DENVER | Main Development Thread #7

[rds70]

Originally Posted by Ich

On my way home, I passed by 650 17th street. Looking it up, Harbinger Development has a 750,000 sq ft building proposed for that site. Any idea how tall that might be?

Also noticed on their website, they own the green Cottrells building on 16th street.

“ 601 16th Street, Denver CO 80202. Acquired 6/28/19. Surface public parking lot. Proposed ~315,000 square foot mixed use project.”

They also say it’s a surface parking lot. I hope they aren’t tearing it down and leaving it as parking lot for a while.

Given the site size of 25,000 sf for 650 17th, the base FAR would yield a 30 story building. That would not count bonuses for retail or residential. The previous proposal yielded a total of 1 million square feet. Parking does not count towards FAR.

As for the 16th Street site, 315,000 sf would yield 20 stories as a FAR base. The same bonuses could apply.

[rds70]

Proposal for the Home Depot at the 41st and Fox station:

The Project is anticipated to provide ground floor retail space of approximately 136,080 SF with 106 surface parking spaces. There will be a 10-story residential tower and an 11-story office tower that have a shared lobby entry along the primary street of Galapago Street. Three total above grade parking levels will also be provided. A pedestrian bridge will constructed to provide multi-modal connectivity to the RTD Station to the north.

[laniroj]

Originally Posted by rds70

Proposal for the Home Depot at the 41st and Fox station:

AWESOME! This is probably the project I'm most excited about. Ground floor Home Depot, let that settle in! This has the potential to establish a new normal.

[Cirrus]

Awesome. AFAIK the only mixed-use Home Depots are in New York. Great to see that log-jam breaking. Hope it becomes a national example.

Is there a link for this?

[TakeFive]

Not new to you and me but fresh from CREJ

Very nice rendering don't you think? See the name like a cherry on top?


Courtesy Endeavor Real Estate Group/Legend Partners via CREJ

Endeavor, Legend unveil plans, name for Gates project
September 30, 2019 By Jennifer Hayes/CREJ

[vblack]

Rezoning deal could make way for new skyscrapers on Denver’s Sherman Street if developers agree to build affordable housing

[SirLucasTheGreat]

Originally Posted by vblack

Rezoning deal could make way for new skyscrapers on Denver’s Sherman Street if developers agree to build affordable housing

Fascinating article. The fact that there have already been more than 75 meetings and the Dikeou's have not even submitted their rezoning application yet is disturbing. I wonder what would have happened if these lots would've been rezoned 3-5 years ago.

[Robert.hampton]

Originally Posted by vblack

Rezoning deal could make way for new skyscrapers on Denver’s Sherman Street if developers agree to build affordable housing

Overall this needs to happen, though I do think that its bullshit that parking lot slumlords are extorting the city for an upzoning in order for development to move ahead. I would hope they can squeeze a bit more out of them for streetscape improvement than a couple dozen trees.

Also interesting that the affordable housing requirement can be 'offset' by building affordable units in a building nearby. The Dikeou's have been snatching up parking lots like crazy around the neighborhood over the last year including 17th and Penn, 18th and Lincoln, and 19th and Broadway -- so looks like they will control the stable of land for 'affordable offsetting'.

[wong21fr]

Originally Posted by SirLucasTheGreat

Fascinating article. The fact that there have already been more than 75 meetings and the Dikeou's have not even submitted their rezoning application yet is disturbing. I wonder what would have happened if these lots would've been rezoned 3-5 years ago.

Dick would have happened. If the Dikeou's wanted to sell they would have and there would have been a 20-ish story apartment tower on at least one of those parcels.


I'm really not sure what their angle is asides from a sense of still wanting to feel relevant- which is me being jaded. The best explanation is that they want to maximize the last of their land holdings in order to sell them off so that the Dikeou kids can trust fund the shit out of their art interests.

[TakeFive]

Can't we add a little more spice to Broadway Station/Gates site?


Courtesy Endeavor Real Estate Group/Legend Partners via CREJ

Exclusive: Developer plans 1M SF of office space for big tenant at Broadway Station
Oct 1, 2019 By Andrew Dodson – Reporter, Denver Business Journal

A Texas developer that specializes in corporate build-to-suit campus projects has struck a joint venture agreement with Broadway Station Partners to market a section of the old Gates Rubber Factory and lure a big-name tenant that’s seeking a new headquarters or regional campus.

Officials with Dallas-based KDC exclusively told Denver Business Journal that it plans to develop up to 1 million square feet of Class A office space at the 41-acre Broadway Station transit-oriented development. That 8-acre section of the development, bordered by East Ohio Avenue, Santa Fe Drive and Interstate 25, will be called Santa Fe Yards. It’s adjacent to the 5.36-acre Vanderbilt Park East, which the development team plans to market as an outdoor amenity for office workers.

“This site is all about the amenities, transit access and the mountain views,” said Chris Selbo, vice president of development for KDC. “I can’t imagine where you could find a better site.”

So does this change previous plans?

Kicking off the office project hinges on landing a big-time client. KC has developed similar headquarters projects, including in Plano, Texas, where it developed 240 acres for Toyota’s North American and FedEx Office’s headquarters, in addition to regional campuses for Liberty Mutual and J.P. Morgan Chase. That project moved quickly, Selbo said, with the land spoken for in under 24 months.

Early renderings of the site show a four-building layout surrounding the park, but those design plans can change per a tenant’s request. KDC is currently developing similar build-to-suit projects in Phoenix, Dallas, Nashville and San Antonio

Who knows what tomorrow will bring?

[SirLucasTheGreat]

Originally Posted by TakeFive

Can't we add a little more spice to Broadway Station/Gates site?


Courtesy Endeavor Real Estate Group/Legend Partners via CREJ

Exclusive: Developer plans 1M SF of office space for big tenant at Broadway Station
Oct 1, 2019 By Andrew Dodson – Reporter, Denver Business Journal

So does this change previous plans?

Who knows what tomorrow will bring?

Do you know how to upload those renderings on here? I'm not sure how to do that on the mobile site. I think the project looks exciting, although they make Santa Fe look a lot less messy than it stands today.

[BG918]

Originally Posted by SirLucasTheGreat

Do you know how to upload those renderings on here? I'm not sure how to do that on the mobile site. I think the project looks exciting, although they make Santa Fe look a lot less messy than it stands today.

Here are a couple, I think that's a new river bridge they're showing at Mississippi

[CherryCreek]

Originally Posted by TakeFive

Can't we add a little more spice to Broadway Station/Gates site?


Courtesy Endeavor Real Estate Group/Legend Partners via CREJ

Exclusive: Developer plans 1M SF of office space for big tenant at Broadway Station
Oct 1, 2019 By Andrew Dodson – Reporter, Denver Business Journal

So does this change previous plans?

Who knows what tomorrow will bring?

Broadway Station sure seems to finally have the momentum, while RiNo continues to pop like gang busters. Meanwhile, another big SF jobs win announced today: 800 high paying jobs from another SF tech company opening a Denver office, a company called Robinhood!


Robinhood, a Northern California fintech firm that has disrupted the financial-services industry with its easy-access no-commission stock trading, is expanding to the Denver area, set to create nearly 800 jobs here as it sets up a base for its customer-experience team in what is its fourth major office location.

The Menlo Park-headquartered company, which received a valuation of $7.6 billion during its $323 million Series E funding round just two months ago, joins a lengthening list of Bay Area tech companies that have chosen to expand in Colorado rather than in their high-tax, high-regulation home state. Background-check company Checkr, fintech firm Personal Capital, data-warehousing company Snowflake and HR tech firm Gusto all have invested recently in facilities in the metro area that will allow them to hire hundreds of workers here — or, in some cases, to build a workforce that is larger in Denver than the one they operate in California.

https://www.bizjournals.com/denver/n...expansion.html

[SirLucasTheGreat]

Originally Posted by BG918

Here are a couple, I think that's a new river bridge they're showing at Mississippi

Thanks a lot for posting these. I'm just excited to see density finally making its way to the third busiest train station outside of Union Station and DIA. Urban planning might not have always been well-directed in Denver but the more density that we can add adjacent to major transit hubs, the better.

[Stonemans_rowJ]

I think one element of Wework overlooked by people that haven't used it and think it's a glorified Regus is its national presence. I rent a 1 man office and really only work in Denver, but if I go to NYC and want to work in a location there, I can. I can also meet a client in Boulder or Cherry Creek etc at a location which is not my home location.

It's an amazing service really when you think about it. Is it a tech company? Probably not, but that's really just semantics. Compass and Redfin call themselves tech companies. Hell, Keller Williams CEO is on record saying they are a "tech company" now.

I've been in the Regus in Denver to meet other people. It's like comparing Applebee's to Elway's.

[TakeFive]

RiNo... did you say RiNo?

Originally Posted by CherryCreek

Broadway Station sure seems to finally have the momentum, while RiNo continues to pop like gang busters.

8-story apartment building planned in RiNo
Oct 1, 2019 By Andrew Dodson – Reporter, Denver Business Journal

A Washington-based developer with residential projects scattered throughout Denver is under contract to purchase a parcel in the River North Art District with plans to build an eight-story apartment building.

Holland Partner Group submitted a formal site development plan last week for a 365-unit apartment building at 2950 Arkins Court. The project calls for 18,500 square feet of ground-floor retail and restaurant space and 230 parking spaces. The deal for the 1.7-acre site is expected to close either later this year or in the first quarter of 2020.

The site development plan, designed by Denver-based Shears Adkins Rockmore architects, calls for 160 studio-sized units, 144 one-bedroom and 61 two-bedroom units.

Isn't that sort of a prime site?

The apartment project is the latest project in the fast-growing RiNo neighborhood. It’ll go up near RiNo Park, the centerpiece of what’s temporarily being called the River North Promenade — a redesign of Arkins Court between 29th and 38th streets. Those plans call to vacate Arkins Court and turn it into a pedestrian-and bike oriented pathway. A “Festival Street” would be installed south of the park in a future phase of development, in addition to the 35th Street pedestrian bridge that would lead to the Taxi campus by the Zeppelin development firm.

[PLANSIT]

Originally Posted by Cirrus

Awesome. AFAIK the only mixed-use Home Depots are in New York. Great to see that log-jam breaking. Hope it becomes a national example.

Is there a link for this?

Vancouver has a more comparable example.

[TakeFive]

Needing to replace a double post this should work nicely


Credit Nathaniel Minor/CPR News

Pessimism Creeps In For Colorado Businesses As Confidence In National Economy Is Shaken
October 1, 2019 By Ben Markus and Ryan Warner/CPR News

A potentially telling economic indicator just turned negative for the first time since the Great Recession.

A regular survey of state business leaders by the University of Colorado Boulder found increasing pessimism about the economy. The survey results are distilled into an index, and anything below 50 is a bad reading. Respondents rated the economic outlook 46.9.

Oh oh, are we going to crash and burn.

Wobbekind said there’s little threat of recession in the near term. “We just don’t see that on the horizon,” Wobbekind said.

When it comes to most key economic measures in Colorado, “we’re pretty much a top 10 state,” Wobbekind said. “But we do see it slowing down, sort of in sync with national economy.”

So what's putting people into such a poopy mood?

“The most commonly cited reasons by survey responses for the pessimism included trade, politics, the economy, and uncertainty,” reads the report.

Trade talks with China don’t appear to be progressing, and businesses are starting to get worried. “There’s too much uncertainty,” Wobbekind said. “It’s not necessarily the tariffs, it’s the uncertainty about how they are going to be resolved.”

I think I may have said it before but just to make sure... "A pause for the cause is not a bad thing; it's a good thingy"

It keeps the little bubbles from blowing up into Big Bad Bubbles. Besides a slower economy should mean lower interest rates and lower construction costs; definitely a good thing.

[TakeFive]

Originally Posted by wong21fr

Dick would have happened. If the Dikeou's wanted to sell they would have and there would have been a 20-ish story apartment tower on at least one of those parcels.

I'm really not sure what their angle is asides from a sense of still wanting to feel relevant- which is me being jaded. The best explanation is that they want to maximize the last of their land holdings in order to sell them off so that the Dikeou kids can trust fund the shit out of their art interests.

Is there an element of greed? Ofc all sellers want the max. The real question is are they legitimate sellers or just wasting everybody's time? Sometimes the line is fine. How'd you like to be Kathleen Fogler et al with Tryba Architects who's invested three years of their lives.

https://www.denverpost.com/2019/10/0...reet-rezoning/

When the Dikeou family first contacted him about Sherman Street, Tryba said they were considering selling their lots to developers seeking to build block-consuming mid-rise apartment buildings like those that have popped up across Uptown in recent years. Rezoning is the antidote to projects like that, he said.

“I’ve watched these lots for 35, 40 years be not developed,” Tryba said. “We do know that it is coming, and we know we’ll get stubby, blocky buildings because that’s what it’s zoned for.”

It's taken so long partly since it's assumed that the land will be sold to other developers with unknown aspirations and plans. Goals of the city as well as the Dikeou's became a maze of "what ifs" etc which took forever to work out.

https://www.thedenverchannel.com/new...sherman-street

The firm has filed its application to rezone the area and is now waiting for the the city planning board to review it, possibly by December. After that, it would be up to Denver City Council to decide whether it wants to lift the height restrictions and allow a few more skyscrapers to be added to the area.

[wong21fr]

Originally Posted by TakeFive

How'd you like to be Kathleen Fogler et al with Tryba Architects who's invested three years of their lives.

Try doing project feasibility studies in mining. One can go a career w/o seeing a project actually go into production.