DENVER | Main Development Thread #7

[TakeFive]

Did the Governor thread the needle with this proposal?

I applaud the effort partly because I'm a huge fan of 'missing middle' housing.

https://www.cpr.org/2023/03/22/gov-polis-housing-proposal-duplexes-townhomes-adus/

Four and six unit townhome-style buildings make up Mosaica, a new Colorado Springs housing development geared to families making slightly too much to qualify for traditional affordable housing.

Gotta love the photo that Kenney and Minor came up with for an example. Proves my argument for how much easier it is to accomplish on vacant land.

"... we need a smart plan ... close to where jobs are and along transit lines with opportunities for people to get where they want to go,”

The normal traditional approach to denser zoning has always been near job centers like shopping areas etc for apartments. Good luck creating transit for where everybody wants to go. Transit lines, especially station stops should accommodate higher density than just 4 to 6 units per lot. BTW, what constitutes a lot?

Cities could still customize their codes, for example by adding design requirements. “People take pride in their neighborhoods and in their communities, and part of that is in fact how they look,” Jodeh said. “Those standards are there to make sure that people can still do that.”

Sounds like an exception big enough to drive a Mack Truck through.

Generally, these requirements are more of an urban form which could be a sticking point with many suburban communities. Traditional nearby to job centers is a fine idea but less so in less dense suburban neighborhoods. The responses among various interest groups should be quite interesting.

[mhays]

If hundreds of thousands of SFR sites can suddenly handle a handful of units each, SFR houses won't necessarily get more expensive.

For one, that's a ton of potential sellers. There won't be the sort of scarcity that raises prices much.

Two, a lot of the SFR demand is from people who might like the option for a townhouse or other missing-middle type.

Washington is looking at similar legislation this year. Fingers crossed. Tacoma already did it.

[TakeFive]

Originally Posted by mhays

If hundreds of thousands of SFR sites can suddenly handle a handful of units each, SFR houses won't necessarily get more expensive.

For one, that's a ton of potential sellers. There won't be the sort of scarcity that raises prices much.

Two, a lot of the SFR demand is from people who might like the option for a townhouse or other missing-middle type.

It occurred to me I better google SFR; now I know what that means. For those who are curious it means single family rentals.

So we continue down the path of becoming more and more a Rental Nation? Eh, why not? It does make 'sprawl' ever more appealing if one wants to find a reasonably affordable home to buy. But favorable areas of Denver are already quite expensive so why not at least add some missing middle options. It makes good sense actually.

[TakeFive]

Originally Posted by mhays

If hundreds of thousands of SFR sites can suddenly handle a handful of units each, SFR houses won't necessarily get more expensive.

For one, that's a ton of potential sellers. There won't be the sort of scarcity that raises prices much.

True Story

I pick up this guy from his favorite neighborhood sports bar and as we drive along Bell Rd I happen to mention I wanted to look at the models of a new development that we passed by. He tells me he already looked at them and he couldn't believe how small the back yards were. Small back yards are not a new thing but I guess his impression was expensive homes shouldn't have back yards THAT small.

I wouldn't call it a prime location but certainly a nice area. The value derived from such a nice-sized parcel that was an infill site. The last piece of a once large ranch that had kept a few cows to preserve their agricultural zoning. D.R. Horton paid $80 million for the 121.7 acre tract that will build out with 420 SFH's and 286 attached duplex units.

Point being that it's easy peasy to create land use efficiency when you start with a raw piece of ground.

[TakeFive]

Here's the Rub

In thinking of neighborhoods where it would be easiest to add density the one's that come to mind are starter home neighborhoods typically built in the 1950's that were (mostly) built on slabs like Virginia Vale/Village or University Hills. Much the same was also built in SW Denver where land values should be less but IIRC some of those home added basements.

Those homes were generally built with nice back yards meaning a lot is maybe twice as deep as it is wide. Trying to figure out how to retrofit multiplexes is a bit of a head scratcher. Slot homes I guess. If you could assemble 3 or 4 lots it could work well. You could add a drive for accessing garages (either attached or detached) in the back.

Closer in perhaps West Wash Park would provide some good opportunities. The challenge is finding sites that are cheap enough to scrape and rebuild.

As much as I do like 'missing middle' housing options I suspect it will be easier said than done anywhere close to the city center or in desirable areas.

[TakeFive]

https://www.denver7.com/sports/broncos/b...s-about-new-stadium-preferences-location

The survey acknowledged that the Broncos are "exploring the possibility of constructing a new state-of-the-art football stadium that would serve as a world-class home for the team and its dedicated fan base." Per the Broncos, the new stadium would improve the fan experience with new and enhanced seating options as well as upgraded stadium amenities across concessions, concourse, technology and merchandise.

[SirLucasTheGreat]

The survey also asked fans what their preferred location would be. Do you think there would be enough space between the Pepsi Plant and the Coliseum parking area? I know Pepsi put their 30 acre plant for sale and it is near the commuter rail.

[mhays]

Originally Posted by TakeFive

It occurred to me I better google SFR; now I know what that means. For those who are curious it means single family rentals.

So we continue down the path of becoming more and more a Rental Nation? Eh, why not? It does make 'sprawl' ever more appealing if one wants to find a reasonably affordable home to buy. But favorable areas of Denver are already quite expensive so why not at least add some missing middle options. It makes good sense actually.

Rentals? No, it's a common term for single family residences, pretty universal in planning circles.

[TakeFive]

Originally Posted by mhays

Rentals? No, it's a common term for single family residences, pretty universal in planning circles.

Ahh, OK, thanks for the correction. I jumped at the 1st answer I found. I've always used "single family homes." Apparently it's used differently by different people. One answer even stated "single family residences intended for rental."

[i4isoar]

Originally Posted by SirLucasTheGreat

Looks like there's some very massive housing reform coming in at the State level. Among other changes, looks like Polis will be banning single family zoning in all of the "tier 1" cities.

Gov. Polis’ housing proposal would allow duplexes, townhomes, ADUs across many cities in Colorado
https://www.cpr.org/2023/03/22/gov-polis-housing-proposal-duplexes-townhomes-adus/

Originally Posted by Ich

Glad Polis is actually trying to address increasing the housing supply rather pushing for endless leases and rent control which will most likely make the situation worse.

Originally Posted by twalm

Sounds like a knock on single family zoning in dense areas. Sounds like a big win to me! I appreciate the inclusion of mountain towns in this, building single family suburbs in walkable mountain towns with limited space is incredibly dumb.

This is good news! Obviously, the final legislation will look very different from what's proposed, but it looks like a promising start. I wish we could see more policies like this, and less like the endless leases, rent control, and that asinine registration and inspection requirement in Denver that only 8% of landlords are in compliance with.

On the flip-side, I would find it deeply ironic if one of Polis's best policies (in the long-term) ends up becoming one of his most unpopular (in the short-term), and what ultimately costs him politically in the next election.

Originally Posted by TakeFive

https://www.denver7.com/sports/broncos/b...s-about-new-stadium-preferences-location

Great! Here's to hoping that a new stadium will have a retractable roof so we might be able to host a Superbowl one day - I'd read somewhere that the vast majority of them are either held in warmer climates (Miami, Phoenix, LA...) or places with covered stadiums (MSP, Detroit...).

[TakeFive]

Commercial real estate is in trouble. Why you should be paying attention - Nice clickbait headline.

Interesting piece on CNN. Essentially, is CRE a slow moving train wreck?

New York CNN —
Economists are growing concerned about the $20 trillion commercial real estate (CRE) industry

While that is a big number there's little context. Statistics need explanation. There is a lot of debt that matures in 2023 but only some of it is of concern.


I did not fully appreciated this point:

Lending to commercial real estate developers and managers largely comes from small and mid-sized banks, where the pressure on liquidity has been most severe. About 80% of all bank loans for commercial properties come from regional banks, according to Goldman Sachs economists.

“I do think you will see banks pull back on commercial real estate commitments more rapidly in a world [where] they’re more focused on liquidity,” wrote Goldman Sachs Research’s Richard Ramsden in a note on Friday. “And I do think that is going to be something that will be important to watch over the coming months and quarters.”

Note: the primary concern is with office and retail.

Consider the old adage: "When one door closes another opens."

For example, I've also read that as Bed, Bath and Beyond closes stores this year, other retailers are ready to jump on their space. Some retail is in trouble; other retail seems to be thriving; it's the way it's always been.

Denver is aware of issues with some of their office properties. I think partly it's simply a matter of changing trends and not all office space is impacted.

The only takeaway I'd be concerned about is an overall tightening of credit. I've also heard that some Life Insurance companies have similar concerns. But even so some deals will still get done while others may be put on hold.

[TakeFive]

Needing something to replace a duplicate post, I'll go with this.

A wong special interest resource piece.

Wall Street is thirsty for its next big investment opportunity: The West’s vanishing water

East Coast firms have bought up thousands of acres of irrigated land across the Southwest, local officials told CNN. ...

Water Asset Management president Matt Diserio has called water in the United States “a trillion-dollar market opportunity,” and said he started the company “on the core belief that scarce clean water is the resource defining this century, much like plentiful, cheap dirty oil defined the last century.”

This doesn't impact Colorado does it?

Andy Mueller, the general manager of the Colorado River District Water District, disagrees, describing Water Asset Management and other East Coast investment firms as “drought profiteers.”

“They’re trying to suck the very lifeblood out of these communities for their own financial benefit,” Mueller said. Water Asset Management owns at least 3,000 acres in Western Colorado’s Grand Valley, where Mueller works to protect Colorado’s share of the river. He said the full scale of the land grab is difficult to track because investment firms use different names to disguise ownership.

In property searches on county assessor websites in Mohave County and Mesa County in Colorado, no results were found when CNN searched for properties with the name Water Asset Management as the listed owner. CNN found multiple properties in both counties under various names, such as WPI Hulet Farm AZ LLC, WPI II-GV6 Farm CO LLC and WPI-919 Farm AZ LLC, all of which have a mailing address that match the address for Water Asset Management’s headquarters in New York City.

I still find it interesting that Colorado's Eastern Slope has as much concern with water supplies as many downstream states.

[mojiferous]

Originally Posted by TakeFive

Needing something to replace a duplicate post, I'll go with this.

A wong special interest resource piece.

Wall Street is thirsty for its next big investment opportunity: The West’s vanishing water

This doesn't impact Colorado does it?

I still find it interesting that Colorado's Eastern Slope has as much concern with water supplies as many downstream states.

Lol. I wonder what his plan is when his company runs face first into the complexities of water law and his investors realize he bought hundreds of acres of barren land that he now has the right to irrigate and not much else. I guess he has never picked up any book about water in the west and realized it has already been fought over as a resource for more than 150 years. Maybe someone can send him a link to watch Chinatown and then invite him to LA DWP's headquarters that bookends the park in front of city hall (because they're the second most powerful entity in the city).

My personal thoughts on this are that anyone profiting off water like this should be dragged to the edge of town and posted there as a warning to the next person who has the idea.

[TakeFive]

Side Pocket Topics

Not intended for discussion
but because I'm a voracious reader I've found a few especially interesting reads, maybe a little bit relevant.

Here's a mild surprise for the business good guys: an interesting read and decision.
Judge orders Phoenix to clean up, get rid of tents in ‘The Zone’

The drug epidemic is worse than COVID and somebody, somewhere needs to find a solution. Most of these homeless people need help desperately but tolerating increasing crime is NOT the answer.

-----------------------------

This one's for you Darius - about Denver

Originally Posted by Darius C

One positive, predictable outcome would be some restoration of political balance in CO in the next election cycle since the suburbs---sorry, I meant Tier 1 cities---will not be thrilled.

Parent group starts petition that calls for 7 Denver Public Schools board members to resign

Politics can sometimes turn on a dime. BTW, why does ideology always have to be in conflict with practical reality. Has anybody ever considered that both could work together at the same time?

-----------------------------

From Oregon Live:
Portland Walmart closures attract national attention

Would it surprise anybody that cool but crazy Portland had previously lobbied to keep Walmart out? Here's the downside: 580 jobs lost; meanwhile the remaining retailers will gain a whole new group of customers that walk in and walk out without paying. BTW, there remains a dozen Walmart's in the metro area but outside the city boundaries.

------------------------------

I saved the best until last

Sometimes you run across a very special person; such is the case with this wonderful lady.

100-Year-Old Grandmother Slams Florida's Book Bans in Powerful Speech

[mhays]

Jobs lost?! That's not logical at all. Customers will just shift to other stores, and the jobs will too.

[Brainpathology]

Originally Posted by TakeFive

I saved the best until last

Sometimes you run across a very special person; such is the case with this wonderful lady.

100-Year-Old Grandmother Slams Florida's Book Bans in Powerful Speech

Yep.. what's left of the greatest generation showing why that name.. while the boomers will finally (IN GENERAL) start making the world a better place in the next 2-3 decades.

[Denver]

Site Development Plan was recently submitted for 3900 Blake St.



RiNo is home to 3900 Blake Street, the 17-story high rise was designed with the neighborhood and its dwellers in mind, offering a reinterpretation of the neighborhood's industrial architectural character. The building is complete with state of the art, sustainable amenities and systems for the residents’ consideration. Designed to be ecologically conscious, environmentally friendly and transit oriented, supporting the active lifestyles of the community.

The project is schedule to break ground in late 2024.


https://www.zpdarch.com/copy-of-work-in-progress

[TakeFive]

There's something more important than density?



This has to be the best Area Plan that's ever come out of Denver.

West Denver neighborhoods will be shaped for the next 20 years by the area plan City Council approved this week
March 28, 2023 By Desiree Mathurin/Denverite

On Monday, City Council approved the West Area Plan, which encompasses Barnum, Barnum West, Sun Valley, Valverde, Villa Park and West Colfax. The plan, which has been in the works since 2019, is a guiding document for the area created by Community Planning and Development.

I couldn't care less about all the liberal intellectual moralizing; the history going back to the 1930's, the red lining, systemic racism, the god-awful freeways blah blah blah.

For example, I don't even know what this means.

“A lot of the foundation was built on making recommendations that really pull these neighborhoods into a space of equity and justice – environmental, social and economic,” said Councilmember Jamie Torres...

This part I understand and like.

“If you look at a lot of the other plans that we’ve passed, they focus on land-use first. This community fought really hard to reorient how you look at the plan and focus it around quality of life first.”

I take those same historical dots and I see a whole different history; one of creating an island of affordability where the poorest of the poor could live, an area that was rich in culture. Gratefully, it remains highly affordable and a unique area. If we have a 'sad' history to thank for that affordability and rich culture, so be it.



Untitled - figurine of a girl on a bright blue field surrounded by bright colors and flowers

This part is also good.

The first portion of the document typically focuses on the land-use options first, but, with the West Area Plan, community members were more concerned with quality of life and ensuring this guide lets pushes the city to consider “how does this improve our lives?”

“For those in this area, those concerns were the most important for the community members who participated. So what we did in this document was lift up those issues and make that the framework for the entire plan.”

This is Cool; it's fascinating that they wanted to focus on water ecology

The ecology of the area is part of that, especially when it comes to the waterways. The plan has an entire section focused on water, another first for CPD. Some of those water recommendations include the restoration of the South Platte River – making it safer from flooding, adding parks and trails as well as improving the habitat. Other recommendations include adding green space infrastructures that can collect water, such as storm water planters, and policy requests that focus on sustainable and resilient water management.

Don't Gentrify My Neighborhood


Photo credit: Kevin J. Beaty/Denverite

One irony is for all the jibber-jabber about density and affordability most of these people know nothing about this area and that's a good thing.

[rds70]

A recent construction photo of 1900 Lawrence:

[TakeFive]

A Tough Call?


Photo by: Denver7

Fate of century-old City Park West house in hands of city council after debate over landmark status
Mar 29, 2023 By: Danielle Kreutter - Denver7

Historic Denver is working to save 1741 Gaylord St. from demolition, while a developer is planning for workforce housing units.

"It was designed and built by the architects of Denver Union Station, had a lot of prominent people live in it and own it over the years, including one of the founders of Children's Hospital," said Andrea Burns, the interim president of Historic Denver. "It's too important. It's too beautiful. And it's got such a deep history. It's been here for 120 years, and we think it's got 120 years left in it," said Burns.

From what I read, my 1st impression is this would be a sad loss. Building 'workforce housing' while nice is irrelevant to the primary question.

-------------------------------

Cool Photo; this project is moving right along

Originally Posted by rds70

A recent construction photo of 1900 Lawrence: