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  #15221  
Old Posted Yesterday, 7:14 PM
laniroj laniroj is offline
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Originally Posted by wong21fr View Post
That's inspirational TikTok post worthy, man.
Yea I’m still waiting for my account to monetize to get me some of those easy internet dollars! No, no I’m not. I’d rather eat my fingers down over time than post videos on the interwebs.

For some of you newbs on this forum (aka post 2014-era) this forum had NOTHING for an extended period of time there preceding and following the Great Recession. Doesn’t seem like we are headed quite for that but development velocity and new projects have certainly slowed quite a bit. To fill the project vacuum, we could…talk about…suggestions? Take five does do a good job of periodically introducing projects in the fringe. I’d love to see posts about condo developments (anywhere Denver metro). I know of maybe three annd two are Amacon…are there others?
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  #15222  
Old Posted Yesterday, 9:02 PM
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TakeFive TakeFive is online now
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Okay, I'll dial it back. I respect the feedback and candor.

Couple of quickies:

Speaking of politics (and we've discussed this before), apparently City Council is considering extending the deadline for projects that would be grandfathered in before the new affordable housing requirements become official.

We've also discussed "Induced Demand" before. It's a bit humorous how induced demand has created a hazard for some downtown Condominiums.
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  #15223  
Old Posted Yesterday, 9:26 PM
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wong21fr wong21fr is offline
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Originally Posted by TakeFive View Post
OWe've also discussed "Induced Demand" before. It's a bit humorous how induced demand has created a hazard for some downtown Condominiums.
Old farts have a problem walking over edges and don't like to look both ways. News at 9P.
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  #15224  
Old Posted Yesterday, 9:40 PM
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bunt_q bunt_q is offline
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Quote:
Originally Posted by laniroj View Post
Yea I’m still waiting for my account to monetize to get me some of those easy internet dollars! No, no I’m not. I’d rather eat my fingers down over time than post videos on the interwebs.

For some of you newbs on this forum (aka post 2014-era) this forum had NOTHING for an extended period of time there preceding and following the Great Recession. Doesn’t seem like we are headed quite for that but development velocity and new projects have certainly slowed quite a bit. To fill the project vacuum, we could…talk about…suggestions? Take five does do a good job of periodically introducing projects in the fringe. I’d love to see posts about condo developments (anywhere Denver metro). I know of maybe three annd two are Amacon…are there others?
At least during the Great Recession there were a couple wars (U.S. wars) going on to distract us from the lack of development news.

There's actually quite a bit going on in the public sphere, just not on the private development side, given rates.

I would love to hear everyone's ideas for downtown. What to do when (if?) the 16th Street Mall debacle is ever done? Strategies for how to incentivize the office-to-resi conversions that I assume most of us agree are the long-term strategy for revitalizing downtown? Stuff like that.
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  #15225  
Old Posted Yesterday, 11:39 PM
mhays mhays is offline
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A San Francisco group says there's a $267,000 "feasibility gap" to make office-to-residential conversions work there, on average. A Seattle developer who's done historic rehabs and new buildings says he thinks conversions cost twice as much as new construction. I have no idea what Denver's "gap" would be, but it's probably huge too. At least you're not a seismic zone.

In the Seattle area we're attacking this, though nowhere near enough. City Council is considering a plan to waive a lot of the fees we charge new construction, skip the design review process, and waive some of the other land use code requirements that apply to new construction. Meanwhile the State appears poised to let cities grant exemptions from charging our 10% sales tax on construction, but only if affordable units are included.

Collectively this might take the equation from "lol, no" to "sure, if lending rates drop a couple points, construction costs drop a little, the building is perfect, and we get the building at a 50% discount vs. 2020."
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  #15226  
Old Posted Today, 1:28 AM
laniroj laniroj is offline
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Originally Posted by mhays View Post
A San Francisco group says there's a $267,000 "feasibility gap" to make office-to-residential conversions work there, on average. A Seattle developer who's done historic rehabs and new buildings says he thinks conversions cost twice as much as new construction. I have no idea what Denver's "gap" would be, but it's probably huge too. At least you're not a seismic zone.

In the Seattle area we're attacking this, though nowhere near enough. City Council is considering a plan to waive a lot of the fees we charge new construction, skip the design review process, and waive some of the other land use code requirements that apply to new construction. Meanwhile the State appears poised to let cities grant exemptions from charging our 10% sales tax on construction, but only if affordable units are included.

Collectively this might take the equation from "lol, no" to "sure, if lending rates drop a couple points, construction costs drop a little, the building is perfect, and we get the building at a 50% discount vs. 2020."
Main problem is even the best office layout is maybe 70% efficient for residential. If you could get the office for around $50-$80/usable foot, it might work. That said, unless it's a bank auctioning the property, it seems unlikely to start seeing even the old office buildings trade for those numbers but who knows! I'd love to do one of those conversions and have been trying hard to make sense of those numbers. If the City offered free steam for 20 years, it might help to swing the needle a bit more too.
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