DENVER | Main Development Thread #7

[mhays]

I understand the worker/dependent balance point (and listen to too many videos by Zeihan and others), but economically it really depends what you're counting.

From a development perspective, they're a big and important factor in household counts.

Same with kids. Their numbers affect the volume of school construction most notably.

Really it boils down to both being net sinks economically, but still increasing real estate needs. In balance, we probably spend a larger percentage of total economic activity on buildings, even though doing so is a strain on funding borne by the workforce.

[SirLucasTheGreat]

Here's a rendering of the new Amacon project

[rds70]

Latest renderings of the proposed 1709 Blake Street hotel, with 115 rooms in a 7 story building. The developer is the Nichols Partnership. The project also incorporates the existing residence behind the proposed hotel on Wazee street. The project will be reviewed by the LDDRC on May 4th, and it has staff's recommendation of approval:

[DenverInfill]

I'm getting strong Thompson Hotel and The Fitzgerald vibes from this proposed design.

[SirLucasTheGreat]

That hotel design should be an instant approval for LoDo. Does anybody know what is going on with the Bell Tower project?

[wong21fr]

Originally Posted by SirLucasTheGreat

That hotel design should be an instant approval for LoDo. Does anybody know what is going on with the Bell Tower project?

Looks like the last action was in March for a ROW encroachment for a sewer connection, which also happens to be an outstanding item in the review process.


So, progress continues at a slow pace.

[TakeFive]

Somebody check out the drive-thru line as well as the line inside

https://kdvr.com/news/local/denvers-1st-in-n-out-burger-opens/

DENVER (KDVR) — Whether you want a Double-Double with just cheese or you opt for a burger fixed Animal Style, you can now find Colorado’s newest In-N-Out Burger location in Denver.

The Denver location opens at 4597 N. Central Park Blvd. on Friday at 10:30 a.m.

[Fritzdude]

Originally Posted by SirLucasTheGreat[URL="https://www.axios.com/local/denver/2023/04/26/denver-downtown-skyline-development-skyscrapers"

https://www.axios.com/local/denver/2023/04/26/denver-downtown-skyline-development-skyscrapers[/URL];9929770]Here's a rendering of the new Amacon project

Wait…. what..? Do I understand this correctly? Amacon is currently building the 491 dual tower condo on the old Shelby site. However, they’re also proposing an additional two tower condo building on the adjacent site? That would be fantastic!

https://www.axios.com/local/denver/2023/04/26/denver-downtown-skyline-development-skyscrapers

[rds70]

One River North - April 30, 2023:

[rds70]

Tower crane is up at the Sports Castle Lofts site:

[rds70]

Another rendering of the proposed Amacon project at 18th and Welton:

[wong21fr]

Originally Posted by rds70

Another rendering of the proposed Amacon project at 18th and Welton:

Wow. Just imagining another 5-6 blocks of this type of development downtown.

[laniroj]

Originally Posted by wong21fr

Wow. Just imagining another 5-6 blocks of this type of development downtown.

^Amacon could single handedly revive downtown residential and retail. Maybe the City should just give them $50 million to do another 2,000 units. I'd think $50 million would cover any hesitancy/errors on Amacon's part and the City would get the money back within 3 years of completion based on their 2022 per person budget revenue of $5,271 (assuming 1.6 people/unit). If only Cities thought like that....

[TakeFive]

I wouldn't have thought it was possible

Originally Posted by Brainpathology

Also using death rates in red or purple states after the politicization of medical science (which the, in general, imbecilic tendencies of certain grey tinted voting blocks will enhance the effects of) is maybe going to be transient. I remember reading an article I can't locate now that speculated that "vaccine hesitancy" (which should be written as "stupidity") had likely caused additional COVID deaths in FL equivalent to Desantis' first election win margin - which I believe was around 30k votes or so.

Though that being said.. I agree with you that it should definitely be celebrated from, sure, an "economic" stand point.

But Gov Desantis is even worse than Trump. The guy is obsessively petty and a micro manager. At least Trump is 'visionary' even if his visions are crazy. Desantis by comparison is boring, not inspiring.

I saw where your buddy, Peter Thiel, is going to boycott donating for the 2024 elections; he's unhappy with the party's focus on cultural issues. I guess that's one thing we have in common.

My Republican conservative late night talker (in Phoenix) from Tampa Bay knows a lot of Florida's politicos. He mentions that many of them are scratching their heads with Desantis's fight with Mickey Mouse. My guess is that Mickey Mouse slays the Desantis dragon.

Just being totally candid but if somehow Nikki Haley were to win the Republican presidential nomination that would be an easy vote for me. As much as I love Biden I'm also among the many that doesn't want to see Four More Years.

So it will be interesting to see how all the 'old folks' vote.

[TakeFive]

I'm happy to say that I've never heard of Zeihan

Originally Posted by mhays

I understand the worker/dependent balance point (and listen to too many videos by Zeihan and others), but economically it really depends what you're counting.

From a development perspective, they're a big and important factor in household counts.

Same with kids. Their numbers affect the volume of school construction most notably.

Really it boils down to both being net sinks economically, but still increasing real estate needs. In balance, we probably spend a larger percentage of total economic activity on buildings, even though doing so is a strain on funding borne by the workforce.

I'm content to rely on the Wisdom that comes with 'maturity.'

But give wong props for being familiar with the data that I wasn't even aware of. It turns out that the Census Bureau tracks the migration of Retirees. Thanks to a CNN piece I also learned that SmartAsset has been using that data to analyze retirement populations for many years.

Where Retirees Are Moving – 2023 Study
APR 17, 2023 by Patrick Villanova, CEPF

Think Sprawl - It's not a Zero Sum Game

Retirement communities are easily a Net Positive. Their best attribute is that they provide stability. They do attract lots of medical facilities so far as those economics go but aside from basic infrastructure they're mostly not a burden, they're low crime areas with slow traffic etc. They do provide jobs for many landscape maintenance workers.

For Retirement areas like Sun City in AZ there's no back yards; instead they have common grassy areas with lots of lemon and orange trees (yes, they're edible). The trees are a nod to their history of once being lemon and orange tree orchards.

Think Affordability

I wasn't aware until I read SmartAsset that last year Mesa, AZ was the top city for new retirement growth. I happen to pick up a family from Canada recently who mentioned they have a relative who retired to a Mobile Home Park in Mesa and loves the living.

Many decades ago Mobile Homes became a popular affordable option in the desert. There must be many thousands of these especially in Phoenix and Mesa both cities with lots of land. Many have swimming pools and grassy park areas and older 'Parks' have mature trees and nice landscaping providing lots of nice shade. I've been in and out of many mobile home parks and my observation is that vey normal people live there.

It's less about a density debate as it is having a healthy supply of affordable options that grew with the area.

At least in the desert, retirement areas don't subtract from a better use of the land. Instead there's plenty of land for all manner of demographics and uses.

[TakeFive]

Originally Posted by SirLucasTheGreat

Here's a rendering of the new Amacon project.

I happen to pick up some guys from B.C. I believe they said they lived north of Vancouver. I brought up Toronto-based Amacon and Denver etc. But they wanted to set the record straight. Amacon is based in Vancouver and they started talking about the the people and history.

Googling can be fun.

Is Amacon a good developer?

With a spectacular portfolio of landmark developments in British Columbia, Ontario, Alberta, and Colorado. Amacon has established a highly regarded reputation for setting the standard in long term value with each and every development.

Who owns Amacon development?

Amacon is a privately-held, Canadian real estate company that was established in 1959 by Amalio DeCotiis, shortly after arriving in Canada from his native Italy. His first building was a 3-storey woodframe rental apartment in North Vancouver that the DeCotiis family still owns today.

[TakeFive]

Move into your new studio apartment August 1st



The Mercer Apartments - 2059 19th St






Images courtesy Greystar

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Receive 2 weeks free and a $3000 Gift Card when you lease one of our urban flats!

Side Pocket

Greystar Ordered To Pay $860M After Fatal Crane Collapse
April 27, 2023 By Dees Stribling, Bisnow National

The jury found that Greystar, which is also the largest U.S. apartment manger, bore some responsibility for the incident. During a thunderstorm in June of that year, a tower crane at a new Greystar apartment development collapsed into the neighboring Elan City Lights apartment complex.

The crane crashed through Smith's apartment, killing her. Five other people were injured in the incident. Smith's parents were the plaintiffs in the suit.

[TakeFive]

You remember Mr. Broe, presumably
(You can call me Patrick)

Country Club Towers II & III Named Denver’s Best Luxury Apartments

Located in the heart of Denver, at 1101 E. Bayaud Avenue, Towers II & III is a 552-unit luxury apartment community that combines architectural innovation with unmatched personal and professional services including a 5,000-square-foot spa and fitness club... The iconic two-building structure delivers a million square feet of premier luxury living to Denver.

Image courtesy Broe Real Estate Group

https://www.bizjournals.com/denver/news/2023/05/08/broe-real-estate-cherry-creek-multifamily.html

Broe Real Estate Group, a division of The Broe Group, filed a concept plan recently for 50 S. Steel St., a large office building across from the Cherry Creek Shopping Center.

Plans indicate that Broe wants to tear the building down and build a 722,500-square-foot structure with 378 residential units. The proposed building would also come with 4,000 square feet of retail, 5,000 square feet for eating and drinking establishments and 611 total parking spaces.

[Darius C]

I am glad to hear that the land use code proposed by Gov. Polis is going nowhere:

https://www.denver7.com/news/politics/sw...ies-in-last-hours-of-legislative-session

A less heavy-handed proposal could have a chance in the next legislative session.

[SirLucasTheGreat]

You might be a crowd of one in this forum celebrating the death of that bill.