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Denver Community Development and Planning is embarking on a pilot
study of its Living Streets Initiative in the Cherry Creek
valley between University Boulevard and Quebec Street with funding
from US Environmental Protection Agency. Denver is one of six winners
of EPA Smart Growth funds to "explore solutions to make major urban
streets and their adjacent land more sustainable into the future."
After establishment of form-based Main Street zoning the city wanted
to take a "more comprehensive, coordinated approach to corridor
planning" as it implements Blueprint Denver. Eight city agencies will
participate in the study and the Cherry Creek corridor was selected
because it is forecast to generate the greatest transportation demand
and "underutilized land along the corridor presents development
opportunity." The EPA will hire a team of "nationally renowned
consultants" to work with local officials. This summer city officials
will conduct workshops with consultants to integrate the LSI with
Denver's new Strategic Transportation Plan. More at:
http://www.de nvergov.org/Default.aspx?
alias=www.denvergov.org/LivingStreets
Denver City Council Member Marcia Johnson reports about the
controversial Lowry Vista land parcel:
The landfill near Windsor Gardens on Alameda (known as "Lowry
Vista") has been at the center of a great deal of publicity lately.
Central to the discussion has been the seemingly nominal price of $10
that International Risk Group LLC paid for this 80-acre property.
There are several documents and a detailed description of history of
the property available on my website at.
http://www.denvergov.org/CouncilDistrict5/Projects
inDistrict5/LowryVistaLandfill/tabid/427333/Default.asp x
This land was "owned" by federal taxpayers when it was part of the
Lowry Air Force Base, a military installation since 1937. When the
base closure began in 1994, Lowry lands began to be transferred to the
Lowry Redevelopment Authority (LRA). The LRA was created by the Cities
of Denver and Aurora and tasked with managing the redevelopment of the
base. Critical infrastructure such as roads, parks and the Lowry
Elementary school were funded through bonds and Tax Increment
Financing (TIF). The bonds have already been repaid and the TIF funds
are current in their payback schedule.
When asbestos was found around Lowry, the expensive cost of
remediation had to be settled before development could progress. The
Air Force sought to transfer all remaining lands at Lowry, including
the landfill. Transferring the landfill to the LRA was problematic
because any land owned by the LRA, including the landfill, would
eventually revert to the City & County of Denver. But the City Charter
prohibits Denver from accepting any unfunded liabilities. In fact,
each strand in the chain of events of the landfill's history was
intended to protect Denver residents and taxpayers from unforeseen
costs.
As such, the LRA selected International Risk Group (IRG) to complete
environmental clean up at the base and assume any future liability
associated with the site. The landfill property was transferred to IRG
as part of this remediation effort, and allows them to pursue
development of the land.
Council Member Johnson also reports that Larimer Square type
retail is coming to Hangar 2 at Lowry:
Larimer Square Partners, in conjunction with International Risk
Group and Rite Place Management, will be bringing a similar mix of
restaurants and retail that we see in LoDo to the Hangar 2
redevelopment. The new mixed-use scenario was designed to address the
concerns of the Landmark Preservation Commission, the unease expressed
by public from previous designs, as well as the needs of the Wings
Over the Rockies Air & Space Museum.
Larimer Square Partners will develop approximately 20,000 square feet
of attractive, commercial space extending back into the hangar. In
addition, density and traffic have often been cited as problem issues,
minimized by the change from residential to office and self-storage
space in the hangars interior. Rite Place Management will manage the
operation with security, temperature controls, lighting and a 24-hour
attendant.
The Denver Botanic Gardens is about to begin construction
of Phase I of its expansion and is planning Phase II. Phase I will be
a greenhouse on the north side of the site, improved lighting and
handicap access, and a public address system. All of this will cost
$18.6 million. Phase II will be a 390- space 3-level parking structure
with 2 of those levels underground on the site of the current parking
lot, and with a pedestrian bridge from its top level to the Gardens
entry.
Several single-family residential properties in the Congress Park
area were recently down zoned from R- 3 to R-2, consistent with
Blueprint Denver and the local neighborhood plan. The property owners
initiated the down zone and city planners took no position on the move
because of "holes" in the area rezoned. The rezoned area did not
include some homes, the owners of which did not desire the down zone.
The first of such down zones in Congress Park a few months ago was
unanimously approved by City Council, but two later rezones passed by
much lower margins.
Annie's Café appeared destined to be a part of the new hotel
proposed for construction at the SEC of East 8th Avenue/Colorado by
Charlie Biederman, developer of the JW Marriott in Cherry Creek North.
But, Annie's has announced it will take over the Goodfriends
restaurant building on East Colfax at St. Paul Street. Lee Goodfriend
also owns and operates Racine's and planned to close anyway when the
lease ended in 2 years. Demolition of the video store, liquor store
and apartment buildings for the hotel at 8th/Colorado is planned to
begin this summer. The hotel will be 6-stories and 160 rooms with
perhaps a Marriott or Hyatt flag.
Many high-rise condo buildings are under construction, but the first
high rise office building in many years in downtown Denver is about to
start construction. Westfield Development Co. the development arm of
Frederick Ross Co. has announced it will start construction of a
22-sory 496,000 SF office building at 1800 Larimer Street. With
state of the art environmental features, the building will be CS
Platinum rated under LEED certification for "green" buildings. Tenants
will include Xcel Energy, Frederick Ross Co. Apartment Realty Advisors
and Citywide Banks.
Cherry Creek Square, the 1979 vintage shopping center on the
south side of East 3rd Avenue between Milwaukee and St. Paul Streets
has sold again. Brokers report that the buyer is considering
redeveloping the property. Perhaps it is the site of one of the hotels
that has made inquiries to Jeanne Robb. With 35,000 SF of building
area and 51,400 SF of land, the $18 million price is equivalent to
$514/SF of building, but perhaps more important, $350/SF of land.
Cook's Mart moved out of the center a couple of years ago when its
owner retired. The seller, Next Realty bought Cherry Creek Square in
2005 for $14 million.
US Premier Office Equities LLC purchased the Denver Financial
Center office complex in downtown Denver for $84 million, or
$193/SF. The 2-building property is located at 1775 Sherman Street and
totals 436,000 square feet. Massachusetts Mutual Life Insurance Co.
was the seller of the property.
Trammell Crow Co. of Dallas has begun construction on a 419-unit
apartment complex at the former Gates site at Broadway and Mississippi
Avenue. Called Alexan Broadway Station, the development is
being built separately from a new parking garage currently underway by
The Lionstone Group of Houston. Trammell Crow is also building 60
units of affordable apartments and some 12,000 SF of retail space. The
parking garage is to be the first stage of development for a 30-acre
mixed-use project east of Broadway that is to include residential
totaling 1,500 units, retail space totaling 100,000 square feet, and
office space totaling 500,000 square feet.
Denver City Council Member Jeanne Robb reports that the 3rd Annual
Post-News Colorado Colfax Marathon will be on Sunday, May 18th
with the start and finish in City Park. Watch out for traffic
blockages that morning. Merchants in the Bluebird Theatre area are
disappointed that the reroute of the race excludes that section of
East Colfax Avenue. And reconstruction of the University bridge over
Cherry Creek starts mid-May with traffic narrowing to 2 lanes each
direction.
The former Adams Mark hotel in downtown Denver began official
operations as the new Sheraton Denver hotel on Monday. Owned by
Chartres Lodging, the hotel totals 1,225 rooms and includes meeting
space totaling 133,000 square feet.
As you probably know, Bill James is running for election to the
Board of Directors of RTD. The campaign has been a sponsor of this
newsletter for a couple of months and the kick-off event is on:
May 22, 5:30 - 7:30 PM
Buchanan Yonushewski Group
500 East 8th Avenue
RSVP by May 19 to bjames@billjames4rtd.com or 303- 316-6767
Parking at SEC 8th/Pearl or
Grant Humphries Mansion, 770 Pennsylvania Street
Join us for some refreshments and a very short political speech. Of
course, I would be grateful for any contribution to the campaign
either at the event or on the campaign website at
www.billjames4rtd.com
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