DENVER | Main Development Thread #7

[TakeFive]

Originally Posted by CPVLIVE

The 16th Street Mall's largest problem is that 40% of it looks like this -

Thanks for the awesome photo!

Nice to know you're still out there taking shots of Denver. One of my favorite all-time photo threads is the "Historic Public School Architecture From The City Beautiful Era" from back in 2012.

Just one example of CPVLIVE's work:



If you'd care to provide an occasional photo update of the Mall's progress that would be great fun.

[dktshb]

Originally Posted by TakeFive

The Atlanta market is huge but I'd tend to compare Buckhead to downtown Denver.

Cherry Creek is more comparable to Kierlands Commons - Scottsdale Quarter across the street from each other in Scottsdale. Both areas are upscale and better known for their retail and entertainment (restaurants etc) than office space - although both areas have some corporate presence. Both areas include hotels and are medium density.

Cherry Creek has a much better pedestrian orientation than Buckhead. Taller buildings are not always better. Cherry Creek definitely would be my choice between the 2 hoods.

[rds70]

Originally Posted by rds70

The Downtown Design Advisory Board will be reviewing the massing of a proposed 23 story building at 11th and Cherokee at their meeting next week.

Here are some of the massing views for the +/-296 unit, 257 foot tall building. The best feature is the preservation of the existing single story retail building fronting 11th:

Here is the latest rendering of the project:

[TakeFive]

Originally Posted by rds70

The best feature is the preservation of the existing single story retail building fronting 11th:

Totally Agree:


Per Google Maps/DP

[TakeFive]

One Thousand 'new' residents in downtown Denver?

https://apnews.com/article/cities-downto...andemic-cc2cd895fd0f186229f69b74a133eddb






Photos courtesy AP - Bebeto Matthews

NEW YORK (AP) — On the 31st floor of what was once a towering office building in downtown Manhattan, construction workers lay down steel bracing for what will soon anchor a host of residential amenities: a catering station, lounge, fire pit and gas grills.

The building, empty since 2021, is being converted to 588 market-rate rental apartments that will house about 1,000 people. “We’re taking a vacant building and pouring life not only into this building, but this entire neighborhood,” said Joey Chilelli, managing director of real estate firm Vanbarton Group, which is doing the conversion.

Can converting empty offices to apartments solve Denver’s housing shortfall?
April 12, 2023 By Aldo Svaldi - The Denver Post

Denver’s mayoral candidates, as well as Mayor Michael Hancock’s administration, have emphasized converting underused office buildings into apartments or condos as an important way to address the city’s housing shortfall and revitalize the downtown area.

The idea represents a “kill two birds with one stone” solution. The pandemic reduced the number of people working in offices, which has caused vacancy rates to soar and mortgage loans to go into default. At the same time, Denver has struggled with some of the biggest home price and rent gains seen in any city outside of California.

A Study would be a good place to start.

Denver is spending $75,000 for a feasibility study to look at reusing up to 30 buildings downtown, primarily underperforming office buildings. The study will look at floor plate sizes, mechanical systems, and proximity to transit, to determine whether a residential conversion is practical or not, she said.

For property owners who have self-identified conversion candidates, the city has created a pilot program to provide them with dedicated one-on-one staff support to get them through the process.

FWIW, the City of Phoenix has incentivized the construction of new high rises downtown over the last decade usually with a property tax abeyance for 20 (?) years or so. Due to state regs there's a gimmick they've used to make it work. Where there's a Will there's a Way.

[rds70]

A new concept plan has been submitted to the City for the other half of Block 176.

Amacon is proposing another two tower development with a mix of residential and hotel uses. Both towers would be 39 stories and include 611 units, per the application. It is not clear whether the hotel rooms are included in the unit count or not.

It looks like the project includes the 7-11 site as well as the surface parking lot.

UPDATE:

There would be 611 residential units and 96 hotel rooms. Additionally, here is a rendering:

[laniroj]

Originally Posted by TakeFive

Can converting empty offices to apartments solve Denver’s housing shortfall?[/SIZE]
April 12, 2023 By Aldo Svaldi - The Denver Post

A Study would be a good place to start.

FWIW, the City of Phoenix has incentivized the construction of new high rises downtown over the last decade usually with a property tax abeyance for 20 (?) years or so. Due to state regs there's a gimmick they've used to make it work. Where there's a Will there's a Way.

Why is a City studying development feasibility a good place to start? Wouldn't that be an analysis better undertaken by the private sector who ACTUALLY has experience doing the conversions? Seems like a waste of money. Ample evidence in peer-cities already exists suggesting this is not only possible, but of great interest to the private sector given the right incentives to "cover the gaps". Look no further than our northern neighbors:

https://www.calgary.ca/development/downtown-incentive.html

Many places do site specific tax abatement for redevelopment, sometimes even through staff/administrative approvals...but not here in CO...

[SirLucasTheGreat]

Super exciting on Block 176. Hopefully it won't take 5 years to go through permitting

[TakeFive]

Image courtesy Mile High Development

Denver's latest affordable housing project breaks ground in Northfield area of Central Park
Apr 24, 2023 By: Russell Haythorn - Denver7 News

The vast amount of developable space in Denver’s Central Park is ground zero for several of the city’s latest affordable housing projects. The latest one? Northfield Flats, located just behind the Shops at Northfield in Central Park, near the new In-and-Out Burger and Raising Canes on Central Park Blvd.

“This is 100% affordable in this really great location with Northfield right there,” said George Thorn, CEO of Mile High Development, the owner of the project. “It provides great access to shopping, and to jobs, and transportation with the Central Park Station."

That's two 'designated' affordable housing projects that have broken ground this month plus a third that leans to the affordable side.

[jhwk]

Is Republic Plaza skinny enough to convert to residential? It looks like it has a smaller floor plate than our other tall buildings. Not sure how you could do the operable window thing, though. If it was it would make a huge improvement in upper downtown.

[rds70]

An interesting Adams County proposal:

A transit supportive development at 60th and Federal that is planned to include over 930 residential units, including apartments condos and townhomes ,as well at a village green and 31,000 square feet of retail. The site is 21 acres and less than 1/4 mile from the Federal G line station. The developer is RP Capital of Utah.

A site plan and rendering:

[TakeFive]

A lot to like with this development

Originally Posted by rds70

An interesting Adams County proposal:

A transit supportive development at 60th and Federal that is planned to include over 930 residential units, including apartments condos and townhomes ,as well at a village green and 31,000 square feet of retail. The site is 21 acres and less than 1/4 mile from the Federal G line station. The developer is RP Capital of Utah.

You gotta like the housing diversity.

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

BREAKING....

1741 Gaylord Street



In a rare move, City Council approved owner-opposed landmark designation of 1741 Gaylord St.
April 24. 2023 by Rebecca Tauber/Denverite

Supporters advocated on behalf of the house, arguing that preservation and affordable housing are not mutually exclusive.

City Council voted unanimously Monday night to grant landmark preservation status to 1741 Gaylord St. in City Park West, in a rare owner-opposed designation.

“The demolition application for this property illustrates the flagrant disregard for the people, the culture and the history of our city,” said Councilmember Candi CdeBaca, who represents District 9, which includes 1741 Gaylord St. “Many have expressed that this city is losing its soul to predatory development. This property is a perfect example of that assertion on so many levels. We have a developer who can actually look at this building and see nothing but dollar signs.”

Candi CdeBaca and me; like two peas in a pod.

[laniroj]

Originally Posted by jhwk

Is Republic Plaza skinny enough to convert to residential? It looks like it has a smaller floor plate than our other tall buildings. Not sure how you could do the operable window thing, though. If it was it would make a huge improvement in upper downtown.

Perhaps there is an architect or engineer on the forum who could advise, but I don't believe operable windows are code required, moreso just a marketability thing. Anyone know?

[wong21fr]

Originally Posted by jhwk

Is Republic Plaza skinny enough to convert to residential? It looks like it has a smaller floor plate than our other tall buildings. Not sure how you could do the operable window thing, though. If it was it would make a huge improvement in upper downtown.

Marketing that as residential would be fun, not sure if the 25K sq ft floor plates are indeed feasible. Also, where would you site the porte cochere?

[wong21fr]

Originally Posted by rds70

A new concept plan has been submitted to the City for the other half of Block 176.

Amacon is proposing another two tower development with a mix of residential and hotel uses. Both towers would be 39 stories and include 611 units, per the application. It is not clear whether the hotel rooms are included in the unit count or not.

It looks like the project includes the 7-11 site as well as the surface parking lot.

UPDATE:

There would be 611 residential units and 96 hotel rooms. Additionally, here is a rendering:

Here's the Denver Business Journal article with a bit more information, but not too much (RDS' summary covers most everything):

https://www.bizjournals.com/denver/news/...ndo-hotel-project-proposed-downtown.html


Hopefully this is indicative of Amacon's bullishness on downtown residential since it would see a ~1100 residential units and ~100 hotel units on a single block downtown. If the CBD could add 5K or so residential units via new construction and office conversions over the next five years or so it would make for a large improvement on the decreased vitality of this portion of downtown.

[TakeFive]

Here We Go Again

Denver among top 10 places people are leaving in 2023
Apr 24, 2023 by: DJ Summers - Fox31 KDVR

For Starters
There's a key difference between "looking" to leave and actually leaving.

They Come; They Go
Good guess that among Gen Z there's more churn than among other demographic groups.

Nice Graphics and what they tell us

East and West Coast cities are losing the most people.

San Francisco tops the list, having lost 31,100 people in the first three months of 2023. New York City, Los Angeles and Washington, D.C. lost between 18,000 and 23,400 people apiece.

Colorado/Denver would seem to fall within the "noise" margin.

Regional Migration

Generally, people are looking to leave West Coast, Mid-Atlantic and Great Plains states, while more people are looking to enter southern, southwestern, New England and mountain states.

Do people really like Crazy Conservative Politics?

By state, Florida is the biggest winner followed by Texas, Arizona, Tennessee and South Carolina. Biggest Losers are California, New York and Washington, D.C.

Speaking of Retailers and Portland

PORTLAND, Ore. (KOIN) – Portland Pearl District will lose another large commercial tenant in early 2024 as REI announced Monday it plans to close its store. In an email sent to members, REI said the Portland store had its highest number of break-ins and thefts in two decades despite actions to provide extra security

Crime really is a thing

Consider the smaller guy wanting to scratch out a living in parts of Denver that were once very retail-friendly but now not so much.

With respect to Denver

Some of this could be the logical result of a housing and affordability shortage. With a lot of apartments under construction and lower in-migration numbers than in the past, this might take some of the pressure off.

[bunt_q]

I still think the nearly empty Denver Energy Center is better for a residential conversion. Floor plates are half Republic - 12,000, maybe 12,500.

And hey, the buildings are such pieces of shit that the windows creak and groan and leak. You could probably market that as providing airflow, if not “operable” per se.

[wong21fr]

Originally Posted by TakeFive

Here We Go Again

Jeez man, for a guy who bitches about statistics....

Methodology
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.

[rds70]

Originally Posted by TakeFive

Here We Go Again

Denver among top 10 places people are leaving in 2023
Apr 24, 2023 by: DJ Summers - Fox31 KDVR

For Starters
There's a key difference between "looking" to leave and actually leaving.

They Come; They Go
Good guess that among Gen Z there's more churn than among other demographic groups.

Nice Graphics and what they tell us

Colorado/Denver would seem to fall within the "noise" margin.

Regional Migration

I love the small print from Redfin, specifically on a map titled “Where people are moving to and from”:

This data does not reflect actual moves. The latest migration analysis is based on a sample of about two million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.

[Brainpathology]

Originally Posted by TakeFive

1741 Gaylord Street



In a rare move, City Council approved owner-opposed landmark designation of 1741 Gaylord St.
April 24. 2023 by Rebecca Tauber/Denverite

Candi CdeBaca and me; like two peas in a pod.

In Denver, is Historic designation used for ANY other purpose than to oppose development? I'm starting to have a bias for anyone who says they are interested in historic architecture thinking what they really mean is they want to halt any and all development for any reason whatsoever... while simultaneously whining about the rent being high.