DENVER | Main Development Thread #7

[TakeFive]

As often the case I suspect it's a matter of context

Originally Posted by laniroj

My comment moreso speaks to the direct link between lane widths and speeds and how those two factors contribute to pedestrian/cyclist safety. Larger lane widths which, like electrical and fire equipment, are always growing in size and are directly contributing to unsafe pedestrian/cyclist conditions. Larger lane widths directly correlate to higher vehicle speeds and pedestrian/cyclist deaths. It's funny because a partial driver of road widths is the fire department and we probably induce more deaths via road widths than we would otherwise suffer from structure fires supposing we had "inadequate" lane widths (if you asked the fire department).

I spend a lot of time on Collector Streets (as well as arterials) which are generally one lane in each direction.

Source:

Collectors
are major and minor roads that connect local roads and streets with arterials. Collectors provide less mobility than arterials at lower speeds and for shorter
distances. They balance mobility with land access. The posted speed limit on collectors is usually between 35 and 55 mi/h.

Especially in the suburbs (or neighborhoods close to downtown), there is little traffic during most of the day. Even during peak hours one lane can usually handle the traffic flow.

So presumably you are referring mostly to arterial streets which can be either four lane or even six lane.

While I'm familiar with 'urbanist' thinking, that can be problematic to traffic flow. It would depend on the specific street and its purpose. For example, some streets can easily restrict traffic to non-commercial drivers. But typically arterial streets should be able to accommodate semi-trailer trucks or Big Box trucks like beer delivery trucks etc.

Speed - is more a function of the driver and time of day. During busier times, speed in not an option, regardless of specific lane width.

Accidents (of all types) are most likely to happen at intersections. How narrow the lanes are on streets are irrelevant and can even be more hazardous.

[Denver]

Erosion Control Permit was just issues for the NAVA project 525 2th St. Given the development team behind the deal and their success with Lake House, I am cautiously optimistic this will come to reality.

[TakeFive]

They just recently wrapped up sales at Lakehouse

Originally Posted by Denver

Erosion Control Permit was just issues for the NAVA project 525 2th St. Given the development team behind the deal and their success with Lake House, I am cautiously optimistic this will come to reality.

By chance is this project for 575 E. 20th Avenue?

Colorado’s Only WELL-Certified Residential Community Sells-Out
May 31, 2022 - Mile High CRE

Lakehouse, a 12-story mixed-use community in Denver’s Sloan’s Lake neighborhood community, developed by NAVA Real Estate Development, is now officially sold out, after just one year on the market. The community averaged nine sales per month during the past 12 months.

According to NAVA's website:

Just two months after Nava Real Estate completed construction of its Lakehouse Residences, one of its penthouses sold for $3.3 million. The condo unit overlooking Sloan’s Lake topped the list of the priciest residential sales in the Denver metro area in April. The 3,357-square-foot unit, located at 4200 W. 17th Ave., Unit #1205, sits atop the 12-story Lakehouse Residences. It spans features three bedrooms and four bathrooms.

The unit sold April 10 to Thomas Keltner, according to public records. Keltner was formerly executive vice president and CEO of Americas and Global Brands for Hilton Hotels Corp., according to his LinkedIn profile.

[rds70]

Originally Posted by Denver

Erosion Control Permit was just issues for the NAVA project 525 2th St. Given the development team behind the deal and their success with Lake House, I am cautiously optimistic this will come to reality.

Opus took over the project in 2021.

https://www.bizjournals.com/denver/news/...-nava-real-estate-20th-pennsylvania.html

[laniroj]

Originally Posted by TakeFive

As often the case I suspect it's a matter of context

I spend a lot of time on Collector Streets (as well as arterials) which are generally one lane in each direction.

Source:

Especially in the suburbs (or neighborhoods close to downtown), there is little traffic during most of the day. Even during peak hours one lane can usually handle the traffic flow.

So presumably you are referring mostly to arterial streets which can be either four lane or even six lane.

While I'm familiar with 'urbanist' thinking, that can be problematic to traffic flow. It would depend on the specific street and its purpose. For example, some streets can easily restrict traffic to non-commercial drivers. But typically arterial streets should be able to accommodate semi-trailer trucks or Big Box trucks like beer delivery trucks etc.

Speed - is more a function of the driver and time of day. During busier times, speed in not an option, regardless of specific lane width.

Accidents (of all types) are most likely to happen at intersections. How narrow the lanes are on streets are irrelevant and can even be more hazardous.

The FHWA was developed for our interstate highway system's initial construction and is indeed the document (as updated/grossly expanded) all transportation agencies rely on for planning and this is PRECISELY why I made the comments I made. This go with the flow status quo thinking is what's making our cities bane for pedestrians, uninteresting, and altogether boring compared to development in nearly every other major foreign City around the globe. We are choosing this in America. We are choosing to require roads in low density single family home neighborhoods with 2-3 lanes and 11-12' travel lane widths. We are choosing to prioritize vehicle movements over people and it shows. As an 'entitled' millennial, it's despicable to me and I wish we would radically change our land use planning basis of decision making. Side note, I don't think my generation will do it because we can't seem to figure out what leadership is or how to be leaders and Gen X seemingly wants to live under a Vans shoe box and will eventually get passed over by millennials to become the forgotten generation. Maybe Gen Z will mount the horse?

Folks can debate on a high level all they want, but land planning in America is highly auto-centric with almost no regard for pedestrian experience. The extent of our pedestrian planning is a site triangle a every curb cut - great, checked that box! Change comes from the hard, boring, endless detail work which, at this point, is so complicated and repetitive, that we're basically in a permanent state of status quo which is so difficult to break (enter Donald Trump). It's why I think Polis is an effective governor because he can identify, comprehend, and implement a path to change - whether or not that's good or bad, each of us can decide, but the dude knows how to do it.

[laniroj]

The project at Colfax/Kalamath near the burger king looks like it's moving forward with work on-site. Can't remember the exact project, but thought it was multifamily. If so, I'm very happy to see this area getting some more love on the heals of that CoLab project - which I'm still not sure is that student housing or coliving or something? Love that the area has an option like that.

[RyanD]

Originally Posted by laniroj

The project at Colfax/Kalamath near the burger king looks like it's moving forward with work on-site. Can't remember the exact project, but thought it was multifamily. If so, I'm very happy to see this area getting some more love on the heals of that CoLab project - which I'm still not sure is that student housing or coliving or something? Love that the area has an option like that.

Kalaco Apartments - 7 stories | 280 apts | 10,000 sf retail

https://denverinfill.com/2022/04/la-alma-lincoln-park-roundup-apr-2022.html

Project site from April and some renderings.

[TakeFive]

One (more) of the good things about DenverInfill
Is that they remind you of things you forgot.

I'm checking out the latest City Park West Roundup JUN 2022 and I realized I had plum forgotten about Broadstone Uptown which is now called Broadstone Kendrick.

Broadstone Kendrick. Formally known as Broadstone Uptown, Kendrick Uptown is now complete with residents moving in. This project features a pair of eight-story buildings that add a significant presence along East 18th Avenue. The contrast of facades between each of the buildings is also a welcome addition to the neighborhood.

Which brought back good memories.

Alliance Residential which builds the Broadstone brand (and now others) was an Early Bird to Denver. And you know what they say about Early Birds getting the worm and Alliance found a couple of great worm-sites and built two of my still favorite projects.

Their first (downtown) project which started as Broadstone on Market but changed to 2101 Market Street. From May 1, 2007:

Denver Infill Update: 2101 Market Breaks Ground

2101 Market, the project formerly known as the Broadstone Lofts, located on Block 036 in the Northeast Downtown district near Coors Field, celebrated its official groundbreaking today. The project consists of two parts: the complete renovation/conversion of the historic Piggly Wiggly warehouse building plus a three-story rooftop addition into 52 units, and the construction of a new 8-story mid-rise building adjacent to the historic structure featuring underground parking, 6,600 SF of ground-floor retail, and 174 units, for a project total of 226 apartment residences.

As I recall there was some back and forth around the Historical Piggly Wiggly building but the project turned out Very Nice. Ultimately the project ended up being called

TwentyOne01 on Market.





NEXT

Fast Forward to April 30, 2012

New Project: Broadstone Blake Street

Alliance Residential will be breaking ground this summer on Broadstone Blake Street, a 6-story, 164-unit apartment building located at the corner of 22nd and Blake, across from the right-field corner of Coors Field. In the late 2000s, Alliance completed 2101 Market ... This site was going to be a second phase to that project, known as 2120 Blake, but the financial crisis of 2008 intervened, so the Blake phase was put on hold.

Broadstone Blake Street will be a separate apartment community from its Market Street neighbor, complete with its own line-up of amenities including a WiFi lounge, pool, fitness center, business center, and outdoor spaces. Another neat design feature includes ground-floor units along Blake Street with stoop porches to give the building a more pedestrian-scaled frontage.

It's now called the Battery on Blake Street

[TakeFive]

Originally Posted by laniroj

As an 'entitled' millennial, it's despicable to me and I wish we would radically change our land use planning basis of decision making. Side note, I don't think my generation will do it because we can't seem to figure out what leadership is or how to be leaders and Gen X seemingly wants to live under a Vans shoe box and will eventually get passed over by millennials to become the forgotten generation. Maybe Gen Z will mount the horse?

Change comes from the hard, boring, endless detail work which, at this point, is so complicated and repetitive, that we're basically in a permanent state of status quo which is so difficult to break (enter Donald Trump). It's why I think Polis is an effective governor because he can identify, comprehend, and implement a path to change - whether or not that's good or bad, each of us can decide, but the dude knows how to do it.

Not that I'm in your space (I'm not) but I'd rather progress in your direction than to REGRESS.

Unfortunately, the political winds are not blowing in a good direction. BTW, I do like Polis b/c has a desire to not be business-unfriendly.

I do like the growing (bipartisan) concern over crime. Interestingly, the black Chief of Police in Phoenix, Jeri Williams, just returned from speaking in front of a Senate committee in D.C. And Mayor Kate Gallego along with the city council just raised the starting pay of new police officers by $20,000 to go on a hiring binge. Both are concerned with the impact of crime in general and especially in minority neighborhoods and as the now 5th largest city neither wants Phoenix to end up like Philadelphia or Chicago.

The Economy feels like a slow moving Train Wreck

Understandably most people want to go back to the good ole days when the cost of gas, of groceries and housing were all cheap. Hard to blame them but we're likely at the front end of several years of pain and dislocation. Costs may moderate some but "Welcome to the New World."

It may be possible over time that we become less car-dependent but that will take decades not years. With the growing cost and inconvenience of EV's many will cling to their gasoline engines.


Billy Joel

[wong21fr]

Originally Posted by TakeFive

I do like the growing (bipartisan) concern over crime. Interestingly, the black Chief of Police in Phoenix, Jeri Williams, just returned from speaking in front of a Senate committee in D.C. And Mayor Kate Gallego along with the city council just raised the starting pay of new police officers by $20,000 to go on a hiring binge. Both are concerned with the impact of crime in general and especially in minority neighborhoods and as the now 5th largest city neither wants Phoenix to end up like Philadelphia or Chicago.

20% in unfunded pay raises? Did the police union have a sex video of a City Council orgy or something?


I see that the salaries were below average.... but 20%? Yeesh. Go go cushy union jobs.

[TakeFive]

.....

Chicago firm proposes 25-story project downtown
June 16, 2022 By Thomas Gounley/BusinessDen

The 2200 block of Stout Street... A Chicago-based firm eyeing a big entrance into the Denver market has submitted development plans for a third site. CMK Cos. wants to build a 25-story, 858-unit residential project on a 1.15-acre site

h/t Curtis Park

I've yet to find whether any of the three sites have been bought or if they're just under contract. In any case, I decided to run a bunch of searches, see what I could find.

CMK DENVER LAND HOLDINGS, LLC

CMK DENVER LAND HOLDINGS, LLC (Entity# 20218085093) is a business corporation registered with Colorado Department of State (CDOS). The business formed date is November 18, 2021. The business address is 225 W. Ohio Street, 6th Floor, Chicago, IL 60654, US. The business entity type is Foreign Limited Liability Company.

Agent Principal Address
1900 W. Littleton Boulevard
Littleton CO 80120

Their 'agent' appears to be the law frim of Miller & Miller

Miller & Miller is a Denver boutique law firm focusing on commercial real estate transactions and business litigation. Principals Berkeley Miller and Todd Miller joined forces professionally in 2017 after spending several decades at large Denver law firms. We share a vision for delivering a different kind of client experience.

The DBJ mentions their architectural firm is Perkins&Will. They are located in the The Wrigley Building at Address: 410 N Michigan Ave, Chicago, IL 60611
Perkins&Will is a global firm with more than 20 offices across four continents.

I also found CMK Capital LLC in Fort Lauderdale. I also found CMK Capital Management LLC which is incorporated in the state of Delaware.

I also found CMK Capital Fund I General Information

CMK Capital Fund I is a buyout fund managed by China Merchants Kunlun Capital. The fund is located in Beijing, China. It targets information technology, TMT, fin tech sectors.

So not real estate related but I found the China connection interesting.

Getting back to CMK CAPITAL, LLC there's also the address of 7014 13TH AVENUE, SUITE 202 BROOKLYN 11228 NEW YORK

This is also interesting; note the dates. Similarly named companies

CMK CAPITAL LLC (Delaware (US), 28 Jun 2021- )
CMK CAPITAL, LLC (Texas (US), 27 Oct 2020- )
CMK Capital LLC (Colorado (US), 26 Jan 2022- )

CMK CAPITAL LLC CO

Cmk Capital LLC is a Colorado Limited-Liability Company filed On January 26, 2022. The Registered Agent on file for this company is Chase Kobilca and is located at 1555 Eaton St, Lakewood, CO 80214-1626. The company's principal address is 2149 S Holly Street, Denver, CO 80222 and its mailing address is 1555 Eaton St, Lakewood, CO 80214-1626.

Just another guess but Josh Horwitz Real Estate Agent is listed at the business address on So Holly St. I have no idea who Chase Kobilca is.



I recall musing earlier that maybe this is Russian Oligarch or Cartel money? It seems I looked in the wrong direction as I suspect funding may be coming from Beijing, China - which still doesn't identify the source. In any case it crossed my mind that possibly CMK Company, Chicago may have funded their Chicago projects with this source and have built up a 'trust' relationship. Just spitballing here but this could indeed be FOR REAL. Easily the most interesting searches I've done to date.

[laniroj]

Originally Posted by RyanD

Kalaco Apartments - 7 stories | 280 apts | 10,000 sf retail

https://denverinfill.com/2022/04/la-alma-lincoln-park-roundup-apr-2022.html

Thanks! These kinds of projects are my favorites - the ones on the edge of the investment spectrum that can really help turn a block/area around. All it takes is one, then the others will follow! This will be #2 right here and hopefully another one across the street in between 13th and 14th on Santa Fe which I've heard rumblings of.

[DenverInfill]

Currently under construction in Denver's urban core (downtown + downtown-adjacent districts like RiNo, Capitol Hill, etc.):

# floors - # projects

38 + 32 - 1

30 - 1

22 - 1

19 - 1

17 - 1

16 - 3

15 - 1

14 - 1

13 - 2

12 - 4

11 - 1

10 - 1

9 - 1

8 - 4

7 - 6

6 - 3

5 - 2

Total - 34 projects

Not counted: any projects under 5 floors, adaptive reuse projects

Housing units under construction: 7,677
Office space under construction: 1,334,500 sf
Hotel rooms under construction: 530

[bunt_q]

It feels like so much more, and yet, all those cranes are only housing for maybe 10,000 people.

[RyanD]

Even with 35 cranes in Central Denver alone, not including burbs, tech center, etc, it still feels like we need double that.

[TakeFive]

Did I mention that grey was the new color?


Image per public records via BusinessDen

https://businessden.com/2022/06/17/apartment-developer-mill-creek-pays-12m-for-land-near-du/

Apartment giant Mill Creek Residential has purchased land for a project near the University of Denver. The Dallas-based developer this week paid $12.1 million for land in the 2300 block of S. High. A five-story, 235-unit complex is planned for the 1.3 acre site.

Interesting they found this nice-sized land parcel in the middle of a block.
------------------------

Originally Posted by RyanD

Even with 35 cranes in Central Denver alone, not including burbs, tech center, etc, it still feels like we need double that.

35 cranes sounds like about as much as Denver has experienced, no?

[bunt_q]

If somebody wants to pay me $209/land foot for my crappy house right by DU, I would sell yesterday. But I assume it's that row of single family houses that was already owned by investors and managed as apartments already. I doubt this is a 9-house assemblage.

[TakeFive]

Could Be

Originally Posted by bunt_q

If somebody wants to pay me $209/land foot for my crappy house right by DU, I would sell yesterday. But I assume it's that row of single family houses that was already owned by investors and managed as apartments already. I doubt this is a 9-house assemblage.

I just assumed it's what Google calls 2321 So High St
-------------------------
Nice Work

Originally Posted by DenverInfill

Currently under construction in Denver's urban core (downtown + downtown-adjacent districts like RiNo, Capitol Hill, etc.):

Total - 34 projects

Not counted: any projects under 5 floors, adaptive reuse projects

Housing units under construction: 7,677
Office space under construction: 1,334,500 sf
Hotel rooms under construction: 530

IIRC, most groundbreakings were put on the shelf after COVID hit and construction slowed in deference to working 'safely.'

Then as things started to normalize in 2021, many projects were brought off the shelf and started through the year. Last quarter of 2021 and first quarter of 2022 seems like it was especially busy.

I counted 9 projects between 10 & 19 stories (2 over 20 stories). That's quite impressive.

[TakeFive]

A candid self-assessment? Who wouldathunk!

REFRESHING READ

Not just because of the reality it portrays but just the fact that's it is indeed so candid. A total break from the standard Streetsblog propaganda. One key paragraph:

“Even in places where there are pretty good alternative modes of transportation, you generally find a proclivity towards buying a car and using a car and becoming more car-oriented — not less,” Pendyala added. “In India, automobile travel is hardly subsidized at all — petrol is $10 a gallon, road congestion is horrendous — and people still express a desire to drive. … I feel like our profession has been putting blinders on, and saying, ‘Oh, if only we stopped subsidizing car-centric lifestyles, all of our problems would be solved.’ I don’t think that narrative has served us very well.”

Thinking about all those new apartment buildings

It just seems like over time there should be better ways of getting around than driving a car or Big Bertha buses in the greater downtown ecosphere. Bicycles ofc for those who like riding which is still a significant minority. I trust somebody will figure it out.

[Curtis Park]

Last night, the City Council voted in favor of Edens' zoning change. Of course, Candi cDebacle voted against it. And of course, a number of our neighbors of a certain generation spoke in opposition. There was a very large turnout from those in favor.
https://www.westword.com/news/developmen...ect-to-lawrence-larimer-streets-14012412