Welcome to Cherry Creek Perspective in a new more user-friendly format. We hope that you have found CCP a useful source of information about mobility and real estate in general, and in the central and southeast Denver area.
The new format of our email newsletters allows much more flexible viewing on mobile devices with small screens and desktops with wide screens. And Cherry Creek Perspective is now organized to allow quick and easy access to available current information from a variety of sources in addition to a searchable database of all of the JRES newsletters content available at:
jres.com/publication-content-search/
The latest on Real Estate and Mobility is also available at a Group in LinkedIn with that name and moderated by Bill James at:
www.linkedin.com/groups/4760558
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Many subscribers have expressed appreciation for the JRES newsletters. We hope they have served the commercial and residential real estate communities as well as they have provided us enhanced economic and market information for our real estate consulting and appraisal practice. JRES newsletters go to over 4,600 email addresses each week with open and click-through rates typically in the 25-30% range.
As suggested by some, with the enhanced format we will begin shortly to ask for financial compensation to offset the costs of preparation of the newsletters and database. We will continue to provide limited market information to all subscribers and ask for compensation for in-depth market information and analysis. Subscriptions and sponsorships will continue to be provided without charge to recent clients of JRES, sponsors of newsletters, and selected non-profit organizations.
If you are interested in familiarizing our subscribers with your organization through a logo and link on these newsletters, contact Bill James at bjames@jres.com or 303-316-6768.
Mobility
Transportation Solutions and OV Consulting have been working in cooperation with the City and County of Denver on the Multi-Station Plan and Mobility Study for Colorado and University Stations. Join them on May 9th to review draft recommendations for the future of the two station areas.
Date: May 9, 2017
Time: 5:00 to 7:00 PM
Location: Salem Church of Christ, 5300 E Florida Avenue
Or leave a comment or question on the project website at:
Transportation Solutions also thanks everyone who attended The Road Ahead 2017! On February 23rd, 200 local and regional officials, state and federal government representatives, and public and private sector participants, attended this year’s SOLD-OUT event! We were thrilled to explore how the application for on-demand mobility is poised to revolutionize the transportation landscape!
Rutt Bridges, Futurist, Entrepreneur, and Author of Driverless Car Revolution, kicked off the dynamic keynote panel with his perspective on the forthcoming economic and safety benefits of driverless cars. The conversation continued as Will Moore, Product Manager for BRIDJ, explored how demand-responsive pop-up transportation services are filling the gap between transportation network companies (TNCs), such as Lyft and Uber, and public transit. Emily Castor, the Director of Transportation Policy at Lyft, brought our keynote panel to a close by discussing how new innovations in mobility technology can contribute to “The End of Car Ownership,” and how a shared mobility model can improve our lives.
The local panel of experts comprised of Councilwoman Mary Beth Susman, Denver City Council, District 5; Crissy Fanganello, Director of Transportation & Mobility, City and County of Denver; Dave Genova, General Manager and CEO, RTD; and Bill James, Transportation Solutions Board Chair. Each local panelist reacted to questions from attendees—most of which related to local issues, including: transportation infrastructure, parking policies, and how existing transportation subsidies will adapt in the future.
View the photo gallery, video, and presentations from the event at:
www.transolutions.org/tra2017/
Many of the concepts discussed during The Road Ahead can be tied back to reducing single-occupant vehicle demand, increasing the efficiency of our existing transportation infrastructure, and in turn, re-allocating space in our cities to prioritize people, not cars. Lyft Co-Founder, John Zimmer continues this conversation in this compelling blog post from last September – The Third Transportation Revolution:
medium.com/@johnzimmer/the-third-transportation-revolution-27860f05fa91
Transportation Solutions is pleased to see a variety of projects being considered for funding for the 2017 GO Bond. Some of these projects will help further the bike system in southeast Denver, as well as improve several intersections that are both dangerous, and inefficient for both cyclists and pedestrians. Projects include bicycle and pedestrian improvements to: Alameda Parkway; Buchtel Boulevard; intersections along Colorado and University Boulevards; and a complete street along 1st Avenue between University Boulevard and South Garfield Street.
The Denver City Council small lot parking exception debate has triggered dialogue about a possible Transportation Demand Management (TDM) ordinance in Denver. With the purpose of reducing congestion and improving air quality, TDM ordinances typically require new construction to incorporate amenities and services that promote safer, alternative modes of transportation; sometimes in place of land-use regulations that require a minimum number of parking spaces. TDM ordinances exist in cities across the country, including: Cambridge, MA and San Francisco, CA. This could be a revolutionary step in providing more access and choice to how people move around our city!
Denverite reports a year of Denver’s train to the plane, by the numbers
- 144 – That’s the number of daily round trips between Denver Union Station and Denver Airport Station.
- 87.1 percent – In 2016, the University of Colorado A Line was on time 87.1 percent of the time. That’s below RTD’s own performance standard of 90 percent.
- 90.4 percent – So far this year, the A Line has been 90.4 percent on time. In the first two weeks of April, on time performance has been 94.4 percent and RTD General Manager Dave Genova was happy about that in the last board meeting.
- 5 million – There have been approximately five million A Line passengers in the first year the line’s operation.
- 98 percent – That’s the share of A Line trips that arrived at the Denver Airport Station within 15 minutes of expected arrival time.
- 20,500 passengers – May 13 was 2016’s busiest day for the A Line, with 20,500 passengers taking the train to the Colorado Rockies vs. New York Mets. That’s roughly 20 percent above the daily average.
RTD encourages residents of the eight-county Regional Transportation District who are interested in public transit issues and community engagement to apply for one of three vacancies on the RTD Citizens Advisory Committee (CAC). The 17-member citizens group has advised the agency on its voter-approved FasTracks program for the past 10 years. Last year, the committee’s role was expanded to also advise RTD on its strategies and initiatives. CAC members represent a wide variety of backgrounds, interests and professional experiences. The group’s public outreach meetings keep metro-area citizens informed of FasTracks progress and RTD programs and encourage input from local communities. Individuals interested in applying for a position on the CAC should submit letters of interest to rsherman@crlassociates.com. Letters should address the following:
Explain why you want to serve on the committee and what unique experience and skill-set you will bring. Describe affiliations and volunteer activities you believe will add value to the committee. Statement of personal objectives/goals if accepted for CAC membership. Please limit response to two (2) typed pages and feel free to attach a resume. Letters must be received by the close of business on May 12, 2017. Appointments to the panel shall ensure a broad representation of stakeholder interests, to achieve diversity and to provide geographical representation within the district. Selection criteria will include, but not be limited to, residency within the RTD district; a demonstrated interest in public transit and the FasTracks program; previous community service; experience working with local jurisdictions on regional issues; and professional expertise.
The RTD Citizens Advisory Committee (CAC) monitors and provides region-oriented advice on the FasTracks Plan and RTD’s strategic plan. It represents citizen and community perspectives on transit issues, and promotes public awareness of RTD’s programs, services and projects. The 17-member volunteer committee represents a cross-section of the region’s population and holds monthly work sessions. The CAC’s role is to:
- Continue to monitor and provide input on the improvements for each corridor in the FasTracks Plan.
- Become familiar with the District’s strategic plan and long-term vision.
- Provide region-oriented advice to RTD regarding the implementation of the strategic plan, its strategies and initiatives.
- Represent the citizen perspective on behalf of a wide range of stakeholder interests and community organizations.
- Gather information from community members to share with the agency.
- Share information with community members to promote public awareness of the agency’s programs and projects.
- Other tasks as assigned by the RTD Board of Directors.
For more information, contact Roger Sherman at 303-592-5465.
You may have noticed advertising on trains and buses and social media with Jimmy, a fictional character created to portray the bad behaviors that are sometimes conducted by RTD passengers. His rude behaviors are featured above the direct tagline “Don’t Be Jimmy” to show the community and passengers that RTD cares about our customers’ riding experience. This campaign was developed to start a conversation, a bit different than traditional etiquette messaging, and provide passengers with something to think about while riding transit. It is also a way to point out behaviors that can negatively affect the overall riding experience. For more information about the Jimmy campaign or to learn more about RTD’s Rider Code of Conduct, please visit
www.rtd-denver.com/dontbejimmy.
Denver City Council Member Wayne New announced a Cherry Creek South Drive Construction Meeting will be held at Central Christian Church at 3690 Cherry Creek South Drive, on Tuesday, May 23, from 6:00-8:00 pm. As the third and final phase of this street reconstruction project along Cherry Creek South Drive gets underway, Councilman New has arranged for representatives from Public Works, Parks and Recreation, Traffic Engineering, and construction contractors to be present to provide project information and answer your questions. This will be your opportunity to hear from the different departments on the construction and its impact to your area. More at:
www.denvergov.org/CherryCreekSouthDrive
Inter Neighborhood Cooperation reports the content of a recent meeting of its Transportation Committee. Stephen Rijo, Denver Public Works Transportation Demand Management program administrator was timely as many discussions in neighborhoods and at City Council are turning towards how we can find ways to address congestion in our growing city (and our growing region, with a large number of trips coming in and out of Denver every day). Transportation Demand Management, or TDM, is defined as various strategies that shift the how, when, and/or where of people’s travel behavior to increase system efficiency, reduce single occupancy vehicle (SOV) trips, and achieve specific planning goals.
Stephen presented his research on what other peer cities have been doing with their TDM programs, including Seattle, San Francisco, and Boulder. San Francisco’s model, just recently updated, includes a menu of options for all development to pick from in order to help manage the trip demand to and from their sites. Stephen was quick to emphasize that TDM is not a “one size fits all” program, but rather something that needs to be studied, adopted, and revised in each city based on goals and opportunities in that community.
When it comes to goals, Denver is already committed to reducing commute trips by single occupant vehicles to 60% of commute trips — right now we’re hovering in the mid-70s. It’s clear that “mode shift” isn’t happening by itself, and the time is right for us to make more intentional steps to make other modes more attractive and available. Stephen’s work in Public Works currently is focused on implementing a TDM program for the City of Denver employee base, and he presented many ideas they are pursuing beyond providing EcoPass at a significant discount to employees. What he learns there, and in coordination with Transportation Management Associations in the area (such as Transportation Solutions, Northeast Transportation Connections, and Commuting Solutions), will provide significant insight to a citywide TDM program. City Council, with leadership from Councilmembers Jolon Clark and Albus Brooks, are calling for the development of a Denver TDM program, which is expected to take 18-24 months, which we will hear more about in the coming months.
denverinc.us3.list-manage1.com/track/click?u=52bfcc8099cf3aaaf3a340b3f&id=fb7f07c18f&e=3cdef8d077
Denver’s Sidewalk Working Group progress to date was reported by Councilman Paul Kashmann who is leading that effort as part of an overall Mobility Working Group spearheaded by Councilman Clark. Finding a better, effective, equitable way to fund sidewalk installation and maintenance has been a priority for Denver neighborhoods for over a decade, as expressed in INC position statements and restated in 2015 in our Transportation Platform.
Councilman Kashmann shared his cautious optimism that the city can find a better way to manage sidewalk installation and maintenance. Although he was initially advised by long-time city participants to “not even try” to address sidewalks when he joined Council, today he finds unanimous support among his peers that we must find a better way — what we’re doing today isn’t working. In the last few months, the Mayor has convened a focused group including Councilman Kashmann, the budget office, Public Works, the City Attorney’s office, and others, to develop a recommendation on a funding source and approach by June 30th of this year. Their next meeting is in April, at which point they’ll have some initial thoughts on how the funding might work.
Separately from the topic of ongoing funding, Councilman Kashmann is also asking for $80 million from the General Obligation bond package (which is expected to be $500 million – $600 million overall), which is the estimate to fill in missing gaps in the sidewalk network.
The Capitol Hill United Neighborhoods Zoning, Transportation, Land Use, & Licensing Committee reports two developments regarding parking and traffic in Greater Capitol Hill. Scott Burton from Denver Public Works – Parking Operations presented a draft of the Capitol Hill Parking Area Management Plan that a committee has been working on for about a year. The committee identified a handful of opportunities to make parking more flexible and more consistent in the area surveyed and located about 65 additional parking spaces as a result of their work. Among the opportunities identified:
Using existing loading zones more efficiently and consistently, often shortening them, making the hours of use uniform and allowing overnight parking
Modifying “No Parking” sign locations
Modifying residential parking permits so they could be used within the total area instead of just on the block where the permit holder resides
Removing one- and two-hour parking limits in several areas
Also 19th and 20th Avenues Conversion to Two-Way Streets is being planned. Highlights include:
- Adding protected bike lane on 19th from Broadway to Grant and regular bike lane from Grant to Park Ave.
- Adding westbound bike lane eastbound “sharrow” on 20th and
- Removing five signals and converting them to four-way stops
- Modifying or adding signals at 19th and Lincoln and Broadway and on both 19th & 20th at Park Ave.
Also potential conversion of Logan St. from one-way northbound to two ways between 18th and 20th is under discussion.
From the LinkedIn Group – Mobility and Real Estate
Welcome to the 4th Industrial Revolution
“Autonomous cars : In 2018 the first self driving cars will appear for the public. Around 2020, the complete industry will start to be disrupted. You don’t want to own a car anymore…Real estate will change. Because if you can work while you commute, people will move further away to live in a more beautiful neighborhood…Electric cars will become mainstream about 2020. Cities will be less noisy because all new cars will run on electricity.”
www.commonsenseevaluation.com/2017/01/09/welcome-4th-industrial-revolution/#sthash.tcSMn5WV.dpbs
In the smart city race, we’re betting on transit
“While the rest of the world has been in a constant upheaval over the past decade, reinventing itself with technology and new business models, mass transit systems have stayed largely static — doggedly, determinedly moving millions of people each day with little influence from outside tech…A smart city approach — manifesting the internet in public space — will be the enabler of a transit experience that is more reliable, safer and efficient.”
techcrunch.com/2017/04/18/in-the-smart-city-race-were-betting-on-transit/
When car ownership fades, this parking garage will be ready for its next life
“AvalonBay Communities Inc. has planned the garage for a time when ride-sharing services such as Uber and self-driving taxis whittle down car ownership until parking places become expendable…While the prospect of dramatic changes in the way people get around stirs the blood of developers like Caruso, the anticipated years-long transition period to widespread autonomous vehicle use holds some dread for the general manager of the Los Angeles Department of Transportation, Seleta Reynolds.”
www.latimes.com/business/la-fi-car-future-real-estate-20170405-story.html
Park It Here: Driverless Cars And The Office Market
“Buildings will be able to get by with less parking onsite,” says Cheney. “Add to that the eventual capability for robo-parking, which is still too expensive to be practical for now, and operators will be able to cram a whole lot of cars into fewer spots…Cars will still have to nest somewhere, but they won’t have to nest necessarily in your building” There’s another consideration in the autonomous vehicle conversation that owners and developers will have to join . . . same-day package delivery and the strain that will put on traditional office methodologies. Obviously, he says, “Loading docks and other delivery spots will have to be designed for more volume.” Between cars queued up for robo-parking and autonomous deliveries waiting to unload, Cheney sees a situation akin to “the line that forms when parents drop their kids off at school.” It sounds whimsical, but it will be real problem for architects, owners and managers to deal with…While robo-parking might be a few more years down the road, driverless vehicles—both commercial and private—promise to disrupt the landscape in relatively short order.”
Flying Is About To Change Completely–Because Of Cars
“Not only will autonomous vehicles force airlines to compete with ground transportation in a more wide-scale manner, self-driving cars will likely fundamentally alter the nature of the airport itself. According to Sita CTO Peters, one of the primary ways self-driving cars will impact airports is by eliminating the need for parking structures, since people’s cars can feasibly drop them off and simply drive back home.”
www.fastcodesign.com/90108854/the-fast-line-free-future-of-flying
Freeway Lids: Reconnecting Communities and Creating New Land for Development
“Two of the most successful lid projects are Klyde Warren Park, which covers the Woodall Rogers Freeway in Dallas, and Chicago’s Millennium Park, constructed over a railyard, both of which were studied as models by the ULI Minnesota panel. ”
These 6 technologies are redefining the ‘smart city’
While autonomous vehicles dominate headlines, simply understanding people’s locations and desires offers both a big economic and social payoff. Ridesharing services like Via blur the distinction between private and public transportation, effectively creating “on-demand buses.”
technical.ly/brooklyn/2017/04/06/6-technologies-redefining-smart-city/
Real Estate
The Denver Business Journal reports that 31 projects totaling nearly $2.8 billion in investment are either planned or under construction in downtown Denver, according to the Downtown Denver Partnership’s annual report. These projects include 1,181 hotel rooms, 5,431 residential units and 2.5 million square feet of office space. Denverite reports that:
- 42 projects under construction or planned in 2017 are expected to bring 6,295 new residents and 8,805 employees to downtown.
- Those 42 projects represent a $2.77 billion investment in downtown and 1,181 new hotel rooms, 5,341 residential units and 2.5 million square feet of office space.
- Big brands planning to open downtown in 2017 include Whole Foods and Sephora. Target is expected to open in the area next year.
- Downtown generated $52 million in sales tax during 2016 — a roughly 60 percent increase since 2010.
- The area saw 16.4 million overnight visitors last year.
www.downtowndenver.com/wp-content/uploads/2017/04/State-of-Downtown-Denver-2017_SPREADS_email.pdf
Western Real Estate Business reports that the Colorado Rockies baseball club has signed a 30-year lease worth $215 million to continue to play at Coors Field in Denver. The Major League Baseball (MLB) team’s existing 22-year lease at the 50,480-seat ballpark was set to expire today. The Rockies signed the new lease deal with the owner of Coors Field, the Denver Metropolitan Major League Baseball Stadium District, a regional agency that comprises seven Denver-area counties.
“In addition to successfully meeting the objectives the Rockies and the Stadium District had from the beginning — keeping baseball in Colorado in a world-class facility at no cost to the taxpayers — we are proud that Coors Field will continue to be a vital part of a vibrant city, state and region,” says Dick Monfort, owner, chairman and CEO of the Colorado Rockies. The lease features three separate five-year extension options and will expire in 2047, when the ballpark will be 53 years old. The team will pay $1 million in annual rent and $1.5 million in contributions to the capital repairs fund, which totals $75 million for the life of the lease. The team will also lease the ballpark’s West Lot, a 291-space parking lot that is also owned by the stadium district, for 99 years with plans to pay the $125 million price tag in the first 30 years.
The 1.2 million-square-foot ballpark opened in 1995 and is now in its 23rd year of operation, making it the third-oldest ballpark in the National League. The Colorado Rockies club, which is responsible for the day-to-day operations and maintenance of the facility, has invested an additional $81 million in capital repairs, replacement and improvements between 1995 and 2016. Coors Field is situated on 76 acres at 2001 Blake St. and features 4,500 parking spaces. The venue attracts nearly 3 million visitors per year between the team’s 81 home games and more than 155 non-baseball and community events. During the 2016 season when the team posted a 75-87 record, roughly 2.6 million people attended the Rockies’ home games, according to Rox Pile, a Fansided website. This put Coors Field in the top 15 MLB venues with the highest attendance in the regular season.
Denverite reports: “Cherry Creek transformed from one of Denver’s first black “colonies” to the high-end neighborhood you know today”
www.denverite.com/how-cherry-creek-transformed-from-one-of-denvers-first-black-colonies-30791/
Platte to Park Hill Stormwater Systems project activity in the area includes construction of the 39th Avenue Greenway and Open Channel is expected to begin in late 2017 and be operational in late 2019.
Montclair is the largest basin in Denver with no natural drainage. Instead of floodwater flowing through the historic Montclair creek, which has long since been redeveloped, water runs through neighborhood streets. The City’s aging infrastructure must be replaced. In addition to protecting neighborhoods north of the 39th Avenue from damaging floodwaters when storms hit, the greenway will provide other neighborhood benefits that will be enjoyed year-round.
The open channel will stay mostly dry, and convey water only in storm events. Green infrastructure like the 39th Avenue greenway offers opportunities to better control stormwater and improve public safety and water quality. Read the design guidelines on technical/engineering elements to learn more. The greenway will serve as a safe, community gathering space. The community building design guidelines highlight opportunities for recreational spaces, public art, and storm event safety features.
Mobility and connectivity are high priorities for the project. The design guidelines call for pedestrian bridges, a shared street on 39th avenue (between Franklin to Williams), a bicycle/pedestrian path, and increased connectivity to other neighborhood attractions.
www.denvergov.org/content/denvergov/en/platte-to-park-hill.html
On Saturday, May 20 from 9 AM to 11 AM Mayor Michael Hancock will be holding his Cabinet in the Community meeting for City Council District 10 at the Denver Botanic Gardens. The meeting will be hosted by City Councilman Wayne New and Botanic Gardens CEO Brian Vogt. The Cabinet in the Community Program is the Mayor’s desire to reach out to City citizens to discuss important City and District issues and to give residents the opportunity to communicate their concerns directly to the Mayor and his staff. In addition to this town hall format with the Mayor, you will be able to meet members of the Mayor’s leadership team and to discuss specific issues directly with these department heads and their staff. Some members of the Leadership team members who should be attending are:
- Community Planning and Development (Brad Buchanan)
- Parks and Recreation (Happy Haynes)
- Human Services (Don Mares)
- Finance and Budget (Brendan Hanlon)
- City Attorney (Kristin Bronson)
- Public Safety (Stephanie O’Malley, Police Chief Robert White, Fire Chief Eric Tade, and Sheriff Patrick Firman)
- Independent Monitor (Nick Mitchell)
Entrance to the Botanic Gardens for this meeting with the Mayor will be free for this event. Garden parking will be available, and refreshments will be provided by Starbucks. This is a great opportunity to hear first-hand accounts of what is happening in our communities and throughout the city, and be able to ask questions on issues of importance to you.
Denver’s Neighborhood Planning Initiative is a new long-term commitment to ensure every corner of the city can enjoy the benefits of an area plan. In order to provide new and updated neighborhood area plans over the next 10 to 14 years, neighborhoods are being grouped together. As an example, six neighborhoods (Capitol Hill, North Capitol Hill, Cheesman Park, Congress Park, West City Park and City Park) along with Colfax Avenue will combine to form the East Central planning area. Residents, neighborhood groups, and community leaders will participate in this important planning effort. This summer, Community Planning and Development will begin the planning process for the East Central Area Plan, coordinating neighborhood, business, development and transit planning. The final plan will have a section on each neighborhood and common issues that affect the entire planning area. Notifications on all planned meetings and engagement opportunities will be sent as soon as the planning schedule is determined.
www.Denvergov.org/neighborhoodplanning.
Denver City Council Member Kendra Black encourages you to share your vision for the future. Through Denveright, the community will help guide and provide input on four plans: land use, transit, parks and rec, pedestrians & trails.
Parks: Take the Game Plan survey and share your thoughts on the draft plans maptionnaire.com/en/1921/.
Transit: Three ways to provide feedback:
- Participate in the interactive Build Your Own Transit System activity at denvermovestransit.org/
- Stop by one of seven Neighborhood Drop-in Workshops at denvergov.org/denveright
- Take the online survey at denvermovestransit.org
Denverite reports that Denver’s High Line Canal is getting multi-million dollar upgrades to benefit trail users. “This open-air ditch is actually a terribly inefficient way to deliver water, with some 80 percent of its water sinking into the soil or evaporating — but it may have another future. Its waters have created a rich creekside ecosystem, and its paved service road has since the 1970s served as an escape for cyclists and pedestrians. Now there’s a new push to remake the canal with mobility in mind.”
www.denverite.com/high-line-canal-denver-getting-multi-million-dollar-upgrade-34188/
In January, the Urban Land Conservancy announced that Zocalo Community Development is their master development partner for their six-acre 4800 Race Street Transit Oriented Development (TOD) site in Denver’s Elyria Swansea neighborhood. The mixed use development is set to be completed in multiple phases over several years, with a goal of its initial phase being operational in line with the opening of RTD’s North Metro Rail Line in late 2018. The development will include up to 560 residential units, as a combination of mixed-income rental and mixed-income for sale homes.
In 2016, ULC and Denver Office of Strategic Partnerships (DOSP) led the joint effort to find a new nonprofit to manage the Denver Shared Spaces program, as the organization has grown significantly since ULC and DOSP started the program in 2009. In seven years, DSS supported 28 shared spaces that represented over 350 nonprofits, government agencies and mission-driven businesses. The steering committee led by ULC and DOSP, chosen to house the organization with Radian, a collaborative design group focused on creating healthy and sustainable communities in underserved areas of Denver. As a nonprofit community design center, Radian provides urban design and architectural services, with efforts to help connect neighborhood-based projects with the design community.
www.radianinc.org/denver-shared-spaces/
From Real Estate Perspective
