DENVER | Main Development Thread #7 - Page 101

CastleScott · #**2001** Posted **Jan 19, 2018, 11:28 PM**

Just something from the Post on falling apt rents-looks like supply is starting to exceed demand a bit.
https://www.denverpost.com/2018/01/1...nt-rents-fall/

twister244 · #**2002** Posted **Jan 19, 2018, 11:58 PM**

Quote:

Originally Posted by CastleScott

Just something from the Post on falling apt rents-looks like supply is starting to exceed demand a bit.
https://www.denverpost.com/2018/01/1...nt-rents-fall/

This will probably lead to a slowdown in apartment construction, but not a total halt, unless the economy pulls back significantly soon. On the flip side, if we end up landing Amazon, I would expect things to keep churning. Although from a renter's perspective, this is much welcomed news.....

CastleScott · #**2003** Posted **Jan 20, 2018, 6:50 PM**

Quote:

Although from a renter's perspective, this is much welcomed news.....

For sure!! Its a shame that folks had to endure several yrs of over-priced rent and I bet for a lot of them their incomes could not keep up with this.

Stonemans_rowJ · #**2004** Posted **Jan 20, 2018, 7:31 PM**

Northwest Denver over 30% vacancy!? I was speaking to a friend who has 18 doors just this week, he is below market rent in B and C neighborhoods and he "suffered a bit" this year due to lease-breaks and extended vacancies.

Normal blip or the beginning of something yuuge?

DenverInfill · #**2005** Posted **Jan 20, 2018, 10:16 PM**

Quote:

Originally Posted by Stonemans_rowJ

Northwest Denver over 30% vacancy!? I was speaking to a friend who has 18 doors just this week, he is below market rent in B and C neighborhoods and he "suffered a bit" this year due to lease-breaks and extended vacancies.

Normal blip or the beginning of something yuuge?

Both Centric LoHi and Infinity LoHi came on the NW Denver market at about the same time this past fall, so with their combined 572 units, that's going to create spikes. That's the thing, with so many big projects coming online, the vacancy rate is going to be pretty volatile until the market cools off for a while.

pablosan · #**2006** Posted **Jan 21, 2018, 1:20 AM**

TakeFive · #**2007** Posted **Jan 21, 2018, 1:43 AM**

Quote:

Originally Posted by CherryCreek

Amazon HQ2:

Weird process. Why cut to 20 cities?

Anyways, wake us up when there's real news.

I just laughed and laughed when I saw that news. Some short list.

Quote:

Originally Posted by Agent Orange

3 of the finalists actually. DC, NoVa, and Montgomery County MD (where Bethesda and Rockville are).

Speaks volumes, eh. Add in Boston and those seem to be a definite focus.

The most surprising city on Amazon’s HQ2 short list (and it actually has a chance)
Fun, interesting piece by Mike Sunnucks of the PBJ carried by the DBJ about Indianapolis' chances. Much different from the East Coast options but Jeff Bezos is not one to be conventional. This would actually be a stroke of genius selection. Right in the heart of the country with both the capacity (to build) and very affordable. Call it a highly intriguing dark horse. And like Denver it's on I-70.

TakeFive · #**2008** Posted **Jan 21, 2018, 1:55 AM**

Quote:

Originally Posted by RyanD

They have a giant facility in Aurora at the moment.

Quote:

Originally Posted by DenverPoke

They are also building the huge facility in Thornton.

Amazon is amazing for what they have been able to accomplish, that's for sure. Their first newer flagship center that was built in Phoenix is 1.2 million square feet but most of their primary fulfillment centers average closer to the 1 million square feet that Aurora has. Earlier 800,000 SF was the norm.

Matt · #**2009** Posted **Jan 21, 2018, 2:05 AM**

Four Seasons reflected in the glass facade of 1144 Fifteenth Street:

pablosan · #**2010** Posted **Jan 21, 2018, 2:20 AM**

Looks amazing.

SirLucasTheGreat · #**2011** Posted **Jan 21, 2018, 6:43 PM**

Has anyone seen the green illumination on 1144? I am having some difficulties uploading a picture that I took but I have seen it running up and down the front and sides of the building this past week.

Denvergotback · #**2012** Posted **Jan 21, 2018, 6:54 PM**

Quote:

Originally Posted by SirLucasTheGreat

Has anyone seen the green illumination on 1144? I am having some difficulties uploading a picture that I took but I have seen it running up and down the front and sides of the building this past week.

I saw that too! I was wondering if that was intentional or if that’s just the Exit signs at the doors or elevators

CastleScott · #**2013** Posted **Jan 21, 2018, 6:58 PM**

That's a hella cool pic Matt muchas gracias!!

twister244 · #**2014** Posted **Jan 21, 2018, 7:14 PM**

Quote:

Originally Posted by Stonemans_rowJ

Northwest Denver over 30% vacancy!? I was speaking to a friend who has 18 doors just this week, he is below market rent in B and C neighborhoods and he "suffered a bit" this year due to lease-breaks and extended vacancies.

Normal blip or the beginning of something yuuge?

Again, I don't think this is reflective of a macro economic shift, but more a local cooling of the rental market due to the flood of units coming on board. When I look at real estate (condos, for sale homes), things look about as hot as ever with record low inventory (https://www.bizjournals.com/denver/n...tory-near.html). However, I am seeing a cooling of prices based on just looking around the area I live. I saw a complex (not super old either) in the RiNo area offering 2-bedroom units for $1739 a month...... That's insane from my perspective given how prices have been over the last couple of years since I moved here.

CastleScott · #**2015** Posted **Jan 21, 2018, 9:25 PM**

^ Just following the local housing topic on here I should have never sold my Castle Rock condo back in May 2015-I had a bad feeling that if I sold it that I very likely will never be in the financial position to move back to the front range again. I imagine that Pueblo might be an alternative as for affordable homes or small towns south of there. Anyway I do miss my third floor Castle Rock condo even without an elevator-also wish I never got into credit card debt which was the Big reason I had to sell it in the first place-let that be a lesson to everyone-don't get into the stupid debt hole!!

Matt · #**2016** Posted **Jan 22, 2018, 2:02 AM**

Quote:

Originally Posted by Denvergotback

I saw that too! I was wondering if that was intentional or if that’s just the Exit signs at the doors or elevators

If you are talking about the random scattering of green lights, those are EXIT signs within the building. This photo was taken on January 19, 2018, and I noticed the side lighting was turned off.

Matt · #**2017** Posted **Jan 22, 2018, 2:05 AM**

If 1144 Fifteenth Street's Crown Was Lit: A Colorado Rockies Baseball Game Night

RyanD · #**2018** Posted **Jan 22, 2018, 2:17 AM**

Despite the exterior lighting debate, 1144 does add so much to the central skyline:

Giant Size Version

twister244 · #**2019** Posted **Jan 22, 2018, 3:30 AM**

That was mean......

I totally glossed over "If" and just saw it was lit up...... as though I was a child at Christmas being told there's one more hidden gift behind the chair next to the Christmas Tree.

Matt · #**2020** Posted **Jan 22, 2018, 4:19 AM**

Quote:

Originally Posted by twister244

That was mean......

I totally glossed over "If" and just saw it was lit up...... as though I was a child at Christmas being told there's one more hidden gift behind the chair next to the Christmas Tree.

Well, I'm of the belief that there might be an ulterior motive to Hines not lighting the crown: accomodating corporate signage for one of its first anchor tenants, Gates Rubber. In the high-stakes game of corporate pre-leasing, it would be easier for Hines to frame the decision to keep the crown dark as a "gesture of courtesy" to residents in Four Seasons. However, it's extremely likely that Gates strongly requested the ability to mount their logo onto the crown of the building (and Hines likely capitulated, figuring it was a factor in getting Gates to sign a lease agreement). According to the Denver Post, Gates will indeed install corporate signage atop the building, and I can't think of any examples in the world where a corporate logo is mounted onto a glass facade that is illuminated from within or behind. Of course I could be wrong, but lighting the crown would seem to distract from corporate signage since both would be lit at night.

It has been evident for a while now that 1144 Fifteenth's facade has been prepared for the installation of a logo all along. The top of the building has a "clean break" in horizontal facade elements and appears to feature "bolting points" to support the installation of large channel signage. The shape of this mounting area on the building (which is on both sides) is nearly coincident with the Gates logo itself:

Although I'm sure the Gates logo will be illuminated, it is still extremely unfortunate that the building's crown will be left dark. This was Denver's first chance to have a skyscraper in our skyline with a prominent illumination feature in the form of a crown, finally giving Denver a skyline that could be appreciated (read: seen) from a distance at night - and a building that itself would become a nighttime icon for us. 1144 Fifteenth may also have been our last chance to light a pinnacle point in our skyline; given the uncertainties of how the "Green Roof Initiative" will likely rule out or otherwise discourage crowns, pyramids, domes, and other full-bodied architectural pinnacles on future skyscrapers. Sad that downtown Denver may have just blown its last chance to become a beacon of light at night, an element that is commonplace in virtually every cosmopolitan city skyline the world over.