DENVER | Main Development Thread #6

[Fritzdude]

There is a lot of earth being moved over by the children's museum along the west side of The Platt within view of I25. Pretty close to The Aquarium. Does anyone know what this might be?

[sphinx88844]

Is Repulic Plaza outside of starbucks really a private plaza.... What the hell is the point of wasting half a block of space if you can't use it....

[BG918]

Originally Posted by Fritzdude

There is a lot of earth being moved over by the children's museum along the west side of The Platt within view of I25. Pretty close to The Aquarium. Does anyone know what this might be?

$15 million expansion of the Children's Museum is underway by the river.



http://ozarch.com/

[RyanD]

Originally Posted by DownhomeDenver

There is also a sign advertising the tower on the lot now. So yeh this will be under construction very soon!!

This is going to be a big boy.... Probably bigger than we are imagining. Here's a different prospective with my not so awesome Photoshopping (ignore the ground floor, and I know it's not the right perspective / side of the building)

[TakeFive]

^^ RyanD... That is totally amazing. Destined to be an Iconic Jewel.

Originally Posted by BG918

$15 million expansion of the Children's Museum is underway by the river.

BG918... Glad we could count on you! I too was unaware. That is just delightful news. With all that has been done around downtown the Children's Museum
was overdue for some love. Nothing more precious than our little ones, the next great generation.


From lovethispic.com

[bunt_q]

You have that way too big for that perspective. Those floor appear to be scaled vertically the same as the building that is much closer.

That building should not be rental. Please let it stall, pretty please.

[TakeFive]

per best.healthtips.xyz

From an update posted October 3, 2014 for the $800 million new VA Medical Center in East Denver (or is it just east of Denver?) HERE:

• We’ve placed 2,126 Precast Concrete pieces, which is 88% of the total needed.
  8,366 tons of Structural Steel has been placed on the project – that puts us at 96% complete!
  Parking Visitor North structure is 75% complete.
  Overall construction completion is now over 55%!

From Colorado Public News I found this interesting tidbit:

University Hospital in Aurora is building the most expensive addition at $400 million, as it adds 276 beds to a facility only eight years old. CEO Bruce Schroffel cites a deliberate decision to go $700 million further into debt. This money was invested in new facilities and to recruit top specialists from around the world. It paid off, in booming business, and also a ranking as the top-quality academic hospital in the nation. That ranking counted effectiveness of treatment, mortality and patient safety, among other measures. (emphasis mine)

“It’s a different perception of who we are than we were 10 years ago,” said Schroffel.

[TakeFive]

Originally Posted by bunt_q

That building should not be rental. Please let it stall, pretty please.

PMRG does build high end apartments. I assume Colorado laws were not a factor in their choice to build rentals. Last year they completed this property in Midtown Dallas
which is an area of Cherry Creek quality. I believe it has a Whole Foods Market included.


Compliments of PMRG.com.

[seventwenty]

Denver Post E-board wrote this today:

Originally Posted by State must fix rules on Colorado condo construction

The most recent figures show condos represented only 4.6 percent of the total new home starts in metro Denver, compared to 26 percent in 2008.

Condominiums are an important piece of the housing picture — often affordable homes that appeal to first-time home-buyers and empty-nesters. Cities hope to add more condos around transit stops instead of apartments, believing that giving people a sense of ownership will encourage more stable, lasting communities.

This year, Sen. Jessie Ulibarri, D-Westminster, sponsored legislation to push more condo construction disputes into arbitration and lower insurance premiums. But the bills failed over concerns of weakening consumer protection.

No one wants homeowners saddled with poorly constructed condos without redress. But the current law is skewed in favor of litigation as the way to resolve the conflicts.

Lakewood took the right approach, and the state should consider similar legislation.

State law as it exists now allows a majority of a homeowners association board — not homeowners themselves — to approve litigation against a builder. The problem is, once a lawsuit is filed, homeowners often have trouble selling or refinancing units.

Lakewood's ordinance gives developers and builders a "right to repair" before facing litigation and requires condominium boards to get consent from a majority of homeowners before filing suit

Overall, nothing we didn't already know, but it is nice to see this issue getting more attention.

[Scottk]

when the confluence is complete will there still be a small vacant lot in that area?

please forgive my ignorance

[EngiNerd]

No, I believe the Confluence will take up that entire lot.

[bunt_q]

Originally Posted by TakeFive

I assume Colorado laws were not a factor in their choice to build rentals.

But the laws were likely a factor in how that rental-focused group came to be building on that site, as opposed to somebody else.

City sued over Lowry project

Four neighbors have sued the city of Denver and the city’s Planning Board members to “challenge and reform,” what the complaint described as a “corrupt” process that led to the rezoning of the proposed 70-acre Buckley Annex at Lowry.

No High Rises in Lowry!

http://insiderealestatenews.com/2014/10/28/city-sued-over-lowry-project/

[DenverPoke]

What happens first downtown...1,000' skyscraper, streetcar line, AS gets built out?

[bunt_q]

Originally Posted by DenverPoke

What happens first downtown...1,000' skyscraper, streetcar line, AS gets built out?

None of the three in my lifetime. Depending on how we define "built out," though, that's likely the first.

[PLANSIT]

Streetcar seems most likely, just because AS has a lot to fill. 1,000' seems a bit daunting, but we'll get close one day.

[denconyny]

Originally Posted by bunt_q

How in the bloody hell is that good news? The growth is good. Everything else in that story is indicative of a serious and inevitably damaging market imbalance, which is stifling wealth growth and opportunity pretty much an entire city of people under 35, who have no opportunity to start building equity and are paying far too much of their incomes in rent than would be the case if the state legislature wasn't terribly meddlesome. Give me a break. At some point our collective desire to circle jerk over an image of cranes hovering over the skyline needs to come second to some miniscule degree of interest in the greater good.

A better take: http://insiderealestatenews.com/2014/10/25/rental-vacancies-fall-rents-set-record/

The state condo defect laws are probably what is mostly holding up construction of housing in the City and County of Denver. However, I find that maybe a somewhat lackadaisical approach to this concern on the part of Denver elected officials probably some part of the problem as well. And also questions as to how many people (and not all just potheads with little money) would want to live in the Denver area, only to be priced out of housing in what is a pretty good regional economy, but with a housing unbalance. First with correct adjustments in the condo defect law, and then with some initiative by city officials, easily a few thousand units could easily happen here.... such as this project in the Miami suburbs of all places......

http://livemetropica.com/

Originally Posted by DenverPoke

What happens first downtown...1,000' skyscraper, streetcar line, AS gets built out?

With reformed condo defect laws, and some inertia by Denver elected officials, AS could easily be filled by some similar project such as Metropica in the above link. No.... it doesn't have to be luxury, nor does it have to even look like the same (although personally I think that the Metropica project looks fantastic and would be awesome if it somehow go transplanted into AS), but easily 7 towers ranging from about 20 to 30 stories each (and maybe even more) with reasonable space and rents could easily happen with the current housing demand in Denver and area if only state and local elected officials would get off their duffs and actually use some reason with this current housing situation.

Let's say that maybe I'll make a monolithic assumption here and think that our state and local officials will act with some rational towards the housing situation..... so I'll vote that AS will get filled out first. It really wouldn't require all that much since demand is there.......

[TakeFive]

Originally Posted by bunt_q

No High Rises in Lowry!

http://insiderealestatenews.com/2014/10/28/city-sued-over-lowry-project/

Presumably there's an existing max of 5 stories and actually 3 stories for the most part.

However, one person familiar with the development, said he thinks the majority of the people in the area believe they have already won many concessions and believe the CPD has been sensitive to their concerns.

Those suing, he believes, would be satisfied if the Buckley Annex development only included single-family detached homes and parks.

Similar to political extremists: "You don't compromise your Principles."

Eh, so some people with money want to spend some of it. I'm clueless as to what they mean by "corrupt" but it sounded specious to me. Guessing this is like settled "law" meaning they have little hope or chance.

[TakeFive]

New Urban Development? Yikes
A new 96,000 sq. ft. building is set to break ground before the end of the year with Six parking spaces per 1,000 sq ft. HERE:

"DriveTime corporate HQ heads to Tempe"
Tempe is the one hot market part of this metro area. It is where State Farm is building their Two Million sq. ft. regional HQ. Admittedly this specific new business park is lower density. Interestingly, ASU acquired a HUGE tract of land many, many years ago and they recently started writing ground leases for development creating a nice annuity. The land is now a Prime Site for development. Location wise this would be similar to the South Colorado Blvd./ I-25 corridor.

[seventwenty]

Denver changed some zoning in Cherry Creek. Time to sue!

Originally Posted by DBJ

Rough boundaries for the area where the zoning changes are taking effect are University Boulevard, Steele Street, Third Avenue and First Avenue. The changes are aimed at encouraging different kinds of development in the area while retaining Cherry Creek North's existing physical character.

Minimum parking requirements will be reduced, according to a summary of the changes, which can be accessed in full here.

Right now, the off-street parking ratios in Cherry Creek are the highest in the city, according to the summary, and are higher than market demand, which inhibits economic reinvestment.

The new zoning reduces the required off-street parking for some permitted uses, include two parking spaces for every 1,000 square feet of gross floor area of office space and 2.5 parking spaces for every 1,000 square feet of retail sales and restaurant space.
Residential parking requirements will be reduced from two spaces per dwelling unit to one.

[bunt_q]

Originally Posted by seventwenty

Denver changed some zoning in Cherry Creek. Time to sue!

To even propose change in an Area of Change as designated in a non-legally-binding plan is clearly unconstitutional, I agree.