DENVER | Main Development Thread #6

[RyanD]

Originally Posted by mhays

Seattle's project is more like a second convention center a block from the first one. Combined they'll be closer to Denver's in size, and they'll handle big events. But the larger purpose is to be able to host one event while the other facility is in setup/takedown mode. The second facility will be a little larger than the first.

At least they know how to build real density and propose supertalls in Seattle...

[bunt_q]

Originally Posted by wong21fr

No, this is brand-new rendering wise, but the image they used is about 2008 or so. It's also a daytime shot that they turned into a sunset shot.

It reflects the addition of about 200K sq ft of new space with about 85,000 of that being new ballroom space on the roof of the convention center. The study that was done last year suggests that this is the kind of space needed to lure the mid-sized conventions as Denver can't compete with the McCormicks and Las Vegas's of the world- not to mention that the larger conventions sector seems to be on the decline.

We don't need to lure anything. We just need enough space to host a respectable beer festival that doesn't sell out in 45 seconds, and to grow comic con. The rest is secondary...

[Denver Dweller]

http://www.bizjournals.com/denver/blog/r...mA+ElKTwGoSbqOBYu5F/O7W7Amf&t=1443225604

[Denver Dweller]

http://www.denverpost.com/business/ci_28879697/market-street-buildings-bought-plans-renovation

[BG918]

Originally Posted by Denver Dweller

http://www.denverpost.com/business/ci_28879697/market-street-buildings-bought-plans-renovation

Great news. That is one of my favorite blocks of buildings downtown. I heard just last week that the owner of the parking lot at 16th & Market is taking offers to buy and redevelop it. And then you have the future redevelopment of Market Station across the street. From the article:

Across Market, talks around redeveloping Market Street station are underway, but remain under wraps.

Denver-based developers East West Partners and Continuum — forces behind Union Station redevelopment — said they have big plans for a full city block, which is public parking for the time being.

McHenry said whatever emerges will complement the Market Center project.

"Everything we hear about what they're exploring is a fabulous project that we will be delighted to be across the street from," McHenry said. "We think it's huge for furthering the presence for this block."

[DUPio]

http://magazine.du.edu/campus-community/...op-new-international-relations-building/

Dome of the Engineering building to be installed in the near future as well.

[TakeFive]

Some things should survive
Glad she has been restored to her rightful place in daily life.

Credit: Jeff Ball Photography

From Jeff Ball Photography:

Denver Diner is another iconic business in Denver, Colorado. From the corner of Speer and Colfax, this eatery hosts lots of late night patrons seeking comfort food.

This photo was taken as part of a photography series based on Colfax Ave

Never a regular but certainly a past patron. Somebody should drop by and tell us what they think of the restoration from their devastating fire.

[Denver Dweller]

http://www.bizjournals.com/denver/blog/r...mA+ElKTwGoSbqOBYu5F/O7W7Amf&t=1443479484

[LAM]

Originally Posted by TakeFive

Some things should survive
Glad she has been restored to her rightful place in daily life.

Credit: Jeff Ball Photography

From Jeff Ball Photography:

Didn't that used to be a White Spot many years ago?

[TakeFive]

Originally Posted by LAM

Didn't that used to be a White Spot many years ago?

It's (only) been the Denver Diner since 1990 and I think you're correct. I don't recall eating there though as I'd go to the old White Spot that used to be on South Broadway.

[TakeFive]

Tuesday Tulips

Courtesy Business Insider

Just for giggles, the first financial bubble is anointed as the Dutch Tulipomania in the 1600's.

So many bubbles

Oil & Gas - Most of the "frackers" have been riding along with sales that were hedged at higher prices. Those hedges are now running out or will run out over the next year. I read over the weekend that debt holders of riskier drillers were exchanging debt for higher priority convertible bonds (in the event of liquidation) for about 50 cents on the dollar. Some debt is fetching only about 20 cents on the dollar. Quite a haircut for some but at least reality is being managed.

China - is the elephant in the room. Clearly it's weaker and weakening quicker than most had believed. The question that rattles markets is can they engineer a soft landing or will it be a hard landing and what will it all mean?

Commodities - have been the biggest loser from China so far. Glencore Plc based in Zug, Switzerland looks like the poster child. In 2014, Glencore was worth more than $85 billion. According to Bloomberg Business:

The descent has been so swift that many investors are now wondering where it will end. As Glencore’s share price plunged by almost a third Monday, bringing its losses since March to 76 percent.

That's a Big Haircut.

The U.S. while not totally immune seems well insulated from most of the (potential) credit events. Construction and development is one of the big economic drivers. Because most of Denver's construction has been in or near the city's core and at a measured pace, it is less likely to be near being over-built than many places. Development should continue for the time being but bears watching.

I'm calling for three more groundbreakings by the end of the year.

[Denver Dweller]

http://www.businessden.com/2015/09/29/30m-project-to-recharge-jefferson-park-warehouse/

[Stonemans_rowJ]

Originally Posted by Denver Dweller

http://www.businessden.com/2015/09/29/30m-project-to-recharge-jefferson-park-warehouse/

Sounds like another stick and stucco box to add to Jefferson Park's collection of inspiring design...

[TakeFive]

Recently, Justin, Denver Urban Review, has been featuring smaller scale, for sale Townhomes, Row Homes and Condos. Most recently he featured a 10-unit towhnhome project in Edgewater already being framed with 7 units under contract. Before that he featured a 10-unit just west of City Park although it hasn't yet broken ground. Prior to that it was a 3-unit project in LoHi, 4 duplexes at 78 Logan to be completed early next year and 5 townhomes near Regis scheduled for a spring completion. A 20-unit condo project along Federal Blvd. is heading towards the finish line that is half sold. Lastly, there's the mixed use project on Blake Street appropriately called Backyard on Blake with 10 of the 14 units under contract.

BG918 (and others) have referenced similar projects in the DU area, Sloan's Lake and Jefferson Park neighborhoods.

[The Dirt]

I just got back from Toronto and holy hell, there's so much construction going on. It puts anything we have going on in Denver to shame in both volume and scale. It's mostly 50+ story condo towers, which is amazing. The urban feel of Toronto was also surprising. It's more populous than Chicago but, it's got a pretty easy going vibe to it. Also, there's a big trend of preserving facades. Basically, imagine the historical buildings in downtown on Champa being completely gutted and pop-topped with a 80 story condo tower. It was absolutely unreal. Now that I'm back, I can't help but look at Denver through a Toronto lens and feel even more frustrated at all of these 3 story "TODs" under scrutiny by every NIMBY crying about too much traffic.

[mhays]

Chicago is easily bigger than Toronto. But definitely Toronto is off the charts with construction. And if the large core isn't enough, it has dozens of substantial suburban highrise nodes.

[Scottk]

Originally Posted by The Dirt

I just got back from Toronto and holy hell, there's so much construction going on. It puts anything we have going on in Denver to shame in both volume and scale. It's mostly 50+ story condo towers, which is amazing. The urban feel of Toronto was also surprising. It's more populous than Chicago but, it's got a pretty easy going vibe to it. Also, there's a big trend of preserving facades. Basically, imagine the historical buildings in downtown on Champa being completely gutted and pop-topped with a 80 story condo tower. It was absolutely unreal. Now that I'm back, I can't help but look at Denver through a Toronto lens and feel even more frustrated at all of these 3 story "TODs" under scrutiny by every NIMBY crying about too much traffic.

Toronto is easily twice the population of Denver. That's like being surprised that Boise is much smaller than denver

[BG918]

Denver Cityscape has some new renderings for 1700 Wewatta. Is this really going to be more apartments? I thought of all places this could be condos. Personally I'm not a fan, too bulky and should've been split into two towers. Something more like the Meriwether in Portland, also designed by GBD http://www.gbdarchitects.com/portfolio-item/the-meriwether-2/


www.denver-cityscape.com

[TakeFive]

Originally Posted by BG918

Denver Cityscape has some new renderings for 1700 Wewatta. Is this really going to be more apartments? I thought of all places this could be condos. Personally I'm not a fan, too bulky and should've been split into two towers. Something more like the Meriwether in Portland, also designed by GBD http://www.gbdarchitects.com/portfolio-item/the-meriwether-2/

IIRC they were thinking of building condos. No doubt the construction defects law made a difference here. Here's another good link for The Meriwhether Condos. That's a very nice project; looks like units (for resale) are priced from $400,000 to $1 million. The project sold out prior to completion in 2006. Small consolation perhaps but 1700 Wewatta will have more density with 345 units to The Meriwether's 240 units.

[Cirrus]

Toronto is bigger than Denver, but Toronto is also blowing away its US peer cities right now, and even doing a lot more than New York. They've found a pro-growth high-rise formula there that's unparalleled in contemporary North America. It's hugely impressive, and I wish I knew more about the politics that make it possible.

They also have a subway that's busier than any in the US besides NY's, and North America's largest and most successful streetcar system. Every other city on the continent, mine included, looks bad by comparison.