DENVER | Main Development Thread #7

[BG918]

Re: 2950 Arkins Court - will this replace the Salvation Army Crossroads Center at 29th & Arkins? Or is it just on the empty lot to the north?

[TakeFive]

Speaking of 15th Street and Reminiscing

Originally Posted by Brainpathology

I saw that building and the rest of 15th street last week. I really love it. Even though I had to get downtown to see the building due to its height (or I had the wrong angles). The entire 15th street street wall is so much more impressive now and since 10-20 odd years ago.

Block 162 turned out well; it looks really nice in context of the surrounding buildings.

Gather 'round; I'll tell ya a story about 1490 Delgany

This story of this apartment which sold recently goes back a decade. For a fun, fun historical perspective, check out Ken's DenverInfill New Project post from April of 2012. Ken provides a great historical perspective of 15th street.

Downtown Denver’s 15th Street is one of the city’s most historic streets, as many of Denver’s first commercial structures were built around 15th and Larimer in the 1860s.

15th Street extends exactly 1.75 miles from W. Colfax Avenue in Civic Center to the grid-transitioning intersection at W. 29th Avenue, Boulder, and Umatilla streets in Lower Highland.

The view today down 15th Street from LoDo towards the Highlands, with Asbury Methodist Church centered above the street at the top of the hill, is one I never tire of taking in.

This was a favorite project of mine - at that time (I like the quirky Delgany name).

The Verve (originally)
1490 Delgany Street






Images via Trulia

LoDo apartment building overlooking Museum of Contemporary Art sells for $138M
Sep 27, 2021 By Jensen Werley – Reporter, Denver Business Journal

The 10-story apartment building, formerly known as Verve, at 1490 Delgany St., sold on Sept.24... That buyer's address matches Griffis Residential, a Denver-based multifamily real estate investment company.

The approximately 232,000-square-foot building was last sold in July 2014 for $94.75 million, according to property records. The seller at the time was Amstar, the Denver-based real estate investment manager that developed the building in partnership with Minneapolis-based The Opus Group

The march of time and values.

The price for the sale works out to be approximately $484,210 per unit. When the building sold in 2014, the sale price was around $332,456 per unit.

So the project appreciated 45% from 2014 to today. The cost per unit today of $484,000 is amazing. No wonder Denver feels unaffordable to many.

This

Originally Posted by BG918

Re: 2950 Arkins Court - Or is it just on the empty lot to the north?

[TakeFive]

In the News: Office buildings

Schnitzer West

The Current


Courtesy of Davis Partnership Architects/Schnitzer West

"Oh Canada" - The Current office project at 3615 Delgany St. which recently went under construction secured financing to enable completing the project according to Mile High CRE

Schnitzer West and Craft Companies, LLC a Denver-based, multi-directional real estate firm, have secured $76.97 million in funding from Canada’s Otera Capital, for the completion of The Current, River North, a 12-story Class-A office tower development in RiNo.

“This is the first construction loan Schnitzer West has executed with Otera Capital,” said Kyle Flippen, development manager with Schnitzer West. “We’re excited to start this new relationship with Otera as we continue to invest in the Denver market and deliver Class-A office space to the RiNo neighborhood

Civica Cherry Creek



https://www.bizjournals.com/denver/news/2021/09/28/civica-cherry-creek-sold-for-108-million.html

Civica Cherry Creek, a seven-story Denver office building, has sold for $108 million, according to Denver property records.

The Cherry Creek North building, located at 250 Fillmore St., was purchased on Sept. 27 by MEC Fillmore Cherry Creek LLC, an entity associated with the institutional asset management business of financial services giant MetLife Inc. The seller is listed as Civica Office LLC, an entity associated with Schnitzer West.

No tenants? No problem

The Hub North



https://www.bizjournals.com/denver/news/...arallon-the-hub-north-denver-office.html

The Hub North, a recently completed, eight-story office building in Denver’s River North Art District, has traded hands for $40.5 million. Real estate investment firm Eagle Point Capital Partners purchased the property through a partnership with Farallon Capital, the company announced Thursday.

The deal marks Eagle Point’s first acquisition in Denver. The firm, which has offices in Los Angeles and Nashville, focuses on acquiring and developing office properties “in high-growth, technology-anchored innovation markets,” according to its website.

There are currently no tenants in occupancy at The Hub North, Vouvalides said.

This last deal resulted from a nice marriage. Obviously an empty office building doesn't sell for as much as one leased up. It was an opportunity for a group which both develops and buys to enter the Denver market with a nicely built and well located new building. The Seller pays off the construction loan, pockets (some) profit and moves on.

Note: Given other properties that have also sold recently it seems there is still ample money for acquiring mid-sized projects.

[Passportphoto]

30-story residential buildings planned after Golden Triangle zoning change By THOMAS GOUNLEY | BusinessDen
PUBLISHED: September 30, 2021 at 6:00 a.m. | UPDATED: September 30, 2021 at 6:05 a.m.

A Denver-based development firm is looking to take advantage of a recent zoning change that paved the way for taller buildings in the Golden Triangle.

Urban Villages submitted concept plans to the city earlier this month proposing two structures — one at 1149-1199 Bannock St. and one at 1115 Acoma St. — that would be 30 stories and 325 feet tall.

https://www.denverpost.com/2021/09/30/30...ned-after-golden-triangle-zoning-change/

[bunt_q]

Originally Posted by Brainpathology

Too bad there isn't a way to bring this bridge up for non-consensual historic preservation. I wonder how many people would change their feelings on that process if progress was halted around the city that actually impacts more than the adjacent homeowners very slightly.

(probably not many - as I believe the people taking advantage of that process are a small minority - similar to other populations that practice non-consensual activities)



I saw that building and the rest of 15th street last week. I really love it. Even though I had to get downtown to see the building due to its height (or I had the wrong angles). The entire 15th street street wall is so much more impressive now and since 10-20 odd years ago. There are strong feelings of irony for me that the block that was once the proposed Trango Tower (huge loss) and then for a completely regular looking 24ish story office building (meh would have barely been better than nothing) is now possibly going to be the last good empty parcel to be developed along that stretch.

Trango Tower. There's something I haven't heard or thought about for almost 20 years. Wow.

I thought that was behind the Pavilions on one of those one-third blocks? But who knows, I am getting old.

[i4isoar]

Originally Posted by Brainpathology

I saw that building and the rest of 15th street last week. I really love it. Even though I had to get downtown to see the building due to its height (or I had the wrong angles). The entire 15th street street wall is so much more impressive now and since 10-20 odd years ago. There are strong feelings of irony for me that the block that was once the proposed Trango Tower (huge loss) and then for a completely regular looking 24ish story office building (meh would have barely been better than nothing) is now possibly going to be the last good empty parcel to be developed along that stretch.

Originally Posted by bunt_q

Trango Tower. There's something I haven't heard or thought about for almost 20 years. Wow.

I thought that was behind the Pavilions on one of those one-third blocks? But who knows, I am getting old.

Now I'm also a little confused as well. For some reason, I always thought Trango Tower (and Reliance Tower before that) was to have been built on 162.

Either way, I agree: Block 162 was definitely a fantastic addition to 15th, together with the new facade they did for 930 15th and 1144 as well (which does a lot to hide that awful Brooks Tower from view ).

Originally Posted by Passportphoto

30-story residential buildings planned after Golden Triangle zoning change By THOMAS GOUNLEY | BusinessDen
PUBLISHED: September 30, 2021 at 6:00 a.m. | UPDATED: September 30, 2021 at 6:05 a.m.

A Denver-based development firm is looking to take advantage of a recent zoning change that paved the way for taller buildings in the Golden Triangle.

Urban Villages submitted concept plans to the city earlier this month proposing two structures — one at 1149-1199 Bannock St. and one at 1115 Acoma St. — that would be 30 stories and 325 feet tall.

https://www.denverpost.com/2021/09/30/30...ned-after-golden-triangle-zoning-change/

Excited to see these projects moving forward. Though the OCD part of me wonders why City Council made the height limit there 325ft when they could have made it a round number like 300 or 400 (or, hell, even 350 I would have been fine with. Something about 325 just seems wrong to me).

[Sam Hill]

Originally Posted by i4isoar

Now I'm also a little confused as well. For some reason, I always thought Trango Tower (and Reliance Tower before that) was to have been built on 162.

Either way, I agree: Block 162 was definitely a fantastic addition to 15th, together with the new facade they did for 930 15th and 1144 as well (which does a lot to hide that awful Brooks Tower from view ).



Excited to see these projects moving forward. Though the OCD part of me wonders why City Council made the height limit there 325ft when they could have made it a round number like 300 or 400 (or, hell, even 350 I would have been fine with. Something about 325 just seems wrong to me).

Call me weird but I like Brooks Tower. It’s dark, slender, and tall. Reminds me of the East Coast for some reason.

As for the 325’ thing, I think - in fact I know, because I was following it so closely - they were thinking in terms of stories. 325 feet is approximately 30 stories (for residential at least).

[Brainpathology]

Originally Posted by bunt_q

Trango Tower. There's something I haven't heard or thought about for almost 20 years. Wow.

I thought that was behind the Pavilions on one of those one-third blocks? But who knows, I am getting old.

Maybe I'm confused now. I thought it was slated for behind the pavilions too.. but that's alone 15th no? One of the oldest sets of proposals.. but still undeveloped.

I just reread my post... I missed a sentence I thought I typed about the fact that my hotel room overlooked the back of the pavilions right onto that block that Trango Tower was proposed on (I am also getting OLD). My post reads as if I did in fact claim that Trango was proposed for 162, which you're correct it was not.

[laniroj]

Originally Posted by Brainpathology

...There are strong feelings of irony for me that the block that was once the proposed Trango Tower (huge loss) and then for a completely regular looking 24ish story office building (meh would have barely been better than nothing) is now possibly going to be the last good empty parcel to be developed along that stretch.

There's a couple more than that, they're just not all easy parking lots.

- 15th/Stout - parking garage where tarantula's used to be and the south side next to Embassy Suites
- Trango lot and the other Brookfield lot to the east
- Lot north of Spire
- Both sides of Champa north of 15th (even if you love Sam's)
- Lot across from CCD building which I believe the Dikeou's own (so yeah, never gonna happen).

Granted most of these are better for residential because they wouldn't be able to support large floorplates, but a mass of residential in the City core is what Dtown has always been missing and LoDo, for better or worse, is essentially segregated from the core where most employment sits. Mixing up uses on the east half of dtown would be awesome....now if we can just fix 16th street (or get rid of it) so that can become a possibility...

Still plenty of opportunities along 15th, especially if Brookfield would do something with their two lots behind Pavilions - development on those would energize that side of dtown along 15th...

[TakeFive]

Infrastructure Investment and Jobs Act (2021) versus the American Recovery and Reinvestment Act (2009)

This should have been the week to send this year's Bill to President Biden for his signature; unfortunately the Democrats in the House can't stop spitting up on themselves.

This years Bipartisan Infrastructure Bill (Senate) is ~$550 billion in NEW Infrastructure Money for a projected total available funding over One Trillion dollars over the next five plus years.

I was curious to compare the difference between 2009 and today. The previous ARRA was a comprehensive package totaling ~$800 billion but the "Infrastructure" portion was only $105.3 billion versus this year's $550 billion. Focusing on Transportation; 2021 versus 2009:

Transportation

• $110 billion for roads, bridges and major infrastructure projects versus $27.5 billion in 2009
• $39 billion to public transit versus ~$8.5 billion in 2009
• Intercity rail (Freight & Passenger/Amtrak) $66 billion (not all funded) versus $9.3 in 2009

If you too are interested in the 5280 Trail



THEN this is the Pot of Gold you should focus on; no need for a city-wide vote if they are city discretionary grants. Denver 'should' get two bites at the apple for both City and County grants. For the 5280 Trail let's hope for something in the neighborhood of $40 million; that should fund a good chunk of the trail - understanding there are many other transportation priorities as well.

----------------
You may be underpaid?

Originally Posted by coolmandan03

Based on those numbers of City and County of Denver population, look like rates per person are going up

I recall reading somewhere how beneficial new construction is to city coffers which would help to explain the more than per capita increases.

[Cirrus]

Remember all the shouting matches about whether Trango Tower or the Miami Four Seasons was better? Well, we found out, didn't we

[Sam Hill]

I remember Trango Tower. I remember seeing these ridiculous renderings of some absurd shard reaching 1000’ into the sky. The idea of this bizarre, gigantic monolith straight out of 2001 A Space Odyssey actually getting built and towering over Denver was unthinkable to me. For a while there I actually thought it was a hoax. I’m not sure how serious that proposal ever actually was but, thank god that thing never got built.

[i4isoar]

Originally Posted by Sam Hill

Call me weird but I like Brooks Tower. It’s dark, slender, and tall. Reminds me of the East Coast for some reason.

Fair enough. For me, personally, it's the "East Coast" look that I dislike, but to each their own.

Originally Posted by Sam Hill

As for the 325’ thing, I think - in fact I know, because I was following it so closely - they were thinking in terms of stories. 325 feet is approximately 30 stories (for residential at least).

Ah, that makes sense. I still disagree with the outcome, but I can see where they're coming from.

Originally Posted by Brainpathology

Maybe I'm confused now. I thought it was slated for behind the pavilions too.. but that's alone 15th no? One of the oldest sets of proposals.. but still undeveloped.

I just reread my post... I missed a sentence I thought I typed about the fact that my hotel room overlooked the back of the pavilions right onto that block that Trango Tower was proposed on (I am also getting OLD). My post reads as if I did in fact claim that Trango was proposed for 162, which you're correct it was not.

Thanks for clearing that up. I dunno where I got the belief that the Trango would have been on 162, but I stand corrected now.

Originally Posted by Cirrus

Remember all the shouting matches about whether Trango Tower or the Miami Four Seasons was better? Well, we found out, didn't we

I wasn't around for those, but hearing about them now, they must have been something to watch.

Though the Miami Four Seasons looks pretty good (minus the awful parking section), I daresay better than the Panorama Tower that dethroned it as Florida's tallest, and I wouldn't mind it if someone just copied-and-pasted that design and built one here. Maybe if someone built the main tower portion, minus the parking section and the office-wing, on the Trango lot, and built a separate parking and office tower on the other Brookfield Pavilions lot (connected by skybridge to the main tower, and with the parking portion covered up by glass, like they did for 162 and 1144)... one can dream.

Originally Posted by Sam Hill

I remember Trango Tower. I remember seeing these ridiculous renderings of some absurd shard reaching 1000’ into the sky. The idea of this bizarre, gigantic monolith straight out of 2001 A Space Odyssey actually getting built and towering over Denver was unthinkable to me. For a while there I actually thought it was a hoax. I’m not sure how serious that proposal ever actually was but, thank god that thing never got built.

To be fair, given all the weirdly-shaped skyscrapers now being built all over NYC, China, the Middle East, or, hell, even in Austin, some might say Trango Tower's design was ahead of its time.

Though I do agree, it would have looked quite out-of-place and out-of-character for late 90's / early 2000's Denver (even the Miami Four Seasons would have looked much better on that site). I think that 650 17th (both the original 1000' proposal from a few years ago and the newer, downsized proposal) looks far better and more suitable for our city.

[TakeFive]

Trango Tower Diagrams: https://skyscraperpage.com/diagrams/?searchID=94690589

Reach for the Skyline
MAY 21, 1998 By Stuart Steers - Westword

Is Denver ready for an 86-story high-rise? A downtown Denver property owner is working on plans for the highest skyscraper ever built in the city...

"This would characterize the Denver skyline into the next millennium," says Scott Moore, a well-known local businessman who is pushing the project. "We want to make a significant statement for the Rocky Mountain West." Moore, a fifth-generation Coloradan... hired Rick Keating, a well-known Los Angeles architect, and asked him to design a tower that would relate to the Rocky Mountains and Colorado's geographic heritage.

Where was this jewel to be located?

The local 'scraper would be erected just behind the Denver Pavilions project now under construction on the 16th Street Mall. The rear third of the block behind the Pavilions, between Glenarm and Welton streets, is being reserved for the high-rise.

Where did Trango Tower come from?

Keating came up with a granite-clad, wedge-shaped building with a sloping roof. While tall, the building would be skinnier than other skyscrapers in Denver, forming a sheer wall along 15th Street. It is meant to evoke the famous Trango Tower in the Himalayas, a 3,000-foot pinnacle that attracts mountain climbers from all over the world. Moore's sons are avid climbers and scaled the mountain several years ago. The proposed building would be named Trango Tower in honor of the legendary formation.

Trango Tower Discussion page

Originally Posted by FrancoRey

Proposed in the mid-1990s to complement the Denver Pavillions retail and entertainment center in downtown Denver, Trango Tower was slated to become the tallest skyscraper in North America outside of New York City and Chicago. The Trango Tower, named after a sheer vertical rock formation in the upper reaches of Pakistan, would have become a new symbol for Denver. Rising at a height of possibly over 1,050 feet, Trango Tower would have made Denver the "third tallest city" in North America, allowing the Mile High City to surpass Houston's Chase Tower, Los Angeles' Library Tower and Atlanta's Bank of America Center to achieve for Denver a height only outdone by New York and Chicago.

Ironically, this is the same plot that was to house another Denver's 'New Tallest' back in the 1980's with the Reliance Center, and by the same developer. It seems that a taller skyscraper in the Mile High City, on this plot at least, will never come to pass...

Originally Posted by The Dirt

Ahh, the Gumby Tower! Very glad that we didn't get this monstrosity. What's up with the strange colors anyway? It's like they were trying to make it look funny.

Somebody mentioned Brookfield Properties



New Downtown Denver Project: 1501 Tremont Place
October 24, 2008 By Ken Schroeppel - DenverInfill

Brookfield Properties, owner of Denver’s tallest building, Republic Plaza, is moving forward with plans for a major new office tower, 1501 Tremont Place, located along 15th between Glenarm and Tremont behind the Denver Pavilions on Block 196.

[UrbanT]

Just drove down Brighton Blvd and the Do-It-Ur-Self Heating & Plumbing at 3100 Brighton Blvd is being demolished which would be where Steel House is to be built! Hoping that means construction is imminent. https://steelhousedenver.com

[Arapahoe]

Originally Posted by UrbanT

Just drove down Brighton Blvd and the Do-It-Ur-Self Heating & Plumbing at 3100 Brighton Blvd is being demolished which would be where Steel House is to be built! Hoping that means construction is imminent. https://steelhousedenver.com

speaking of demolition -- Rockfeller/Golub has submitted a demolition application for the Greyhound station downtown on September 29! Can't wait to see that old eye sore destroyed.

[DenvertoLA]

Thant's amazing. Did the Amacon excavation date come and go?

[SirLucasTheGreat]

I thought the most recent timeframe for Amacon groundbreaking was Q4 2021, which just started. I think there was an August DBJ article.

[Arapahoe]

Originally Posted by SirLucasTheGreat

I thought the most recent timeframe for Amacon groundbreaking was Q4 2021, which just started. I think there was an August DBJ article.

right. Also checked that their construction permit hasn't been issued yet, but looking at the processing status, almost everything is checked-off as completed so it should be forthcoming shortly.

[laniroj]

Originally Posted by TakeFive

Photo credit - Denver Infill
This brings back the feels! Too bad Brookfield is such a conservative investor. I doubt they'll ever do any new development in Denver...