DENVER | Main Development Thread #6

[DenverPoke]

Originally Posted by DownhomeDenver

Oh...and the new project datasheet was released last week too. There's a new development plan that was filed for 999 17th St too.

Should be an interesting year for development news. I'm not expecting much in the way of new project announcements in 2015 although if the construction defect law is amended I think a couple of condo projects could be in the pipeline.

[DownhomeDenver]

Originally Posted by DenverPoke

Should be an interesting year for development news. I'm not expecting much in the way of new project announcements in 2015 although if the construction defect law is amended I think a couple of condo projects could be in the pipeline.

Mmmm condo towers would be very welcomed

[urbanAcheiver]

Originally Posted by wong21fr

Anyone realize that we now have two 21-story, a 22-story, a 25-story, and a 34-story building U/C downtown right now? Plus a 40-story project that should break ground in Q2?

I'm not complaining here but can we get a developer to develop those shit stains at 18th and Market as well as the one on 20th and Market? I don't understand why there isn't any interest to fill those gaps.

Plus I'd love to see the patrons at the Viewhouse have a hard time finding parking spaces.

[enjo13]

One interesting tidbit:

The building at 16th/Welton has a "notice of designation of non-historic status". I can only assume that if someone is pursuing that designation that they want to redevelop it?

[wong21fr]

Originally Posted by urbanAcheiver

I'm not complaining here but can we get a developer to develop those shit stains at 18th and Market as well as the one on 20th and Market? I don't understand why there isn't any interest to fill those gaps.

Plus I'd love to see the patrons at the Viewhouse have a hard time finding parking spaces.

In short: the current landowners are very difficult to work with.

The lot at 20th and Market is owned by Dikeou Investments. Dikeou is a name synonymous with a) not having developed anything in decades, and b) never selling the parcels they own.

One of the lots is owned by Blackrock, who foreclosed on the parcel when Corum couldn't make payments. That's going to take a pretty large developer to wrestle that parcel free. The other is owned by an entity called Becker LLC and is likely one of those family-owned, absentee parcels who are demanding such a large sum of money to make any project uneconomical.

[DenverPoke]

Originally Posted by enjo13

One interesting tidbit:

The building at 16th/Welton has a "notice of designation of non-historic status". I can only assume that if someone is pursuing that designation that they want to redevelop it?

Please happen, I despise that building! How about an Apple Store here on the ground floor with office/residential above.

[mr1138]

Originally Posted by DenverPoke

Please happen, I despise that building! How about an Apple Store here on the ground floor with office/residential above.

I remember years back now a (probably not very serious) proposal for this site that looked like something out of Dubai. Something very tall could go there.

I've always thought an Apple store would work best on a lot like this one. I'm not sure that much else is possible on such a small lot (except perhaps something like the small office building proposed at 15th and Market).

Something along the lines of these Apple stores would be sweet here.

[seventwenty]

Plans to redo DIA's Jeppeson Terminal are back on

Originally Posted by Denver Post

Denver International Airport is again exploring giving the Transportation Security Administration's massive security checkpoint operations the boot from the "Great Hall" on level 5 of the airport's Jeppesen Terminal to create more space for revenue-generating shops and restaurants.

The airport Wednesday issued a request for qualified potential bidders to "help create and implement an innovative vision and public-private business arrangement with the city ... for the redevelopment of the Great Hall in the Terminal."

Restaurants and shops generate almost half of the airport's operating revenue, according to project documents.

In addition to relocating TSA checkpoints, the airport plans to reconfigure airline counter and passenger ticketing areas, according to project documents.

The areas being considered for redevelopment make up 435,546 square feet of the Great Hall's total 815,546-square-foot area. The Great Hall includes 502,193 square feet on level 5 and 313,353 square feet on level 6.

Potential bidders also have an additional 399,150 square feet they can use creatively in their proposals, including a 77,000-square-foot area on level 4 of the hotel transit center "designed to accommodate a future security screening checkpoint of approximately 18 lanes."

[TakeFive]

Originally Posted by DenverPoke

Should be an interesting year for development news. I'm not expecting much in the way of new project announcements in 2015 although if the construction defect law is amended I think a couple of condo projects could be in the pipeline.

Always liked 999 17th Street. The largest component is residential and since you bring it up it occurred to me that they may be considering condos or a combination of both condos and apartments. Condos were originally proposed back in 2008. The office portion is only 100,000 square feet which presumably means little risk in that category.

enjo13... Other than sentimental history, the Cottrell building doesn't look to have any historical value.

wong... You're on top of it. Sometimes what changes minds is an inheritance situation among siblings. Blackrock can choose to land bank or even be a part of any development in some form or fashion.

[RyanD]

Originally Posted by DenverPoke

an Apple Store here on the ground floor with office/residential above.

We need to get a Target / Grocer right there. That would be much more prime land use than an Apple store... Throw Apple in the Pavilions.

[denconyny]

Originally Posted by DownhomeDenver

Oh...and the new project datasheet was released last week too. There's a new development plan that was filed for 999 17th St too.

The 999 17th Street development would be welcome to cover up the less than pretty surface parking lot that exists now on this intended development site. Also, it's only a 9 story office building that would be added here under the current proposal - the 28 story building here with this development would be residential.

Originally Posted by DenverPoke

Please happen, I despise that building! How about an Apple Store here on the ground floor with office/residential above.

Just a different way to look at this, but there are so many empty lots (surface parking lots) in and around DT to develop any range/styles of buildings. However, this basically represents a kitschy past of Denver architecture and I think that it would be sort of a shame to tear it down. I get a chuckle out of having something so gaudy as this among our architecture....

Originally Posted by wong21fr

In short: the current landowners are very difficult to work with.

The lot at 20th and Market is owned by Dikeou Investments. Dikeou is a name synonymous with a) not having developed anything in decades, and b) never selling the parcels they own.

One of the lots is owned by Blackrock, who foreclosed on the parcel when Corum couldn't make payments. That's going to take a pretty large developer to wrestle that parcel free. The other is owned by an entity called Becker LLC and is likely one of those family-owned, absentee parcels who are demanding such a large sum of money to make any project uneconomical.

If the city really wanted/needed to develop these lots, eminent domain might be a way to get these lots? Adding litigation costs for the property owners would certainly make keeping such properties status quo suddenly uneconomical? Short of eminent domain, other creative measures could include raising taxes or imposing other fees on such properties. Somehow, I don't see the city's current political composite as too creative or even aggressive with these matters.

And of course with that, is the demand even currently needed for these lots? I'd think that as now maybe there are just too many other empty lots whose owners could be much more flexible/willing to change?

[DenverPoke]

Originally Posted by RyanD

We need to get a Target / Grocer right there. That would be much more prime land use than an Apple store... Throw Apple in the Pavilions.

Ya if you could fit one similar to the Portland Galleria Target in that space that would be way better, not sure that is enough of a footprint though.

[RyanD]

Target doesn't need that big of a footprint... The West Hollywood Target is quite small but it's still suits all my needs when I'm out there.


http://looplink.orangecounty.colliers.co...?LID=18307485&STID=colliers/orangecounty

[seventwenty]

Serious question, Ryan: You're on vacation when you go to CA. What vacation needs does the West Hollywood Target meet? How do those needs differ from your day to day needs?

[RyanD]

Originally Posted by seventwenty

Serious question, Ryan: You're on vacation when you go to CA. What vacation needs does the West Hollywood Target meet? How do those needs differ from your day to day needs?

-It's walkable from my sister's place. Huge plus.

-When I go to CA / vacation I usually never bring my shampoo, soap, contact solution, etc etc so I get stuff for the week like I normally would here.

-It's Target. Consistency. I always know they'll have what I need.

[bunt_q]

Originally Posted by denconyny

T Short of eminent domain, other creative measures could include raising taxes or imposing other fees on such properties. Somehow, I don't see the city's current political composite as too creative or even aggressive with these matters.

You run into problems with differential taxation under Colorado law. But are you kidding, DURA is plenty aggressive when it comes to property acquisition. But there has to be a private partner and a market for what they do.

Same problem as with the 18th/Market lots, your only options right now, unless you can swing a hotel, are office and rental. There's only so much rental demand at LoDo/CBD price points, and presumably Union Station is sucking up most of that right now. When you completely rule out for-sale housing, it really is a serious constraint on your options for putting together a mixed use project.

[bunt_q]

Originally Posted by seventwenty

Serious question, Ryan: You're on vacation when you go to CA. What vacation needs does the West Hollywood Target meet? How do those needs differ from your day to day needs?

I'm basically a day to day shopper too. I've found myself in more than one urban target while traveling, usually just for random stuff - contact solution, a pen and pad of paper, a soda, superglue. Not the home furnishings stuff, but I'd still poke into a Target any day over say, a Walgreens, for pretty much anything.

[RyanD]

A Denver City Target would make an absolute killing. But, as said in the past, all my sales tax dollars are going to Glendale right now... Flagship King Soopers / Target.

EDIT: Also, I'm surprised Target didn't get on the DUS thing... SPEAK OF, remember the Starbucks at DUS conversation we were having a long time ago. There's now two retail spaces opening at 1900 16th Street. Potbelly and Starbucks. DUS has your bloody Starbucks now.

[DownhomeDenver]

Originally Posted by bunt_q

I'm basically a day to day shopper too. I've found myself in more than one urban target while traveling, usually just for random stuff - contact solution, a pen and pad of paper, a soda, superglue. Not the home furnishings stuff, but I'd still poke into a Target any day over say, a Walgreens, for pretty much anything.

Superglue? Pen and paper? What the hell...are you MacGyver?

[RyanD]

Originally Posted by DownhomeDenver

Pen and paper?

Gotta document them tower cranes in other cities...

Originally Posted by DownhomeDenver

Superglue?

I actually went to a DTLA Target for this when I was out there in December. A clip on my camera broke and it saved my life / strap.