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Construction of the newest apartment complex near Denver
Union Station was begun recently by Wood Partners and
East West Partners. To total 281 units when it is
completed in 18 to 24 months, the
Alta City
House is to be the 4th development in
the Denver metro area by Wood Partners in recent years.
Costing $62 million, the 5-story project is to be
financed by USAA Real Estate Co.
A 288-unit apartment complex has been announced for the
corner of 17th and Wewatta by Holland Partner Group. To
be completed in 2014, the
1650
Wewatta property is to offer 260 parking
spaces occupying two underground levels and floors 2
through 4. Apartments are set to occupy floors 5
through 21, and additional features, such as fitness
club, yoga studio, pool and lounge area, are to be
placed on the 14th floor, while an outdoor courtyard
space is set for the 5th floor. To be one-third of an
L-shaped parcel located between Wewatta and the historic
Unions Station from 16th to 17th streets, the A block
site is to later be completed by separate office and
hotel projects.
The
University
of Colorado has announced it will start
construction in January of a 146,000 SF
office,
student services and classroom building
on the Auraria Campus at Speer Boulevard/Larimer Street.
A new apartment building has opened in the Capitol Hill
neighborhood by Forum Real Estate Group. Totaling 57
units at East 6th Avenue and Logan Street,
The Logan
complex offers studio to 2-bedroom apartments with a
maximum rent rate of $1,990/month. While only offering
49 parking spaces, at least one level of underground
parking is included in the 5-story property, which also
offers amenities such as keyless entry, resident lounge,
outdoor courtyard with grills and fire pit, dog wash,
elevator access, bike maintenance and kitchen room,
energy star appliances, low-e windows, and recycling
chutes on all floors.
The 415-unit
Metro
Apartments complex at 2121 Delgany
Street in Denver was the recent focus of an exchange
between buyer Multi-Employer Property Trust and seller
CBRE Global Investors. Sold via Pamela Koster and David
Martin with Moran and Co., the property was exchanged
for $90.75 million, or $218,675/unit.
An unknown price was paid by RedPeak Properties for the
Burnsley Hotel at 1000 Grant Street in
Denver. Purchased from Joy Burns, the RedPeak plans to
invest more than $5 million to convert the 17-story
80-room hotel into a luxury apartment complex. The
conversion is to begin early next year. The building
was originally built as apartments.
A retail building in Denver was recently exchanged for
$2.25 million, or $107/SF. Located next to the Colorado
History Center and the Denver Art Museum at
1147
Broadway, an undisclosed buyer purchased
the property from Windish Commercial Investments LLC.
Agency for Windish was provided via Tim Finholm and Sam
Leger of Unique Properties LLC-TCN Worldwide.
The former Wells Fargo Theatre at the Colorado
Convention Center is now renamed
Bellco
Theatre due to a change in sponsorship.
A price of $44/SF, or $3.38 million, was paid by
WalBlake LLC for the 1.77-acre property at 3601-3655 and
3707 Walnut in the River North area of Denver. Sold on
behalf of Gregory Land Co. via Sam Leger and Tim Finholm
of Unique properties LLC-TCN Worldwide, the property is
across from the planned 38th Street and Blake Street
light-rail station. The new owner intends to hold the
property, which currently houses two industrial
buildings, for future development.
The City and County of Denver is currently completing
the approval process for a new apartment complex in the
Ballpark district near Lower Downtown Denver by Legacy
Partners. Known as
Legacy
22nd, the 6-story, 212-unit property is
anticipated to break ground by early 2013 along the half
block of Lawrence between 21st and 22nd streets.
A plan to restore a 19th-century horse barn at the
intersection of
33rd and
Arapahoe streets in the Five Points
neighborhood is anticipated to be a catalyst for
development. Having served the Denver City Railway Co.
in its heyday, the renovation will allow it to aid
nearby urban farms by linking them to the 30
international-development nonprofits
based there, thereby becoming a community center for the
burgeoning food-security movement. The
Denver
Urban Gardens is also to contribute to
the development by providing a large commercial kitchen
for healthy-cooking demonstrations and nutrition
classes; a seasonal farmers market; and a demonstration
garden on the empty lot across the street that will
provide horticultural training. Owned by the Denver
Housing Authority since 1992, the site is also
anticipated to benefit from the planned opening of the
23-mile East Corridor commuter line, which is expected
to open in 2013 and will have the first stop out of
Union Station placed five blocks away from it.
Cherry Creek North
has become a focal point for new development. Proposed
for eight projects in the next two years and another
seven in the planning stages for construction over the
next five years, the new proposals are raising concern
among some residents in the area that the additions will
make the neighborhood too dense. Among those proposed,
the Cherry Creek North Neighborhood Association is
currently opposed to the 245 Columbine development by
the Sullivan Group and another for the northeast corner
of First Avenue and Steele Street by Zocalo Community
Development. Other major projects planned for the area
include a 12-story luxury apartment complex on the SEC
of First Avenue and Steele Street by BMC Investments and
a 8-story office and retail building at 100 St. Paul
Street by The Pauls Corp.
MGL Partners has announced a new apartment complex for
the Capitol Hill neighborhood. To total 156 units at
the
SWC of
East 11th Avenue and Gaylord Street,
construction of the currently unnamed project is to take
20 months, with demolition on the site to begin in
January. To provide 234 spaces in a 2-level,
below-grade parking garage, the 7-story property is to
offer market-rate rents.
A recent donation allowed the Denver Film Society to
secure its future at Denver Film Center/Colfax, which is
located at East Colfax Avenue and Columbine Street.
Made by John and Anna Maglione Sie, the organization
used the $2.5 million gift to purchase the location,
which it intends to rename the
Anna Sie
and John J. Sie Film Center.
The Prospect Park neighborhood near downtown Denver is
to gain a new apartment complex courtesy of Edwards
Companies. To be known as
The
Residences at Prospect Park, the 5-story
complex north of West 29th Street is to offer 296
units. Anticipated for completion in 2014, the
development is also to benefit from the renovation of a
building to the south that will offer 20,000 SF of
retail.
Carmel Partners recently sold its 420-unit
Aero Flats
apartment complex in Stapleton. Located at 8008 East
Montview Boulevard in Denver, Carmel sold the property
to Advenir for $49.1 million, or $116,905/unit, via Doug
Andrews and Jeff Hawks of ARA. The new owner has
renamed the property Advenir@Stapleton.
Grocery giant
Kroger
has now entered the discussions as a possible anchor for
the redevelopment of the
former
University of Colorado Medical Center site
at East 9th Avenue and Colorado Boulevard. Though a
deal has yet to be reached, the 75,000 to 80,000 SF
proposed size for the store is favored to the 119,000 SF
store that was proposed by Walmart for the site, and is
considered a better fit for the area. Marcus Pachner
with Fuqua Development has said that the new plan for
the development consists of a walkable outdoor shopping
area that would become a central meeting place for the
surrounding neighborhoods with senior housing, 325
residential units, a hotel and local neighborhood
services. Businesses expressing interest in the
redevelopment as possible tenants include Natural
Grocers by Vitamin Cottage, Mcalisters Deli, HomeGoods,
Larkburger Gourmet Burgers, the owners of Tavern Uptown,
Krisers organic pet food, and neighborhood coffee stores
and restaurants. Denver City Council Member Mary Beth
Susman comments on this development, Trader Joe's
proposed nearby at 8th/Colorado Boulevard (including a
site plan and renderings) and the Buckley Annex at Lowry
redevelopment at:
http://www.denvergov.org/Portals/76/documents/2012December.pdf
The
Kent Place
development at South University Boulevard and East
Hampden Avenue celebrated the opening of its first
stores. Located at South University Boulevard and East
Hampden Avenue, the new development welcomed San
Francisco pizza restaurant chain Patxis; pet supply and
grooming store Krisers; Wine Pro; and the first Fresh
Fare by King Soopers upscale grocery store in the
State. To be a redevelopment of the former Denver
Seminary site, the development is later to be completed
with a 300-unit apartment complex that will border the
grocery store on the north and west.
ReyLenn Properties is to build an
upscale
apartment complex adjacent to prominent
condo complex Kentucky Ridge in
Glendale.
To total nearly 400 units when it is completed in two
years, the project is to offer units ranging from studio
to 3-bedroom with unit sizes ranging from 572 to 1,335
SF. Major amenities slated for the project include a
resort-style pool, clubhouse with indoor/outdoor
kitchen, cyber lounge, and a professional fitness
center. The 5-acre site was purchased from DPC
Development for an undisclosed amount.
The 2.7-acre
site of
the former Spanish Gate apartment
complex in Glendale is to be given new life as a parking
lot by DPC Development. To be exchanged to Glendale in
lieu of a 5-acre surface parking lot the company sold to
ReyLenn Properties LLC, the redevelopment will serve to
satisfy demand for events at Infinity Park and the
currently-under-construction Riverwalk development;
however, DPC will be allowed use of the lot by day. A
15-year option was also granted to DPC for the
construction of an additional level on the lot to fit
roughly 350 spaces.
Agents Dave Potarf, Dan Woodward, and Jordan Robbins of
CB Richard Ellis aided the transaction of the 272-unit
Denver-Park at Canyon Ridge apartment
community in Aurora. Exchanged between seller Asset
Plus Cos. of Houston and buyer Jackson Square Properties
for $23.82 million, or $87,574/unit, the property is
located 9757 East Colorado Avenue.
The redevelopment of the historic
Union
Station in downtown into a mixed-use,
transit-oriented hub officially began December 3rd
following approval of a lease to the developer by RTD.
Planned to open in mid-2014, the redevelopment is to be
done by the team of Sage Hospitality, Larimer
Associates, REGen LLC and Urban Neighborhoods. The
redevelopment calls for the placing of retail and
restaurant outlets into 22,000 SF on the ground floor
that will be complemented by a 12,000 SF public common
area called the Great Hall, 40,000 SF of outdoor plaza
space, and to be capped by a 110-room independent hotel
that will be managed by Sage Hospitality. In addition,
the station will be prepared for the return of Amtrak
operations in early 2014. The newly renovated building
will reopen to the public in the summer of 2014. Union
Station Alliance is the real estate development group
overseeing the renovation and Milender White
Construction Co. is the design builder. For additional
information about the Union Station Alliance team,
please visit
www.unionstationalliance.com
On January 1, RTD's new
Smart Card
debuts for EcoPass and CollegePass customers. These
individuals will be the first to tap on to bus and light
rail using the new smart card media, with much more to
come. This exciting card brings benefits including
unlimited rides on regular bus and light rail all day,
every day with just one tap every time you ride. Smart
card eliminates adhesive decals and brings improved
customer service with a dedicated customer service
center. Later in 2013 RTD will convert all of fares and
passes to smart card technology with the introduction of
the
MyRide
card for the general public. MyRide will transform your
riding experience by providing a convenient and easy
method of paying your fare.
RTD
is proud to announce that the
Board of
Directors recently received the
Carla
Madison Award for outstanding leadership
in the public sector. The award, named after the late
Denver City Councilwoman, honors her great work and
support of developing livable communities with safe and
effective transportation.
The
RTD Social
Media team was recognized at the 2012
edition of
Westword's
Denver Web Awards, the annual
celebration of Denver's greatest digital minds. At the
end of September, Westword put out a call for their
readers, to nominate favorite online projects and
voices. Categories include news, arts, food and music.
RTD won for the category titled The Best Public Service
on Social Media. The Social Media team was recognized
for the information provided to the community, responses
to complaints and even compliments too.
This past year has been an exciting one for the
RTD's
I-225 light rail project and 2013
promises to be even more eventful as design and
construction pick up speed. The I-225 Rail Line will be
a 10.5 mile light rail line with 8 stations serving the
City of Aurora, Anschutz/Fitzsimons Medical Campus and
Denver International Airport with a transfer to the East
Rail Line. Crews will begin construction on the full
line in spring 2013 and by mid-2016 the line will open.
RTD completed the Environmental Evaluation on the I-225
project in 2009. In response to RTD's "Call for
Innovation" to the industry, RTD received an unsolicited
proposal in March 2012 from Kiewit Infrastructure Co.
After review under the RTD Unsolicited Proposal Policy,
staff found that there was merit to move into a
competitive bidding process, so RTD issued a Request for
Proposals (RFP). Two teams, including Kiewit, bid on the
project with Kiewit winning the award. RTD finalized a
contract with Kiewit, that includes design partner AECOM,
and the team received a notice to proceed in late
August. Kiewit led the design-build construction team
on the T-REX project - a joint highway/light rail
project of RTD and the Colorado Department of
Transportation (CDOT) along I-25 now called the
Southeast Light Rail Line. Kiewit is also currently
constructing the transit improvements at Denver Union
Station.
The first 1.5 mile segment of the I-225 Rail Line from
Nine Mile to Iliff is already underway. In the spring of
2012, RTD and the Colorado Department of Transportation
(CDOT) partnered on a joint construction project to
build the I-225 Rail Line trackway from the Nine Mile
Station to Iliff Avenue and widen the I-225 Highway from
Parker Road to Mississippi Avenue. As part of the light
rail and highway project SEMA Construction, Inc. had to
reconstruct the Yale Bridge over I-225 to provide room
for the rail line and additional highway lanes. The new
bridge was reopened to the public in October two months
ahead of schedule. Kiewit will pick up construction of
the Iliff Station and the rail line where SEMA finishes.
The CDOT widening project is expected to be completed in
2014 and the rest of the I-225 light rail project will
be completed in 2016.
Since E-470 converted to cashless electronic toll paying
the toll plazas have been vacant. Now the E-470 Highway
Authority is considering converting the toll plazas into
highway oriented retail sites for occupancy by gas
stations, restaurant and convenience stores. The
authority will issue a request for proposals in the
first quarter of 2013.
The RTD Board of Directors approved moving forward with
a
FasTracks Internal Savings Account to
help fund FasTracks projects that are not fully funded.
The savings account is comprised of eight items that are
expected to generate nearly $300 million by 2017. The
funds would be used to build the North Metro Line to at
least 72nd and complete RTD's commitment on the US 36
Bus Rapid Transit project, a partnership with the
Colorado Department of Transportation.
The final phase before the
West Rail
Line of FasTracks opens along West 6th
Avenue will be underway soon. Integrated testing to
ensure all RTD systems are properly working together
will start in early January. As part of the testing,
there will be moving trains so people are asked to
exercise caution when driving, biking or walking along
the corridor. Over the weekend of Dec. 8-9, RTD and its
contractors performed a successful light rail safety
test to ensure that the West Rail Line system is
interfacing with the rest of the system.
Denver City Council Member Peggy Lehman reports that
with the passing of ballot measure 2A by Denver
residents,
Denver
Public Library plans to increase their
2013 hours by 40% upon final approval of the 2013
budget. With the additional funds, all branch libraries
will be open a minimum of 48 hours per week, with two
evening hours and new weekend hours at several
locations. The Central Library will be open 56 hours
per week with Saturday morning hours restored. The
public can expect to see the new hours phased-in
beginning January 2013, as required staffing levels are
achieved.
University Hills Senior Residences
broke ground in November at 2775 South Brook Drive and
will offer 101 apartments in the 4 story structure.
Construction is scheduled for completion in December
2013. Residents will enjoy a Cyber-Café, library and
media room, game room and a cyber fitness room which
features multi-media fitness options.
The
Denver
Real Estate Office and Denver Public Schools (DPS)
are currently negotiating a proposed
land swap
that includes 11.5 acres of land located near East
Girard and South Havana Street. 2.5 acres are in the
City's real estate portfolio and the difference of 9
acres is located in the Hentzell Park Designated Natural
Area which is part of Denver Parks and Recreation (DPR).
The 11.5 acres will be traded for a 40,000 sq. ft.
office at 1330 Fox Street This is intended to be the
future site of the City's Domestic Violence Center which
has been a high priority for Mayor Hancock. In turn,
Denver Public Schools will turn the 11.5 acre parcel
into a new Southeast school, funded through the school
bond which was passed in the November election.
The Denver Regional Council of Governments (DRCOG)
announced the launch of a new public awareness campaign
to reduce Single Occupant Vehicle (SOV) travel and
unveils a new brand name to represent these efforts,
officially retiring the familiar RideArrangers brand.
The new brand,
Way to Go,
helps reduce traffic congestion, improves air quality,
and saves people money. Way to Go also describes a
better means of commuting: for some, carpooling or
taking transit is the "way to go," for others, biking to
work is the "way to go."
In 2011, DRCOG Executive Director Jennifer Schaufele led
an effort, later adopted by the Board of Directors, to
create an alliance with six Transportation Management
Associations (TMAs) to cooperatively promote responsible
commute options region-wide. A new brand name was needed
to represent these efforts - Way to Go seemed like the
perfect fit. DRCOG has spearheaded local efforts to help
commuters find carpool partners since the 1970s gas
crisis, using the name RideArrangers since 1987.
"In the beginning, we identified matches by putting pins
on a giant map," noted Schaufele. "Of course we now use
online software, and our ridematching service has
expanded well beyond just carpool matching for work
commutes to include school carpools for busy parents as
well as vanpools for larger groups."
Along with the new brand, the partnership reveals its
upcoming campaign to raise awareness of the issue - too
many people driving alone - and get people thinking
about how they commute. The campaign is titled "Stop
Being an SOV," a suggestive play on words that should
grab people's attention. "With the goal of reducing SOV
travel, the campaign is a fun way to introduce the new
brand and highlight our number one goal," said Schaufele.
Over the years, DRCOG's efforts have evolved to include
promotion of a host of services, all focused on reducing
SOV travel.
DRCOG is well known for organizing Bike to Work Day, the
second-largest event of its kind in the nation, and also
promotes transit ridership, telework and flex work
schedules. "The creation of the partnership presented
the perfect opportunity to find a new name that better
represents the breadth of our services and to talk about
them in a fun and engaging way that spurs people to try
them," she added. The six partner organizations working
alongside DRCOG under this umbrella brand are 36
Commuting Solutions, Boulder Transportation Connections,
Denver South TMA, Downtown Denver Partnership, Stapleton
TMA, and Transportation Solutions.
The
Transit
Alliance is now accepting applications
for the Spring 2013
Citizens'
Academy. Applications are due by
February 15th. More at:
http://www.transitalliance.org/academy/2011/application.html
Monte Whaley in the Denver Post reports that
congestion on the
Interstate
70 mountain corridor could be untangled
with an elevated electrically powered megarail system.
Or problems could be solved by magnetic levitation
(maglev) vehicles. But Paul Williamson is convinced his
SkyTran fleet of two-passenger, automated electric
vehicles is the answer.
SkyTran would travel on a network of slim, elevated
guideways that can make the 150-mile trip from DIA to
the Eagle County Airport with relative ease. "It will
run 24/7, and two people can get in, on what is
basically a first-class seat, say they want to get from
the airport to Vail," Williamson said Thursday, "and off
they go." "And I can do this for one-tenth the cost of
traditional light rail," he said.
Williamson and seven other vendors with big ideas for
high-speed transit options for the I-70 mountain
corridor displayed their concepts Thursday at the
Jefferson County Fairgrounds. They were part of a
technology forum put on by the Colorado Department of
Transportation, which is studying the possibility of
high-speed transit from C-470 in Jefferson County to the
Eagle County Airport. "Anyone who lives in the corridor
or has sat in their car for hours after a long day of
skiing or hiking can tell you that traffic through the
mountains is a huge problem," said CDOT transit and rail
director Mark Imhoff.
Talk of using an Advanced Guideway System through
Colorado's mountains has drawn a lot of attention
nationally and internationally, CDOT said. In all, 18
companies from around the world submitted proposals in
September. Eight of the 11 companies that met six
preliminary criteria - travel time, ability to manage
the grade from Denver to the mountains, safety,
capability of handling weather and wind, light freight
ability and being operational by 2017.
One alignment and the most viable of the technologies
will be used to develop a cost estimate. Past estimates
have put the cost of a high-speed system from DIA to
Eagle County at almost $15 billion. CDOT hopes to get
private-sector help to fund the system and make a final
decision by next fall. The companies on hand and the
technologies they offered were:
-
American Maglev Transit. AMT's transit technology is
based on optimized magnetic levitation and
linear-induction propulsion that is entirely electric
and nonpolluting.
-
Flight Rail. This is a high-speed, lightweight
atmospheric transportation system that uses vacuum/air
pressure to move passenger vehicles along an elevated
guideway.
-
General Atomics/Colorado Maglev Group. The system
would be placed entirely within the existing I-70
right of way on an elevated structure supported by
high columns.
-
MegaRail. A multipurpose elevated electrified system .
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Public Personal Rapid Transit Consortium. Pod-cars on
a fixed guideway using an air-lifting mechanism
integrated with magnetic-induction propulsion.
-
SkyTran. Two-passenger automated electric vehicles.
-
Swift Tram. Fully automated fixed-guideway
transportation system featuring coaches in two sizes
suspended from the guideway with a hinge.
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Talgo. This system uses propulsion energy that comes
from the commercial electric grid and that is applied
to the rail using frame-hung traction motors and
conventional adhesion.
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