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  #14441  
Old Posted Jun 10, 2023, 12:38 AM
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bunt_q bunt_q is offline
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Nevermind.

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  #14442  
Old Posted Jun 10, 2023, 4:25 PM
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wong21fr wong21fr is offline
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Quote:
Originally Posted by wwmiv View Post
Those two things had and have supermajority support in both parties in Congress and ARE NOT stupid things.

Your ability to make money indiscriminately IS NOT AND NEVER WILL be placed above the ability of our nation and her people collectively to defend ourselves against hostile actors and in the favor of allies—in fact, your ability to prosper is contingent upon our ability to do make these choices, for both you and your descendants.

Anything other interpretations mean that you have lost the plot and care more about your own narrow self-economic-interest than the interests of our people.
Bah. 99% of the folks on here wouldn't know what it takes to defend this nation. I can think of two who have had the intestinal fortitude to do so.
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  #14443  
Old Posted Jun 11, 2023, 11:31 PM
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Three RiNo office buildings headed for the finish line

T3 RiNo

6 Stories, 235,000-Square-Foot Mass Timber

Here's a fun promo video for this project

Video Link


The Current
3615 Delgany St

12 Stories and 238,000 Sq Ft

Note: This project is winding down and DenverInfill should have some nice photos coming soon.

Paradigm River North
3400 Walnut St

8 Stories, 200,000 Sq Ft, 40% leased

These three projects
are all projected to be completed and available by the end of the year. The three buildings total 673,000 Sq Ft.

The State of Office Space

What's-his-face with JLL said the 'bottom is in' for the office market. At least Chicago had positive absorption this quarter. At 65% occupancy they still need a lot of help.

There's lots of confusion, mixed signals for what's ahead. Some suggest that companies in the 'tech startup' category may run into a brick wall from a scarcity of additional VC funding.

These three new RiNo projects should be well positioned to capture new leases though.
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  #14444  
Old Posted Jun 12, 2023, 2:53 PM
laniroj laniroj is offline
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Originally Posted by mhays View Post
But state and local agencies are often much easier. They have a lot of rules, but probably the majority of the top 30 local GCs will propose for and win their fair shares.
If you look at major projects awards lists - ie anything in the millions moreso than a small contract here and there for the never ending everyday norm gubment needs, there's MAYBE 5 contractors/consultants who compete for state and major local work (of all kinds, not just construction). Not sure what it's like in Washington, but that kind of competition certainly isn't normal here in Colorado, to my knowledge. Qualification, I do not apply for any type of state/local work.
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  #14445  
Old Posted Jun 12, 2023, 3:26 PM
twalm twalm is offline
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Drove by this site recently and the hole in the ground is HUGE


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Originally Posted by Denver View Post
Here are some renderings of the new tower U/C at Belleview Station (4885 S Quebec Street)



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  #14446  
Old Posted Jun 12, 2023, 8:24 PM
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Originally Posted by twalm View Post
Drove by this site recently and the hole in the ground is HUGE
Did it look like an 'active' construction site?
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  #14447  
Old Posted Jun 12, 2023, 8:26 PM
Whereveryougo Whereveryougo is offline
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Yes, this one is definitely under construction and the site is so huge I incorrectly assumed it was two buildings.

Belleview station is an interesting one. I'm sure drivers i.e. the Greenwood and Cherry Hills residents moan all the time about how bad the on ramp is and that capacity needs to be increased, as someone who has to cross Belleview a couple of times each week by foot I'd argue Belleview needs a major road diet.

Last edited by Whereveryougo; Jun 12, 2023 at 8:35 PM. Reason: added thought
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  #14448  
Old Posted Jun 12, 2023, 8:59 PM
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For your curiosity
Quote:
Originally Posted by Whereveryougo View Post
Yes, this one is definitely under construction and the site is so huge I incorrectly assumed it was two buildings.

Belleview station is an interesting one. I'm sure drivers i.e. the Greenwood and Cherry Hills residents moan all the time about how bad the on ramp is and that capacity needs to be increased, as someone who has to cross Belleview a couple of times each week by foot I'd argue Belleview needs a major road diet.
I-25/Belleview Interchange System Study

I-25 & Belleview Avenue Interchange Improvement Study

Edit: What allowed Belleview Station to be what it is partly goes to that site being a 'dog' until the station happened.
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  #14449  
Old Posted Jun 12, 2023, 10:19 PM
mishko27 mishko27 is offline
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Quote:
Originally Posted by Whereveryougo View Post
Yes, this one is definitely under construction and the site is so huge I incorrectly assumed it was two buildings.

Belleview station is an interesting one. I'm sure drivers i.e. the Greenwood and Cherry Hills residents moan all the time about how bad the on ramp is and that capacity needs to be increased, as someone who has to cross Belleview a couple of times each week by foot I'd argue Belleview needs a major road diet.
There's a new crane on the site, so the construction is visibly active now.

I don't think the traffic is too bad, tbh. But all of my older neighbors complain about how much is being built around here, while that is the exact reason why we bought a house in DTC with my husband. Belleview station is lovely, now if only some infill could happen on the east side of Arapahoe station...
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  #14450  
Old Posted Jun 13, 2023, 2:19 PM
laniroj laniroj is offline
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Originally Posted by mishko27 View Post
...Belleview station is lovely, now if only some infill could happen on the east side of Arapahoe station...
Centennial needs to proactively rezone that. They have enough ground to accommodate that outdated commercial/industrial elsewhere along Arapahoe out to Parker Road and would be wise to rezone that Arapahoe/I-25 corridor to accommodate high density residential. No existing neighbors to oppose and complain NIMBY this or that for a rezone there. I, for one, have been down that road and been told no...Cities are TERRIFIED of losing commercial tax base. There's also the airport influence area which encroaches I believe roughly to the north south line of Havana.
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  #14451  
Old Posted Jun 14, 2023, 3:22 PM
twalm twalm is offline
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Quote:
Originally Posted by Whereveryougo View Post
Yes, this one is definitely under construction and the site is so huge I incorrectly assumed it was two buildings.
I think I saw somewhere that they are building the first of two buildings on the lot. So the site as-is will eventually be two buildings.
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  #14452  
Old Posted Jun 16, 2023, 12:03 AM
mhays mhays is offline
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Quote:
Originally Posted by laniroj View Post
If you look at major projects awards lists - ie anything in the millions moreso than a small contract here and there for the never ending everyday norm gubment needs, there's MAYBE 5 contractors/consultants who compete for state and major local work (of all kinds, not just construction). Not sure what it's like in Washington, but that kind of competition certainly isn't normal here in Colorado, to my knowledge. Qualification, I do not apply for any type of state/local work.
In the greater central/south Puget Sound area, I count over 30 general contractors who have recently won public school projects over $10m (last 7-8 years).

That said, the list looks very different in Olympia vs. Everett. And it's really different for bid work vs. GC/CM or DB.

And any given project might just get a few proposals in the busy times, sometimes not even that.

That's just one project type. Roads won't have a ton of crossover with schools.
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  #14453  
Old Posted Jun 17, 2023, 6:41 PM
gopokes21 gopokes21 is offline
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Quote:
Originally Posted by laniroj View Post
Centennial needs to proactively rezone that. They have enough ground to accommodate that outdated commercial/industrial elsewhere along Arapahoe out to Parker Road and would be wise to rezone that Arapahoe/I-25 corridor to accommodate high density residential. No existing neighbors to oppose and complain NIMBY this or that for a rezone there. I, for one, have been down that road and been told no...Cities are TERRIFIED of losing commercial tax base. There's also the airport influence area which encroaches I believe roughly to the north south line of Havana.
Centennial is one of the most difficult places in the metro to develop, up there with Lakewood. They pretend to support density, infill and affordable housing in the name of best practices; then, anywhere it might go, the answer is always "no not there because blah blah blah."

Propose elevator served apartments near the airport - the answer is no because of the airport noise overlay. This is especially ironic for senior housing, who might be less bothered by the noise, but the answer is still no. You can only develop commercial around the airport.

Propose any residential at all in "The District" fka Jones District. The answer is no because Centennial is enforcing a moratorium on residential there until more commercial/office is built.

Propose elevator-served infill adjacent to an existing neighborhood and watch the NIMBY come out of the woodwork.

Propose infill around one of their precious shopping malls. The answer is no because of traffic, parking, blah blah blah.

The bottom line is they don't want residential infill. They only want commercial and office development, and they don't care about post-Covid trends. They are going to die on that hill.
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  #14454  
Old Posted Jun 17, 2023, 11:42 PM
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TakeFive TakeFive is offline
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Originally Posted by gopokes21 View Post
The bottom line is they don't want residential infill. They only want commercial and office development, and they don't care about post-Covid trends. They are going to die on that hill.
Centennial doesn't really have that much commercial. They lack both the NE and SW corners of Arapahoe Rd and Parker for example. I recall that So Clinton is unincorporated and north of Arapahoe along I-25 is Greenwood Village isn't it?

NIMBY-ism a problem certainly.

Centennial OKs SouthGlenn redevelopment plan to add housing, replace Macy’s and Sears buildings
December 15, 2021
Quote:
After nearly three years, one of the most prominent and contentious civic issues in Centennial has been decided with the city council’s approval of a plan to dramatically reshape Centennial’s flagship shopping center. Property developers pushed the plan in an attempt to breathe more life into the outdoor mall and residential complex, but it met opposition for years from some area residents.
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  #14455  
Old Posted Jun 19, 2023, 2:48 PM
laniroj laniroj is offline
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Originally Posted by TakeFive View Post
Centennial doesn't really have that much commercial. They lack both the NE and SW corners of Arapahoe Rd and Parker for example. I recall that So Clinton is unincorporated and north of Arapahoe along I-25 is Greenwood Village isn't it?

NIMBY-ism a problem certainly.

Centennial OKs SouthGlenn redevelopment plan to add housing, replace Macy’s and Sears buildings
December 15, 2021
As far as small communities in the 100k people range goes, Centennial probably has the best diversified tax base in the state. They have an extremely high allocation of commercial/industrial property tax base compared to the size of their population AND relative as an allocation of overall land use. They also have a mall (albeit struggling a bit) and one of the busiest retail/commercial corridors in the state on Arapahoe road. They don't do things because 1) they don't have to and 2) if they add residential, it will change their budget dynamics. This is how the leaders of Cities think now. Instead of doing what's best for people in general (like say housing for all or at least housing for most) they do what's in the best interest of the bureaucratic machine.

Far as airports go, the noise overlay thing is supposedly a real hindrance for residential uses because of some funding mechanism tied to # complaints affecting regional airport funding on the federal side. Ran into it in Broomfield once, just not sure I believed most of what I heard from the 'officials' and the hornets nest to figure out the specifics required more time than I have to waste.

Maybe a good topic to chase down for TakeFive? I know you love those rabbit holes and I'd be curious to see what you'd come up with.
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  #14456  
Old Posted Jun 21, 2023, 8:06 PM
coolmandan03 coolmandan03 is offline
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Quote:
Originally Posted by gopokes21 View Post
Propose elevator served apartments near the airport - the answer is no because of the airport noise overlay. This is especially ironic for senior housing, who might be less bothered by the noise, but the answer is still no. You can only develop commercial around the airport.
Can you imagine the dictator required to say "seniors have to live by the airport because they're hard of hearing..." Go back to China Xi. That's the same dumb thought that got Toledo Mayor Finkbeiner removed after suggesting in a meeting to move deaf people near the airport.
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  #14457  
Old Posted Jun 24, 2023, 6:31 AM
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TakeFive TakeFive is offline
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No Big Deal
So a little deal then?
Yeah, that fits

Mortenson Breaks Ground on Denver Headquarters in RiNo
June 15, 2023 - Mile High CRE


Image courtesy of Mortenson

Quote:
This week, Mortenson celebrated the groundbreaking of its four-story, 65,000-square-foot Denver headquarters at 3083 Walnut Street within Denver’s RiNo Art District.

The project is being developed, constructed, owned, and occupied by Mortenson. Mortenson will occupy roughly 37,000 square feet of the mixed-use building on the second and third floors, and the top and ground levels will be available for office and retail leasing, respectively.

Regarding downtown office space

A new reality for downtown Denver’s half-empty buildings: ‘The value’s not gonna go back to what it used to be’
June 23, 2023 By Sarah Mulholland - CPR News
Quote:
The one thing that is all but certain is that many office buildings are worth significantly less money now than they were before the COVID pandemic. Republic Plaza — the largest office tower in Colorado and an icon of the Denver skyline since it was built in the 1980s — is worth less than half of what it was valued at in 2012, according to loan documents for the property. That loss equates to hundreds of millions of dollars.
Nicely written piece by Sarah Mulholland; she sources material from Vivek Sah.
Quote:
Appraisals aren’t an exact science, and the building could eventually recover some of that value. But even so, it’s definitely not worth what it was just a few years ago, according to Vivek Sah, director of DU’s Burns School of Real Estate and Construction Management. The same holds true for much of the office real estate downtown, he said.

“The value's not gonna go back to what it used to be,” Sah said. “We are seeing [that] across all the markets in the country. It's not ever gonna be the same .… If you add what’s happening in our downtown in terms of homelessness and crime and other concerns, the downtown market is going to shift.”
Budget Blues Ahead - but not yet

From what I gather the City of Denver along with the state, also RTD is still benefitting from COVID Relief distributions which (afaik) go thru 2024. Likely, most of these $'s have already been allocated.

Vivek Sah points out that dropping RE values could have a significant impact on Denver's property tax collections moving forward.

There's $trillions in shaky RE loans across the country. Pieces may be a little problem, chunks may be a bigger problem. After recovering stock values recently the Regional Banks saw some fairly significant selling again this week. Who knows where this all ends up?
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  #14458  
Old Posted Jun 24, 2023, 7:17 AM
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........


Denver ranked one of worst-run cities in the country
Jun 21, 2023 By DJ Summers - KDVR
Quote:
DENVER (KDVR) — Denver spends more city money than it’s worth, according to a new report.

Financial adviser site WalletHub analyzed 149 of the largest cities in the U.S. to see which are the best run. The study asks the question of return on investment – how well do city services operate compared to how much the city spends? The results said Denver is one of the worst-run cities in the country, ranking 135 out of 149 cities, sandwiched between Philadelphia and Memphis. San Francisco is dead last.

It isn’t the quality of Denver’s city services that causes it to rank so low – they rank 63 – but rather the amount of money spent. Denver is tied with San Francisco, Atlanta, New York and Nashville for the 145th-highest outstanding debt per capita and has the 142nd-highest budget per capita.
What about Aurora, wong's favorite city.
Quote:
Other Colorado cities rank considerably higher than Denver, including neighboring Aurora. Aurora ranks 59th overall despite having nearly the same overall quality of city services as Denver, ranking 70th. Aurora simply spends less, with the 68th lowest budget per capita.
As bunt once suggested ask the voters to approve spending for this or that and they (almost always) approve.

I'll suggest one defense in Denver's behalf

Voters have approved spending for a lot of 'Urbanism' priorities which likely aren't appreciated by whatever statistics are used. Whether sidewalks or bike lanes etc if this is what Denver wants then they shouldn't (necessarily) be penalized for this.

OTOH the money spent for Homelessness compared to results and crime rates indicates Denver Needs a New Mayor - Here's to hoping.
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  #14459  
Old Posted Jun 24, 2023, 6:01 PM
mojiferous mojiferous is offline
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Originally Posted by TakeFive View Post

Denver ranked one of worst-run cities in the country
Jun 21, 2023 By DJ Summers - KDVR
You know your "study" has solid methodology when the results are almost perfectly sorted by population, population density, and have a easily readable bias for local politics.

As always, these clickbait-y things are crafted to appeal to a target demographic that will readily share it and are made to appear to be completely data-driven. But if you look closer, the methodology is questionable, the data is really questionable, and they don't have a data scientist on the study (probably because no one would sign off on it)

For example they used "perception of safety" numbers from numbeo.com, which gets its data from... feelings? who knows?

They also have share of homeless population as a factor in safety and not economy, which means that they already have a built-in bias of "homeless == crime" despite already having violent crime and property crime weighted heavily in safety.

They use school data from greatschools.org, probably because they never wanted to publish this study in a respectable journal and gaining access to less biased data sources on school performance is expensive and time consuming.

Infrastructure uses their own walk scores based on block length and intersection density (?) instead of using the NWI data or even Walkscore (but they mention them in the sources? Maybe they looked at the NWI data and decided that it would probably make places like DC and SF too positive)

And even worse "infrastructure" weights water quality and air pollution way lower than a "recreation" score (that is based on another wallethub study, no less) Recreation seems to have a higher weight in the scores than pollution, transit, and biking combined!

The best part is that a lot of these statistics indicate very little about the abilities or value of the local government. So much is based on the structure and infrastructure of cities that are governed by history or geography and not reflective of the current management. And the scores are built in such a way that helps smaller less-populated towns and hurts large population centers. Do you know why Casper WY has the lowest long-standing debt per capita? Have you been to Casper? They aren't exactly building new airports or convention centers or transit systems.

You might ask yourself "why would the scores be so weirdly weighted?" And the answer is, so they could make sure that places like Lincoln and Las Cruces are higher in the rankings than scary "liberal" places like LA or San Francisco or Denver. They got some numbers and adjusted them until they came out with results that confirmed that cities that met certain criteria were weighted up or down.

That's the long and short of this. They're interesting to dissect and analyze, but ultimately mean nothing - the bad part though is that people cite these as legit reasoning for moving to or doing business with a city, or use them as cudgels in elections or council meetings to push agendas. Guaranteed someone looked at this and thought "I am tired of the homeless and scared of crime and it is obvious that the problem is related to the city having so much debt."
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  #14460  
Old Posted Jun 24, 2023, 7:54 PM
mhays mhays is offline
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Thanks mojiferous for your sanity and perspective on this.
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