DENVER | Main Development Thread #6 - Page 204

RyanD · #**4061** Posted **May 19, 2015, 4:55 PM**

Quote:

Originally Posted by Cirrus

LA and its 18 million people is always going to have more cool stuff than Denver. But Denver is a way better city than Nashville, 2 or 3 nice buildings notwithstanding.

Quote:

Originally Posted by bunt_q

Yeah, but I'll bet you can buy a condo in both Los Angeles and Nashville. Not the case in Denver.

I was more going for the whole condo construction thing. I think there was a time where we, Denver, were cooler than LA in our downtown core infill and development. 18 million (keeping steady population) versus barely 3 million (spiking population) is a ludacris comparison, I know, but, here in Denver, we can definitely support what DTLA is doing.

Example - 3000 condo units going up in DTLA can be done in Denver. We just... Can't and won't which sucks.

Quote:

Originally Posted by DenvertoLA

Yeah Downtown LA is actually one of the cheaper places to buy/rent in the LA atm

Yeah LA and Denver are actually getting on par with each other as far as renting goes. Not everybody likes LA but beach, mountains, and public transit improvements leaps and bounds above what Denver is doing, well you know... There's a reason why there are 18 million people there.

TakeFive · #**4062** Posted **May 19, 2015, 5:02 PM**

Condos?
You want condos?
How 'bout a hundred condo towers?

March 24, 2015 By Peter Zalewski
"100 new condo towers now under construction..."

DenvertoLA · #**4063** Posted **May 19, 2015, 7:48 PM**

That's crazy! Especially when Miami is set to be one of the first cities to get flooded my sea level rise.

corey · #**4064** Posted **May 19, 2015, 8:22 PM**

So I guess the glut of condos in Miami from the last building boom has been turned around? Probably from rich Latin Americans, Europeans, and Canadians and New Yorkers bargain shopping.

DenvertoLA · #**4065** Posted **May 19, 2015, 10:21 PM**

Quote:

Originally Posted by RyanD

Yeah LA and Denver are actually getting on par with each other as far as renting goes. Not everybody likes LA but beach, mountains, and public transit improvements leaps and bounds above what Denver is doing, well you know... There's a reason why there are 18 million people there.

Ehhh if you are excluding Santa Monica, Venice, B-hills,Westwood, Brentwood etc. haha

comoneymaker · #**4066** Posted **May 20, 2015, 3:01 AM**

Quote:

Originally Posted by corey

So I guess the glut of condos in Miami from the last building boom has been turned around? Probably from rich Latin Americans, Europeans, and Canadians and New Yorkers bargain shopping.

I would go with incoming Cubans lol

rds70 · #**4067** Posted **May 20, 2015, 4:18 AM**

A building permit has been submitted for this apartment project at 1781 York Street - 212 units:

TakeFive · #**4068** Posted **May 20, 2015, 4:40 AM**

rds70... What a great location.

Never mentioned this before but I much prefer balconies that are recessed like these. It's much nicer for the residents too. Looks fine and dandy.

TakeFive · #**4069** Posted **May 20, 2015, 4:49 AM**

Quote:

Originally Posted by corey

So I guess the glut of condos in Miami from the last building boom has been turned around? Probably from rich Latin Americans, Europeans, and Canadians and New Yorkers bargain shopping.

Huge inflow of capital from South America, especially Brazil and Argentina but some other countries too. Also from Europe, Eastern Europe including Russians.

CharlesCO · #**4070** Posted **May 20, 2015, 6:12 AM**

That looks like One City Block Jr. Is it the same developer by any chance? They have similar architecture and what appears to be a similar strategy of filling a surface parking lot in a similar part of town.

wong21fr · #**4071** Posted **May 20, 2015, 4:00 PM**

Quote:

Originally Posted by CharlesCO

That looks like One City Block Jr. Is it the same developer by any chance? They have similar architecture and what appears to be a similar strategy of filling a surface parking lot in a similar part of town.

No. Redpeak did One City Block and Shea Properties (champion of sprawling suburban developments) is developing 1781 York.

I'm hoping that Redpeak's next development will be aimed at the empty lot they have at 14th and Glenarm.

urbanAcheiver · #**4072** Posted **May 20, 2015, 5:50 PM**

Quote:

Originally Posted by wong21fr

No. Redpeak did One City Block and Shea Properties (champion of sprawling suburban developments) is developing 1781 York.

I'm hoping that Redpeak's next development will be aimed at the empty lot they have at 14th and Glenarm.

You gotta think they're losing a lot of potential money if they're only using this lot for overflow at 1600 Glenarm. Fortunately this announcement gave some optimism for a development. http://www.redpeak.com/wp-content/upload...ing-Lot-Purchase-14th-and-Glenarm_pr.pdf

mhays · #**4073** Posted **May 20, 2015, 6:52 PM**

I can understand a "hold" mindset for Downtown Denver, for mostly positive reasons.

For starters, land in Downtown Denver should be worth a lot more as the city densifies.

On the downside, some developers are obviously pausing to think about the oil thing.

As Denver densifies, typical parking ratios are likely to drop, potentially saving a lot of money in 2025 vs. 2015, assuming there's no clampdown on above-grade garages.

Condos are unique in that their entire incoming revenue is determined (effectively) at the point when homes are pre-sold, vs. incremental changes in rental income over decades. That means timing is infinitely more important. I bet some property owners are waiting for the right timing relative to liability, market prices, etc.

Fritzdude · #**4074** Posted **May 20, 2015, 7:44 PM**

Looks like the property being re-developed at 30th and Blake in RiNo is going to look like this:

http://www.cityfeet.com/cont/ForLease/LN19194328/3040-Blake-Street-Denver-CO-80205

Blake is going to be a nice little walking street before long. The new LightRail stop is going to accelerate a lot of options for the area.

corey · #**4075** Posted **May 20, 2015, 8:11 PM**

Speaking of 14th Street. I can't wait to see the old Meininger's building torn down and the site redeveloped. The building has been vacant for like 20 years and it just bugs me every time I see it. Denver is very lucky to still have only a few decrepit buildings in its downtown. A lot of cities, LA included, have a lot of vacant run down buildings in their downtowns. Two other buildings that bug me are the Cottrell's building and the old luggage store on Stout near 16th. I heard the Cottrell's building may be completely re-done, like the burger place at 12th Ave and Broadway. Does any one know more about this? The luggage store is a historic building and would make a great restaurant, hair salon/day spa, small office or something. I wouldn't be surprised if the Dikeaou's (sp?) own some of this buildings and are content to let them stay eyesores like their Colorado Building. The crazy mix of Victorian and Art Deco of that building would make an awesome hotel or lofts.

DenverPoke · #**4076** Posted **May 20, 2015, 10:29 PM**

Quote:

Originally Posted by rds70

A building permit has been submitted for this apartment project at 1781 York Street - 212 units:

There is now fencing around the entire property. They must have paid significant money to acquire all of those properties, impressive.

corey · #**4077** Posted **May 21, 2015, 12:28 AM**

1781 York St will be terrific for that area. Much better than what is there now. It is nice to see City Park get more surrounded by apartments and condominiums. If I had the money I would love to live at the Pinnacle. The views must be amazing and I could walk my dogs in the park every day. From what I read though, the City Park homeowners are some of the worst nimbys in town.

mojiferous · #**4078** Posted **May 21, 2015, 3:37 AM**

Quote:

Originally Posted by corey

…the old luggage store on Stout near 16th.

I just walked by this place and there are permits up in the window, it looks like they are finally renovating it

TakeFive · #**4079** Posted **May 21, 2015, 6:52 AM**

Thinking of new condo construction, specifically downtown type condos, Denver isn't the only place with issues. LINK

Bonus: Holland Partner Group who is of course active in Denver (The Platform, 17W, Belleview Station, Belmar etc.) because they were getting unsolicited offers decided to market their 40-story apartment in Seattle. Selling price expected to exceed $600,000 per unit.

mhays · #**4080** Posted **May 21, 2015, 3:06 PM**

Yes we certainly do have issues in Seattle. That's related to a lot of my comments.

As for Holland, you're lucky to have them. They've been a big player here for a while, and so far everything they do is happening like clockwork. Plus they're good on the parking ratio thing I've been harping on. I think that tower has a ratio of 0.6 or so.