DENVER | Main Development Thread #7

[laniroj]

Originally Posted by i4isoar

...On a side-note, its projects like this that make me wish that 650 17th had gotten built. Yeah, I know it was very much a pie-in-the-sky from the get-go, but I did love its design, and had it been realized, I have no doubt it would have raised architectural standards in this town (both figuratively and literally)...

Adding setbacks by increasing heights is untenable in Denver - we don't think progressively like that here. Write your City Council persons but more importantly, show up to the public hearings and community planning initiative meetings. Most importantly, get gobs of like minded people to show up with you and be vocal.

Other cities get the big fancy office buildings because of big, deep pocket companies. I haven't made the entire connection yet why Denver can't get something like that done (we have enough large users here to do it), but I am mainly thinking it's attributable to a lack of well-heeled local developers who typically make those kinds of deals happen and the Denver Tech Center. We have a couple well heeled regional developer offices here and they have made it happen (Hines, Patrinely), but we don't generally have the local horsepower to make skyscrapers work. We also seemingly don't have interest from the major office folks. Davita, Charles Schwab, VF Corp, Arrow, Dish, Liberty - these are all companies who could make a statement with a skyscraper, have the money and need the space, but chose not to for whatever reason. Google, facebook, salesforce, and many more have all landed major office space here recently, but they choose 1970's crap over new build - this is very strange because these companies generally don't do this in most markets - they are typically taking top of the line space or pretty good space and making it great. It's bizarre. Perfect example is Kairoi Residential. They do some really awesome stuff in Texas and all over really, but their attempt at good design on the Bell Tower site is absolutely awful. Why can they do such a good job everywhere else but not here?

Comparing Denver to other cities, we get some bad design but I'd generally say we get about the same amount of bad as every other city, we just don't get the really good quality projects on top of the crap (at least not enough). Only the coasts get a lot of awesome design, but they also get a ton of bad too. I'll take a comparatively affordable city versus anything on the coasts every day of the week, so be careful what you wish for!

[Ich]

https://www.denverpost.com/2020/06/2...nver-colorado/

Looks like Denver landed another Bay Area HQ2. I believe there are a few more in the works. Should help the development scene stay active

[twister244]

Originally Posted by Ich

https://www.denverpost.com/2020/06/2...nver-colorado/

Looks like Denver landed another Bay Area HQ2. I believe there are a few more in the works. Should help the development scene stay active

Nice! These sorts of deals will help keep Denver steady coming out of the pandemic recession......

[DenverInfill]

Originally Posted by TakeFive

What an awesome photo; don't you agree?


Photo courtesy of Ryan Dravitz via CREJ

Takeaways from the 2020 State of Downtown report
June 14, 2020 By CREJ

I think it is odd, or maybe just lazy, for the CREJ to use a photo that is at least three years old as the featured image for a "2020 State of Downtown" article.

There's no 16 Chestnut in this photo. It's hard to say if it is even under construction at this point, but the tower topped off in October 2017 and there's no sign of it behind the condo building in the foreground. The tower crane could be for 16 Chestnut but from the angle it looks like it might be for Platform or maybe 1601 Wewatta.

The Triangle building looks complete in the photo and it opened in late 2015, so my best guess is that this photo dates from somewhere between spring 2016 and summer 2017.

This means that when they used the photo for their November 2018 article, it was already a couple of years old.

[TakeFive]

Brick by Brick

Originally Posted by Ich

https://www.denverpost.com/2020/06/2...nver-colorado/

Looks like Denver landed another Bay Area HQ2. I believe there are a few more in the works. Should help the development scene stay active

Sounds promising. They have relatively good scale-up plans which means they have good backing and confidence.

This was also recently announced.

New York tech startup relocates headquarters to Denver
Jun 22, 2020 By Jensen Werley – Reporter, Denver Business Journal

A tech startup specializing in a cloud-based platform is relocating its headquarters from New York to Denver.

Todyl is a tech company that consolidates network and security tools into one cloud platform for managed service providers serving small- and medium-sized businesses.

While it's a five-year-old company, they spent their first three years doing product development.

Todyl was started about five years ago but spent three years in research and development building the intellectual property and product. In January 2019, it went to market.

Now, the company is looking to relocate to Colorado.

Very much a start-up they only have a few employees; but they do have financial backing to move to Denver and pursue their dreams so one never knows.

[TakeFive]

New apartment project planned on So Clarkson St has an innovative name

Introducing "The Clarkson"

114 Units Planned for Corner of South Clarkson St and Jefferson Ave
June 24, 2020 - Mile High CRE

If you think I'm reaching for development news - you would be correct. But this project has redeeming qualities. For one: they have their own funding.

MIG Real Estate LLC (MIG), a national real estate investment company headquartered in Newport Beach, CA, has purchased a 1.04-acre development site... The site is the first acquisition for MIG’s new Qualified Opportunity Zone Business Fund which recently raised over $100M in equity to invest in opportunity zone development sites throughout the Western United States.

Reach some more; see if you can find news with a nice photo.

So beautiful; who wouldn't want to live here?


Credit Jennifer Hayes/CREJ for In Stock photo

Evergreen Development adds Aurora apartments for $46M
June 22, 2020 By Jennifer Hayes/CREJ

Think about these numbers:

It paid $46 million, or $171,641 per unit, for the Turnberry Apartments at Heather Ridge, a 268-unit community, at 2038 S. Vaughn Way.

That per unit price is HALF of what it now costs to build in downtown Denver.

“It’s just an amazing location,” John Blackshire of Transwestern said of the community, situated next to the Golf Club at Heather Ridge, Jewell Wetlands Park, Overland High School and Prairie Middle School. “There were a lot of competitive offers.”

There was a lot of interest in the asset due to its upside as well as its location within the Cherry Creek School District, noted Blackshire. Turnberry also is within walking distance to Utah Park, nearby light rail, and retail and commercial amenities.

This is what you'd call "Plain Jane" units but I've been inside and they're fine.

Read it and Weep

I know this area well and made a nice living off of selling the nearby condos and townhomes back in my "Hudding" days in the late 1980's & early 1990's.

Two bedroom, two baths with single or double car garages were selling for an average $65,000; nearby one bedrooms with only reserved outside parking sold from the mid $20,000's to $35,000.

My fondest affordable story (and there were many)

Nicest young couple, recently married and about 18 months from High School graduation. He had finished is auto-tech certification and secured his new job. She was a secretary.

There was this townhome, not in Cherry Creek SD, in the vicinity of Chambers RD and Mississippi. Nothing fancy, ~1,300 square feet, two bedrooms, nice kitchen area and a (nice-sized) two-car garage. It was a little rough inside - lived-in dirty. HUD decided to sell the unit "as-is" with a $500 down payment.

When this couple moved in and turned the water on, everything was fine. Everything, like appliances worked fine. They paid $28,500 for their first home and couldn't have been happier.

[CONative]

Johnson & Wales University-Denver will be NO MORE as of this time next year. The campus just a few blocks from Stapleton in south Park Hill has a few very beautiful historic buildings and is a pretty decent looking campus. No matter what happens, a couple of buildings will have to stay because they are historically registered or have historical significance. Another Loretto Heights? Mixed-use with affordable and market-rate housing? It is across the street from the somewhat prestigious Denver School of the Arts High School, so not everything can go there.

https://denverite.com/2020/06/25/joh...-denver-campus

[wong21fr]

Originally Posted by CONative

https://denverite.com/2020/06/25/joh...-denver-campus

As this in the white portion of Park Hill, let's see those NIMBY fucks put their money where there mouth is and advocate for hundreds of units of affordable housing in their own neighborhood.


We all can dream....

[BG918]

Originally Posted by CONative

Johnson & Wales University-Denver will be NO MORE as of this time next year. The campus just a few blocks from Stapleton in south Park Hill has a few very beautiful historic buildings and is a pretty decent looking campus. No matter what happens, a couple of buildings will have to stay because they are historically registered or have historical significance. Another Loretto Heights? Mixed-use with affordable and market-rate housing? It is across the street from the somewhat prestigious Denver School of the Arts High School, so not everything can go there.

https://denverite.com/2020/06/25/joh...-denver-campus

Housing of some kind seems like a no brainer for this site, especially the historic buildings and affordable housing in the dorms. In this particular location you may have some pushback from the neighborhood but not as much as if it were west of Quebec. It will be interesting to see what happens, it's a really beautiful campus that many in Denver forget exists.

[Ich]

Originally Posted by BG918

Housing of some kind seems like a no brainer for this site, especially the historic buildings and affordable housing in the dorms. In this particular location you may have some pushback from the neighborhood but not as much as if it were west of Quebec. It will be interesting to see what happens, it's a really beautiful campus that many in Denver forget exists.

Do you think one of the other universities might use it? I heard a rumor that both DU and CSU wanted to start their own med school program

[BG918]

Originally Posted by Ich

Do you think one of the other universities might use it? I heard a rumor that both DU and CSU wanted to start their own med school program

DU used to have its law school there before they moved back to campus. I don't know if it's very well set-up for a medical school though.

I've wondered what will become of old VA hospital next to Rose Medical Center, that could be a potential med school location for DU or CSU. I know CSU is planning for an urban campus at the National Western Center but haven't heard of any plans for a med school there, just science and agricultural programs.

CSU campus in Globeville


https://source.colostate.edu/csu-sys...ampus-in-2020/

[kemachs]

Originally Posted by BG918

Housing of some kind seems like a no brainer for this site, especially the historic buildings and affordable housing in the dorms. In this particular location you may have some pushback from the neighborhood but not as much as if it were west of Quebec. It will be interesting to see what happens, it's a really beautiful campus that many in Denver forget exists.

It is, in fact, west of Quebec. That part of Park Hill does seem slightly WASP-ish and NIMBY, but not nearly as much as the portion west of Monaco.

I also find it to be a beautiful hidden gem of a campus (I live nearby currently), hope whomever takes it over will maintain the quad/open space...it would be hard to appreciate Centennial Hall without it.

[Matt]

Block 162 Update: 6/27/2020

Despite its height and location, I'm surprised to see it's making more of an impact on the skyline than I thought it would. Even from the west side with the Hyatt in front of it, the Hyatt is slender enough to allow Block 162 to make its presence felt. Best of all, the blank wall of Dominion Plaza is now hidden!

[DenverInfill]

Those are nice photos, Matt! What camera/lens do you have?

[DenvertoLA]

Professional grade right there. Thanks for posting

[wong21fr]

Great shots. Appreciate the photo session.

[BG918]

Originally Posted by kemachs

It is, in fact, west of Quebec. That part of Park Hill does seem slightly WASP-ish and NIMBY, but not nearly as much as the portion west of Monaco.

I also find it to be a beautiful hidden gem of a campus (I live nearby currently), hope whomever takes it over will maintain the quad/open space...it would be hard to appreciate Centennial Hall without it.

Ha I meant Monaco. There is a big difference between the neighborhood east and west of Monaco along Montview.

[Sam Hill]

Apartments Under Construction Near Empower Field at Mile High

[comoneymaker]

this photo is 2000 to 2000 of S. Vaughn in Aurora

Originally Posted by TakeFive

New apartment project planned on So Clarkson St has an innovative name

Introducing "The Clarkson"

114 Units Planned for Corner of South Clarkson St and Jefferson Ave
June 24, 2020 - Mile High CRE

If you think I'm reaching for development news - you would be correct. But this project has redeeming qualities. For one: they have their own funding.


Reach some more; see if you can find news with a nice photo.

So beautiful; who wouldn't want to live here?


Credit Jennifer Hayes/CREJ for In Stock photo

Evergreen Development adds Aurora apartments for $46M
June 22, 2020 By Jennifer Hayes/CREJ

Think about these numbers:


That per unit price is HALF of what it now costs to build in downtown Denver.

This is what you'd call "Plain Jane" units but I've been inside and they're fine.

Read it and Weep

I know this area well and made a nice living off of selling the nearby condos and townhomes back in my "Hudding" days in the late 1980's & early 1990's.

Two bedroom, two baths with single or double car garages were selling for an average $65,000; nearby one bedrooms with only reserved outside parking sold from the mid $20,000's to $35,000.

My fondest affordable story (and there were many)

Nicest young couple, recently married and about 18 months from High School graduation. He had finished is auto-tech certification and secured his new job. She was a secretary.

There was this townhome, not in Cherry Creek SD, in the vicinity of Chambers RD and Mississippi. Nothing fancy, ~1,300 square feet, two bedrooms, nice kitchen area and a (nice-sized) two-car garage. It was a little rough inside - lived-in dirty. HUD decided to sell the unit "as-is" with a $500 down payment.

When this couple moved in and turned the water on, everything was fine. Everything, like appliances worked fine. They paid $28,500 for their first home and couldn't have been happier.

[comoneymaker]

Dirt is being moved at Evans and I-25 where the old motel was. They also demoed the apartments.com building. Big dirt lot. Anyone know what is going in?