|
For those interested in Real
Estate and Transportation, James Real
Estate Services has developed a Group in
LinkedIn
with that name. The group provides a platform for
valuable on-line discussions of real estate and
transportation. Please join us! If you already have a
LinkedIn account just click on:
http://www.linkedin.com/groups/Real-Estate-Transportation-4760558/about
to join the Real Estate and Transportation group. If
you don't yet have a free LinkedIn account open one by
simply entering your name and email address at:
http://www.linkedin.com/
After opening your LinkedIn account join the group by
coming back to this email and click on the Group link
above or search for the Group on LinkedIn.
The
Denver
Cherry Creek Rotary Club's 17th annual Golf Tournament
will be returning to Bear Dance Golf Club in Larkspur on
Thursday, July 25, 2013 at 1:30 PM.
http://www.egolftourney.com/egolf/client/
www.cherrycreekrotary.org
If you're a golfer, it's great fun on a great course,
and a great cause.
The
Alameda
Station Village TOD apartment project is
moving forward. The 200 plus unit apartment project and
the RTD station reconfiguration are tied to the City of
Denver's Dakota Outfall Project that will extend along
Dakota Avenue through Broadway Marketplace and install a
60" storm water pipe from Broadway to I-25. The owner
of Broadway Marketplace, D4 and their Metropolitan
District have spent the last several months revising
plans, negotiating cost sharing with Denver, and
addressing a number of environmental issues. Those
issues have been largely resolved and their contractor
PCL is beginning construction on the Outfall pipe in
August. By September D4 hopes to secure financing for
the apartments.
RTD recently released a Request for Proposals (RFP) to
design and build the
North
Metro Rail Line. This comes after RTD
determined that an unsolicited proposal received in
February by Graham Contracting Limited has technical
merit, thus providing RTD the opportunity to accelerate
its bidding process for potentially building the line.
"Releasing the RFP brings the region one step closer to
building the North Metro Rail Line and moves us even
further toward completing FasTracks," said RTD General
Manager Phil Washington. RTD is seeking bids for the
design-build project from Denver Union Station to at
least 72nd Avenue with options to build further. RTD is
also open to proposers' innovative solutions to
completing other unfinished FasTracks projects. The
deadline for proposals is September 23 and construction
is planned to begin in 2014. The North Metro Rail Line
is an 18.5-mile electrified commuter rail line that will
connect Denver and Adams County by serving Commerce
City, Northglenn and Thornton.
Vince Carroll wrote an interesting article in the Denver
Post about CDOT's potential plan to move the
I-70 Highway in north Denver from a
viaduct to underground:
http://www.denverpost.com/opinion/ci_23555361/future-i-70?IADID=Search-www.denverpost.com-www.denverpost.com
Progress continues elsewhere on the FasTracks project as
well. On June 25, the RTD Board of Directors approved a
request from the University of Colorado
Anschutz
Medical Campus to relocate the planned
Montview Station on the I-225 line to a
new location on Fitzsimons Parkway. The request was made
due to concerns of vibration and electromagnetic
interference (EMI) and vibration affecting sensitive
research equipment at the current and future medical
buildings near the site. Alternative methods of
mitigation were considered but found to be too costly.
Scheduled to open in 2016, the I-225 Rail Line is a
10.5-mile light rail extension that will travel through
the city of Aurora and make connections to the Anschutz
Medical Campus and the future VA Hospital.
An Information Meeting for the
I-225 Line
13th Avenue Station is scheduled for
Thursday, July 25, 2013 At 5:45 PM at the Aurora
Municipal Center 15505 East Alameda Pkwy in Aurora. RTD
also recently announced the opening date for the Denver
Union Station Bus Complex as Friday, May 9, 2014. The
22-bay underground bus station will replace RTD's
current Market Street Station, which will close
permanently when the Union Station Bus Complex opens.
The Denver Post and the Denver Business Journal report
that the City of Denver is considering conversion of
several
one-way
streets in the central business district
to two-way.
http://www.denverpost.com/news/ci_23611955/change-denver-commuter-habits-sparks-talk-one-way?IADID=Search-www.denverpost.com-www.denverpost.com
http://www.bizjournals.com/denver/news/2013/07/03/denver-looks-into-converting-1-way.html?ana=e_du_pap&s=article_du&ed=2013-07-03&u=r3OD0ODwIozvubhF17rbvdssAmZ&t=1374440160
Could make the streets more pedestrian friendly.
Transportation Solutions thanks all of the commuters
that came out for
Bike to
Work Day June 26. DRCOG reports that a
record 22,157 participants registered - up from 17,800
in 2012. Transportation Solutions has been conducting a
variety of employer outreach activities as a part of the
regional
Way to Go
program. Way to Go is a partnership between local
transportation management associations (TMA's) and the
Denver Regional Council of Governments to reduce the
number single occupant vehicles ("SOVs") on the road,
and provide options such as van/carpool, transit,
biking, walking and telework.
http://www3.drcog.org/waytogo
http://www.transolutions.org/
The Regional Transportation District Board of Directors
approved plans for a new
Downtown
Denver Circulator free bus service,
designed to connect the RTD transit hub at Denver Union
Station and Civic Center along Lincoln, 18th and 19th
streets and Broadway. The circulator may ultimately be
extended to the Denver Art Museum.
RTD recently partnered with Transportation Solutions to
initiate a feasibility study of transit service along
the
Denver
Union Station/Cherry Creek/Glendale corridor.
The study will "determine market potential for transit
services in the corridor connecting Denver Union
Station, the Cherry Creek area and City of Glendale and
what transit services and enhancements would be feasible
to meet this need in combination with commuter needs."
The study is being conducted during the summer and fall
of 2013 by Transportation Management & Design (TMD),
which serves as RTD's ongoing General Planning and
Operations Consultant. TMD of Carlsbad, California (www.tmdinc.net)
also conducted the Downtown Circulator Study.
Transportation Solutions is coordinating stakeholder
involvement in the study, including Visit Denver, Denver
Union Station, downtown businesses and residents, the
Golden Triangle, Cherry Creek and Glendale.
Denver City Council Member Jeanne Robb reports that
Community Planning and Development has started the
process to create
new zoning
for the Cherry Creek North retail area.
The Cherry Creek Steering Committee (CCSC) has developed
agreement on the process, communications and general
approach to the new zoning before city planning staff
drafts the zoning with input from a Technical Advisory
Committee with CCSC and public review. The final phase
will include notice to property owners, and adoption by
Planning Board and City Council. The Cherry Creek
Steering Committee and the Technical Advisory Committee
will meet again August 13, 5:30 to 8:30 PM, 299
Milwaukee St. basement conference room to begin drafting
the zoning.
Denver Parks and Recreation is moving one step closer
toward having a
recreation
center in Central Denver. The City is
acquiring the final plot of land needed for the center
located at
Colfax and
Josephine.
Dennis Huspeni in the Denver Business Journal reports
that the site of the
former
Holly Square Shopping Center is finally
being redeveloped as a result of work by the Urban Land
Conservancy and others.
http://www.bizjournals.com/denver/print-edition/2013/06/14/holly-square-getting-a-new-life.html
Hines began construction on
1601
Wewatta Street, a ten-story, 280,000
square foot office building adjacent to Denver Union
Station. The building is the first large speculative
office building to be started in downtown Denver in
recent years.
Edwards Communities plans to develop the
Residences
at Prospect Park, a 296-unit apartment
building in the Prospect neighborhood near Coors Field.
The five-story building will occupy a 2.6 acre site at
2970 Huron Street. Completion is scheduled for the third
quarter of 2014. Edwards is based in Columbus, Ohio.
A partnership of McWhinney and Grand American, Inc. will
redevelop property in downtown Denver known as the
Windsor Dairy Block. The property is
bounded by Blake, Wazee, 18th and 19th streets and is
two blocks from Denver Union Station. Specific plans
were not announced but the development will contain
about 325,000 square feet of office, retail and
residential space. Grand American has owned the block
for over thirty years and has been renovating some of
the historic buildings.
The redevelopers of the
historic
Denver Union Station building announced
three of the restaurants that will occupy some of the
retail space in the restored depot.
Snooze,
Kitchen Next Door and a new concept
restaurant by the chef of
Fruition
will take a combined 13,700 square feet when the
restored historic station opens as Denver's urban
transportation hub in 2014. The station will also house
a hotel in addition to RTD and Amtrak passenger
facilities.
East-West Partners unveiled the architectural renderings
for
The
Triangle, a 10-story office building
planned for a currently vacant parcel at 1550 Wewatta
Street in Lower Downtown, adjacent to Denver Union
Station. Construction on the $85 million building will
begin in October. Plans call for the wedge-shaped
building to contain about 200,000 square feet of space,
including 10,000 square feet of retail uses on the
ground floor.
Treehouse Development will built
Lumina,
a 61-unit apartment building in north Denver. The
project will occupy the site at the southeast corner of
West 33rd Avenue and Navajo Street where the renowned
but now closed Pagliacci's Italian Restaurant operated
for 66 years. Construction is scheduled to begin this
summer.
Anthem Blue Cross and Blue Shield of Colorado
will increase its local workforce by about 300
positions, following an increase of 250 jobs earlier
this year. The new positions will bring to about 1,300
the number of employees working at the insurer's
headquarters at 700 Broadway by the end of 2013. Anthem
credited the need for more employees to the effects of
the new healthcare legislation that will add about 16
million people nationally to insurance rolls.
Denver Health
will reduce its employment by about 300 people, or 5% of
its total workforce. The hospital needs to reduce costs
due to federal health care funding reductions and a lack
of increased support from the City and County of Denver.
The hospital is the primary treatment center for
Denver's poorest residents, many of whom have no medical
insurance. Denver Health plans to make the cuts through
layoffs, attrition and a reduction in new hires.
Seattle-based Unico Properties bought
1660
Lincoln Street, a 31-story office
building in downtown Denver. The company paid $38
million for the 283,544 square foot building, which has
16 floors of office space atop a parking garage. Unico
bought the building from the lender, Aeron USA Realty
Advisors, and plans an extensive renovation. The buyer
was represented by Geoff Baukol and Tim Swan of CBRE.
A 72-year old apartment building in midtown was acquired
by a partnership led by Eric Schierburg. The
Thomas
Jefferson at 1626 Logan Street contains
52 units and was purchased for $4,450,000, or about
$85,600 per unit. Marcus&Millichap brokers Brian Haggar
and Greg Price were brokers for the seller.
The initial concept plan for the redevelopment of the
former St. Anthony's Central hospital site
in west Denver is being discussed by neighbors, planners
and the potential developer. The hospital moved to a new
campus, leaving vacant its former location on West 17th
Avenue at Perry Street across from Sloan's Lake Park.
EnviroFinance Group was selected as the master developer
for the property. The concept plan for the 15 acre site
calls for a mixture of land uses, including commercial
and residential.
The
Mile High
United Way will build a 63,000 square
foot headquarters in
Curtis
Park, relocating from its current
offices in Lower Highlands. The organization acquired a
site at Park Avenue West and Curtis Street and broke
ground on the $22 million building that will open in
late 2014. The United Way chapter recently sold its 18th
Street property to a developer that is planning an
apartment building on the site.
The
Garbarini
women's clothing store relocated in Cherry Creek North.
The retailer bought 239 Detroit Street for $5 million,
or about $400 per square foot. Garbarini expanded into
the 12,500 square foot building from smaller quarters on
East 3rd Avenue. Roche Fore of Buell & Company
represented the buyer.
Gifts totaling $41 million will help the
University
of Denver construct a new building to
house the school's
engineering and computer science departments and a
center for the study of aging. The gifts
come from Daniel Ritchie, Betty Knoebel and the estate
of the later William C. Petersen. Construction on the
110,000 square foot building will begin this fall at a
site on the southern edge of the campus near South
University Boulevard and East Iliff Avenue.
Denver City Council Members Robb and Mary Beth Susman
report that redevelopment chances for the
former
University of Colorado hospital property
on Colorado Boulevard in east Denver became more
confused after the latest developer back out of the
project. Lionstone Group of Houston had replaced Fuqua
Development as the exclusive developer for the 28.5 acre
parcel between East 8th and East 11th Avenues. Lionstone
has now backed out of that agreement, seeking instead to
develop only a 6.7 acre site on which it would build 325
apartment units. CU will now seek other developers who
may be interested in the balance of the site. Some
demolition west of the residential section will occur so
that Bellaire Street can connect through the site. While
discussions continue, CU is also looking at options with
other developers. The Denver Planning Board approved
the Denver Urban Renewal Authority's (DURA's) Urban
Renewal Plan for the area. The plan will allow DURA to
collect property tax on the residential section to help
redevelop of the rest of the property. There will be a
public hearing on the renewal plan before City Council
on Monday, July 22nd at 5:30. CU reports multiple
expressions of interest by other developers in the
remaining section of the property and is sorting through
those now.
For the past two years, the Cranmer Park/Hilltop Civic
Association has been working with representatives of the
City's Parks and Recreation Department to discuss the
much needed restoration of the
Sundial
and the plaza area in Cranmer Park. The
city has set aside $550,000 for this project, which is
estimated to cost $1,400,000. Plans are to correct
structural deficiencies that have made earlier
restoration work fail prematurely. Council Member
Susman and the Denver Foundation have launched, a new
fundraising effort - the Save Our Sundial campaign
Salsa Properties acquired the note on two office
buildings in south Denver. The connected buildings at
4201 East Yale Avenue and 2896 South Colorado Boulevard
contain about 90,000 square feet. Salsa acquired the
note for $4.95 million and foreclosed on the properties.
The new owner plans to renovate the buildings, which are
currently about 80% occupied.
Residential Ventures LLC bought the
Plaza 6000
office park in east Denver. The 106,065
square foot park is located at 6000 East Evans Avenue.
The buyer paid $2,350,000, or about $22.16 per square
foot, for the three-building property. John Fairbairn of
Fairbairn Commercial represented the seller, Investors
Syndicate Development. The buyer was represented by
Unique Properties LLC-TCN Worldwide brokers Marc Lippitt,
John Sheflin and Scott Schwayder.
An unidentified local investor bought the
Legends at
Lowry, a 150-unit apartment community in
east Denver. The property was acquired from RC-Lowry
Apartments LLC for $27,750,000, or about $185,000 per
unit. The Legends at Lowry was originally developed as a
condominium community but subsequently bought out of
foreclosure by Denver developer Peter Kudla. ARA brokers
Doug Andrews, Jeff Hawks, Terrance Hunt and Shane Ozment
represented the seller.
|
