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James Real Estate Services, Inc.
 
July-August 2015

 
"RIDE the Ride, WALK Your Talk, SEE the Art" is a one-day event organized by Rocky Mountain Chapter of the Sierra Club to be held on Saturday, September 12th 9:00 AM-3:00 PM at Union Station.  The event will encourage people to use RTD and to visit Public Art sites around Metro Denver. Participants are RTD, Denver Arts and Venues, Hyatt Regency, The Art a Hotel, and Museum of Outdoor Art. RTD will be at Union Station Plaza to inform people on all the ins and outs of using the shuttle, light rail and buses, including how to put your bike on the bike rack. Folks will also take in the art of metro Denver, free for the viewing. There will be drawings for free RTD tickets every half hour.
 
 
The Cherry Creek Business Alliance (CCABA) in conjunction with the Greenway Foundation  and local citizen Ted Kenny are undertaking a long term plan for Cherry Creek between University and Colorado Blvd.Not the shopping district per se but the creek itself. Ted says, "Over the years it has been somewhat overlooked and neglected. The possibilities for its use as a treasured amenity going far beyond flood control are endless. They encompass just quiet enjoyment to access to the creek bed for both young and old. The vistas and four waterfalls are hidden from sight except from the most inquisitive or adventuresome. By thinning out brush and trees in selected areas we will be introduced to nature at its best right in the middle of the city. Further usage as venues for entertainment or picnics with the distinct possibility of a separate walking/running path will be just some of many ideas to be incorporated in the future landscape.  Money is being raised to set out the plan and provide for public input. Jeff Shoemaker who has been so instrumental in bringing his expertise to the cleanup of the South Platte through the Greenway Foundation will be at the drawing board.  Ted says, we eagerly await the plan's completion and execution." 
 
The CCABA has organized a CHERRY CREEK GREENWAY CLEAN-UP DAY on Saturday September 26th from 8 am-12 noon.  "We need your help to clean-up and restore the Cherry Creek Greenway.  Volunteer groups will assist with a number of projects including planting trees, cleaning out overgrown shrubs, picking up trash, and painting the fountain.  It is free to attend, but registration is required. Breakfast and lunch will be provided.  Please bring work gloves, shovels, & rakes if you have them (labeled).  Let's join together to reactivate our beloved creek."  More at:
 
 
The RTD Board of Directors awarded a $140 million two-phase contract to Balfour Beatty Infrastructure Inc. (BBII) to design and build theSoutheast Rail Extension.  Design work will begin this fall with construction expected to start in spring 2016. The construction phase is dependent on a Full Funding Grant Agreement from the Federal Transit Administration. BBII commits to completing construction of the line by early 2019.  Built in 2006, the Southeast Rail Line currently serves E and F trains, from the Broadway station at I-25 and Broadway and runs parallel to Interstate 25 ending at Lincoln Avenue in Lone Tree.  The construction project will extend the light rail line 2.3 miles farther south to RidgeGate Parkway in Douglas County with parking for 1,300 vehicles. It also will include stops at Sky Ridge Medical Center and the future Lone Tree City Center.
 
As RTD continues to expand service, the first station to open for the future A line to the airport is Central Park Station. This new Park-n-Ride will open for bus service on Sunday, September 13, 2015 and will replace the existing Stapleton Park-n-Ride, which will permanently close.  You're invited to celebrate the opening of the new Central Park Station on Saturday, September 26, 2015. RTD and Denver Transit Partners will host an open house from 11 a.m. to 1 p.m. at 8200 Smith Road in Denver.
 
 
Spanning 9,533 feet, the Skyway Bridge along the N line will be the longest bridge in the state. The bridge is part of the 18.5-mile commuter rail line that will open in 2018 and will run from Union Station to 124th Avenue, connecting Denver, Commerce City, Thornton, Northglenn, and eventually Adams County.  The Skyway Bridge will exceed San Francisco's Golden Gate Bridge which is nearly 8,980-feet, the Brooklyn Bridge at 5,989-feet, and America's highest suspension bridge, the Colorado Royal Gorge Bridge at 1,260-feet.
 
 
The Regional Transportation District (RTD) Board of Directors recently approved a five-year, $5 million naming rights agreement allowing theUniversity of Colorado System (CU) to promote its name and logo on the A Line -- the commuter rail line under construction from Denver Union Station to Denver International Airport -- and on Flatiron Flyer buses, which begin service in January along U.S. 36 between Boulder and Denver.  CU will place ads on the exterior of airport trains, along with its name and logo, and on other promotional and informational materials associated with the A Line and Flatiron Flyer.
 
The RTD Board of Directors will host a series of live telephone town hall meetings and they want to speak with you.  Fifteen sessions will be conducted from Sept.28 through Oct. 22, each hosted by the director of his or her RTD district.
The agency employs this innovative technology to reach 450,000 residents throughout the metro region. Residents will be called and invited to remain on the line to be included in the live telephone town hall event.  You'll learn the latest about bus and light rail service, the FasTracks transit expansion program and other RTD projects.  Learn how you can participate in the telephone town halls at:
 
 
Workforce Initiative Now (WIN), pioneered by the Regional Transportation District (RTD), has been awarded nearly $700,000 in Federal Transit Administration (FTA) Ladders of Opportunity funding to strengthen efforts to train Coloradans for long-term careers in the transportation industry.  RTD is among 17 public agencies awarded a combined $9.5 million in FTA grant funding to advance workforce development initiatives to train, employ and support workers seeking jobs on large transportation infrastructure projects and in maintenance and operations after they are completed.  WIN will use the grant, part of the FTA's 2015 Innovative Public Transportation Workforce Development Program, to build on existing strategies to recruit participants from underserved communities and implement a mentorship initiative for other public transportation agencies interested in learning from RTD's experience. The FTA administers the grant program through its Ladders of Opportunity initiative, which funds significant regional or national public transportation workforce development projects.
 
The Mall Experience: The Future of Denver's 16th Street Mall, a study led by Denver Community Planning and Development in partnership with the Downtown Denver Partnership (DDP), is aiming to guide improvements to the 16th Street Mall.  "We want people to enjoy the mall; come more often, and stay longer. To achieve that, we are studying mall activity and conducting public outreach to identify ways to help the mall reach its full potential as a welcoming place for everyone, in the heart of a vibrant downtown."  This summer, the DDP hosted five "Meet in the Street" events on Sundays to activate the mall through live music, kids' activities, extended patios, arts and culture. RTD's Free MallRide service was detoured onto 15th and 17th streets to allow for diverse programming on the mall. Meet in the Street events allowed planners to test and observe a variety of mall-activation tactics that could inform future recommendations for the mall.
 
The Regional Transportation District is acquiring 36 new electric shuttle buses for the 16th Street MallRide in downtown Denver. The cost for the 45-foot long coaches is $27.1 million. The buses will have wide doors and low floors to accommodate easy passenger access. A Chinese company, BYD Motors Inc., will build the coaches and assemble them in California.   
 
RTD staff is participating in Denver's Alternatives Analysis/Environmental Clearance study to consider East Colfax transit options between I-25 near the Auraria campus to the Anschutz/Fitzsimons medical campus near I-225. The project team has completed the Alternatives Analysis and determined that the preliminary locally preferred alternative is Bus Rapid Transit (BRT) in exclusive lanes during the peak periods. The next step is an Environmental Clearance phase which kicked off in May 2015 and is anticipated to be completed in late 2015.
 
RTD has received a Federal Ladders of Opportunity grant to fund a capital project to reduce travel time and increase security and ridership for 15L bus route. The project includes: stop amenity improvements (repair and replace existing amenities; lighting; shelters; security cameras), bus bulbs at a few locations, transit signal priority (TSP), and bypass lanes/queue jumps. The project includes East Colfax from Broadway east to Potomac (near 1-225). It is important to note that from Yosemite to Potomac the project will only include improved stop amenities. RTD staff is working closely with the City of Denver to coordinate the two Colfax projects.
 
RTD, in partnership with the City and County of Denver and the Downtown Denver Partnership selected ZGF Architects LLP as the prime consultant to lead the Civic Center Station Transit District Master Plan. The ZGF team is joined by local consultants Steer Davies Gleave, GBSM, among others. The Master Plan will develop short, medium, and long-term strategies to enhance multi-modal connectivity, boost economic development, and improve the public spaces in and around Civic Center Station.
 
OnDeck Capital will expand its Denver operations, adding about 400 jobs and leasing 72,000 square feet in the Denver Post building at 101 West Colfax Avenue. The New York-based financial services company provides small business loans online. It will move from 20,027 square feet nearby in the Denver Place building at 999 18th Street. OnDeck will occupy two floors in the Denver Post building and plans to complete the move in early 2016.
 
The former Virgin Megastore space in the Denver Pavilions retail and entertainment center in downtown Denver has been leased to four tenants. The 25,000 square foot space became vacant when the retailer closed operations in 2009. Gart Properties acquired the center at Welton Street and the 16th Street Mall in 2008 and has been renovating the property and attracting new retail and restaurant tenants. The vacant Virgin Megastore space will be occupied by Harry's Tavern, Forever 21, Native Foods Cafe and It'Sugar, a candy shop.
 
The mixed-use Z Block project under construction in LoDo has been renamed Dairy Block. The new name honors the inclusion of the historic Windsor Farm Dairy buildings in the project which is being constructed in the block bounded by 18th, 19th, Wazee and Blake streets. The project is being developed by McWhinney and will include about 250,000 square feet of office space, 60,000 square feet of retail and a 172-room hotel.
 
A partnership of Zocalo Community Development and the Emily Griffith Foundation announced plans to build an affordable apartment building in downtown Denver. The project will be located on what is now a parking lot at 1811 Lincoln Street. Tentative plans call for a structure of up to 20 stories. The building would provide about 200 affordable apartment units, a day care center and a workforce development center operated by the Emily Griffith Technical College, which is located across Lincoln Street from the site. Construction is expected to begin in the second half of 2016.
 
Co-working space manager WeWork leased 72,000 square feet in the Triangle building at 1550 Wewatta Street near Denver Union Station. The ten-story building is being developed by East-West Partners and is nearing completion. The developer previously announced that Liberty Global leased 70,000 square feet in the Triangle.
 
The Colorado Health Foundation is planning to occupy a new headquarters in Uptown. The organization submitted plans to Denver planners for a 31,340 square foot building at East 18th Avenue and Pennsylvania Street. Upon completion of the building in late 2016 the foundation will relocate from its current headquarters at 501 South Cherry Street in Glendale. 
 
Construction was completed on the conversion of a former hotel near Sports Authority Field at Mile High into 179 micro apartments. TheTurntable Studios is located at 1975 Mile High Stadium Circle and is Denver's first project to offer micro apartments, units that are smaller than standard studio units. The 13-story building was constructed as a hotel  in 1969. Nichols Partnership is developer of Turntable Studios. 
 
Denver Water plans to redevelop its 34.6 acre property south of downtown. The agency provides water to 1.3 million customers in the City and County of Denver and some suburbs. The Denver Water property is lies generally between West 6th and West 12th avenues near the South Platte River. The $195 million project will be accomplished over four years and will stress sustainability and energy management. Construction is scheduled to begin in late 2016 with real estate developer Trammell Crow Company as project manager.
 
Denver Health will construct a six-story office building at West 6th Avenue and Broadway, adjacent to the hospital's main campus. The $65.2 million project will contain about 180,000 square feet and will allow the hospital to relocate some of its administrative and physician offices. A $150 million ambulatory care center will replace the hospital's current administrative offices at 600 Bannock Street once the new building opens in 2017.
 
Greystar Residential may develop a 16-story apartment building onSpeer Boulevard at Bannock Street in the Golden Triangle neighborhood. The Charleston-based company may start construction on the as-yet unnamed project by the middle of 2016, pending planning approvals. Tentative plans call for about 300 apartment units and 32,000 square feet of ground-level retail space.
 
Legacy Partners plans to begin construction in early 2016 on a 322-unitapartment building in the Golden Triangle neighborhood near downtown. The seven story building will replace a parking lot at 1306 Speer Boulevard. The project was submitted to Denver planners with a tentative name of Speer Tower.
 
Urban Ventures and White Construction Group will renovate an 87-year old warehouse into a 65,000 square foot office building. The project atWest 14th Avenue and Zuni Street is the initial development of a 3.2 acre site that will be called Steam on the Platte. Future phases may include additional office space and possibly residential uses. The initial phase in the former Johnson and Bremer Soap Factory will be anchored by NIMBL, a technology consulting firm that will occupy 20,000 square feet.
 
Invent Development Partners started construction on Backyard Residences, a 14-unit townhouse project on Blake Street between 30th and 31st streets in the RiNo neighborhood. The townhouses are part of the larger Backyard on Blake mixed-use development that will include office and commercial uses. Sale prices for the residential units will begin at $469,000.
 
Four Winds Interactive leased the former Deep Rock bottling plant in Five Points. The software company, which recently leased space at 1221 Broadway as its new headquarters, will use the 26,000 square feet at 2501 Welton Street for warehouse and support facilities. Rick Door and Chad Kollar of Cresa Denver represented Four Winds while the property owner was represented by Chris Coble of Black Label Real Estate and Tom Welsh of Welsh Commercial.
 
The developer of the Industry co-working space at 3001 Brighton Boulevard is adding a second location in north Denver. A 150,000 square foot building is being constructed at 38th and Blake Streets by Wink, Inc. and is scheduled for completion in mid-2016. The building is adjacent to the future RTD commuter rail station and involves the renovation of an existing building into co-working office space and construction of a new section. The site has room for a 300,000 square foot expansion in a future phase.  
 
Trammell Crow Residential is planning to develop Alexan Arapahoe Square, a 353 unit apartment building at 2200 Welton Street. The 12-story building will be located along the Welton Street RTD light rail line and if approved by Denver planners will join a series of new apartment buildings under construction or planned along Welton Street between Broadway and Five Points.
 
Construction began on The Brownstones at King Stroud Court, a 26-unit townhouse project in the Five Points neighborhood. The development is located at 2400 Washington Street. The developer reported that 24 of the townhouses were presold.
 
Greystar bought 1000 Broadway South, a recently completed 262 unit apartment community in south Denver. The seller was the developer, Fore Property Company. The project is located at the northeast corner of South Broadway and East Mississippi Avenue on what was once part of the Gates Rubber Company industrial complex. Greystar paid $64.6 million for 1000 Broadway South, or about $240,000 per unit. Pam Koster and David Martin of Moran and Company were listing agents for the sale.
 
Gables Residential bought a 1.3 acre site at 351 South Jackson Street in the Cherry Creek East neighborhood. The company plans to developGables Jackson, a 242 unit project comprised of two towers, one of eight stores and the other of twelve. ARA Newmark was the broker for Gables Residential in the acquisition of the site.
 
Mill Creek Residential Trust plans to begin construction in August onModera Observatory Park, a 275-unit development near the University of Denver. The units will be contained in two buildings on the east and west sides of South Josephine Street at East Buchtel Boulevard. The Dallas-based developer expects construction to be finished in early 2017.
 
A center for digital health-related businesses will be developed on a 1.5 acre site in RiNo. Catalyst Health-Tech Innovation selected the site on Brighton Boulevard between 35th and 36th streets on which it will develop a 300,000 square foot campus. The first phase will contain 180,000 square feet and is scheduled to begin construction in mid-2016. Catalyst is being developed by Koelbel and Company and Mike Biselli with landowner Larry Burgess as a partner.
 
Mill Creek Residential Trust plans to start construction in September onModera River North, a 362-unit apartment development at Brighton Boulevard and 28th Street in the emerging RiNo neighborhood. The Dallas-based company has been quite active in Denver, with several apartment communities under construction or planned.
 
Conscience Bay Company bought the Colorado Trade Center, a 700,000 square foot industrial complex at 5151 Bannock Street in north Denver. The property was acquired by the Boulder-based company from the Bannock Street Limited Partnership for an undisclosed price. The transaction was handled by DTZ brokers Jim Brady, Craig Myles, R. C. Myles and Tyler Smith. 
 
The recently started Crossroads Commerce Center in north Denver signed its first tenant. Empire Staple Company will occupy a 61,870 square foot building in the park on Washington Street at East 55th Avenue. Trammell Crow Company is developing the $85 million industrial park on the site of the former Asarco mill and smelter. Empire Staple distributes tools and manufacturing and packaging supplies. The Crossroads location will replace smaller quarters at 1710 Platte Street.
 
The expansion of The Source mixed-use development on Brighton Boulevard in north Denver will include 19,000 square feet of additional retail space. The Market Hall will be built adjacent to the previously announced 100 room hotel. Zeppelin Development will also construct a 300 space garage, with all of the work to be finished in 2017.
 
The Lynd Company plans to start construction in late 2015 on a 277-unit apartment building in the Industry mixed-use development in RiNo. The nine story building will be located at 30th Street and Brighton Boulevard adjacent to the co-working and creative offices in the Industry complex. 
 
Zeppelin Places plans to develop a 100,000 square foot office and retail building in the RiNo neighborhood of north Denver. Gauge will be located at 35th and Wazee streets, east of Brighton Boulevard. The four-story building will contain 20,000 square feet of ground level retail space and 80,000 square feet for office uses. Construction is scheduled to begin in early 2016.  Gauge will be located several blocks from the RTD commuter rail station at 38th and Blake streets, which will open in 2016.
 
Trammell Crow Company plans to begin construction on the first phase ofCrossroads Commerce Center, a 36-acre project at East 55th Avenue and Washington Street in north Denver. The site is the former Asarco smelter in the Globeville neighborhood. The initial phase will contain 640,000 square feet of warehouse and industrial buildings, with completion set for the spring of 2016.
 
The Denver Planning Board approved the general development plan for the site of the former Denver Post printing plant at 4400 Fox Street in north Denver. The plan calls for a mix of residential, retail and office uses. Ascendant Capital Partners bought the 41-acre site in 2007 and will clear the land of buildings and make the site available to residential developers. The property is about three blocks north of the RTD commuter rail station at Fox Street and West 41st Avenue. Its location in the southwest quadrant of the I-25 and I-70 interchange restricts vehicular access only to the south on Fox Street and West 44th Avenue.
 
Consolidated Investment Group plans to develop a 140 unit apartment building at East Colfax Avenue and Corona Street in Capitol Hill. The company bought the existing Route 40 apartment building, a 28-unit property that was renovated by Slipstream Properties. On an adjacent parking lot Consolidated will build the eight story addition. ARA Newmark Grubb Knight Frank brokered the acquisition from Slipstream Properties of the existing building and the 0.7 acre tract of vacant land. Construction on the addition is due to begin in the spring of 2016.
 
Johnson and Wales University completed a $32 million renovation project at its east Denver campus. The university, which offers programs in several professional and culinary arts fields, plans to expand enrollment from the current 1,500 students to 2,000 over several years. The renovation work at the campus on Quebec Street at East Montview Boulevard included the historic but long-vacant Treat Hall, which originally housed the Colorado Women's College. Denver is one of four campuses for Johnson and Wales, with others in Charlotte, Miami and Providence. 
 
Construction started on the expansion of Colorado Center, a mixed-use development at I-25 and South Colorado Boulevard in southeast Denver. Lincoln Property Company, in partnership with ASB Real Estate Investments, is adding a 210,000 square foot office building and 40,000 square feet of retail space. A second phase will contain 269 apartment units. Colorado Center is adjacent to an RTD light rail station.
 
The City and County of Denver Department of Public Works completed construction on the pedestrian and bicycle bridge over I-25 east of South Colorado Boulevard. The bridge will improve access for residents and employees of businesses north of I-25 who wish to connect with light rail trains and buses at the Colorado Center station south of the freeway.
 
A review committee selected Studiotrope Design Collective as the architect for the planned Levitt Pavilion amphitheater in Ruby Hill Park in southwest Denver. The outdoor music and performance venue will be located in the northern part of the park on West Florida Avenue near South Platte River Drive. The facility will seat about 7,500 people on the grassy areas near the stage and will offer about 50 free concerts annually. The Denver amphitheater is the seventh of its type in the US and is being funded by the nonprofit Mortimer and Mimi Levitt Foundation. Construction is scheduled to be completed in 2017. 
 
Encore Multi-Family LLC announced plans to develop a 225 unit apartment project near the West Evans Avenue RTD station in south Denver. Encore Evans Station will be located on a 5.8 acre site at the northwest corner of West Jewell Avenue and South Bannock Street, about three blocks from the RTD station. ARA Newmark brokers Chris Cowan and Steve O'Dell represented the property owner in the sale. Construction is scheduled to begin by the end of 2015. 
 
A showroom building in the Denver Design Center in south Denver is being converted into office space oriented to creative tenants. The 60,000 square foot building is located at 575 South Broadway. The Denver Design Center is part of a 75-acre future mixed-use transit-oriented community that will be developed by D4 Urban. The company currently is finishing work on Denizen, a 275-unit apartment project adjacent to the Alameda Avenue light rail station on the western edge of the property.
 
The City of Glendale reduced the size of Glendale 180, an entertainment and retail center planned along Cherry Creek between South Colorado Boulevard and South Cherry Street. The reduction was due to the exclusion of property at the southeast corner of South Colorado Boulevard and East Virginia Avenue from the scope of the project. The current plans call for about 270,000 square feet of space, and possibly a hotel, to be developed for the City of Glendale by Houston-based developer Wulfe and Company. Construction is scheduled to begin in 2016.
 
A New York investor bought five apartment properties in Glendaleand in adjacent Denver locations. The properties on South Birch, South Cherry and South Clermont streets and East Mississippi Avenue contain a total of over 530 units and were purchased for $70 million, or about $132,000 per unit on average. ARA Colorado handled the sale for the owner, Blueline Properties. The identity of the buyer was not revealed. 
 

King Soopers recently opened the first full-service grocery store to open in downtown Denver.  The 46,476-square-foot store, developed by Greystar and located at 20th Street and Chestnut Place on the ground floor of the 314-unit Elan Union Station residential develop 
 

 
 

 

 

 


 

 
Sponsorship of Real Estate Perspective and Cherry Creek Perspective by the Colorado Chapter of the Appraisal Institute does not constitute endorsement of James Real Estate Services, Inc. by the Chapter.
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