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  #6741  
Old Posted Sep 9, 2019, 8:54 PM
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Originally Posted by CherryCreek View Post
Interesting plans for the 18 story building near Belleview and I25 (right next to the Western Union headquarters building).


Although earlier the word was that it would simply be a hotel. Businessden is reporting that it would mostly be office, but would also include a hotel, with lots of ground floor retail:

The plans show the building would have retail, restaurant and lobby space on the ground floor, and amenities, including a pool, conference room and fitness area on the second floor. Above that would be five floors of hotel rooms, approximately 236 rooms in all, topped by 11 stories of office space.

In all, 355,419 square feet would be devoted to office use, compared to 145,651 square feet of hotel rooms. There would be three levels of underground parking.


https://businessden.com/2019/09/09/h...ce-than-rooms/

The Belleview station TOD is really looking solid!
I drive through there every day and love what's going on. The new buildings just keep coming!

I work in Lone Tree and looking north from our building, there is a very solid "tech center" (and surrounding area) skyline view, with downtown off in the distance behind it. You can take a pretty good picture with two skylines and a mountain backdrop.
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  #6742  
Old Posted Sep 9, 2019, 10:02 PM
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Originally Posted by COtoOC View Post
I drive through there every day and love what's going on. The new buildings just keep coming!

I work in Lone Tree and looking north from our building, there is a very solid "tech center" (and surrounding area) skyline view, with downtown off in the distance behind it. You can take a pretty good picture with two skylines and a mountain backdrop.
If it all gets built, it can become the "downtown" of the tech center, with multiple mid rise offices (up to 20 stories), hotels, restaurants, retail, and residences within easy walking distance, just a few blocks of each of each and of light rail. It will be an added irony that the first truly urban part of the Tech Center gets built on the Denver side of the border.

Last edited by CherryCreek; Sep 9, 2019 at 10:24 PM.
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  #6743  
Old Posted Sep 10, 2019, 2:54 AM
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Originally Posted by CherryCreek View Post
If it all gets built, it can become the "downtown" of the tech center, with multiple mid rise offices (up to 20 stories), hotels, restaurants, retail, and residences within easy walking distance, just a few blocks of each of each and of light rail. It will be an added irony that the first truly urban part of the Tech Center gets built on the Denver side of the border.
I don't know it still doesn't feel "urban" even with all of the added density because it's an island sandwiched between Belleview, I-25, garden-style apartments to the north and huge lot mega-mansions to the west. It reminds me of the high density commercial developments that line the highways in Dallas and Houston. Too bad a lot of these projects planned for Belleview Station aren't happening in more connected TOD's like I-25/Broadway or Colorado Station.
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  #6744  
Old Posted Sep 10, 2019, 5:29 PM
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I don't know it still doesn't feel "urban" even with all of the added density because it's an island sandwiched between Belleview, I-25, garden-style apartments to the north and huge lot mega-mansions to the west. It reminds me of the high density commercial developments that line the highways in Dallas and Houston. Too bad a lot of these projects planned for Belleview Station aren't happening in more connected TOD's like I-25/Broadway or Colorado Station.
I don't disagree. I wish the residential stuff built around Belleview Station was more dense (like 10 to 20 story stuff) instead of the 3 to 4 story stuff that's there. Somewhat of a lost opportunity.
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  #6745  
Old Posted Sep 10, 2019, 6:57 PM
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Quote:
Originally Posted by CherryCreek View Post
If it all gets built, it can become the "downtown" of the tech center, with multiple mid rise offices (up to 20 stories), hotels, restaurants, retail, and residences within easy walking distance, just a few blocks of each of each and of light rail. It will be an added irony that the first truly urban part of the Tech Center gets built on the Denver side of the border.
Well, it's denser that some other suburban office parks I've seen. Is there a height limit? The obviously tallest down by Arapahoe looks like its a little over 20 stories.
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  #6746  
Old Posted Sep 10, 2019, 7:15 PM
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Originally Posted by BG918 View Post
I don't know it still doesn't feel "urban" even with all of the added density because it's an island sandwiched between Belleview, I-25, garden-style apartments to the north and huge lot mega-mansions to the west. It reminds me of the high density commercial developments that line the highways in Dallas and Houston. Too bad a lot of these projects planned for Belleview Station aren't happening in more connected TOD's like I-25/Broadway or Colorado Station.
It's all about the history of DTC.

Going back to the 1980's thru the early 2000's that corner wasn't even considered the tech center and wasn't desirable. The good news is that along came light rail and the Belleview Station. That slice of land was generally a blank slate; there was a driving range and some mish-mash so it was at least ripe for TOD to occur.

I believe Monoco is the Denver boundary line and to the west is Cherry Hills Village. Back then the notion of mixed-use was not a part of the vernacular. All that open land to the north was held by the Koelbel family awaiting development demand. Given the times that land was viewed as modest density for generally upscale residential. If one could turn back the clock it's amazing the potential for that area with today's vision of mixed-use, mixed density development.
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  #6747  
Old Posted Sep 10, 2019, 7:33 PM
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Now I know
cuz I seen it with me own eyes.

They're building all those McGregor Square buildings at the same time.
I know, much thanks to RyanD's great photo work at DenverInfill.
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  #6748  
Old Posted Sep 10, 2019, 9:54 PM
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BUT there's more than enough already in Denver's pipeline assuming the many projects that could break ground before this even goes into effect that at least in the near term I see little impact on Denver.
What would lead you to believe there is already enough in Denver's pipeline? Are vacancies heading up fast and rents are coming down? Is for-sale inventory spiking and home prices decreasing? How, precisely, is Denver's pipeline currently keeping up with demand when our rental and for-sale housing markets remain unbalanced? By the way, you may have seen Hancock's remarks on the slowing development fees the City is collecting...our pipeline is already slowing down substantially.
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  #6749  
Old Posted Sep 11, 2019, 3:57 AM
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Well, it's denser that some other suburban office parks I've seen. Is there a height limit? The obviously tallest down by Arapahoe looks like its a little over 20 stories.
Pretty sure that on the east side of I-25 (north of Belleview) the zoning was the same as the downtown core or B-8. Chances are it's the same over there.


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What would lead you to believe there is already enough in Denver's pipeline? Are vacancies heading up fast and rents are coming down?
Sign of the Times

Enjoy newly reduced pricing + 6 weeks of rent-free living + waived fees!


Courtesy Mill Creek Res/Modera Cap Hill
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  #6750  
Old Posted Sep 11, 2019, 4:43 AM
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Originally Posted by TakeFive View Post
Pretty sure that on the east side of I-25 (north of Belleview) the zoning was the same as the downtown core or B-8. Chances are it's the same over there.




Sign of the Times

Enjoy newly reduced pricing + 6 weeks of rent-free living + waived fees!


Courtesy Mill Creek Res/Modera Cap Hill
That’s a bad example to prove your point. I looked at that place and the rent they were originally asking for was comparable to what they are asking in Union Station/ Riverfront but not as nice area. Last I heard at my place, Alexan 20th Street Station, has leased 40% of available units (upper floors are still being finished) which isn’t bad considering it’s only been open for a little under two months.
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  #6751  
Old Posted Sep 11, 2019, 5:55 AM
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Oh Oh
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That’s a bad example to prove your point. I looked at that place and the rent they were originally asking for was comparable to what they are asking in Union Station/ Riverfront but not as nice area. Last I heard at my place, Alexan 20th Street Station, has leased 40% of available units (upper floors are still being finished) which isn’t bad considering it’s only been open for a little under two months.

Source
Actually my primary point went to a pipeline of projects that won't even be completed for another 2 to 3+ years depending on when they actually break ground prior to end of next year. There's a couple of 700-unit projects, 3 towers in AS, a bunch of mid-rise proposals in RiNo and near 38th and Blake, Golden Triangle, units proposed at Evans/I-25, along West Colfax near Sloan's, at Mile High stadium, in Cherry Creek etc.

That was interesting feedback though and I did wonder if maybe Modera Cap Hill started with too high of expectations.
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  #6752  
Old Posted Sep 11, 2019, 6:23 PM
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Applying some common sense to statistics

DBJ has a piece ranking cities by number of apartment units expected to deliver in 2019 based on data from RentCafé. Denver is ranked ahead of Portland, Minneapolis, Tampa, San Francisco, Boston, Charlotte, San Jose and Orlando at No. 12 just behind Chicago.

Obviously, these numbers can bounce around from year to year. In fact, last year Denver delivered 15,187 new units while in 2019 RentCafe is estimating 6,836 new apartment units. What if we averaged both years together? Let's see where 11,000 new units would place Denver this year.

In addition to the above named cities at 11,000 units Denver would also rank higher than Chicago, Houston, D.C., Phoenix, Los Angeles, Atlanta and Austin at No. 5 behind only Miami, NYC, Seattle and Dallas-Fort Worth.

I would also suggest that much of the disparity from 2018 to 2019 is much fewer units being delivered from the suburbs.
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  #6753  
Old Posted Sep 11, 2019, 6:33 PM
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I guess the question is, if development fees being collected by the city are down, and it's a trend, why?

Is this part of a macro trend pointing towards a slowdown in the overall economy? Or, is this simply the pace of development in Denver leveling off? In my neighborhood (Jefferson Park), I really haven't seen a noticeable slowdown in new housing construction. There are multiple projects that are either beginning construction, or have just begun, and a few others in various stages of construction. If you compare to a couple years ago, then yeah I could see how the numbers suggest a slowdown, but hard to say what exactly is driving all of it.
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  #6754  
Old Posted Sep 11, 2019, 7:45 PM
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Originally Posted by Ich View Post
That’s a bad example to prove your point. I looked at that place and the rent they were originally asking for was comparable to what they are asking in Union Station/ Riverfront but not as nice area. Last I heard at my place, Alexan 20th Street Station, has leased 40% of available units (upper floors are still being finished) which isn’t bad considering it’s only been open for a little under two months.
Capitol Hill has had a very small share of the growth that has driven the Denver boom over the past 8 years. The original great Denver urban neighborhood has not really boomed during one of the greatest urban booms in the City's history. In part, perhaps it's because of all the "land farmers", owning open parcels in Capitol Hill who are happy to hold onto their parking lots for generations, rather than sell to developers. Looking at the silver lining, the undeveloped parts of Cap Hill remain a "land bank" from which future urban development can draw.
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  #6755  
Old Posted Sep 12, 2019, 12:18 AM
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I recently talked to my neighbor who is an "ibuyer" for Redfin. Mostly small talk but I told him that I flip houses and if he has anything that doesn't fit his bill send to me etc etc. Long story short their margin is so tight, so tight, like their target annualized ROI is like 3-5%. Absolutely insane when you think that its a declining market.

For the big big guys, is 5% annualized return acceptable? Probably
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  #6756  
Old Posted Sep 12, 2019, 4:22 AM
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Capitol Hill has had a very small share of the growth that has driven the Denver boom over the past 8 years. The original great Denver urban neighborhood has not really boomed during one of the greatest urban booms in the City's history. In part, perhaps it's because of all the "land farmers", owning open parcels in Capitol Hill who are happy to hold onto their parking lots for generations, rather than sell to developers. Looking at the silver lining, the undeveloped parts of Cap Hill remain a "land bank" from which future urban development can draw.
How many large lot open parcels are there available in Cap Hill for the big national developers? Not too many. If Cap Hill had lots of missing teeth and 17 story height limit might have seen more there.
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  #6757  
Old Posted Sep 12, 2019, 3:20 PM
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I can't keep track of all of the RiNo developments anymore....

https://businessden.com/2019/09/12/1...long-brighton/
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  #6758  
Old Posted Sep 12, 2019, 6:04 PM
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I can't keep track of all of the RiNo developments anymore....

https://businessden.com/2019/09/12/1...long-brighton/

Speaking of RiNo developments, Carmel Partners has broken ground on their development at 3301 Brighton Blvd that's called Carmel Drivetrain. Not too much information on this 400-odd unit development, but I found this rendering:

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  #6759  
Old Posted Sep 12, 2019, 6:21 PM
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So that's the resurrected DriveTrain? Actually looks pretty cool from the renderings. City website says "Other" for use, so I am assuming it has ground floor retail? I was at the Woods on Saturday night and noticed equipment on the site, but wasn't entirely sure if something broke ground or not.
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  #6760  
Old Posted Sep 12, 2019, 6:37 PM
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So that's the resurrected DriveTrain? Actually looks pretty cool from the renderings. City website says "Other" for use, so I am assuming it has ground floor retail? I was at the Woods on Saturday night and noticed equipment on the site, but wasn't entirely sure if something broke ground or not.
Yes for the ground floor retail/commercial space. Looks to be fronting the entirety of Brighton. According to the permit page shoring permits have been issued and foundation permits are under review.

Amazed that this section of Brighton has 1,200 plus units of new housing U/C at the moment.
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