Nearly 400 people turned out on April 9th to join
the Regional Transportation District (RTD) and its
many partners for a unity parade and rally as a part
of "Stand
Up 4 Transportation Day"-a national day of
advocacy on April 9 to create awareness and support
for long-term, sustainable transportation funding.
At Union Station, the crowd gathered for a rally to
encourage Congress to pass long-term transportation
funding. Denver Mayor Michael Hancock got the crowd
pumped up with a catchy chant: "Pass the bill. Pass
the damn bill." Congresswoman Diana DeGette attended
the rally to hear the call from the people
first-hand. "I call on Speaker Boehner to do his job
and bring the bill to the floor for a vote."
The
Stand Up 4 Transportation effort is being led by the
American Public Transportation Association (APTA) to
push the U.S. Congress to pass a long-term
transportation spending bill. The current funding
bill, Moving Ahead for Progress in the 21st Century
(MAP 21), expires May 31. Former RTD General Manager
and CEO Phillip Washington initiated the idea in his
role as this year's chair of APTA. Along with RTD,
more than 350 transportation partners from across
the nation marked the day with a variety of
activities in many other cities including Los
Angeles, San Francisco, San Diego, Dallas, Atlanta,
New Jersey, Phoenix, Charlotte, Boston, Salt Lake
City and others. An online petition to Congress as
well as information on how to contact members of
Congress voicing support for transportation funding
is available online at:
www.standup4transportation.org
Phil Washington, who has been at
the helm of the Regional Transportation District for
the past six years, was recently selected by the Los
Angeles County Metropolitan Transit Authority as
the agency's next CEO. Phil has been an executive at
RTD for 15 years-the last six as GM and CEO and nine
before that as an assistant general manager. Prior
to coming to RTD, Phil had just retired as a Command
Sergeant Major from the US Army after 24 years of
service. From
implementation of the FasTracks transit expansion
program, to creation of new funding strategies
through public-private partnerships, to development
of career pathways through the WIN program, Phil has
transformed RTD and the metro area. We thank him and
wish him well in this new endeavor. RTD's board of
directors is actively seeking a new general manager,
and has appointed Dave Genova, Assistant General
Manager of Safety, Security and Facilities as
interim general manager until a permanent
replacement is hired. The Board has appointed a
General Manager Executive Search Committee (GMESC).
The GMESC process is designed to take into
consideration RTD's current position as the nation's
vanguard transit agency. RTD has begun a
comprehensive outreach effort to keep employees,
stakeholders and community informed.
In
response to Stand Up 4 Transportation Day, Congressman
Ed Perlmutter read
the following into the Congressional Record:
Mr.
Speaker, I rise today to recognize and applaud
Denver's Regional Transportation District (RTD) and
the many cities around the country that participated
in Stand Up 4 Transportation Day this past April
9th.
In
Denver, nearly 400 people came out to support the
many forms of public transportation around Colorado,
ranging from buses, shuttles, vans, bicycles, cabs,
car services, pedicabs, light rail and rail. More
than 350 organizations in U.S. cities and towns
participated in the event. Stand Up 4
Transportation Day succeeded in raising awareness
about the importance of public transportation and a
long-term, sustainable transportation authorization
bill.
Stand
up 4 Transportation Day was a brainchild of former
General Manager and CEO of RTD, Phil Washington.
During his time with RTD, he always pushed for
surface transportation reauthorization for the
future. In Phil's own words, "It's time to do some
nation building. But the funding is key to more
access to transit, new buses and trains, more
reliable service, less gridlock. We can't meet the
demands of our growing population and economy
without a long-term commitment from Washington."
I
applaud Phil and Denver's RTD for their efforts in
the Denver metro area. Our communities are more
connected and our quality of life is better for it.
Thank
you
Exciting things are happening with RTD's
FasTracks program. Construction
crews are hard at work preparing for the opening of
the US 36 rapid transit bus service and four rail
lines in 2016. RTD's new bus rapid transit service,
the Flatiron Flyer, will connect commuters to
Denver, Westminster, Broomfield, and Boulder. Road
construction on the US 36 express lanes is 93
percent complete with 10 of the 18 miles opening in
mid-summer. We see test trains on the East Rail Line
tracks between downtown and the airport. The Gold
Line to Arvada, and the Northwest Line to
Westminster are nearly 75 percent complete, and
construction on the I-225 Line has reached the
halfway mark. More at:
http://www.rtd-denver.com/Fastracks.shtml
RTD
is making good progress with the agency's ongoing Fare
Study. The
purpose of the Fare Study is to simplify RTD's
existing fare structure in a manner that is
cost-effective, equitable and better serves the
District's needs going forward. RTD conducted 16
public hearings to present the Fare Study Task
Force's recommendations to riders, stakeholders and
the general public. The task force is gathering as
much public input as possible before taking a final
recommendation to the Board for approval. The
public can also watch an explanatory video at:
www.rtd-denver.com/farestudy
The
Board is expected to take a final vote on the
proposed fare changes in May. RTD will implement
any approved fare policy changes in early 2016,
before the opening of five new transit lines. In
the near future, RTD also plans to expand and build
upon its existing smart card system. The Fare
Study's next phase will include a comprehensive
evaluation aimed at streamlining RTD's pass programs
including the Nonprofit Agency Reduced Fare Program,
which currently enables more than 200 nonprofits and
social service agencies to provide free or
reduced-cost fares to low-income passengers.
Denver City Council Member Jeanne Robb reports that
the East
Colfax Transit Alternatives Analysis of
the best transit option for East Colfax Avenue
resulted in a recommendation for bus rapid transit
or BRT. The City of Denver could request permission
to enter into the initial phase of the Small Starts
federal transit funding program at anytime. However,
the Federal Transit Authority has told us that we
will be more competitive if we finalize our NEPA
(environmental protection) phase and begin some
design work before entering. The current schedule
contemplates completing NEPA this fall. Denver
Public Works has requested funds from the Budget
Office in the coming year(s) to help pay for some
design work to help further refine the project so
that we are competitive for funding. Based on this,
the earliest submittal for Small Start funding would
be the fall of 2016.
The Central
Denver Recreation Center contractor
plans to break ground in August 2015.
The
contractor working on the City's Storm
Drainage Improvements Project in the Cherry Creek
North area
has completed the majority of the work up to the 4th
Avenue and Detroit intersection ahead of schedule.
The storm drainage outfall pipes, new inlets,
utility relocations, water line and gas line
upgrades and street repaving have mostly been
completed. The completion of Columbine Street
repaving between 2nd and 3rd Avenues has not been
completed due to upcoming site and utility work by
the developers of the 245 and 250 Columbine
projects. The project involves a new storm drain
line in 4th Avenue east to the alley east of St.
Paul Street. Some additional inlet construction will
also be completed to add capacity at Clayton Street
and 4th Avenue to relieve historic flooding
conditions in the 200 block of Clayton Street. For
additional information and project contacts visit:
www.denverstorm.com
Also
the City proposes a "bundle" of zoning
Proposed Text Amendments in
response to feedback from permit customers,
neighborhood organizations, and Denver residents and
will help meet the changing needs of our community.
Some of the proposed changes include:
-
Earlier neighborhood notifications on rezoning
proposals.
-
Adjusted bicycle parking standards for churches,
recreation centers and hotels.
-
New requirements to activate the ground-story of
buildings in main-street and mixed-use districts
for an improved pedestrian experience.
-
New regulations for where commercial marijuana
extraction may take place.
More
at:
http://www.denvergov.org/cpd/CommunityPlanningandDevelopment/Zoning/TextAmendments/tabid/438089/Default.aspx
At I-25
and Broadway Station planners
will soon invite area residents, property owners and
business owners to participate in shaping the future
of the I-25 and Broadway station area. This station
area is one of Denver's greatest transit-oriented
development (TOD) opportunities outside of Denver
Union Station. When complete, the plan will provide
a framework, vision elements, strategies,
transformative projects, and implementation
strategies for the future evolution of the station
area. It will also identify needs and make
recommendations for infrastructure, mobility,
parking, land use, open space, economic development,
housing, partnerships and other cultural and
community investments.
-
Saturday, May 9
- 9
a.m. - noon
-
Denver Design District - 595 South Broadway
-
Meet by the "Articulated Wall" -- tall yellow
sculpture
www.DenverGov.org/i25broadway
Denver City Council Member Mary Beth Susman reports
that the pedestrian/bike crossing on the High
Line Canal Trail at Parker and Mississippi is
scary at best. In 2014 a massive study was conducted
of all the crossings along the length of the trail.
The crossings were then ranked to find those most
urgently in need of modification, and not
surprisingly, the Parker and Mississippi crossing
topped the list. DRCOG (Denver Regional Council of
Governments) has agreed the situation needs to be
fixed, and has earmarked matching funds from their
Transportation Improvement Program to underground
the crossing. When completed, pedestrians and bikes
will be able to cross below Parker Road without
worrying about car traffic.
Gather your family and friends for the Save
Our Sundial Independence Day Family Fun Festival in
Cranmer Park on Thursday evening, July 2, 2015.
Activities will begin at 5:30 pm, with a variety of
entertainments for the young and not-so-young! Wear
your red, white and blue patriotic clothing and come
have some fun! The Independence Day Family Fun
Festival will conclude with Glendale's fabulous
annual fireworks presentation at about 9 pm.
Free
musical entertainment will be provided throughout
the evening. Activities for the kids will require a
nominal donation to benefit Save Our Sundial. There
will be a number of food trucks on site to provide
tasty treats for your family's dining experience, or
you can pack your own picnic. Bring blankets and
chairs if you'd like. We'll be sharing the park with
a kickball tournament and maybe a few soccer games.
There's plenty of room for everyone - feel free to
bring your frisbees! Well behaved, leashed dogs are
welcome to join their families, too.
Save
Our Sundial, a project of The Park People, continues
its efforts to raise sufficient funds to restore the
Sundial and Sundial plaza to its original glory,
with a keen eye toward historic preservation and a
plan for responsible maintenance going forward.
Donations to the Save Our Sundial Fund will be
encouraged and accepted at the event. If you'd
prefer to make a donation online, you may do so
anytime at www.SaveOurSundial.com,
or by mailing a check to The Park People/Save Our
Sundial Fund, 1510 South Grant Street, Denver, CO
80210. All donations are fully tax deductible as The
Park People is a recognized 501 (c) (3) organization
with a 46 year history of advocating for Denver's
parks.
Civic Center Station has
served as one of RTD's regional bus transit centers
and has been a part of the downtown landscape for
more than three decades. Now, it is time for this
important transit hub to get a much-needed facelift,
with two projects that will transform Civic Center
Station for the future. Civic Center Station serves
as one of RTD's busiest regional bus transit centers
with 18 routes and it provides a turnaround point
for the 16th Street MallRide. It is also the
location of the Civic Center Plaza. The new design
proposes a complete renovation of the site
including:
-
Nine bus bays
-
Glass-enclosed terminal building
-
Bus concourse rebuild
-
Bus ramp extension connecting Broadway to Lincoln
-
Open view from 16th Street Mall to the State
Capitol
RTD
and downtown partners are sponsoring the Civic
Center Transit District Plan (CCTDP)
to establish a long-term vision and identify
near-term implementation options for the future of
the station area as a revitalized urban transit hub
and new downtown anchor. The CCTDP will establish a
vision for transit operations, multi-modal mobility
and connectivity, public realm planning and economic
development opportunities within the transit
district area. The CCTDP kicked-off in January
2015 and is expected to last about one year. The
effort also involves analysis of short, medium and
long-term implementation strategies for a
20,000-square-foot developable parcel along the
north side of Colfax Avenue between Broadway and
Lincoln Street. Once complete, the Civic Center
Transit District will be a model of how multiple
transit services can organize within a very active,
yet constrained, urban area while maintaining
high-quality connectivity for bicycles, pedestrians
and vehicles. Streetscape and wayfinding
elements will create a unique district identity and
economic development opportunities within the
transit district will be examined to build upon
synergies between transportation and development.
Public input is important to the success of the
Civic Center Transit District Plan and the team is
doing targeted outreach to stakeholders, commuters
and the community to get their suggestions and ideas
for how the area can be transformed for the future.
The
Colorado Department of Transportation set July 13 as
the date it will implement its regional bus service.
The system will feature routes that terminate at
Denver Union Station and radiate to Colorado
Springs, Fort Collins and Glenwood Springs, with
intermediate stops. The 13 buses will be branded as Bustangs.
The
food court at the Republic
Plaza building in
downtown Denver will be replaced with an 8,000
square foot co-working space and a 7,000 square foot
fitness center. Republic Plaza is located at 370
17th Street. At 56 floors it is the city's tallest
building.
Zayo Group opened
a 19,000 square foot data
center at 1500 Champa Street in
downtown Denver. The center is designed to help
Zayo's customers connect with the company's fiber
optic network. Zayo, which is based in Boulder, has
similar data centers in Centennial and Inverness.
Shorenstein Properties
plans to begin construction by the end of 2015 on 1709
Chestnut Place, a
510-unit apartment project in the Central Platte
Valley near Denver Union Station. The San
Francisco-based developer is proposing two
buildings, one of 24 stories and the other of 12
floors. About 16,000 square feet of retail space
would be located on the ground floors.
AMLI
Residential plans to develop another apartment
building in the Riverfront Park neighborhood of
downtown Denver. The 305-unit AMLI
Riverfront Green would
be located on a site along the south side of Little
Raven Street between 18th and 19th streets.
Construction on the seven-story building is
scheduled to begin in late 2015.
Japanese clothing retailer Uniqlo leased
22,000 square feet in the Denver
Pavilions retail
center on the 16th Street Mall in downtown Denver.
The company has 39 stores in the US and about 1,500
worldwide, mainly in Europe and Asia. In addition to
the new Denver store Uniqlo plans stores in suburban
Washington (DC) and Seattle, all of which will open
in 2016.
Comcast Corporation moved
into 22,000 square feet of office space at 1899
Wynkoop Street in
downtown Denver. The telecommunications company is
relocating about 200 jobs to the new office from
Centennial. The new office will be occupied by
employees of Comcast Wholesale, a division for
content distribution and media management.
Construction started at Union
Tower West, a
$92 million office and hotel project at 1801 Wewatta
Street near Denver Union Station in downtown Denver.
The development will include a 180-room Hotel
Indigo, 100,000 square feet of office space and
10,000 square feet of retail space. Union Tower West
is being developed by Portman Holdings and
InterContinental Hotels Group. Construction is
expected to be completed by late 2016 or early
2017.
Holland Partner Group began construction on 17W,
a 640 unit apartment
building in
downtown Denver near Denver Union Station. When
completed in late 2016 the project will be one of
the largest apartment communities in metro Denver.
The 13-story, U-shaped building will have retail
space on the ground floor, including a Whole Foods
supermarket. 17W will occupy the block bounded by
17th, 18th and and Wewatta streets and Chestnut
Place.
The
expansion of a Walgreen's pharmacy
at 16th
and Stout Streets will
also result in the creation of about 18,000 square
feet of office space above the store. Walgreen's is
in the process of expanding into space formerly
occupied by a Dress Barn store. As part of the
expansion the building owner, a group of four Denver
families, decided to renovate the space on the
second floor which had been vacant and unusable for
15 years. Newmark Grubb Knight Frank is handling
leasing of the office space,
Construction started on Z
Block, a
mixed-use development in LoDo. The project will
occupy much of the block bounded by 18th, 19th,
Blake and Wazee streets will will contain about
200,000 square feet of office space, a 172-room
hotel and 30,000 square feet of retail and
restaurant space in new and restored buildings. The
project is being developed by a partnership of
McWhinney, Great American and Sage Hospitality.
Construction is scheduled for completion in
September of 2016. Industrial
developer ProLogis will move its operational
headquarters to Z Block. The company's corporate
headquarters will remain in San Francisco but its
operational offices will occupy about a third of the
office space component of Z Block.
The Colorado
Athletic Club leased
about 38,000 square feet of space at 1601
Wewatta Street, a
300,000 square foot office building being developed
by Hines and Jordan Permutter and Company in LoDo.
The LoDo location will be the eighth for Colorado
Athletic Club, including two others in downtown
Denver.
The Saint
Francis Center proposes
to build a 50-unit apartment building for residents
transitioning from homelessness. The building would
occupy a site at East
14th Avenue and Washington Street in
Capitol Hill owned by Saint John's Episcopal
Cathedral and leased to the non-profit sponsor on a
99-year term. Development may begin in early 2016 if
the Saint Francis Center can obtain low income
housing tax credits to help fund the project.
RedPeak Properties began site work for 707
Sherman Street. The eight-story building at
the northwest corner of East 7th Avenue and Sherman
Street in Capitol Hill will contain 105 units.
Completion is set for late 2016.
Zipcode: 80203
City
Office REIT bought the Logan
Tower, a 69,968 square foot office building
at 1580 Logan Street in downtown Denver. The
Vancouver-based company paid DPC Development Company
$10.5 million, or about $150 per square foot. The
ten-story building was constructed in 1983.
The Wizard's Chest is
moving from its long-time location in Cherry Creek
North to larger quarters at 451 Broadway near
downtown. The toy and costume shop will expand from
8,000 square feet at 230 Fillmore Street at over
12,000 square feet at its new location. The retailer
has been located in Cherry Creek North for 33 years
but needs additional space.
White Cap Construction Supply leased
107,000 square feet of warehouse space at 701
Osage Street in
the Denver Urban Business Center, south of downtown
Denver. The company distributes tools and
construction materials. The former Sears
distribution center is now owned by Arc Capital
Partners, which is converting the building to
multi-tenant industrial use.
Metro
State University is planning to construct a 142,000
square foot aerospace
and engineering sciences buildingon the
Auraria campus. The $70 million classroom facility
will be located on the southeast corner of Auraria
Parkway and 7th Street. MSU expects construction to
begin later this year with completion in 2017.
The
Welton Street corridor north of downtown Denver
continues to be a popular locale for proposed
apartment projects. The latest is 2560
Welton, a 130-unit building to be developed
by a partnership of Confluence Companies and
Palisade Partners. The eight-story building will
also include ground-floor retail space and 15,400
square feet of second floor office space.
The Thrive
Workspace co-working
operator expanded its downtown space, leasing 24,000
square feet at 1415 Park Avenue West in the Ballpark
neighborhood. The office will replace smaller
quarters at 18th and Blake streets and will be able
to accommodate up to 70 tenants. Thrive has plans
for a future co-working operation on the 16th Street
Mall of about the same size as the Park Avenue West
space. .
The
Denver City Council tentatively approved the master
plan for improvements to the Denver
Zoo. The plan cover a 15 to 20 year period
and calls for 32 new structures and exhibits,
although some of those would replace existing
structures. The 80-acre Denver Zoo is located on the
north side of City Park, west of Colorado Boulevard
in east Denver. .
Treehouse Brokerage and Development of Denver filed
a rezoning request with Denver planners to allow the
development of Sustainability
Park, a residential community in the Curtis
Park neighborhood north of downtown Denver. The
company plans to buy the property, which is bounded
by 25th, 27th, Arapahoe and Lawrence streets, from
the Denver Housing Authority. The concept calls for
160 to 190 for-sale multi-family units. The rezoning
application will be considered by the Denver
Planning Board and the Denver City Council.
Construction started on the conversion of a north
Denver warehouse into Stride,
a co-working facility for health care technology
firms. The project is being developer by Wink, Inc.
at 3825 Lafayette Street near the future RTD
commuter rail station at Blake Street and 38th
Street. Concept plans are currently being developed
for a second phase of Stride.
Stonebridge Companies
is planning to develop a hotel
replacing the Rollnick Building at
the northeast corner of East 2nd Avenue and
Milwaukee Street in Cherry Creek North. Details have
not been finalized for the hotel, which will have
about 200 rooms. The company bought an existing
office building and parking lot on the site in late
2014.
Rite Aid will
close its store in Cherry Creek and move to a new
facility at Leetsdale Drive and South Cherry Street.
The new store will have 14,600 square feet and is
being developed by Kentro Group. Rite Aid shares a
52,500 square foot building with a Safeway
supermarket adjacent to the Cherry Creek shopping
center at the southwest corner of Steele Street and
East 1st Avenue. Safeway is
negotiating with Taubman Company, owner of the
Cherry Creek Shopping Center for extension of its
lease at the center.
The
Pauls Corporation filed a zone change application
that would permit construction of a twelve story
condominium building in the Cherry Creek North
neighborhood of east central Denver. The project
would be the second phase of the100 St Paul mixed-use
development on East 1st Avenue between Steele and
St. Paul streets. The Pauls Corporation is currently
completing work on the first phase, an eight-story
office building to be anchored by First Bank. If the
rezoning is approved by Denver City Council the
second phase at 149 Steele Street would contain 56
condominium units.
A
large indoor
and outdoor tennis facility may
be built near South
High School. The project, sponsored by
Denver Public Schools, the University of Denver and
Denver Tennis Park, would be located near All City
Stadium, The concept is for seven indoor and eight
outdoor courts neat I-25 and Franklin Street. The
complex would be open to the public along with
students from DU and local schools. The concept is
being discussed with neighboring residents and
Denver planners.
The
Urban Land Conservancy bought a six acre parcel of
land with an office warehouse in the Elyria-Swansea
neighborhood of north Denver. The property is
located at East
48th Avenue and Race Street near
the site of the proposed redevelopment of the
National Western Complex and an RTD commuter rail
station. The non-profit organization paid $5.5
million for the property. It will now begin to
consider transit-oriented development options.
Menalto LLC reveled plans for a five-acre mixed-use
development in the RiNo district of north Denver.
The project at 1910 38th Street will contain 108,000
square feet of retail space and ultimately up to
400,000 square feet of office space. The retail
space will be anchored by a Blue
Moon Brewing Company brewpub, which
will occupy a renovated 28,685 square foot former
warehouse. The project's site is one block west of
Brighton Boulevard and several blocks from RTD's
future commuter rail station at 38th and Blake
Street.
Lynd
Real Estate plans to develop a 277 unit apartment
building at 3001
Brighton Boulevard in
the RiNo neighborhood of north Denver. The six-story
building would be part of the mixed-use Industry
complex being developed on the site. Construction is
scheduled to being in late 2015.
The
Brighton Boulevard corridor may get another
apartment community. Mill Creek Residential Trust
submitted plans to City and County of Denver
planners for Modera
River North, a
360-unit project at Brighton Boulevard and 28th
Street, just north of the Broadway underpass.
Construction on the six-story building may start in
late 2015.
The
Denver City Council unanimously approved the
redevelopment plan for the National
Western Stock Show property
and adjacent neighborhoods. The plan will likely
cost about $856 million to implement over the next
ten years. Much of the funding will come from an
extension of an existing Denver tax on lodging and
rental cars, pending approval by Denver voters,
probably in a November referendum. The National
Western Stock Show Association committed to invest
$125 million in the project, which will occupy about
275 acres of land on Brighton Boulevard at I-70.
Pending final approval by the Colorado legislature,
the State of Colorado may contribute up to $250
million for Colorado
State University's role
in the National Western Center. The concept is for
the State to engage in lease-purchase agreements on
parts of the redeveloped National Western Center on
Brighton Boulevard that would be used by Colorado
State University. The university intendeds to expand
educational programs at the National Western Center
and to operate an equine sports medicine clinic,
veterinary clinic and research center. The City and
County of Denver is seeking state tourism funds for
the center and will likely ask Denver voters to
approved the extension of existing taxes on lodging
and rental cars in a November ballot.
Streech Properties bought 500
West 53rd Place, a
112,653 square foot warehouse in north Denver. A
private investor sold the 44-year old building for
almost $5.2 million, or approximately $46 per square
foot. The seller was represented by Fuller Real
Estate brokers Jeff LaForte and Robert Pipkin while
DTZ agents Alec Rhodes, Tyler Smith and Aaron Valdez
represented Streech Properties.
The
former Penn
Garage at 1300 Ogden Street in
Capitol Hill may be redeveloped with a five-story
condominium building. Generation Development is
planning to incorporate the historic garage into the
building, which may include about 30 units. The Penn
Garage was built in 1926 and is typical of other
such garages constructed in central Denver
neighborhoods for residents who did not have their
own garages as auto ownership became more prevalent.
Pending planning approval construction may begin by
late 2015.
The
newly established Colfax
Mayfair Business Improvement District retained
the Design Workshop architectural firm to plan
streetscape improvements on East Colfax Avenue. The
work will include plans for improved sidewalks,
street lighting, landscaping and bicycle facilities
in the corridor between Eudora Street and Monaco
Parkway and around the Mayfair Town Center at East
14th Avenue and Krameria Street. The project is
being funded by the City and County of Denver and
will coordinate with plans for improved transit on
East Colfax Avenue. .
Demolition began at the site of the former
University of Colorado medical center at
Colorado Boulevard and East 9th Avenue in east
Denver. Continuum Partners acquired the property
from CU and will develop a $419 million mixed-use
project on the site, including the adaptive reuse of
several existing buildings. Demolition is expected
to take about sixteen months although work on the
first phase of development may begin by late 2015.
Construction will begin shortly on Garden
Court at Yale Station, a 66-unit apartment
building oriented to moderate income residents. The
four-story building is located near the RTD
southeast light rail line station at East Yale
Avenue and I-25. Mile High Development and Koelbel
and Company are developers of Garden Court at Yale
Station.
Stream Realty Partners bought Centerra, an 18-story
office building at 1873
South Bellaire Street in
south Denver. The 186,129 square foot building was
acquired from AEW Capital Management LP/Public
Employee Retirement System of Idaho for $26,680,000,
or about $142 per square foot. The building is
several blocks north of the RTD Colorado Center
light rail station. The seller was represented by
Chad Flynn, Tim Richey and Mike Winn of CBRE.
California investment firms 29th Street Capital and
Kayne Anderson Capital Advisors bought three
apartment properties in southeast Denver. The
companies acquires the three buildings, which
contain a total of 664 units, from Heller Stone
Properties for $70 million, or about $105,000 per
unit. The communities in the transaction are Asbury
Plaza at 5100 East Asbury Avenue, Brittania Heights
at 1251 South Bellaire Street and The Blake and
Allison at 1240 South Birch Street. ARA was
the brokerage firm that handled the transaction.
Construction started on residential units in the
first phase of Boulevard
One, the latest section of the former Lowry
Air Force Base in east Denver to be redeveloped.
Boulevard One occupies the 70 acre site of a former
military finance center south of East 1st Avenue
between Quebec Street and Monaco Parkway. Infinity
Home Collection and Wonderland Homes are the first
builders starting single family homes in the
neighborhood, with units expected to sell in a range
of $400,000 to over a million dollars. Seven other
builders have been chosen by the Lowry Redevelopment
Authority to construct units in Boulevard One.
The
Lowry Redevelopment Authority filed a rezoning
request with the City and County of Denver for the mixed-use
section of Boulevard One, the site of the
former US Air Force Finance and Accounting Center at
Quebec Street and East 1st Avenue. The 18-acre site
is planned for 450 apartment units, 120 single
family houses, 230 row houses and about 200,000
square feet of office and retail space. The
apartment units would be located above the
first-floor commercial uses in multi-story buildings
fronting on Quebec Street and East 1st Avenue. The
rezoning from O-1 to C-MX5 corresponds to the master
plan for the redevelopment of the former Lowry Air
Force Base.
An
undisclosed individual investor purchased Hilltop
Center, a 35,686 square foot retail
property in east Denver. The 14-year old center is
located at 5075 Leetsdale Drive and was acquired for
$7,050,000, or about $198 per square foot. The buyer
was represented by Nezar Aweida of REMAX Leaders
while Sperry Van Ness CRE Advisors agents Kevin
Matthews and Troy Meyer were agents for the seller.
The
City of Glendale announced plans for Glendale
180, a retail and entertainment venue on
the south side of East Virginia Avenue between South
Colorado Boulevard and South Cherry Street. The
project is designed to contain about 194,000 square
feet of retail space and 109,000 square feet
oriented to entertainment uses. The City of Glendale
intends for construction to begin in the fall of
2015 with completion in two years.
A
partnership of Central Development and DMI Real
Estate purchased 1660
South Albion Street in south Denver. The
111,786 square foot office building was acquired for
$9,880,000, or approximately $88 per square foot,
from Sperry Equities. The seller was represented by
Unique Properties LLC-TCN Worldwide broker Kurt
Holzkamp. The building is located several blocks
north of the Colorado Center RTD light rail station.
RTD and the City and County of Denver recently
constructed a pedestrian and bicycle bridge over
I-25 to improve access to the station from the
north.
Finally, great descriptions of nearly all of the
major developments in Cherry
Creek North, and of The Source
redevelopment of the old Colorado Iron Works foundry
building at 3350 Brighton Boulevard are in Colorado
Construction and design magazine at:
http://goldenbellpress.com/index.php/ccd-2014-issue-2015-winter
