DENVER | Main Development Thread #7

[i4isoar]

Originally Posted by TakeFive

In dual quest to reduce housing costs and lower climate emissions, Gov. Jared Polis eyes shift away from sprawl and toward density
Jan 5, 2023 by Nathaniel Minor - CPR

Has a familiar ring to it.

I wish the Governor well and Best of Luck!

I call this a win! I know there's a difference between saying something and actually doing it, but I'd rather that people at least be talking about the issue and acknowledging it than saying absolutely nothing about it.

On a related note: something I found out recently and am surprised that there isn't more conversation on (at least on this board) is that the City of Denver recently passed a law requiring all landlords to get a license and an inspection before they can have tenants. Because the City messed up the licensing process and only has a limited number of inspectors, and also because they did a very bad job of giving notice to everyone of the new law, only about 8% of landlords are in compliance. What do folks make of that?

I think this is just going to hurt the City. Not least of all, the City only has a limited number of inspectors, so it's like they're adding one more completely unnecessary bottleneck to the supply of housing. Moreover, this is a financial penalty that disproportionately punishes small landlords but hardly affects the bigger corporate landlords. If the City can just arbitrarily declare 90% of rental housing illegal, then that can't be good for housing stability or affordability.

[laniroj]

Originally Posted by i4isoar

I call this a win! I know there's a difference between saying something and actually doing it, but I'd rather that people at least be talking about the issue and acknowledging it than saying absolutely nothing about it.

On a related note: something I found out recently and am surprised that there isn't more conversation on (at least on this board) is that the City of Denver recently passed a law requiring all landlords to get a license and an inspection before they can have tenants. Because the City messed up the licensing process and only has a limited number of inspectors, and also because they did a very bad job of giving notice to everyone of the new law, only about 8% of landlords are in compliance. What do folks make of that?

I think this is just going to hurt the City. Not least of all, the City only has a limited number of inspectors, so it's like they're adding one more completely unnecessary bottleneck to the supply of housing. Moreover, this is a financial penalty that disproportionately punishes small landlords but hardly affects the bigger corporate landlords. If the City can just arbitrarily declare 90% of rental housing illegal, then that can't be good for housing stability or affordability.

I'll be shocked if a well heeled owner doesn't challenge this on a privacy level. The level of detail the City seeks in registering is over-reach IMO and so likely all the large owners have registered and the many, many moms & pops have not and never will. The gubment is only as good as it can enforce...

Alas, the fees associated with this will be passed down, just as they always are, making housing more expensive and targeting some perceived benefit at the margin which does nothing meaningful in solving whatever pet problem someone discovered. It affects all owners the same...in that the fees will simply be passed through to residents, thereby increasing the cost of housing.

[TakeFive]

Agree it's a good thing

Originally Posted by i4isoar

I call this a win! I know there's a difference between saying something and actually doing it, but I'd rather that people at least be talking about the issue and acknowledging it than saying absolutely nothing about it.

As a guy who been around for many decades I continue to marvel at the growing density of the city center.

Over the last dozen year the density keeps growing and going taller and taller. There's still tons of plans for TOD; not only do we have Broadway Station/Gates we now have Broadway Park.

The irony of course is despite all that on-going density construction it has hardly made Denver a more affordable place to live - but that get's complicated. I would suggest that all that developing density has come at the expense of even more sprawl had it not been for the added density.

Originally Posted by laniroj

Alas, the fees associated with this will be passed down, just as they always are, making housing more expensive and targeting some perceived benefit at the margin which does nothing meaningful in solving whatever pet problem someone discovered. It affects all owners the same...in that the fees will simply be passed through to residents, thereby increasing the cost of housing.

[TakeFive]

What's new here is we now have funding



Archway Communities, Inc. to Convert Campus Dorms in Denver into 154 Affordable Apartment Homes
January 5, 2023 - Mile High CRE

On December 29, Archway Communities, Inc., a leader in providing quality affordable housing for Coloradans, closed on financing for four dormitory buildings on the former Johnson & Wales Campus located at 7150 Montview Blvd in Denver’s Park Hill neighborhood. Archway purchased the dormitories from Urban Land Conservancy (ULC), which acquired the campus in 2021 in partnership with Denver Public Schools and the Denver Housing Authority.

Archway will convert the four buildings into 154 apartment homes, offering studios, one, two, and three-bedroom apartments at rents affordable to individuals and families earning between 30% – 60% of the Area Median Income.

Archway expects to begin delivering units for occupancy in early 2024. “We are extremely proud of our team’s effort to close financing and get construction started here,” said Julie Stern, Archway’s director of real estate. “Our partners at Shopworks, Taylor Kohrs, SB Clark, Boston Capital and Hudson Capital, were key to our ability to make this happen and ultimately to begin delivering much-needed affordable housing to the Park Hill Neighborhood.”

[TakeFive]

Speaking of growing TOD density in Englewood

Fifield Cos. Breaks Ground on Arden Englewood Apartments
January 5, 2023 - Mile High CRE

Arden Englewood - 3615 S. Jason St.


Courtesy KTGY

Arden Englewood Apartments, a 302-unit, transit-oriented multifamily development, has broken ground on the site of the former Sports Authority headquarters parking lot located at 3615 S. Jason St. in Englewood, which has been vacant since 2016.

“Englewood is one of the most connected communities in the Denver area and has been experiencing significant growth in terms of new jobs and new residents... . “With two RTD light rail stations providing direct service to downtown Denver and Littleton just steps from the building, and access to the Rocky Mountains just 15 minutes away, Arden Englewood will meet the demand for residences that have easy access to the greater Denver area for work and play while offering renters the comforts of an upgraded, highly amenitized home.”

Designed by KTGY, with interiors by Studio 10, Arden Englewood is being constructed by W.E. O’Neil. CIBC is providing the

It's not like density isn't be added; it's just that it takes lots of time.

[TakeFive]

It's New; It's Fresh; It's Open

Hydro Building - 4817 National Western Dr.


Hydro Building, courtesy of CSU Spur

https://milehighcre.com/hydro-building-at-csu-spur-opens-on-january-6/

The CSU Spur campus will soon be complete with the opening of the third and final building, the Hydro building. A public ribbon-cutting and grand opening event will be held on Friday, Jan. 6, 2023, at 4817 National Western Dr., Denver, 80216.

CSU Spur is a one-of-a-kind campus that opened its first building, Vida, one year ago, launching a new campus that is free and open to the public and extends the reach and mission of the Colorado State University System.

Hydro is designed by Hord Coplan Macht and SmithGroup. JE Dunn is the general contractor.

How about that? There's that name again that I wasn't previously familiar with: Hord Coplan Macht

[rds70]

Originally Posted by TakeFive

Speaking of growing TOD density in Englewood

It's not like density isn't be added; it's just that it takes lots of time.

Speaking of Englewood, this 14 story, 240 unit building just broke ground directly east of the Swedish Medical Center on Emerson:

[TakeFive]

^^ I like that.

FWIW, my son was born at Swedish.

[wwmiv]

You can have a voice for the future of both Parks and Housing Affordability in Denver. I know most EVERYONE - hopefully not including you - hates political outreach, but sometimes it is necessary for our collective future. I hope you decide to keep reading because this is a ballot measure that I think deserves your thoughtful consideration.

As a Denver local myself, I am humbly asking you for a YES vote on April 4th to overturn the Conservation Easement on the Park Hill Golf Course. This Easement states that the land has to remain ONLY a for-profit golf course with 18 holes until 2099, even though it has been closed for 4 years and still uses 106 million gallons of water annually to maintain. It is also only 11 blocks from the publicly-owned City Park Golf Course, which is equally accessible and inclusive to all.

I ask that you vote YES on this proposition to overturn the Easement so that Denverites can add the following to the property:

• 100 acres of parkland (including a dog park), open & greenspace, and infrastructure to help prevent flooding in the area;

• a grocery store in a food desert so that Park Hill residents have access to nutritious food—Park Hill residents currently have to drive 20 minutes, take a 40 minute bus ride, or walk an hour to get to a quality grocery store;

• pedestrian and bike pathways safely connecting the Park Hill community to the 40th & Colorado RTD light rail station, so that residents have access to quality public transportation;

• public art and culture installations which will
add meaning and value to the Park Hill community and Denver;

• thousands of residential units—25% of these are required to be deeply affordable for-rent & for-sale units to people making as little as 16k/year. This gives affordable options to long-time Park Hill residents who were forced out by gentrification so that they can return to their community, to those of us who can barely afford Denver's skyrocketing cost-of-living despite being employed full-time workers such as teachers, other service workers, and artists who contribute to our culture and economy, and for the elderly who are often on a fixed income, as well as market-rates units—this will maintain Park Hill as a vibrant mixed-income community, where everyone is valued for their contributions;

• no skyscrapers or buildings that can be seen from too far away or that can obstruct the beautiful Rocky Mountain views many Denver residents enjoy from their homes;

• neighborhood services and neighborhood focused retail with a commitment to neighborhood-owned businesses;

• sidewalks and other infrastructure that every community deserves so that people can get around without the fear of being hit by a car;

• we are always open to hearing your thoughts and suggesting on what else we can incorporate and how we can best engage Denverites during this campaign;

We hope to earn your trust first and your support second thru this thoughtful proposal which I wholeheartedly believe will put Denver on a more affordable and sustainable path for all walks of life. If you ever want to stop on by and look over the Small Area Plan that a supermajority of the Denver City Council recently approved for the land, our office is the Park Hill Golf Course Clubhouse at 4141 E. 35th Avenue, Denver, Colorado 80207.

If you are willing and able to help in any way - calls, texts, knocking doors, or spreading the word among your friends, family, and neighbors - I genuinely can say that I look forward to putting a face to your name when you stop on by.

If you want to have maximum impact, show up on Monday January 23rd to the City Council meeting at 5:30-8:30 and be vocal in your support using the same talking points above if possible.

[Brainpathology]

..

[Brainpathology]

Originally Posted by wwmiv

• no skyscrapers or buildings that can be seen from too far away or that can obstruct the beautiful Rocky Mountain views many Denver residents enjoy from their homes;

Why this? It seems like you're trading one conservation easement to another, which is conservation of views of people who won't live there.

Denver's mountains aren't so unimpressive that the views have to be protected from every structure in town. If there's actually going to be a park there people could view the mountains from there. OR go only 11 blocks to city park which is equally accessible and inclusive to all, supposedly.

[wwmiv]

Originally Posted by Brainpathology

Why this? It seems like you're trading one conservation easement to another, which is conservation of views of people who won't live there.

Denver's mountains aren't so unimpressive that the views have to be protected from every structure in town. If there's actually going to be a park there people could view the mountains from there. OR go only 11 blocks to city park which is equally accessible and inclusive to all, supposedly.

12 floors, urban development doesn’t always need skyscrapers to be successful or needed. Also, skyscraper units tend to be much pricier and the goal is to add loads of supply.

[rds70]

Originally Posted by rds70

The foundation permit for Kenect Denver was approved on November 5th.

What are the chances it actually starts construction?

A full building permit application for the superstructure was recently submitted for the project.

[wong21fr]

Originally Posted by rds70

A full building permit application for the superstructure was recently submitted for the project.

I'll be damned. It would be nice if this project does break ground and provides more eyes on the streets next to the Rescue Mission and Samaritan House.

[TakeFive]

Originally Posted by rds70

A full building permit application for the superstructure was recently submitted for the project.

Just did a quick check on Kenect Phoenix. IIRC they started renting units in summer of 2020 as they finished units. It appears they're doing very well from the rents they're asking and no incentives. They also have a number of 3-bdrm co-living units in addition to studio and 1-bedroom units.

Good guess they have funding already lined up.

[TakeFive]

Missing Middle coming to University of Denver

https://www.bizjournals.com/denver/news/...x_testVariant=cx_26&cx_artPos=4#cxrecs_s

A developer is working on bringing more density and a different kind of housing option along “sorority row” at the University of Denver.

Henry Adams, principal at Reliant Capital, has proposed 13 new townhomes on two lots at 2276 and 2284 S. Josephine St. in University Park.

Adams plans to rent the majority of the townhomes to students, in addition to young professionals in the immediate future, and he liked the ability to sell the townhomes individually in the future. “There’s a lot of benefit to owning that type of product in that area and separating ourselves from the current wave of multifamily,” Adams said. The Josephine Peaks Townhomes will have three bedrooms.

[TakeFive]

Can Colorado Compete? Does it matter?

https://www.bizjournals.com/denver/news/...hamber-competitive-landscape-report.html

He Said; She said.

Colorado employers continue to laud the unparalleled quality of life the state offers as well as its talent pool, but the increasing costs of living, exacerbated by increasing state regulations, are making it harder to do business here, according to a new study. What emerged in the Colorado Competitive Landscape Report was a mixed bag of reasons that the state continues to attract top talent and companies seeking to expand operations. The report also found employers who are located within the state say they are looking increasingly at growing in states such as Texas or Arizona rather than in Colorado.

The report noted that regulations are impacting business competitiveness negatively not just because of their perception but because of their cost to businesses. Jackie Brookshire, president of American Furniture Warehouse said she expects the implementation of the new Family and Medical Leave Insurance program to reduce profits at the chain’s 10 Colorado stores by 10%.

[Brainpathology]

Originally Posted by wwmiv

12 floors, urban development doesn’t always need skyscrapers to be successful or needed. Also, skyscraper units tend to be much pricier and the goal is to add loads of supply.

Oh Ok I didn't see 12 floors mentioned there. That does seem reasonably better for something that far from downtown. My memory is still scarred from Highland calling 5 stories a high-rise.

[Brainpathology]

Originally Posted by TakeFive

Can Colorado Compete? Does it matter?

https://www.bizjournals.com/denver/news/...hamber-competitive-landscape-report.html

He Said; She said.

Do businesses EVER say it's easy to do business somewhere? If I owned a company I can't fathom what situation would make me say "yeah the amount of regulation I deal with is just right, and prices for everything are great!"

[laniroj]

Originally Posted by TakeFive

Can Colorado Compete? Does it matter?

https://www.bizjournals.com/denver/news/...hamber-competitive-landscape-report.html

He Said; She said.

You can put my company in the 'growing out of state' bucket. Not that it's gotten too difficult here, it's just easier elsewhere. All the little things add up - especially in the City of Denver. Hopefully Polis takes note of this through his second term and doesn't do anything else to worsen the situation. In the past 15 years, we've rapidly headed toward an entrenched, overregulated blue state and that pace is accelerating today. We do still have TABOR though, so there is that backstop to government growth.