Cherry Creek Perspective

Welcome to Cherry Creek Perspective – monthly news of mobility-related and affordable housing real estate throughout the Denver-metro area, and news of real estate, public sector and economic developments in the southeast Denver – Glendale area, relying in part on articles published in Real Estate Perspective. To read the newsletter easily on a mobile device go to:

Research a property or a market in our searchable on-line library of Real Estate Perspective articles compiled since 2001 at:

Each business day for Real Estate Perspective, the JRES staff reviews all Denver metro area wide and local newspapers, trade journals, government websites, blogs and other sources for commercial and residential real estate and economic news. News items are condensed into easily readable summaries providing all of the essential facts for the Real Estate Perspective newsletter. And Apartment Perspective, provides a detailed update of Denver metro area apartment rental, vacancy and development/construction activity including proposed projects.

The latest on Real Estate and Mobility is also available at a Group in LinkedIn with that name and moderated by Bill James at:

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Special Announcement – Mobility Choice Blueprint – Denver Metro Area – Take the Quiz

The Mobility Choice Blueprint is a collaborative strategy to help the Denver metro region identify how to best prepare for and invest in the rapidly changing technology that is revolutionizing transportation mobility. A unique planning and funding partnership of CDOT, DRCOG, RTD and the Denver Metro Chamber is creating the Mobility Choice Blueprint – a coordinated strategic direction for the evolving mobility of the region related to walking, bicycling, driving and transit. The 2030 Blueprint will analyze travel trends and technologies in the region, explore and evaluate various technologies and their implications for mobility, align transportation investments of multiple public agencies and create new planning and implementation partnerships.

5 minutes of your time will help shape the future of mobility in the Denver metro area! Take this unique quiz:



This seminar will address the changing landscape of the office market in Colorado, with a focus on leasing and investment trends and evolving office design as they relate to the valuation of office assets.  Speakers will discuss market conditions across property class and location including: Occupancy and rental rate trends, market demographics, and investment metrics, recent changes in design, including: costs and benefits of amenities, financial feasibility of retrofitting older buildings, co-working features and design, and common area/flex work spaces

Discussion of critical design features for supporting and attracting employees back into the office, improving productivity, and attracting/retaining top employee talent, the importance of change management and how tailoring space to a company’s culture and purpose outweighs any current trends – the critical issues that must be addressed in any appraisal assignment involving an office property.

7:30 AM-8:00 AM – Registration and Continental Breakfast

8:00 AM-Noon – Seminar Presentation

Noon-1:00 PM – Lunch and Chapter Meeting

Summit Conference and Event Center 411 Sable Blvd., Aurora, CO 80011

FEES (Include lunch) – Appraisal Institute Members – $55.00, Non-Members – $75.00

Lunch Only – $25.00 Colorado Chapter Meeting (call the Chapter office – 303-691-0487)

CONTINUING EDUCATION: Appraisal Institute – 4 Hours, State of Colorado – 4 Hours


Jim Sobey, Sobey Architecture

Whitney Hake, SVP, Transwestern

Carson Erard, Real Estate Consultant, Fielding & Associates

James Brady, 1st VP CBRE Investment Properties

Casey Kent, Senior Associate, DLR Group’s Workplace Studio


CCIM – Lunch & Learn – Legal & Legislative Update

June 8, 2018 – 12:00-2:00 PM

Colorado Bar Association, 1900 Grant Street, Suite 900, Denver

John Logan, Partner, Laff Gordon Bennett Logan P.C. will present an update and review of national, state and local legislative and regulatory issues affecting commercial real estate.

2 CE Credits – Colorado – Free for Members if Pre-Registered, $25 for guests, nonmembers and on-site registrants, lunch is included








22nd Annual Cherry Creek Rotary Open Golf Tournament
Thursday, July 19th – Noon – Dinner – Bear Dance Golf Club
Our annual golf tournament is a win/win/win. Colorado fresh air and sunshine attract Rotarians, friends and sponsors for a fun day on the links to raise money to support our signature projects – from literacy in Colorado to dental care for kids abroad.


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Talking Headways Podcast: Innovation at LA Metro
“LA Metro CEO Phil Washington joins the podcast this week to discuss new developments in Los Angeles transit. Listen in and hear about Metro’s Office of Extraordinary Innovation, the potential for autonomous buses, micro-transit pilot programs, and new fare media, as well as the links between affordable housing production and transit.”

The state of self-driving car laws across the U.S.
“The most popular topic, with 11 state laws, is exemptions to following distance rules that allow for truck platooning. Drivers typically maintain an appropriate following distance from other vehicles to account for speed, road conditions, and human reaction times when traffic comes to a stop. With wireless communication, a line of trucks can accelerate and brake over much shorter distances. Closer following distances in a truck platoon lowers air resistance on the following vehicles, with fuel savings that add up quickly for multiple trucks hauling cargo over long distances. The popularity of platooning laws suggests a wider focus on commercial applications of autonomous vehicle technology on the state level.”

Elevation – how drones will change cities
“Architecture will change dramatically as the ground floor entrance is replaced by rooftop landing, parking and recharging zones and deliveries arrive via specially constructed portals on the sides of buildings.”

“Unbundling” parking costs is a top way to promote transportation options
“In the county – right across the Potomac River from Washington, D.C. – parking appears to be overbuilt, with parking utilization only reaching capacity in four of the 32 buildings studied in Arlington County Residential Building Study: Aggregate Analysis Update. The average maximum use was 78 percent, meaning more than 20 percent of parking supply is excess.”

Madrid Takes Its Car Ban to the Next Level
“Even on a continent where many cities are scaling back car access, the plan is drastic. While much of central Madrid consists of narrow streets that were never suitable to motor vehicles in the first place, this central zone also includes broad avenues such as Gran Via, and wide squares that have been islands in a sea of surging traffic for decades. The plan is thus not just about making busy central streets more pleasant, but about creating a situation where people simply no longer think of bringing their cars downtown.”

Lime sees little wheels as route-scootin’ biggie
“Lime, known for its Aurora bikeshare program, is giving the people of Denver what they never knew they wanted: a fleet of shared, dockless electric scooters that cost a buck each to unlock via an app and 15 cents per minute to zoom around…The city is concerned about the use, placement and number of scooters operating on Denver’s sidewalks, particularly in high-pedestrian traffic zones, Denver Public Works department spokeswoman Nancy Kuhn said in an emailed statement. The city was only notified of Lime’s plans a few days ago.

On the Road Again: How Advances in Transportation are Shaping the Future of Real Estate
“San Francisco’s on-transit apartments commanded a 21% higher asking rent in 2013
than those that were located off-transit, but shortly after reaching this level, and
just two years after the launch of Uber, this premium began to decline. Once Uber
and Lyft’s carpooling services began in 2014 the decline accelerated, and the rent
premium for on-transit apartments now sits at around 15%.”

Rapid Evolution – Bridging the last mile…
“Retailers would love to bring industrial warehouse and fulfillment centers closer to the rooftops. However, several barriers exist before than can happen. Typically, empty big box stores aren’t equipped with the features that would be needed to convert space to a warehouse and distribution use, such as high ceiling heights, loading docks, and truck doors. “Those are really important pieces of the puzzle when you are designing a distribution center or warehouse that you obviously don’t have in a retail location,” Bufe says. Zoning is another big stumbling block.”

Apartment Developers Try to Figure Out the Parking Equation in a World with Fewer Cars
“In suburban areas, leading apartment developers like The NRP Group often build 1.6 to 1.8 parking spaces for every apartment. “Location is absolutely the key,” says Carolyn Mendel, vice president of development for The NRP Group. “In the suburbs, people love to have easy access to the commuter rail, but more often than not, residents who commute via train will still have a car to get around on weekends.”

In many urban areas that provide more transit options for residents NRP builds far fewer parking spaces—typically 0.5 to 1.5 per apartment. “We are even starting to see apartment projects in the urban core building without any parking at all, which is a relatively new phenomenon for this market [Boston],” says Mendel.

These needs are changing rapidly, especially as options like Uber and bike-share programs change how urban residents get around, Mendel notes.”



Transportation Solutions reports that Neighborhood Mobility Hubs are emerging around the country as a way to connect public transit with surrounding neighborhoods. These hubs are a collection of transportation services that help travelers make their “first and last mile” trips between transit stations, home, work or other desired destinations. Creating a Neighborhood Mobility Hub can be as easy as placing bikeshare, carshare, shuttles or ridesharing (i.e., Uber or Lyft) in close proximity to a transit station. Wayfinding and safe pedestrian facilities are included to connect the stations to these services. Transportation Solutions is exploring options for creating Neighborhood Mobility Hubs in southeast Denver and Glendale. In 2018, we are continuing our focus on the University of Denver and Colorado Light Rail Stations as emerging mobility hubs. Starting this summer, the University of Denver will begin to pilot a micro-transit service that connects the campus with the rail station. Additionally, DU is preparing to launch a dockless bikeshare pilot soon. Transportation Solutions is also studying a potential micro-transit service connecting Cherry Creek with nearby rail stations.

Bike to Work Day (BTWD) 2018 is just around the corner and we can’t wait to ride with everyone! Did you know that Transportation Solutions can be your resource in planning or promoting BTWD or a BTWD Station? We will be working with local organizations to host several BTWD Stations, including at the following locations: Colorado Center, Cherry Creek North, Creekside Park, and University of Denver. BTWD Stations offer free food, swag, bicycle maintenance, and more for bicycle commuters on BTWD. If you are a community member or employer who would like to help promote, participate, or host a station for BTWD 2018, please contact Robby Long at If you plan to bike to work on June 27th, don’t forget to register beginning May 1st (the earlier you register, the more likely you are to win one of the many amazing prizes this year).

And check out the RTD Bike-n-Ride program to learn how to combine your bike ride with bus or train.

RTD will join other public transit agencies across the nation for Dump the Pump Day on Thursday, June 21. As a crucial part of the solution to the nation’s economic, energy, and environmental challenges, this annual campaign sponsored by APTA, encourages people to find alternate modes of transportation, instead of driving their cars. By choosing public transit, you can save money, conserve gasoline, and help reduce harmful greenhouse gases. Calculate your gas savings using the public transportation fuel savings calculator.

On April 19, 2018, the Colorado State Senate passed the “Safety Stop” bill, which provides common language for local governments to adopt rules allowing bicyclists to treat stop signs as yield signs and stop lights as stop signs when the coast is clear. The bill is expected to be signed into law by the Governor soon! Transportation Solutions is excited that communities around Colorado will now have the option to legislate safer behaviors for people riding bikes.

Denver City Council Member Kendra Black reports that our two Southmoor Station Visioning meetings held in February and April were a great success with hundreds of participants sharing their ideas. Neighbors want local, neighborhood-feel, and suburban/urban with restaurants, community spaces, and housing choices like townhomes. Residents do not want big box stores, national chains or office buildings. During the planning process, community members will further develop a community vision in a way that will direct future development.

We are proud to announce the completion of 3 public art projects: the art bus shelter displaying student art, the community tile mural and the art bus bench. These projects brighten this stretch of Hampden and offer a safe and pleasant wait for students and commuters. Thank you to our incredible partners: TJ PTO, TJ faculty and art students, Denver Arts & Venues and RTD for making this project happen. Attend the Ribbon Cutting Ceremony Thursday, June 7, 4 pm, bus shelter on south side of Hampden, west of Ivanhoe. Check out the new bench on the north side of Hampden at Holly painted by TJ students.

Challenging the car-centric behavior of SE Denver, No Drive Friday is our campaign to reduce car traffic on Fridays. Use alternative transportation like biking, walking or public transit! Southeast neighbors have joined the movement, committing to drive-free Fridays. Are you up for the challenge? Let us know by sharing your photos on social media with the hashtag #NoDriveFriday or by emailing

Located at I-25 & Colorado Blvd., the Colorado Center is a hub for entertainment and office space, all within walking distance of the light rail station. Cigna announced they will move their regional headquarters to the recently completed Tower 3, bringing more than 1,000 employees to the area. Future plans include a food hall with local chef-driven concepts, a live performance venue and outdoor plaza that will open in early 2019.



Denver has a housing crisis. Guess who’s got 5,000 acres and a moral mission?

“I had an intern last summer start to go county by county through ownership data — and what we found were thousands of undeveloped acres that are owned by faith communities,” said Nathan Hunt, an organizer with the Interfaith Alliance of Colorado…Many churches bought cheap land at the urban fringe, then found themselves enveloped by the latest wave of development, making their land more valuable and accessible. In other cases, faith leaders saw the growth of “megachurches” in the 1980s and ’90s and decided to buy up acreage, hoping that their congregations would boom too. “So they bought 15 acres, and that didn’t happen, and that’s fine,” Hunt said, “but now they’re mowing a whole lot of property and don’t know what to do with it.” But, increasingly, faith leaders are looking for new ways to use their land. In all, Hunt already has identified 16 local churches and one mosque that are interested in developing their property for affordable housing purposes.


Denver City Council Member Mary Beth Susman reports that the Green Roofs Initiative – Public Comment period closes soon. The task force has a working draft proposal available for public review and comment. The task force believes the proposal respects the spirit of the initiative and achieves many climate benefits. We also believe this compromise proposal will lead to more flexibility for how developers and builders can comply with the initiative compared to how it is currently written. View the draft proposal and cost analysis at:

The City is ready to begin the first 2017 General Obligation Bond (GO Bond) projects in Denver’s neighborhoods. The proposed list of first round projects totals $193 million and includes bike lanes, improved roads, bridges, park enhancements, and major construction of cultural facilities and Denver Health.