DENVER | Main Development Thread #7

[twister244]

Originally Posted by Sam Hill

Denverites, who do you want on your council - those who exacerbate our housing crisis by resisting development, or those who at least try to alleviate it by encouraging development?

The fact is, the root of our problem - homelessness and all - is an imbalance of supply and demand in the housing market. I have no doubt. I don’t think the problem is as nuanced as people make it out to be. We’ve had recessions before. We’ve had crises before. But we haven’t had this problem of a great proportion of our population living in tents on our streets. This is new and weird, and wasn’t a pervasive problem 15 years ago - back when a 1-bedroom cost 600 bucks.

Yep...... These are all some of the reasons I look at Denver from a distance now and think it's possible I might not return. I just don't see these sorts of issues across large swaths of Chicago's North Side. Yes... Chicago has a TON of OTHER issues, but in addition to that, the prices for rentals and property here just aren't that bad anymore compared to Denver.

Maybe an inflection point will come soon and Denver will stop growing as people will simply cash out and move onto to other parts of the country like some in CA have done. Or maybe outsiders will stop flocking to Denver after taking a quick glance at Redfin.

[Arapahoe]

Amacon's little green fence is now completely closed off and no more parking allowed. Start of something big?

[SirLucasTheGreat]

I drove by the Amacon lot and it was closed. There was one abandoned looking white truck parked on some dirt but I do think that it is remarkable that their lot seems to be closed to paying customers. I feel like I sound a little weird trying desperately to find evidence to confirm my hopes that this thing will get going but it is probably the most significant tower project since Block 162.

[Arapahoe]

Originally Posted by SirLucasTheGreat

I drove by the Amacon lot and it was closed. There was one abandoned looking white truck parked on some dirt but I do think that it is remarkable that their lot seems to be closed to paying customers. I feel like I sound a little weird trying desperately to find evidence to confirm my hopes that this thing will get going but it is probably the most significant tower project since Block 162.

lol you me an both

[rds70]

Looks like the Avalon Governor's Park (7th and Sherman) project is about to start construction. Most of the construction documents were approved on Friday.

[TakeFive]

Source

Originally Posted by rds70

Looks like the Avalon Governor's Park (7th and Sherman) project is about to start construction. Most of the construction documents were approved on Friday.

Originally Posted by TakeFive

Governors Park
is now coming into focus. I am curious to see AvalonBay's architectural plans for a 13-story apartment at the southeast corner of East 7th Avenue and Sherman Street. I'm guessing they will use their Avalon brand which is upscale-sophisticated as apposed to the Ava brand they're currently finishing up at 2600 Lawrence Street. Ava RiNo will be a more of an eclectic-lifestyle brand. Of course a lot of the branding-quality comes from the finish on the inside, not the outside.

I like it fine; what do others think?

[Arapahoe]

I like it fine; what do others think?[/QUOTE]

I call it the "Denver Standard" apt block. Not terrible, but pretty generic.

[Ndj]

Ain't nothing wrong with vernacular architecture.

[coolmandan03]

Originally Posted by TakeFive

I like it fine; what do others think?

I thought it was a typo since it's almost the exact same building at 7th and Grant (1 block east of the proposed plan):

[The Dirt]

Looks like pretty much every Alexan than went up recently. I feel like 25% more glass on new buildings would be preferable but whatever. At this point, Denver is such a colossal 🞵🞵🞵🞵 show that I'd take a thousand of the worst looking Soviet era Warsaw buildings if it meant dropping rents by 5% and reducing the homeless population by 10. It would be preferable to what this council is doing, which is designating more and more historic neighborhoods that are full of single family mansions occupied by cranky old washed up architects and lawyers.

[MovinOnUp]

Unfamiliar w/ the process – wondering if or when we'll know anything about the purchase of 650 17th?

Keeping my fingers crossed that someone comes in and maximizes the potential of that parcel. Such a central location and chance to make an impact.

RIP to this iteration

[The Dirt]

I don't think any design iteration was beyond the concept/marketing phase. Until we see someone filing design permits, these are all going to just be pie in the sky.

[SirLucasTheGreat]

I thought that the Tower of Isengard design was included in a site development plan. Maybe it was just the concept phase. At any rate, I thought that the developers looking to build the 1,000 foot tower paid several installments to Buzz. I think there was also an issue where they would've needed to buy that little small parking lot behind Target that Buzz didn't actually own in order to make their design work. Anywho, that was a fun few months

[TakeFive]

Buyer and Seller; Neighbors and Friends

Originally Posted by coolmandan03

I thought it was a typo since it's almost the exact same building at 7th and Grant (1 block east of the proposed plan):

At least somebody's on the ball today.

Aspire 7th and Grant was built by the Dinerstein Companies. I think it was their 1st project in Denver and "Aspire" is their higher end branding. They've talked about doing more projects but not using the Aspire brand.

Ken/DenverInfill posted their 'new project' description in December of 2015. It is now August of 2021. Anybody care to guess the difference in land and construction costs between Aspire and Avalon Governor's Park. My guess is there's a 35% difference.

The DBJ posted the news of the sale of Aspire to Clarion Partners for $91 million which equates to $511,860 per unit. BTW, both Dinerstein Companies and Clarion Partners are headquartered in Houston.

Have I also not said that with apartments, demand is now a bit on the soft side? Per the Aspire website:

Waived App & Admin Fees and
New Reduced Rates!

As for the rest of you clowns... I'll have more to say later.

[Arapahoe]

Originally Posted by SirLucasTheGreat

I think there was also an issue where they would've needed to buy that little small parking lot behind Target that Buzz didn't actually own in order to make their design work.

JLL is now marketing both of those lots together -- so if that was a previous obstacle, it is not any longer.

[TakeFive]

Originally Posted by Arapahoe

JLL is now marketing both of those lots together -- so if that was a previous obstacle, it is not any longer.

Here's the Back Story.

[gopokes21]

Originally Posted by bunt_q

What are you talking about? I think you need medication. Or you might be confusing me with somebody else. I'm the guy who lives in one of the protected old single family neighborhoods; not planning on bulldozing them anytime soon.



Other than Golden Triangle, which I was very clear about. No, District 10 does not have much growth. Colfax has seen, what, a couple projects? Uptown, same, it's not like Uptown has changed overnight. Congress Park, Country Club, nada. And Capital Hill has nothing going on. There's growth coming around Governor's Park, but the most is yet to come. (Cherry Creek, while it looks like a lot, is mostly commercial. And in terms of square footage, it's not that much relative to, oh, one building downtown.)

I think both Councilwoman CdeBaca and Councilwoman Sandoval would take issue with any whining from folks in 10 about how hard Hinds has it. Districts 1 and 9 barely look like the same city they were 10 or 15 years ago. Now, I am not complaining about those changes, not one bit. But that is the development pressure that has folks up in arms across the City; that is why Fugly exists. It's not this imaginary surge of growth in Uptown, on Colfax, and in Cap Hill that has made Councilman Hinds' job managing the change of so difficult. Give me a break. Face it, he's a do-nothing on Council. And certainly isn't known for leading on the #1 issue in his district, which is the proliferation of homeless camps.

Watch redistricting. I bet 10 has to get larger to keep pace.

I will still take the medication, but I think I owe you an apology for mischaracterizing you as anti-historic preservation, since that's clearly The Dirt ^

District 10 is interesting because it's a matter of perception. A lot of smoke and mirrors. I can say there's growth everywhere because I see a ton of different development concepts making steady progress up and down Colfax, condos around City Park, Park Avenue especially, connecting CO Blvd to Cherry Creek, throughout Uptown and Golden Triangle, etc. You can say there's nada because what's really under construction? It takes 3-4 years to get entitlements on Colfax especially. It is the best of times, it is the worst of times...

[The Dirt]

Originally Posted by gopokes21

anti-historic preservation, since that's clearly The Dirt ^.

I'd preserve the Brown Palace Hotel or buildings that should have been preserved, like the Tabor Opera House any day. If not wanting to preserve every Sears catalog bungalow makes me anti-historic preservation, then so be it. We may as well preemptively preserve slot homes since they're going to be a unique slice of Denver architecture that was only allowed for a very limited period of time in our short history as a city.

[TakeFive]

We need more affordable places to live
Affordable for whom?
Affordable for everybody!
Since everybody wants to move out of downtown, living 'should' become more affordable.
Wait... Who's Everybody?
Calm down; I'm just kidding.

Let's check out a couple of different places to live.

1000 South Broadway


Source

South Broadway Apartments Sell for $90.5M
October 25, 2019 By Mile High CRE

Bascom Northwest Ventures, LLC has acquired 1000 South Broadway Apartments (“1000 South Broadway”), a 260-unit Class-A infill apartment community at 1000 South Broadway in Denver, for $90.5 million acquisition ($348,067/unit).

One bedroom units w/ 767 sq. ft. (which are nice-sized) rent for $1,750 per month and are offering (up to) $500 off move-in.

Aspire 7th & Grant (pictured up page)
recently sold for over $510,000 per unit. One bedroom units w/ 772 sq ft (same as 1000 S Broadway) are renting for $2,300 per month.

Given the difference in location and quality the difference in rents is understandable. What's interesting is that Aspire recently sold for almost 50% (47%) more per unit than 1000 So Broadway.

[wong21fr]

Originally Posted by The Dirt

I'd preserve the Brown Palace Hotel or buildings that should have been preserved, like the Tabor Opera House any day. If not wanting to preserve every Sears catalog bungalow makes me anti-historic preservation, then so be it. We may as well preemptively preserve slot homes since they're going to be a unique slice of Denver architecture that was only allowed for a very limited period of time in our short history as a city.

We probably should in order to preserve neighborhood character and as a vital example of 21st design ingenuity.