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
Please forward this email to others who may want to subscribe at:
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 reports that the GO Bond Transportation & Mobility Committee has completed its work, and these outcomes are on their way to the Mayor’s Office for consideration. The projects that are being recommended were divided into 3 tiers (or buckets) based on priority. The projects of interest are:
Station-Area Improvements (Colorado Blvd & Buchtel) – $8.4 Million – Tier 1
1st Avenue Complete Street including intersection improvements at 1st Avenue and Steele Street – $15 Million – Tier 1
Alameda Parkway – $5.5 Million – Tier 3
Many on the committee feel that Tier 1, and all or part of Tier 2 could be funded. Tier 3 would only be funded if the total bond amount increases.
RTD reports that RTD and its contractor, Denver Transit Partners (DTP), were granted a 90-day waiver by the Federal Railroad Administration (FRA) to continue operating the University of Colorado A Line and B Line until July 30, 2017. RTD and DTP have made strides with the timing of the crossing gate arms along the University of Colorado A Line and continue to coordinate with the Federal Railroad Administration and the Colorado Public Utilities Commission to meet the design time for the gate activation software.
www.rtd-denver.com/Fastracks.shtml#completed-projects
Denver City Council member Mary Beth Susman reports that as our population grows, Denver needs more transportation choices to move more people efficiently and safely on our existing street network. Denver is creating a 20-year transit vision and implementation plan for Denver. The Denver Moves: Transit plan will create a local transit vision by convening community conversations to understand the existing transit system and how we can make it even better for all Denver residents, employees, and visitors. Neighborhood Drop-In Workshops were held in May and an interactive Build Your Own Transit System activity gives you the opportunity to select different options that make up your ideal system. Your choices will make transit even better for people who live, work, and play in Denver. As you develop your system, you’ll also see the benefits — such as increased ridership, improved travel time, multimodal connections, and passenger experience — in real time. Your responses will guide the Denver Moves: Transit plan and shape its recommendations. Try it now!
The Denver Moves: Pedestrians and Trails team will soon release a report summarizing the existing conditions of Denver’s pedestrian and trail network. Learn more about the plan at:
www.denvergov.org/content/denvergov/en/denveright/pedestrians-trails.html
From the LinkedIn Group – Mobility and Real Estate
Door-to-Downtown: How Boulder, Colorado, Tested the Future of Mobility
“… offered local residents the opportunity to travel to and from downtown using door-to-door mobility services at a price that was competitive with driving and parking their personal vehicles. This price point is important because, according to recent research by Rocky Mountain Institute, door-to-door service prices will fall over the next several years and become much more competitive with private vehicle use. As a result, Boulder tested the demand and effectiveness of tomorrow’s mobility system, today.”
rmi.org/news/door-downtown-boulder-colorado-tested-future-mobility/
The mall isn’t dead — it’s just changing
“In Hong Kong, these urban malls took off after 1975, when the local government created the Mass Transit Railway Corporation (MTRC). In addition to building metro lines, the MTRC developed land. (In most cities, transit corporations are separate entities from developers.) The unique arrangement allowed the city to seamlessly integrate subway stops with office and shopping complexes. Hong Kong’s urban mega malls quickly became the most visited malls in the world.”
www.bizjournals.com/newyork/news/2017/05/20/the-mall-isn-t-dead-it-s-just-changing.html
Cultural Revolution – Driverless vehicles will dramatically change the commercial real estate landscape.
“Globally, the population trend is that 70 million people annually are moving to cities…A major question is how the onset of autonomous vehicles will affect the urban-suburban dynamic. People may be drawn to the suburbs because commuting in a driverless vehicle would be less stressful and more productive, while the cost and headache of urban parking would no longer be an issue…On the other hand, as parking garages and other automobile-related space are converted to residential, recreational, or commercial uses, could cities become less expensive and more attractive to newer demographics?”
www.ccim.com/cire-magazine/articles/2017/05/cultural-revolution/
As self-driving cars hit the road, real estate development may take new direction
“A recent policy brief by the Institute of Transportation Studies at University of California, Davis, was even more clear. The convergence of three new technologies—automation, electrification, and shared mobility—has the potential to create a whole new wave of automation-induced sprawl without proper planning and regulation…As local governments deal with important transportation and land-use issues, the results of these decisions will potentially inflate or depress real estate values and change the way developers operate. Even expected shifts in roadway and traffic design that will be made in the next few decades suggest big shifts will come to future development.”
www.curbed.com/2017/5/16/15644358/parking-real-estate-driverless-cars-urban-planning-development
There are three revolutions in urban transportation coming down the road
“Now a new study from the UC Davis Institute of Transportation Studies and the Institute for Transportation and Development Policy (ITDP) takes a stab at the different scenarios in their new report, Three revolutions in urban transportation. The three revolutions happening all at once are the move to electric vehicles, automation, and sharing.”
Auto parking or affordable housing? Portland Mayor says debate is “over”
“But I want to put a marker down. The debate: Parking vs. Housing? It’s really over. That piece of the conversation is over. When younger families or younger people say they want to locate here, the first thing they’re saying isn’t ‘Boy I wish I had another parking space, or had access to a parking space.” What they’re saying is, “I can’t afford to live in this city.” And, so, the city, meaning the debate that happened over the last three years actually made a choice, and the choice was affordability and housing over access to parking. I just want you to be aware that that is a real dynamic and is a real choice and it was made with full community involvement.”
From Real Estate Perspective
