DENVER | Main Development Thread #7

[DenverInfill]

https://denverinfill.com/2018/12/new-project-26th-alcott.html

[kemachs]

A smidge of (added) neighborhood retail along 26th would've been nice - big group of potential patrons right there.

[Arapahoe]

Originally Posted by DenverInfill

https://denverinfill.com/2018/12/new-project-26th-alcott.html

quite the comment thread on that one!

[TakeFive]

Couple of interesting things....

Site of planned 15-story project near downtown Denver sold to another development firm
Jun 28, 2021 By James Rodriguez – Reporter, Denver Business Journal

The sale of this site from Tessler Development to Grand Peaks included the architectural plans from OZ. Tessler originally had different architectural plans for the site but decided he didn't like them so he started from scratch with OZ Architecture. I can remember Yitzchak Tessler bragging that his new plans provided a window in every unit. Tessler's original plan was to sell ~two-thirds the units as condos.

Exactly

Originally Posted by DenverInfill

https://denverinfill.com/2018/12/new-project-26th-alcott.html

Recall the construction equipment sitting on this site for years?

This is not the first project proposed by Tessler for their Jefferson Park property. On July 21, 2015, Tessler submitted a site development plan to the city for a similar project that would have included 734 for-rent apartments in a 15-story building. In 2016 in preparation for the start of construction, Tessler razed the existing buildings on the property (a residential duplex at the corner of 26th and Bryant and La Loma Restaurant on 26th) and moved some construction equipment onto the site. But then Tessler decided to scrap that particular concept and start over.

Note the odd wording in the release

https://milehighcre.com/denvers-largest-...ommunity-breaks-ground-near-sloans-lake/

Metro Denver’s largest for-rent high-rise apartment and hotel development broke ground last week...

Especially this:

Additional project partners include boutique apartment-hotel hospitality company Sonder, Confluence landscape architecture, Fortis Structural, BG BuildingWorks for MEP, and Kimley Horn for civil engineering.

Sonder (see website) explains the "hotel" segment of the project. But are all these entities also taking an equity position/interest (if small) in this project. Is this how they managed to secure funding?

[laniroj]

Originally Posted by TakeFive

[SIZE="3"]
Especially this:

Sonder (see website) explains the "hotel" segment of the project. But are all these entities also taking an equity position/interest (if small) in this project. Is this how they managed to secure funding?

I suspect Sonder merely master-leased their block of units which will be separate from the rest of the project (maybe they have their own floors). Some multifamily landlords have gone down the path of the airbnb master-lease model with companies like Sonder. They probably lose some rent in the long run but in the short term they de-risk a tranche of units and get the $$$ flowing sooner. Good model for the merchant builders just trying to cover their overhead and move on to the next deal...

[Arapahoe]

I was perusing the Golub/Rockfeller docs for the Greyhound station demolition and noticed their proposed timeline was to have demolition completed by Jan 2022! Obviously, that won't happen because they just submitted the demo permit application last month - but possibly demolition begins this year. Bye, bye eyesore. The following diagram is from the issued Erosion Control permit on 8/31/2021.

[The Dirt]

I'm surprised no-one's submitted a hostile historic designation for the Greyhound parking garage. I figured there are enough people with strong enough nostalgic feelings to make it everyone's problem.

[SirLucasTheGreat]

What do people here think is more likely to happen between the Greyhound redevelopment, Amacon, or 19th and Lawrence? Those are all massive projects along the same corridor

[Arapahoe]

Originally Posted by SirLucasTheGreat

What do people here think is more likely to happen between the Greyhound redevelopment, Amacon, or 19th and Lawrence? Those are all massive projects along the same corridor

Probably Amacon will be first to cross the ground breaking finish line. They own the land, their approvals & permits are very far along and they already completed demolition of the prior structure. They've also established a Denver office and have been speaking to the press about groundbreaking this year.

19th Lawrence hasn't applied for construction permits or has an approved SDP and the land is still "under contract" with Geller. They are talking early next year, but I think that is optimistic.

Greyhound block is just starting demolition permits now, however, GORO did buy the land outright. No definitive site development plan other than a very high-level two 400ft towers and a plaza, so a lot of permitting and approval work ahead. That could change really fast given Golub & Rockfeller has a track record with massive development projects in Chicago and New York and probably the financial backing to move when they are ready to move.

[seventwentyone]

Originally Posted by The Dirt

I'm surprised no-one's submitted a hostile historic designation for the Greyhound parking garage. I figured there are enough people with strong enough nostalgic feelings to make it everyone's problem.

Stop giving me bad ideas, man. I'm gonna do this.


How I will make the Greyhound station stay forever

To qualify as a Denver landmark, a structure must maintain integrity, be at least 30 years old or be of exceptional importance, and meet at least three of the following ten criteria:

. . .

B. Have direct and substantial association with a recognized person or group of persons who had influence on society;

. . .

G. Promote understanding and appreciation of the urban environment by means of distinctive physical characteristics or rarity;

H. Represent an era of culture or heritage that allows an understanding of how the site was used by past generations;

I. Be a physical attribute of a neighborhood, community, or the city that is a source of pride or cultural understanding;

J. Be associated with social movements, institutions, or patterns of growth or change that contributed significantly to the culture of the neighborhood, community, city, state, or nation.

I think I can BS my way through with these ones: The former Greyhound Bus Terminal is a celebration of mid 20th Century transportation, demonstrates how Denver connected itself to the world by allowing people from all walks of life to connect to and understand one another, and losing it would mean we wouldn't know how bus travel used to work, creating a great cultural loss while promoting inadvertent cultural misunderstanding.

[Arapahoe]

Originally Posted by seventwentyone

Stop giving me bad ideas, man. I'm gonna do this.


How I will make the Greyhound station stay forever




I think I can BS my way through with these ones: The former Greyhound Bus Terminal is a celebration of mid 20th Century transportation, demonstrates how Denver connected itself to the world by allowing people from all walks of life to connect to and understand one another, and losing it would mean we wouldn't know how bus travel used to work, creating a great cultural loss while promoting inadvertent cultural misunderstanding.

funny. Believe it or not every demolition does require a landmark designation review and the Greyhound station had one as well. It was deemed no potential designation by the city in a mere 10 days after submission. That was easy!

[Arapahoe]

Originally Posted by Arapahoe

Probably Amacon will be first to cross the ground breaking finish line. They own the land, their approvals & permits are very far along and they already completed demolition of the prior structure. They've also established a Denver office and have been speaking to the press about groundbreaking this year.

Looks like Amacon got their final city approval this week. Shoring and Excavation permits will likely be forthcoming!

[SirLucasTheGreat]

That's exciting! I remember having a drink at Shelby's before that was closed in 2019. Hopefully, this will get started. I think it is the tallest condo building since the Four Seasons or Spire if you don't count the Four Seasons.

[wong21fr]

Didn't someone say that the Marriott project at 14th & Stout had resumed permitting activity earlier this year? I was just looking at the ePermit site and couldn't find anything that indicated activity within the past 18 months.

[Denver]

Not sure if this has been posted yet but below is the updated proposal for 235 Fillmore St. BMC now controls the site so I think there is a good chance of this moving forward.

[Agent Orange]

Point towers in Cherry Creek. Tired of this short stubby tabletop cluster. Would be sweet to have a mini Buckhead type skyline there.

[Arapahoe]

Originally Posted by wong21fr

Didn't someone say that the Marriott project at 14th & Stout had resumed permitting activity earlier this year? I was just looking at the ePermit site and couldn't find anything that indicated activity within the past 18 months.

I didn't say it, but I see they are working on their site development plan this past summer (updates posted in August of this year) A few aspects of that SDP required re-submissions which are still pending. You can't really get anywhere with building permits until your plans are approved by the city and they still have a ways to go on that front.

[SirLucasTheGreat]

Yeah Cherry Creek could've gone more vertical. As far as secondary skylines though, there's a bunch of stuff in the works at the Belleview Station at DTC and then 38th and Blake. If these 30 story buildings get built in GT near the Evans West School, GT will have a more distinct skyline although they are so close to downtown that it might just look like a continuation of the CBD.

[TakeFive]

Did you say a new forty-story or four-story Speculative office building?

Actually, it's a new five-story but nobody will quibble over one story.

2926 Umatilla Street


Rendering courtesy of BOSS Architecture via Mile High CRE

https://milehighcre.com/five-story-speculative-office-project-coming-to-lohi/

2926 Umatilla, LLC, an entity of Generation Development, is developing a speculative office building located at 2926 Umatilla Street in the LoHi neighborhood of Denver. The planned five-story property will be situated on a small infill lot formerly used for parking. Generation Development acquired the site in late 2018 and construction on the project will begin shortly with completion by Q4 2022.

Have we secured funding for this project?

Parkview Financial provided an $8.7 million construction loan for the project. The loan was arranged by Los Angeles-based George Smith Partners and the project architect is BOSS Architecture of Denver.

These smaller 'boutique' OB's can be very nice but I have to be curious about how well this works out?

The building will total 32,734 square feet and will include underground parking for 30 cars via a stacked mechanical parking system

Originally Posted by wong21fr

Didn't someone say that the Marriott project at 14th & Stout had resumed permitting activity earlier this year? I was just looking at the ePermit site and couldn't find anything that indicated activity within the past 18 months.

Word on the street is that the Honorable Mayor Michael B. Hancock was looking at this site as possibly ideal for transitional housing for the homeless.

[wong21fr]

Originally Posted by Arapahoe

I didn't say it, but I see they are working on their site development plan this past summer (updates posted in August of this year) A few aspects of that SDP required re-submissions which are still pending. You can't really get anywhere with building permits until your plans are approved by the city and they still have a ways to go on that front.

I thought the SDP was already approved. Didn’t they file for excavation and shoring permits back in February of 2020?