DENVER | Main Development Thread #7

[BG918]

Originally Posted by SirLucasTheGreat

I think you are probably either referring to The Current at 36th and Delgany or something with the RiNo promenade. I do not believe the has been any excavation yet at the Watershed site. The most significant, recently under construction projects in RiNo include The Current, FoundryLine, and Novel RiNo

Must be The Current. So that’s 2 tower cranes at Novel RiNo at 40th & Walnut, 1 at Hines’ “Residences at RiNo” at 43rd & Brighton, 1 recently up at FoundryLine at 37th & Walnut and now 1 at The Current. So 5 tower cranes currently up in RiNo (not including the self erector at the Vib hotel).

I’m interested to see what happens with these projects:
- World Trade Center 38th & Walnut
- Watershed 35th & Brighton
- T3 36th & Blake
- TRAIN 40th & Blake
- Paradigm 34th & Walnut
- McCaffery 35th & Wynkoop https://www.milenderwhite.com/our-work/35th-wynkoop/

[SirLucasTheGreat]

Sounds right! Lots of exciting activity in RiNo. I'm thinking that a higher percentage of Golden Triangle projects make it though because they are pretty much entirely residential. I think the office components to Watershed and WTC might struggle with leasing

[TakeFive]

Where were you in 1969? - (Did you exist in 1969?)

Cool aerial view of Diamond Hill site from 1969 (per Getty Images/Denver Post)

Originally Posted by The Dirt

Also, it looks like Diamond Hill will demolish the existing 4 office buildings and redevelop that whole property. Here's hoping for some new street alignments, too. Anyone have access to the site development plan or renderings?

https://www.bizjournals.com/denver/news/...family-diamond-hill-downtown-denver.html

Denver-based Confluent Development has proposed a pair of five-story multifamily buildings on part of a high-profile redevelopment site located just outside downtown Denver. The proposed apartment buildings would replace a 3.1-acre surface parking lot referred to as the "Upper Lot." The land is zoned for mixed-use buildings up to five stories.

The 7.4-acre "Lower Lot," located directly to the east, consists of four office buildings... which is not addressed is zoned for mixed-use buildings up to 12 stories.

Wait... Hold the Phone... just as we were going live we've been handed an update...

1,000 new housing units, 2 office buildings proposed on site near downtown Denver
Jun 22, 2021 By James Rodriguez – Reporter, Denver Business Journal

In early June, Confluent submitted a concept plan to the city that addressed a 3.1-acre portion of the property known as the "Upper Lot." With the recent submittal of additional plans for the 7.4-acre "Lower Lot," the Denver-based development firm appears to be eyeing the entire 10.5-acre site, which is located directly west of the Interstate 25 and Speer Boulevard interchange, in the Jefferson Park neighborhood.

Here's what Confluent is proposing on the Lower Lot, according to the recently submitted concept plan:

• A 451-unit multifamily residential building with 10,866 square feet of retail space and 413 parking spaces
• A 569-unit multifamily building with 44,674 square feet of retail and 499 parking spaces
• A pair of buildings totaling 411,187 square feet of office space, along with a combined 707 parking spaces and 3,600 square feet of retail
• A central plaza and neighborhood hub

Lastly, check out this beautiful aerial view of the existing Diamond Hill OB's with downtown Denver in the background.

-------------------

Originally Posted by laniroj

Apparently, more than one multifamily development...

https://www.google.com/maps/@39.6778913,...itch%3D0%26thumbfov%3D100!7i16384!8i8192

Nicely done!

[DenverInfill]

Originally Posted by SirLucasTheGreat

Now I just want to see the 5280 trail built. If it moves forward, I'm sure it'll take faaaarr longer than it reasonably should but that would be a nice amenity for places like Golden Triangle.

The 5280 Trail is getting underway. They have created a citizen-led Task Force for each of the six neighborhoods the 5280 runs through: LoDo, Five Points, Capitol Hill, Golden Triangle, La Alma/Lincoln Park, and Auraria. I'm the chair of the Auraria 5280 Task Force. We will begin installing basic 5280 Trail identification and wayfinding signs this summer/fall, and each neighborhood Task Force is soliciting artists for public art pieces called "trailheads" that will be installed along the trail. The full build out of the trail's permanent cross-section with special pavers, etc. will likely take a decade, but we are not waiting to do the full 100% all at once. We are starting with small but important steps of marking the trail and getting the community familiar with its existence. The entire 5.280-mile loop will have common urban design and wayfinding features while also having unique features that reflect the character and culture of the six neighborhoods.

[SirLucasTheGreat]

That's exciting! Thanks for sharing and for serving on the task force. Hopefully, the project will gain some visibility as it gets started because I think it has the potential of being a very distinctive attraction. From a mobility standpoint, I'm really excited to see how the trail might serve as a beltway (almost like c-470) with connections to major arteries like the Cherry Creek trail and destinations (Coors Field, Union Station, Ball Arena, Auraria Campus, State capitol, art museum, etc...)

[TakeFive]

What do these two apartments have in common?

Steele Creek - 3222 E 1st Ave



Cirrus - 1590 Grove Street

.....
All images courtesy UDR-Denver

Both properties belong to UDR, Inc whose headquarters is in Highlands Ranch, Colorado. UDR is the 3rd largest Apartment REIT ($11.8 billion) by asset value behind Equity Residential ($36.2 billion) and AvalonBay ($24.6 billion) (Source). Steele Creek was (obviously) acquired while Cirrus was developed in house with Katerra who recently declared Bankruptcy but continues to wind down it's operations. I'm assuming they're still completing Cirrus which is now advertised as being available for rent.

292-Units Break Ground Near Mile High Stadium
August 29, 2019 - Mile High CRE

Katerra, a technology-driven construction company, broke ground earlier this month on Cirrus, the company’s latest project alongside developer UDR. Cirrus is a 230,000-square-foot residential development featuring 292 apartments on a 2-acre lot west of Mile High Stadium at 1590 Grove Street in Denver. Cirrus will help address Denver’s continued affordable housing shortage crisis.

Planned for final completion in Fall 2021, Cirrus will offer community residents 58 studios, 171 one-bedroom, 60 two-bedroom and three three-bedroom units

Isn't this just fascinating?
Why yes, yes it is.

[TakeFive]

Staying on the West Side

Sheridan Station Apartments - 5330 W. 11th Ave


Image courtesy Mile High Development via ForRent.com

https://www.denvergov.org/Government/Dep...ning-of-133-New-Affordable-Apartments-in
March 26, 2021 - City/County Denver

Sheridan Station Apartments offers income-restricted residences adjacent to RTD’s W Line.

Mayor Michael B. Hancock and other officials celebrated today’s grand opening of the Sheridan Station Apartments, offering 133 units of permanently affordable rental housing at Sheridan Station on the Regional Transportation District’s W Line. Located at 5330 W. 11th Ave., the project was developed by Mile High Development and Brinshore Development. The site is part of the Urban Land Conservancy’s Community Land Trust, ensuring the property will remain affordable for generations through a 99-year renewable ground lease.

https://comcapmgmt.com/property/sheridan-station/

Sheridan Station is now 100% leased. To submit an online application to join our waiting list...

The Sheridan Station Apartments is a new eight-story development conveniently located just steps from both the Sheridan Station Light Rail Station on RTD’s W line and a regional bike trail that runs through Lakewood/Dry Gulch Park. As an incentive for living at Sheridan Station Apartments, one RTD Neighborhood EcoPass (NECO) will be given to each household.

Dammit
I would have applied sooner had I realized they were handing out free EcoPasses.

[TakeFive]

Nice looking; nice area; what's not to like?

1230 S PEARL




Images courtesy of Narrate

5-story apartment building about to rise at the edge of Denver’s Platt Park neighborhood
May 3, 2021 By Cuyler Meade - BusinessDen/DP

A new local development firm’s first project is about to break ground at the edge of Platt Park. Narrate, led by Adam Fenton, expects to begin work May 17 on a five-story, 73-unit apartment building
at 1230 S. Pearl St. and be finished in 15 months.

Fenton purchased the 0.43-acre site for $3.9 million in November 2019. It was previously home to an auto repair shop called Buchtel Motors and a pair of single-family homes. Those structures were
recently demolished.

Who is Adam Fenton?

Fenton worked locally for Washington-based multifamily developer Holland Residential from 2011 to 2015, and for Denver-based developer BMC Investments from 2015 until he founded Narrate.

Fenton said Narrate will focus on smaller projects.

Nice Resume! Tell me more.

“I think we’ve designed a project here that the neighborhood will be very proud of,” Fenton said Wednesday. “I think it’s something that lines up with modernness but also a very historic feel. It’s an 80
percent brick building, 10 percent windows and 10 percent metal panels. We spent a lot of time with Oz, the architect, on the project to design what we feel is a building that will stand the test of time.”

The ground floor will have two retail units. One, which Fenton anticipates will be leased to a restaurant, is about 3,400 square feet, he said. The other is roughly 1,600 square feet.
No tenants have been lined up yet.

Shaw Construction is the Contractor.

[SirLucasTheGreat]

Proposed building could block mountain view, but doesn't break Denver view plane rules
https://www.9news.com/article/news/local.../73-c0665361-5451-4acf-a2a7-b65221a28065

President Brad Cameron is concerned with zoning changes that the city is considering in the Golden Triangle, which is essentially from Speer and Broadway to downtown. Even though the Golden Triangle is west of Cheesman Park, it is beyond the limits of the view plane.

Golden Triangle currently has a building height limit of 175-200 feet. The city is considering allowing 250 feet tall buildings or 325 feet tall if there is affordable housing or additional fees paid.

Depending on your view, a 250 or 325-foot tall building might interfere with the mountain views from the Cheesman Park view plane. But the construction of the building is not within the view plane, so it would not be bound by it.

[laniroj]

Originally Posted by TakeFive

Nice looking; nice area; what's not to like?

1230 S PEARL

That is a damn nice looking building. More of these please. If I ever pivot from what I'm doing now I'd love to build quality looking/located projects like this one. Good on this Mysterious Mr Fenton.

[escodu05]

Been about 6-7 years since I posted here..

Almost partnered with Fenton on that Pearl deal. Am partnering with him on a deal a block away, 3 story and 42 units. Excited about both developments, Will really improve the neighborhood.

I’m surprised no one has pulled the rendering from the Post on Diamond Hill.

[The Dirt]

Yeah, that's a really nice looking project. We really need the developers that slap 5 different color panels on a building and call it good to feel some shame. I'm curious what the Fugly crowd will find to hate about this.

[SirLucasTheGreat]

Holland plans second apartment complex along Santa Fe in Denver’s Lincoln Park
https://www.denverpost.com/2021/06/25/apartment-complex-santa-fe-denver-lincoln-park/

Washington-based Holland Partner Group is currently building a five-story, approximately 200-unit apartment complex in the southern portion of the block formed by Santa Fe and Inca Street, and 10th and 11th avenues. It purchased that site for $8.7 million last November, breaking ground shortly thereafter.

Now, the company has proposed a second project that would take up the northern portion of the block.


The company’s concept plan, submitted to the city last week, calls for two five-story buildings with a combined 225 units and 203 parking spaces. There would be about 8,000 square feet of retail space along Santa Fe Drive

[The Dirt]

Originally Posted by escodu05

I’m surprised no one has pulled the rendering from the Post on Diamond Hill.

https://www.denverpost.com/2021/06/24/new-office-residential-buildings-denver-jefferson-park/

I wish they would have extended Zuni all the way to Byron Pl. and fixed the wonky street grid. Oh well.

[TakeFive]

Thanks; that's all

Originally Posted by The Dirt

I wish they would have extended Zuni all the way to Byron Pl. and fixed the wonky street grid. Oh well.

Actually, that's not all... caught myself in the nick of time... but I'll add my own comment.

"Posted yesterday, this project has a good distance to go and much could change between now and groundbreaking. You can, at least, get some sense of how they plan to orient the buildings including retail to a common area. They have proposed over 55K Sq Ft of retail space."

[Cirrus]

Originally Posted by TakeFive

What do these two apartments have in common?

Now you know what I've been up to lately.

Originally Posted by TakeFive

Nice looking; nice area; what's not to like?

The "SOUTH PEARL" sign on the side, lol. Seriously though, great-looking building.

[TakeFive]

Side Pocket Topics

Humpty Dumpty sat on a wall
Humpty Dumpty had a great fall
All the king's horses and all the king's men
Couldn't put Humpty together again

Is it true that steel (rebar) can expand when it gets a headache?

Now that we know that buildings can and do collapse following the tragedy in Surfside, Florida (near Miami) how many more Humpty Dumpty buildings are out their would you guess?

Specific to Denver
any thoughts on what might be a 'collapsible' building? Any favorite picks for buildings you'd like to see imploded before they fall down?

---------------------------
Didn't take Colorado's new Governor and Legislature long to start getting a national reputation

Major companies ask Colorado residents not to apply for remote positions
Jun 19, 2021 - Economy & Business - Axios

Major companies have said in recent job postings that Colorado residents are ineligible to apply for certain remote positions because a new state law requires businesses to disclose the expected salary or pay range for positions, according to the Wall Street Journal.

The big picture: Businesses have argued that the wage disclosure law is overly burdensome for employers, while the state's labor department is investigating complaints of postings excluding Coloradans.

So has Colorado now become so elite that being business friendly is not necessary?

[TakeFive]

Reading Tea Leaves and Speculating

"We have a deal!" - Joe Biden
Using CNN for a source

A) Funding for roads and bridges - $109 billion

• Should be enough to untangle the I-70 Floyd Hill mess
• Needed funding for the NoCo I-25 improvements
• Funding for Pena Blvd improvements

B) Money for transit, airports - $49 billion for public transit, $66 billion for rail, $25 billion for airports

Bus Rapid Transit in order of priority

1. East Colfax
2. Boulder-Longmont Diagonal
3. Federal Blvd

DEN Airport

• Funding for the Great Hall renovation and Security improvements

C) Improving water and power systems - $55 billion would be invested in water infrastructure and $73 billion in the nation's power structure. Some of this money would be used to eliminate the nation's lead service lines and pipes.

Denver Water & City of Denver

• Accelerate the existing lead pipes replacement
• Accelerate the schedule for drainage improvements

Xcel Energy et al

• Accelerate renewable energy plan and retirement of coal facilities

D) Broadband investment - $65 billion

E) Electric vehicle investment - $7.5 billion

• Another $7.5 billion would go toward making thousands of school and transit buses electric.

Betting Odds
Despite a slew of reasons why this might not succeed in getting passed, I'm putting the odds at 70% chance of it passing.

Originally Posted by Cirrus

Now you know what I've been up to lately.

The "SOUTH PEARL" sign on the side, lol. Seriously though, great-looking building.

Guess I misjudged you (again). I figured you were up to no good.

[Sam Hill]

Originally Posted by TakeFive

Side Pocket Topics

Humpty Dumpty sat on a wall
Humpty Dumpty had a great fall
All the king's horses and all the king's men
Couldn't put Humpty together again

Is it true that steel (rebar) can expand when it gets a headache?

Now that we know that buildings can and do collapse following the tragedy in Surfside, Florida (near Miami) how many more Humpty Dumpty buildings are out their would you guess?

Specific to Denver
any thoughts on what might be a 'collapsible' building? Any favorite picks for buildings you'd like to see imploded before they fall down?

The odds are literally far greater that I will be struck by lightning than get crushed in a collapsed building; nevertheless, this news from Florida (why does the weirdest shit always happen in Florida?) does have me a bit paranoid about how well this ugly old mid-century high-rise - on the 9th floor of which I and my wonderful (yet very heavy) record collection reside - is holding up.

I’m posting this from my balcony where I’m currently engaged in my Saturday-morning coffee ritual. But this Saturday morning feels a bit different. I’m just now noticing my balcony does have a bit of a lean to it. Hmmmmm.

[wong21fr]

Originally Posted by TakeFive

So has Colorado now become so elite that being business friendly is not necessary?

Eh. I don't buy that wage disclosure is an overly burdensome requirement for an employer, but it does remove a transparency barrier in the salary negotiation process by giving workers more information on compensation. Which ultimately will likely lead to a general rise in industry salaries as low-ball companies are more easily identified.

Though I can see an impediment to companies if they are offering geographic specific salaries if they cannot provide salary ranges only once the prospective employee is applying.