DENVER | Main Development Thread #7

[laniroj]

Originally Posted by EngiNerd

Definitely the L-towns are getting the raw end of the deal. Louisville, out of all of them, would have benefited the most because the train would have actually gone right adjacent to their downtown.

What needs to happen is the train goes to Louisville as planned, and then run it straight up 95th Street to Longmont. Then maybe one day when Boulder gets its head out of its ass (doubtful) and allows the train further into the central district they can build their own spur.

Hell naw dawg. For all intents and purposes, Louisville has become Boulder. It's like differentiating Crestmoor Park to Cranmer Park - distinction without a difference. Louisville just voted down a massive growth opportunity with great jobs and housing. Screw Louisville and all the other anti-growth bedroom communities.

[laniroj]

Originally Posted by jhwk

All are pretty poor options due to asinine federal regulations and the great recession preventing the original Union Station plan from being built, where trains were under the bus terminal.

Just call Elon. He will build the train tunnels for $30 million each.

[wong21fr]

Originally Posted by TakeFive

- NVM; what is "PWR" ?

Powder River Basin.

[TakeFive]

Originally Posted by wong21fr

Powder River Basin.

That was my 1st thought but when I tried to google-confirm nothing came up. Shouldn't it be PRB?

[wong21fr]

Originally Posted by TakeFive

That was my 1st thought but when I tried to google-confirm nothing came up. Shouldn't it be PRB?

Could/should be. But I've seen it shortened as that abbreviation in studies- guess it stuck in my mind.

[TakeFive]

Warning - Bunch of good development posts coming soon...

Nah, not rds70 quality good posts. I'm relegated to the more mundane but we'll see if we can't spice things up.

Originally Posted by Ich

https://www.bizjournals.com/denver/news/...ntown-denver-coronavirus-urban-core.html

Pretty cool article about the future of downtown. One notable part was Amacon saying they are still moving forward with their twin tower condo project.

I did read this; you're correct it was quite good.

Think Congregation; not disintegration

Mark Falcone has heard the concerns of those who fear the coronavirus could leave urban centers such as Denver's permanently damaged. But he rejects that notion emphatically, noting the basic desire of human beings to congregate.

"It's not like cities haven't had to endure plagues, war, conflict, sieges. I mean, cities are incredibly resilient, durable places," Falcone said.

You gotta love Tami Door

"But the reality is that Denver has been asking, 'What's our future?' every day, every week, every month, every year, for decades and decades. And that is how we are where we are today."

And a few of us have been around long enough to appreciate exactly what she is saying.

[semiurban]

Originally Posted by TakeFive

Warning - Bunch of good development posts coming soon...

Did you fall asleep behind the wheel of your Uber or did they turn out to be Phoenix developments?

[DenvertoLA]

I'm rarely ever anti-development, but this is just sad. I saw a similar situation happen in Venice Beach when all the sculptures were kicked out to make room for snapchat. Art galleries and studios are what made RINO cool. This building is newly renovated! Now it will probably get knocked over for a subpar 8 story apartment building.

https://milehighcre.com/rino-office-building-sells-for-3-2m/


"According to the Denver Post, the fully renovated property was formerly occupied by Helikon Gallery & Studios, which cited high property taxes as a reason for closing its doors. "

[SirLucasTheGreat]

.The purchaser has a long-term vision for this property, and we were able to find an extremely stable tenant that will help them realize their investment goals for many years to come,” stated Corey Sandberg.

It doesn't sound like they are demolishing it soon but I'm not involved in the industry so my opinion is not worth much.

[gopokes21]

Originally Posted by semiurban

Did you fall asleep behind the wheel of your Uber or did they turn out to be Phoenix developments?

I'm going to guess both

Here's an amazing adaptive reuse into affordable housing that will anchor the Loretto Heights redevelopment. Article has some sweet pics.

https://denverite.com/2021/02/16/a-peek-...ll-soon-be-very-chic-affordable-housing/



For background here's the Loretto Heights Area Plan, which it looks like will absorb 1,000-2,000 new residential units and a bunch of other anchor uses.

https://www.denvergov.org/content/dam/de...lans/Loretto_Heights_Small_Area_Plan.pdf

[TakeFive]

Originally Posted by semiurban

Did you fall asleep behind the wheel of your Uber or did they turn out to be Phoenix developments?

Yeah, got jammed up yesterday. My son played being dyslexic and thought it was "Present's" day; what's a dad to do? Tuesday's are Senior Day at Goodwill so I got a good night's sleep. Got time for one post as tonight there's a double-header with Nuggets at 5:00 pm and Avalanche at 8:00 pm.

[TakeFive]

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[DenvertoLA]

Originally Posted by SirLucasTheGreat

It doesn't sound like they are demolishing it soon but I'm not involved in the industry so my opinion is not worth much.

I hope you're right.

[BG918]

Originally Posted by SirLucasTheGreat

It doesn't sound like they are demolishing it soon but I'm not involved in the industry so my opinion is not worth much.

Speaking of demolition the warehouse at 40th & Walnut is almost halfway gone. The site should be cleared by early next week. Then we can watch construction start on NOVEL Rino. What an improvement that will be for that lonely stretch of Walnut next to INDUSTRY, wow.



https://www.crescentcommunities.com/multifamily/novel-rino/

[SirLucasTheGreat]

That's exciting to see regarding Novel RiNo. The more that we can build around the 38th and Blake Station, the better IMO.

[TakeFive]

Developer stories fascinate me

Originally Posted by BG918

Speaking of demolition the warehouse at 40th & Walnut is almost halfway gone. The site should be cleared by early next week. Then we can watch construction start on NOVEL Rino. What an improvement that will be for that lonely stretch of Walnut next to INDUSTRY, wow.

Crescent Communities was ringing a bell that I couldn't place. When I checked their history, then I recalled researching them previously.

This is from June, 2013

Crescent Communities, a Charlotte, N.C.-based developer and builder, has opened an office in Denver as part of expanding its multifamily construction activities to key markets in the southwestern U.S.

It appears that the company has set its sights on the major markets in Texas, as well as Denver (where Cauley is stationed) and Phoenix, where his first official project will be a 275-unit community in Scottsdale, Ariz., which Crescent is planning to develop with Glimcher Realty Trust.

That article also explains Crescent had recently come out of bankruptcy from 2010 and that in 2018 Tokyo-based Sumitomo Forestry became their principal shareholder.

This is from April, 2014

Facilitated by EXDO Development in conjunction with Crescent Communities, Novel RiNo will bring Crescent’s national Novel multi-family brand to Denver’s RiNo Art District - featuring 475 multi-family units (including affordable housing) and over 20,000 sf of ground floor retail.

Note: Although you wouldn't know this EXDO post dates back to 2014, my search back to 2013 is what shows when it was first posted on the interwebs.

As the post from 2013 indicates
Crescent started building in Phoenix first and went on to build four different apartment projects. Crescent was an early-mover in Phoenix as 'we' were much slower to snap back from the recession. I have to think Crescent found Phoenix easier pickings for sites to develop and less expensive and easier to entitle.

Last Irony
from the 2013 article when you compare it to Crescent's RiNo site, the project named in 2013 which was to be developed first with Glimcher Realty Trust at their fashionable Scottsdale Quarter retail development is just now finishing construction. I drove by it recently and they are now in Pre-leasing.

[TakeFive]

G Line TOD in Arvada


Source

Transit Oriented Multifamily Community Sells to National Real Estate Firm
February 1, 2021 - Mile High CRE

The Praedium Group, a New York-based national real estate investment firm, has acquired the newly constructed Gateway Arvada Ridge multifamily community in Arvada, for an undisclosed price.

“The Denver market continues to outpace the country in terms of job and population growth... noted Lindsay Schuckman, vice president of The Praedium Group. “With Gateway Arvada Ridge, we are acquiring a high-quality, transit-oriented property, in a strong suburban location that is not only experiencing in-migration but also has high barriers to entry.”

Arvada Ridge Apartments

.....
Images courtesy of RENTCafe

Mixed Use Development - http://arvadaurbanrenewal.org/projects/arvada-station-ii/

The Gateway at Arvada Ridge is the final phase of the Arvada Ridge development which also includes the Super Target-anchored shopping center and the Arvada Station Apartments. The Gateway is located on 11 acres north of the Arvada Ridge Gold Line Station.

The development will include five, four-story buildings with tuck-under garages plus three buildings featuring carriage home style units above garages totaling 298 units. There will also be a unique art park plaza serving as the gateway between the development and the Arvada Ridge Station.

Arvada Ridge Station and Arvada Station Apartments

...
Photos courtesy RTD and RENTCafe

Arvada and specifically the Arvada Urban Renewal Authority have had a lot of NIMBY resistance. But at the least I like the mixed-use retail and apartments nearby the train station to activate the area and eventually spur more, hopefully denser development.

[TakeFive]

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[BG918]

Crescent is planning another NOVEL for Uptown at 16th & Logan. It will be 12 stories.

https://www.bizjournals.com/denver/news/...n-crescent-communities-denver-logan.html

[rds70]

I posted this Concept Plan review in November:

454 MF UNITS AND ASSOCIATED STRUCTURED PARKING ACROSS 1 BLDG WITH 2 TOWERS. APPROXIMATELY 491 STRUCTURED PARKING SPACES. ALL ASSOCIATED UTILITY MAIN REROUTES AND CONSTRUCTION AND BULIDING SERVICES LATERALS. RIGHT-OF-WAY DEDICATION FOR FUTURE HURON STREET AND FULL BUILD-OUT OF 39TH AVE. REQUIRED STREETSCAPE VACATION/DEDICATION FOR GALAPAGO STREET IMPROVEMENTS AND RIRO CONNECTION TO 38TH AVE.

The 20 story tower will include 150 condo units. The 18 story tower will include 304 apartments. Approximately 20,000 square feet of ground floor retail.

Here are a few renderings: