposal that would help finance the project in the 1800 block of Logan and Grant streets.

The developer, GFI Development Co., has proposed renovating three nearly century-old structures at the site, and building an 11-story building on an existing parking lot.

DURA is asking the council to sign off on $14.25 million in tax increment financing, meaning the developer would be reimbursed up to that amount when the project generates sales tax revenue and increased property tax revenue.

[DenvertoLA]

if a $14 million + incentive can't get a hotel off the ground, we're done for a while

[The Dirt]

It's not the hotel that's the issue, but the rehabbing of several historical properties that are crumbling. The developer has been chasing HUD money for at least 2 years to get this to work and if they can't do it, I don't know who can. That Cathedral High School building is ready to fall over any minute.

[laniroj]

Originally Posted by The Dirt

It's not the hotel that's the issue, but the rehabbing of several historical properties that are crumbling. The developer has been chasing HUD money for at least 2 years to get this to work and if they can't do it, I don't know who can. That Cathedral High School building is ready to fall over any minute.

I've been through every inch of that building it's solid, very good bones and very well maintained for most of its existence. The real need for the incentive is on the adaptive re-use side and in the retail uses I'm sure ACE is planning. Much harder to get hotel financing for mixed-use, which is why we see so many boring flags with no ground level activity. Anyone remember how much DUS cost?! If TIF incentives are what we need to do to get better looking/functioning projects in this city, I'm all for it.

[spr8364]

Originally Posted by The Dirt

It's not the hotel that's the issue, but the rehabbing of several historical properties that are crumbling. The developer has been chasing HUD money for at least 2 years to get this to work and if they can't do it, I don't know who can. That Cathedral High School building is ready to fall over any minute.

That seems very unlikely. Do you have any data supporting that? I've done work in a lot of old buildings in Denver that are very run down. And rarely is the structure seriously compromised unless the roof and windows are all broken out and the weather is allowed to get in.

[The Dirt]

I meant DURA, not HUD. The exterior is crumbling, so that's all I can speak to.

[TakeFive]

Change is in the air - starting September 27th

It was nice while it lasted but we're closing down the Cherry Creek Trail.

Denver to Replace 14th Avenue Bridge, Add Multimodal Safety Enhancements

DENVER – As part of the Elevate Denver Bond Program, which voters approved in 2017 to fund critical improvements to infrastructure, Denver’s Department of Transportation & Infrastructure (DOTI) will replace a 60-year-old bridge on West 14th Avenue between north and southbound Speer Boulevard... The bridge is expected to reopen to thru-traffic in February 2021, weather permitting, with intersection improvements continuing through spring 2021.

Per City of Denver

[spr8364]

Originally Posted by The Dirt

I meant DURA, not HUD. The exterior is crumbling, so that's all I can speak to.

Probably stucco pealing. That is pretty common.

[TakeFive]

The clock strikes midnight on September 30th

https://www.thedenverchannel.com/news/ou...hts-denver-projects-art-onto-clock-tower

DENVER — This is the last weekend to view the “Night Lights Denver” on the Daniels and Fisher clock tower, before the installation ends on Sept. 30.

The art installation features 10 different artists' creations using video mapping and projections.

Image courtesy Denver.org

• Video Link

[bulldurhamer]

looks like a 'for lease' sign is up where the TRAIN development in rino was supposed to go...


in other news, wtf is up with the barricades in the middle of the streets we drive? how is this doing anything but making things more dangerous as we try to navigate around these things clogging up intersections? they make it harder to see and force us to enter space in the road where we shouldn't be driving.
hell, i had the wind blow one over nearly killing my dog the other day. this just may be the the stupidest response to covid yet. let's take perfectly safe slow neighborhood streets and throw a bunch of flimsy barricades in the way for no good reason so we can somehow act like shared streets something. moronic.

the next moronic thing is the portapotty that they just dropped into a perfectly safe and not homelessy park in the area. guess they're ready for that no homelessy part to change.

[Curtis Park]

Originally Posted by bulldurhamer

in other news, wtf is up with the barricades in the middle of the streets we drive?

This is not news, this is a rant.

Originally Posted by bulldurhamer

how is this doing anything but making things more dangerous as we try to navigate around these things clogging up intersections?

If they're slowing you down and making you pay attention, they're helping. But really you need to be more specific. Are these up for construction? Then you know why they're there. Are they up for an event? Then you know why they're there. Are they up to make outdoor seating available for a struggling restaurant? Then you know why they're there.

Originally Posted by bulldurhamer

hell, i had the wind blow one over nearly killing my dog the other day.

Seriously? Did it blow over and hit your dog causing serious life threatening injuries? Or did it just blow over in the vicinity of you and your dog, causing you both to jump a bit?

Originally Posted by bulldurhamer

the next moronic thing is the portapotty that they just dropped into a perfectly safe and not homelessy park in the area. guess they're ready for that no homelessy part to change.

Who is this "they" you speak of? If it's a stupid porta potty placement, you need to talk to Homeless Outloud. They put them up all over the place.

I know, we should not engage with this irrational whiner but I guess I couldn'g help myself this time.

[The Dirt]

The owners of 1295 Race St, a 6 story apartment building on the NE corner of Cheesman is applying for a demolition permit. From what I've heard, there aren't any immediate plans to demolish the building, nor are there concrete (pun!) redevelopment plans, but this lot is zoned G-MU-20, so it could potentially be redeveloped into a 20 story condo or apartment building.

[rds70]

It looks like PMG is changing the program for the X3 Denver project.

According to the plan, parking will be added to the project (the current plan has no parking) removing two floors of residential. This building is still planned for 22 stories.

From the requested modification:

SDP Amendment 1 - The purpose of this amendment is to document the addition of 2 parking level (for a total of 74 parking spaces) and the removal of 2 residential levels, leaving a total of 351 units. This amendment includes programmatic and/or square footage changes on levels 1-7 of the project. Changes to levels 8-22 are minor and largely related to the redistribution of the column grid. The building elevations have also been updated to accommodate these altered levels.