Denver One Lincoln Park - Page 45

Fritzdude · #**881** Posted **Jun 11, 2008, 11:18 PM**

Quote:

Originally Posted by glowrock

She's turned out to be quite a beautiful landmark!

Now, to eliminate more of those ugly surface lots in the area!

Aaron (Glowrock)

When I took their tour and inquired about buying a unit, the salespeople hinted at future "good things" to come on the adjoining empty blocks - although that could just be their way to bait the hook. Regardless, the empty lots seem like they're in a prime position for development, especially when you consider the increased vitality of Uptown just to the east and the proximity to downtwon. Broadway/Lincoln is the main north/south blvd through the city so this area is right in the middle of the action. this is slightly off-topic, but if the city would have the foresight to install streetcars running along this route, I guarantee that you would see a huge amount of private investment follow suite.

Imagine the convenience of jumping on a trolley on north Broadway and letting it drop you off at Civic Park, or the museums, or the shops along south Broadway, or even at the RTD connecting Light Rail station at I-25 and the nearby $1B redevelopment of the Gates property that will be a great example of TOD infrastructure.

http://www.cherokeedenver.com/history/index.html

In my opinion, Denver really needs to take the next step and invest in more more urban transit options to springboard future development. Ask anyone who lives in a city with Streetcars and they not only love them, but talk about them with civic pride.

The Dirt · #**882** Posted **Jun 12, 2008, 2:35 AM**

I hope that the salesperson was basing that talk on the post-alleged-fraud charges of the OLP developer. I remember that he did promise to remake that entire area, as OLP was the first of several. However, that was several months before he was charged. I think if 1800 Glenarm gets remade into the Mondrian that will be a good sign of things to come.

rds70 · #**883** Posted **Jun 12, 2008, 11:30 PM**

According to the Colorado Real Estate Journal, the 1800 Glenarm property changed hand on June 3rd from Residence Glenarm LLC to 1800 Glenarm Place LLC. The sales price was $6 million.

The Dirt · #**884** Posted **Jun 13, 2008, 2:12 AM**

So, does that mean that it's not being developed into residential units?

CoVol · #**885** Posted **Jun 13, 2008, 4:39 AM**

Not sure, but there's a new dumpster on the 18th St. side and the ground floor has been cleaned up quite a bit while I was out of town earlier this week. Looks like something is happening.

Storogoth · #**886** Posted **Jun 16, 2008, 2:45 PM**

Things at Mondrian slowed down for sure but 2 weeks ago they dropped a new HVAC unit on the roof and blocked 18th for a few hours on Sat. morning. I'm sure they would not have spent that chunk of change if things had stalled out. It will certainly be another asset to the "other end" of downtown.

DownhomeDenver · #**887** Posted **Sep 7, 2008, 4:27 PM**

You build a top quality project and the buyers will come:

http://www.rockymountainnews.com/new...tower-80-sold/

enjo13 · #**888** Posted **Sep 7, 2008, 4:51 PM**

Although they're having real trouble selling the remaning units. They've been at ~80% for nearly a year. They have a variety of units, all over the magic $500,000 price point remaining.

I think Spire is doing this right, trying to get as many units under that $500k (or over about a million) barrier is really important in this market right now.

Chinagirl · #**889** Posted **Sep 8, 2008, 3:51 PM**

Home › Business › Real Estate
Luxury condo tower 80% sold
One Lincoln Park's first residents set to move in Sept. 22
By John Rebchook, Rocky Mountain News (Contact)
Friday, September 5, 2008

Photos By Judy DeHaas / The Rocky

Workers on a 25th-floor balcony at One Lincoln Park at East 20th Avenue and Lincoln Street have a great view of downtown Denver.

Radio personality Tom Manoogian, who is a small investor in One Lincoln Park and bought a unit there, gives a tour.His company, Major League Marketing, also is marketing the project.

On Sept. 22, the first residents will begin moving into the 32-story, $140 million One Lincoln Park, the first luxury condo tower built in Denver's central business district in more than 25 years.

So far, 144 of the 180 units have been sold in the building at Lincoln Street and East 20th Avenue, across from the Welton light-rail station.

The remaining units range in size from 882 square feet to 4,330 square feet and are priced from $375,000 to $2.574 million. Monthly homeowner association fees range from $288 to $1,414.

"We think it is the best-selling condo project in Denver, in a very challenging environment," said Tony Mallardi.

He and his wife, Sacha, bought a unit on the 11th floor for about $485,000 and spent $26,000 for a second parking space and about $80,000 on upgrades - including a custom-made glass bar and fancy tile - for a total of $591,000.

It has since appraised for $610,000, Mallardi said.

"I believe it is going to be an excellent investment," Mallardi said.

Legal problems from the original developer, Erik Osborn, haven't scared buyers, said Ed Cerkovnik of Breckenridge Holding Co., which heads the development group for the tower. Cerkovnik replaced Osborn.

Osborn is facing charges of felony theft of $255,000, including diverting $147,000 from One Lincoln Park. Osborn has said repeatedly that he did nothing wrong.

"Erik's legal problems really haven't had any impact," Cerkovnik said. "The project itself is such a signature building," he added. "People are interested in the building because of the architecture, the quality, the amenities and the location."

The building was designed by the Buchanan Yonushewski Group and was built by Swinerton Inc. Construction began in the spring of 2006.

The main investor is car dealer Doug Moreland, known as "Dealing Doug."

A smaller investor is radio personality Tom Manoogian, known as "Lou from Littleton." His company, Major League Marketing, also is marketing the project. Moreland and Manoogian both have bought units at One Lincoln Park.

rebchookj@RockyMountainNews.com or 303-954-5207

CPVLIVE · #**890** Posted **Sep 27, 2008, 8:13 PM**

It looks like their nearing the finish line on 1LP (at least with the exterior). Here's a few shots I took today. Looking good.

enjo13 · #**891** Posted **Sep 27, 2008, 9:15 PM**

They've apparently already started closings... should see some folks moving in any day now.

enjo13 · #**892** Posted **Sep 27, 2008, 9:17 PM**

Here is the original rendering.. I'd say it came out pretty darn close

FrancoRey · #**893** Posted **Sep 27, 2008, 10:43 PM**

Hey I got a question: did they plan for when it snows?

Remember Cashie had to get heating coils installed after they forgot that snow would slide off the slanted roof and fall 700 ft to the people below. I could see the same happening on OLP to those balconies on the 25th floor and up...