DENVER | Main Development Thread #7

[laniroj]

Originally Posted by chicago->denver

Those are good points. I posted earlier about how I do find GT to be a very walkable neighborhood for coffee, restaurants, bars, and groceries. That comment was more to say that as large scale housing projects continue to go up, I hope to see them include commercial space (it seems most of them plan to) in order to keep up with the population growth. GT seems behind other neighborhoods (Cherry Creek, LoHi, RiNo, etc.) in that regard, but you are correct that the level of commercial space is probably appropriate for the *current* population.

They don't "plan" to include retail, they are required to. Unfortunately GT isn't really a destination for retail like those other areas because it's not "cool". It probably could be if the neighborhood integrated better with the civic stuff in the NE corner, but it doesn't currently. Infill and urban retail, outside of the the true core areas, is really struggling mightily right now. We'll see how it all shakes out, but I side with TakeFive on this one and think there is a coming Pandemic hangover specifically for retail, which basically only survived the last couple years because of stimulus.

[TakeFive]

Originally Posted by mishko27

Thankfully, this is entirely in Denver proper, so GV won't get to ruin this. I am still bitter about Orchard/I25, especially as I live like half a mile from there. But I'm unincorporated Arapahoe county, surrounded by GV, so we did not get to vote on this.

You may be aware of much of this but I managed to find a more recent update on Alberta Development's latest proposal near Orchard Station in The Villager.

In review

https://villagerpublishing.com/is-whole-...n-hickey-building-on-orchard-road-in-gv/

...Alberta Development Partners, who bought the property in the spring of 2017 ... The company never submitted a development plan for the area to GV because of strong public opinion that mixed-use development should not be built in that vicinity.

So the type of development that makes the most sense in today's world is exactly what GV doesn't want?

Wouldn't nearby to a light rail station be a great spot for dense residential development?

After the dust settled, the new city council elected in November 2017 changed the city’s comprehensive plan to “strongly discourage” any residential construction in the Orchard Station area unless it was single-family homes,

Not sure how many remember the Marilyn Hickey Ministries which occupied a good-sized building and site but this was the primary piece from which Alberta was starting with.

Fast Forward

The new proposal is described on GV’s development activity map as including, “two free-standing buildings within the footprint of the existing single building – one new building at 40,000 square feet for a high-end retail grocery anchor, and a second building at 160,000 square feet for Class-A office space. Both buildings will include an associated underground parking structure and additional surface parking spaces.”

So a nice grocery store at least, eh?

Although Alberta representatives have steadfastly refused to name the proposed grocery store, one of the documents submitted to GV with the plan, and shown on its website of development activity, includes a reference to the “west side of the Whole Foods Building.”

An office building, really?

To the question, “Is office space needed in this market? Will mixed-use be considered?” ... the developer responded, The office market today is extremely difficult. The applicant would welcome the opportunity to develop much need residential housing but is restricted by the current zoning.”

It seems obvious that Alberta Development Partners is doing their best to try and monetize the land they bought given the various constraints.

Orchard Rd to the west

is one of the nicer streets in Greenwood Village to drive along; I get that part. IIRC, there's bike lanes along the road over to University Blvd. What I don't get is how they can't see that dense housing near the Orchard Station would be a totally different deal with no real impact on the street going west.

[mishko27]

Originally Posted by TakeFive

You may be aware of much of this but I managed to find a more recent update on Alberta Development's latest proposal near Orchard Station in The Villager.

In review

https://villagerpublishing.com/is-whole-...n-hickey-building-on-orchard-road-in-gv/

So the type of development that makes the most sense in today's world is exactly what GV doesn't want?

Wouldn't nearby to a light rail station be a great spot for dense residential development?

Not sure how many remember the Marilyn Hickey Ministries which occupied a good-sized building and site but this was the primary piece from which Alberta was starting with.

Fast Forward

So a nice grocery store at least, eh?

An office building, really?

It seems obvious that Alberta Development Partners is doing their best to try and monetize the land they bought given the various constraints.

Orchard Rd to the west

is one of the nicer streets in Greenwood Village to drive along; I get that part. IIRC, there's bike lanes along the road over to University Blvd. What I don't get is how they can't see that dense housing near the Orchard Station would be a totally different deal with no real impact on the street going west.

I like that the Villager is throwing shade at the City Council. Developing single family housing next to the Orchard Station makes absolutely no sense. The land itself is separated from the rest of the city - it's surrounded by office building, Orchard to the south, Quebec to the west, 25 to the east, and Belleview to the north. Landmark already exists and any future development would just be an extension of that - there is no "Village Character" there, it could have been a modern urban center. Greenwood Village could have had its own Belleview Station but they killed that.

I wonder if they'll kill Whole Foods now.

[TakeFive]

2024 will be here before you know it


Kimpton Denver Tech Center courtesy KGD Architects

https://www.hotelmanagement.net/own/kimpton-open-new-hotel-denver

Kimpton Hotels & Restaurants, part of IHG Hotels & Resorts’ Luxury & Lifestyle Collection, has signed a deal to open the first lifestyle hotel in the burgeoning Denver Tech Center neighborhood in early 2024. The Kimpton Denver Tech Center will be the boutique hotel brand’s third property in the city, joining the Kimpton Hotel Monaco in Downtown Denver and Kimpton Hotel Born in Union Station.

Owned by DTC Hospitality Investors, and developed by Cypress 16 in conjunction with McClurg Century Investments, Kimpton Denver Tech Center will be a new-build boutique hotel with 190 guestrooms, including 14 suites. KGD Architecture will serve as the property architect and Karamann will oversee the hotel’s interiors. Harvey Cleary Builders will serve as the general contractor for the construction of the project.

[mishko27]

Originally Posted by TakeFive

2024 will be here before you know it


Kimpton Denver Tech Center courtesy KGD Architects

https://www.hotelmanagement.net/own/kimpton-open-new-hotel-denver

This is great news, another decent restaurant, and a rooftop bar, will make Belleview Station even more attractive. Anyone knows what happened to the hotel by Stonebridge that was supposed to replace the Extended Stay motel?

[TakeFive]

Someday Down the Road

Originally Posted by mishko27

I like that the Villager is throwing shade at the City Council. Developing single family housing next to the Orchard Station makes absolutely no sense. The land itself is separated from the rest of the city - it's surrounded by office building, Orchard to the south, Quebec to the west, 25 to the east, and Belleview to the north. Landmark already exists and any future development would just be an extension of that - there is no "Village Character" there, it could have been a modern urban center. Greenwood Village could have had its own Belleview Station but they killed that.

I wonder if they'll kill Whole Foods now.

Most of the real estate within the area you outlined could easily be redeveloped some day. I had the privilege of knowing many of the developers of the original office buildings built back in the 1980's. I have no doubt that 'some day' this will happen.

I digress

It used to be that Scottsdale was the business address to have. Not that it has gone out of style but the new urban infill in Tempe is decidedly the hot new address.

Check out this view. If you can't read the signage on the building in the center that is the Silicon Valley Bank next to Morgan Stanley which is next to KPMG. It doesn't get more prominent than that.

When I take a Pax (Uber paying customer) to or from Sky Harbor Airport along the (202) freeway people can't help but notice this new lakeside office development.

There is also plenty of residential urban infill in Tempe but it is located nearer to the iconic Mill Street area and/or along the light rail which is where a new Westin is located. Come Spring there will be a Street Car that connects the two areas. Here is the new Tempe Westin.

Looking down the road

The areas on both sides of I-25 between Belleview and Orchard have tons of redevelopment potential. I don't doubt that some day this will happen but I'd expect more of a mixed-use, mid-rise redevelopment when it happens.

[laniroj]

Originally Posted by mishko27

I like that the Villager is throwing shade at the City Council. Developing single family housing next to the Orchard Station makes absolutely no sense. The land itself is separated from the rest of the city - it's surrounded by office building, Orchard to the south, Quebec to the west, 25 to the east, and Belleview to the north. Landmark already exists and any future development would just be an extension of that - there is no "Village Character" there, it could have been a modern urban center. Greenwood Village could have had its own Belleview Station but they killed that.

I wonder if they'll kill Whole Foods now.

My vote is Alberta sells the land to the GSA, then the GSA can lease it back to Alberta. Being that the federal government is exempt from local zoning, they could allow Alberta to build whatever they want. My suggestion is Alberta build 800 units of affordable housing in a 60-story tower. The building can have two wings on either side of parking and a giant tower in the middle representing a middle finger. The top 5 stories of the structure will have a glazed glass to represent the top of the fingernail.

This is, of course, a nuclear option, but local governments have become so problem-some and property rights so encumbered, that I now favor this approach and my libertarian self would be 100% in favor of the federal government over-stepping it's bounds like this to achieve a housing equilibrium.

[TakeFive]

This may be the most important post-new information recently on this site

Originally Posted by Curtis Park

Edens building in RiNo
https://businessden.com/2022/02/08/edens...lock-after-striking-deal-with-nonprofit/

"Edens has proposed multiple five-to-seven story buildings on the block formed by Larimer and Lawrence streets, and 26th and 27th avenues, according to documents submitted to the city.

The bulk of that block is owned by the Volunteers of America Colorado. But Edens is under contract to buy the real estate from the nonprofit, with the exception of the corner office building that serves as VOA’s headquarters."

I've been to a few of Edens' presentations and have chatted with Tom Kiler about the plans. This is going to be a major improvement for the neighborhood. They are really doing a lot of work to make it a great destination and pedestrian-friendly. The Curtis Park RNO is supporting it as is the Rino RNO. Of course, there are a few people upset about the traffic, and how everything is changing.
I guess they need approval since zoning isn't quite what they need and they plan to do a PUD. Not sure what that is but I hear it's a good thing.
The neighbors that are complaining don't understand that if Edens doesn't get approval, they will just build a big box like Ava Rino that does not offer anything like they are planning. Or they will sell it to someone who will.

I realize Edens hasn't gotten that much attention (although I've posted about them previously) since they haven't yet been about new development projects.

But what Curtis Park posted will turn out to be one of the most important developments for Curtis Park / RiNo. This proposed development will turn out to be a fulfillment of Edens' ambitions for becoming the new Retail Hotspot for this rapidly changing area. This will be hugely important and impactful.

The downside to this upside

This is not likely to make life any easier for the 16th Street Mall or even other retail areas. But once the Mall is redone I trust that it will find a way to survive and thrive. And as downtown continues to grow it's residential population there will be enough demand to spread around PLUS the 16th Street Mall should continue to be the Number One tourist attraction.

Hilarious; I love this

Originally Posted by laniroj

My vote is Alberta sells the land to the GSA,

[Denver]

New small project 3354 Larimer in Rino:



The developer is Narrate Denver

[SirLucasTheGreat]

That looks cool!

[TakeFive]

Yet another feather in their cap

Originally Posted by Denver

New small project 3354 Larimer in Rino:



The developer is Narrate Denver

Although smaller in scale, Narrate has developed a nice portfolio of projects including 1250 So Pearl which we previously fell in love with.

[TakeFive]

Well, it's about damn time


A rendering of Clark's Market, courtesy of Confluent Development.

Groundbreaking: Clark’s Market at Exchange at Boulevard One in Lowry
February 23, 202 - Mile High CRE

Colorado-based Clark’s Market has made its official entrance into the Denver Metro market, as the grocery anchor of the 175,000-square-foot Exchange at Boulevard One mixed-use redevelopment. Denver-based project partners and co-developers Confluent Development and Kelmore Development will celebrate the groundbreaking on Thursday, Feb. 24 with a commemorative shovel toss.

This is interesting Re: the funding angle.

The collaborative project is supported by the Denver Urban Renewal Authority and Lowry Redevelopment Authority. Open Studio Architecture serves as the project architect and Howell Construction is the builder.

“Confluent is pleased to fulfill our promise of welcoming a Colorado-born, family-owned specialty organic grocer to this unique, modern neighborhood,” said Nick Kitaeff, senior development director at Confluent Development. “Clark’s Market is the perfect complement to enrich the Exchange at Boulevard One and we look forward to bringing the mountain experience into the homes of the Lowry community.”

When will the doors open for business?

The store’s completion and grand opening are planned for early 2023.

[TakeFive]

Not too bad, apparently

Originally Posted by TakeFive

This was my next question

How is the Dairy Block doing?

https://www.loopnet.com/Listing/1800-1890-Wazee-St-Denver-CO/19680328/

Dairy Block @ 1800-1890 Wazee St
11,425 SF of 4-Star Retail Space Available in Denver, CO

• 1st Fl, Ste Retail B - 1,301 SF
• 1st Fl, Ste Retail K - 3,156-5,062 SF
• 1st Fl, Ste Retail M - 1,906-5,062 SF

PROPERTY OVERVIEW

Denver's hottest mixed-use project featuring 15 boutique shops, 19 restaurants, 7 bars, 9 luxury co-working spaces, and a 172 room boutique hotel. This building presents an outstanding opportunity for craft/boutique retail, restaurant, and entertainment operators. Diverse spaces are available with loads of character featuring exposed brick, hardwood floors, open ceilings, and exposed ducts.

Sounds like a modest amount of retail space available.

[rds70]

A rendering of the proposed tower planned for 650 17th Street:



Per BusinessDen, Greystar is the proposed developer and the architect is Ziegler Cooper. 342 units are proposed. 573 feet in height.

[SirLucasTheGreat]

I think that is a beaut. Hopefully, WWIII doesn't stop it

[TakeFive]

Question: Who is Bob Faith?

Originally Posted by rds70

A rendering of the proposed tower planned for 650 17th Street:

Per BusinessDen, Greystar is the proposed developer and the architect is Ziegler Cooper. 342 units are proposed. 573 feet in height.

Bob Faith

Robert Alan Faith (born 1963/1964) is an American businessman, and the founder, chairman and chief executive officer (CEO) of Greystar Real Estate Partners.[2]

Interestingly, Bob grew up in Oklahoma receiving his Petroleum Engineering degree from the University of Oklahoma. With few jobs available in this field when he graduated he went off to Harvard for an MBA.

Career

Faith started his career at the Trammell Crow Company, a real estate development firm[3] where he eventually became a partner.[6] In 1991, he co-founded Starwood Capital Group with Barry Sternlicht,[4] a classmate from Harvard. The company focused on acquiring foreclosed multifamily properties in the aftermath of the savings and loan crisis.

In 1993, Faith founded Greystar in Houston, Texas

Ziegler Cooper's headquarters is in Houston. Greystar's headquarters is in Charleston, SC.

Who knows where the funding will come from; it could come from anywhere in the World.

[wong21fr]

Originally Posted by TakeFive

Who knows where the funding will come from; it could come from anywhere in the World.

Asides from Russia.


Kidding aside, here's the article:

Greystar wants to make its mark on the downtown Denver skyline.


The South Carolina-based developer submitted a concept plan to the city earlier this month proposing a 47-story apartment tower at 650 17th St.
The parking lot at the corner of 17th and California streets is one of downtown’s most prominent development sites. It gained a high profile in 2018 when a New York firm submitted plans for an 81-story tower at the site, which is zoned for unlimited height. But the firm’s deal to buy the land from parking lot baron Buzz Geller fell apart.

Geller ultimately sold the 0.57-acre lot in 2019 for $17.5 million to Harbinger Development, a firm based in the Boston area. Harbinger put the property back on the market last year for an unspecified amount. Harbinger head Eamon O’Marah didn’t respond to a request for comment Wednesday.
Greystar didn’t respond to questions as of press time. The company is one of the country’s largest developers of apartments, and owns numerous complexes in the Denver area. Recent projects include Parq on Speer in the Golden Triangle and The Pullman at 1959 Wewatta St., which Greystar sold last year.

Greystar’s proposed 650 17th St. tower would be 573 feet tall, according to the concept plan. That would make it the city’s sixth-tallest building.
The tower would have 342 apartments on floors 11 through 47, according to the plans. The 10th floor would feature a gym and clubhouse, and the 1st floor would have a leasing office and lobby as well as some retail space.
The second through 10 floors would be a parking garage with 416 spaces.

The building would have a footprint of approximately 23,000 square foot, which would slim down to about 13,500 square feet starting on floor 11, and narrow further to about 10,000 square feet from floor 37 on up.
The lower floors would each have about 14 apartments, averaging 793 square feet, according to the plans. The unit count would gradually decrease higher up in the building; the penthouse level would have three units averaging 2,633 square feet.
Concept plans are the earliest stage of development plans that are submitted to the city. A city spokeswoman noted that Greystar’s proposal has yet to be reviewed, let alone approved, and could change significantly.
Houston-based Ziegler Cooper Architects is the architect listed on the project plans.

Two other major residential projects have been proposed for the downtown Denver core.

Vancouver-based Amacon plans to build a 461-unit condo project along Glenarm Place between Broadway and 18th Avenue. It would feature two towers, one 38 stories and one 32 stories, atop a shared podium. And San Antonio-based Kairoi Residential revived plans last year for a 36-story apartment tower at the corner of Speer Boulevard and Market Street.

[SirLucasTheGreat]

I think 990 Bannock has officially broken ground

[DenvertoLA]

level up! that tower is nooice

[rds70]

Originally Posted by DenvertoLA

alright bets on if these are condos or apartments. Has that info been released ?

Greystar is an apartment developer.