The Regional Transportation District (RTD) Board
of Directors unanimously approved entering into
contract negotiations with Dave Genova as the
new General Manager and CEO. Genova has served
as the interim general manager and CEO for RTD
since April. He has been with RTD for more than
21 years, serving as the assistant general
manager of safety, security and facilities for
the past eight years. In that position, his
responsibilities included overseeing safety
certification for rail line openings and the
renovated Denver Union Station.
"After conducting a nationwide search, and
interviewing three very talented finalists, we
concluded Dave was the best fit to lead RTD
moving forward," board chairman Charles Sisk
said. "We have a long history of developing
leadership from within the agency. Pending
results of the contract negotiation, we hope to
provide an offer to Dave by the end of the
year."
Genova is a nationally-recognized industry
leader serving on several national committees
including: an appointment by the U.S. Secretary
of Transportation to the USDOT Federal Transit
Administration Transit Rail Advisory Committee
on Safety; Immediate Past Chair of the American
Public Transportation Association's Rail Safety
Committee; and the Transportation Research
Board's Transit Safety and Security Committee.
Dave is a Colorado native originally from
Pueblo, living in the Denver area since 1978. He
has a Bachelor's degree in geology from the
University of Colorado at Boulder and a Master
of Business Administration degree from Regis
University.
RTD has simplified fares for all bus and rail
service for passengers who pay for trips across
RTD's expanding transit system. Because the
agency is opening five additional transit lines
next year, the new fare structure takes into
account the lines and services being added. New
prices for local, regional and airport trips go
into effect Jan. 1.
The new transit system features three travel
zones making it simpler on passengers and many
fares will actually decrease. All active and
frequent riders can review their trip and the
latest structure. For example, the new Day Pass
features unlimited rides on bus and rail for the
price of a round trip if taken within one
service day. The same also applies to the
Regional/Airport Day Pass. Day Passes can be
purchased on buses, at sales outlets and from
ticket-vending machines at rail stations.
The updated fares are the result of a nearly
two-year study that incorporates feedback from
the public, technical analysis, peer reviews and
staff evaluation. Within RTD's
2,340-square-mile, eight-county service area,
the agency currently offers 150 bus routes, six
rail lines and numerous specialty transit
services. In 2016, RTD will add four new rail
lines and the Flatiron Flyer, a bus rapid
transit service. RTD handles nearly 105 million
annual passenger boardings.
Transportation for America reports that the
House and Senate took action to approve the
final five-year, $305 billion Fixing America's
Surface Transportation (FAST) Act transportation
authorization this week, T4America director
James Corless offered this statement:
"We're grateful that Congress finally moved
beyond short-term extensions and passed a
five-year transportation bill with funding to
provide the multi-year certainty states and
cities have been clamoring for to bring their
ambitious plans to life. The bill provides
modest increases in funding for local
communities, includes passenger rail in the
surface authorization for the first time ever -
recognizing its key role in connecting
communities big and small - and makes it easier
for cities and towns to apply for low-cost
federal financing for locally-driven
infrastructure improvements and transit-oriented
development.
"While this new law does make a handful of
notable improvements, the final product misses
the mark on far too many counts and overall
doubles down on a status quo approach to
investing in transportation.
"The majority of our elected representatives,
along with most of the traditional
transportation industry, were all too willing to
pass a bill at almost any cost. Only a handful
of elected leaders were willing to even discuss
raising or indexing the gasoline tax to pay for
the level of investment our country desperately
needs.
"When it comes to policy, this bill falls far
short of the transformational, outcome-based
approach needed to keep our cities and towns
prospering as our nation experiences profound
shifts in demographics, consumer preferences and
technology.
"While states and metropolitan regions will
enjoy the certainty of funding that they've not
had in seven or eight years, they'll be stuck
with yesterday's policies until 2020, and the
tab will be passed on to our children. The FAST
Act represents a major missed opportunity to do
something much better that the country needs and
deserves."
The new residential development at Alameda
Station, known as "Denizen",
held a ribbon cutting ceremony in November with
Director Bill James speaking on behalf of RTD.
Denizen is the first of the TOD Pilot program
projects to complete construction, and was a
joint public-private partnership among D4 Urban,
RTD, City and County of Denver, and Denver Urban
Renewal Authority. Denizen creates 275 new
workforce housing units immediately adjacent to
the station and is the first LEED Platinum
Certified multifamily community in Colorado.
Along with other storm water and street
infrastructure improvements, the completion of
Denizen is the first step in catalyzing
redevelopment of the Broadway Marketplace and
Denver Design District, which, when fully built
out has the potential to create a new transit
oriented community with up to 7,000,000 square
feet of new residential and office development
within ½ mile of Alameda Station.
At I-25/Broadway
Station RTD
has been participating with the City and County
of Denver's study of potential station area
redevelopment, especially in relationship to
other infrastructure improvements proposed for
the area. The purpose of the plan will be to
provide a framework plan, 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. The study is anticipated to
conclude by the end of 2015.
The Downtown Denver Partnership and the City of
Denver are seeking streetscape and traffic
design concepts to incorporate a "festival"
street vision for a 21st
Street/Wynkoop Street Design Plan.
These two thoroughfares terminate at Coors
Field, starting from Cherry Creek in the case of
Wynkoop Street and 20th Avenue with respect to
21st Street. RTD is participating on a
stakeholder steering committee for the project
which is anticipated to finish in early 2016.
RTD has received a Federal Ladders of
Opportunity grant and a state FASTER grant to
fund a capital project to reduce travel time and
increase security and ridership for 15L bus
route along East
Colfax Avenue. 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 at a few
congested locations. The project includes East
Colfax from Broadway east to Potomac (near
I-225).
Central
and Southeast Denver Real Estate
Greystar Planning Union Station Apartments
Source: Denver Cityscape
Greystar Development announced plans for Ascent
Union Station, a 142-unit apartment building at
19th and Wewatta streets near Denver Union
Station in downtown Denver. The 14-story
building would contain about 4,100 square feet
of street level retail space and underground
parking.
Houston Company Planning Downtown Office and
Hotel Towers
Source: Denver Cityscape
The Patrinely Group is planning to develop an
office building and adjacent hotel in downtown
Denver. The Houston-based company will construct
a 32-story, 650,000 square foot office building
at the north corner of 15th and Welton streets,
with construction slated to begin in late 2016.
The second phase of the project, known as Block
162, will include the hotel at the south corner
of California Street and the 16th Street Mall.
White Completes Hyatt Hotels
Source: Denver Urbanism
White Lodging opened its dual-branded Hyatt
House and Hyatt Place hotels in downtown Denver.
The 21-story shared building is located at 14th
Street and Glenarm Place near the Colorado
Convention Center. The Hyatt Place section of
the building contains 248 rooms while the Hyatt
House has 113 rooms. The Hyatt House brand is
designed to accommodate longer-stay guests.
Big Tree Leases Downtown Space
Source: Colorado Real Estate Journal
Big Tree, Inc. leased 12,602 square feet of
office space in the Granite Tower building at
1099 18th Street. The tenant was represented by
Newmark Grubb Knight Frank brokers Nathan
Johnson and Peter Staab. The software company is
relocating from 999 18th Street.
Stonebridge Starts Cherry Creek North Hotel
Source: Denver Cityscape
Stonebridge Company began construction on the
Rollnick Hotel, a 201-room project in Cherry
Creek North. The hotel at 222 Milwaukee Street
will occupy the site of the Rollnick Building,
which is currently being demolished. The eight
story building will sit atop two levels of
underground parking and will have ground level
retail space.
Kennedy-Wilson Buys Uptown Building
Source: CoStar Group
Kennedy-Wilson Properties bought the 17th and
Grant Building at 303 East 17th Avenue in the
Uptown neighborhood east of downtown. The
295,282 square foot building was purchased from
Equity West Investment Partners and Broadreach
Capital Partners for $65.5 million, or about
$222 per square foot. The sellers were
represented by Michael Winn of CBRE,
SmithJones to Develop Capitol Hill Apartments
Source: Denver Urban Review
SmithJones Partners plans to develop 7th and
Grant, a 175-unit apartment building in Capitol
Hill. As the name indicates, the project will
occupy a site at the southeast corner of East
7th Avenue and Grant Street. Construction is
scheduled to begin in early 2016 after several
existing houses on the site have been
demolished.
CDOT Completes West 6th Avenue Construction
Source: Denver Business Journal
The Colorado Department of Transportation
completed construction on a $98 million project
along West 6th Avenue between I-25 and Knox
Court in west Denver. The project involved the
reconstruction of six bridges and construction
of six new ones along the busy freeway. The
project, which was constructed by Edward Kraemer
and Sons, Inc., was completed on budget and
eight months early. In addition to the bridges,
the work included new pedestrian and bicycle
facilities and improvements at Barnum Park East.
Olympus Ventures Purchases Urology Center
Source: Business Denver
Olympus Ventures bought the Urology Center of
Denver for $35,150,000. The 60,000 square foot
medical building is located at 2777 Mile High
Stadium Circle in west Denver and was built in
2006. The seller was TUCC Medical Center Joint
Venture LLC, which had owned the building since
2010.
Union Pacific Closing Denver Repair Shops
Source: Denver Business Journal
Union Pacific Corporation announced that it will
close its locomotive maintenance yard and shops,
eliminating about 200 jobs in Denver. The Burnam
yards and shop are located south of downtown
Denver near West 6th Avenue and I-25. It was
originally built in the 1870s and 1880s as a
facility of the Denver and Rio Grande Western
Railroad, which was later acquired by Union
Pacific. The railroad plans to sell the site,
which is seen as a logical transit-oriented
development location due to the presence of RTD
light rail lines and proximity to downtown
Denver. The railroad cited a decline in demand
for western coal as a reason for cutting back on
locomotive maintenance operations in Denver.
Denver Initiates Arapahoe Square Plan
Source: Denver Post
City and County of Denver planners are beginning
the process of creating a development plan for
the Arapahoe Square neighborhood north of
downtown Denver. The plan will include
recommended zonings for properties in the
neighborhood along with design guidelines for
new development. The neighborhood is generally
bounded by Welton and Lawrence streets and 20th
Street and the Curtis Park neighborhood. The
schedule is for the plan to go before Denver
City Council in mid-2016.
Mixed-Use Project Planned in RiNo
Source: Denver Business Journal
Pathfinder Partners LLC bought the former Gold
Star Sausage Company building at 2800 Walnut
Street in the RiNo neighborhood of north Denver.
The company will convert the building into a
47,326 square foot office and retail project
that will cost about $11 million. Construction
is expected to be completed in the summer of
2016. Trent Rice of NAI Shames Makovsky
represented the buyer in the transaction.
Koelbel Planning Cheesman Park Townhouses
Source: Business Denver
Koelbel and Company is planning to develop a
14-unit townhouse project near Cheesman Park. If
approved by Denver planners the project would
replace the Sewell Child Development Center at
East 14th Avenue and Vine Street. The Sewell
school is moving to the former Denver Waldorf
School campus at East 10th Avenue and Fillmore
Street.
Cherry Creek North Reports on Tax Revenues and
Development
Source: Denver Real Estate Watch
The Cherry Creek North Business Improvement
District released a study of retail sales and
development activity in the commercial district
in east central Denver. According to the report,
Cherry Creek North generated almost $10 million
in retail sales revenue for the City and County
of Denver in 2014. The major revenue sources
were restaurants, lodging and clothing. The
report estimates that about 6,800 people work in
Cherry Creek North.
BMC Names Cherry Creek North Hotel
Published on: 11/17/2015
Source: Denver Urban Review
BMC Investments named its new Cherry Creek North
hotel Halcyon. The 155-room hotel is currently
under construction at 245 Columbine Street and
is scheduled to open in the spring of 2016. Sage
Hospitality will operate the hotel. BMC recently
announced that it would develop a 165-room hotel
adjacent to Halcyon at 240 Josephine Street.
Mental Health Center Opening in Northeast Denver
Source: Business Denver
The Mental Health Center of Denver will open a
new 40,000 square foot medical complex in
northeast Denver in December. The Dahlia Campus
for Health and Well-Being occupies a full city
block at 3401 Eudora Street that was the former
site of the Dahlia Plaza shopping center. The
$15.6 million facility will provide mental
health services, a dental clinic, gardens, a
greenhouse and two schools. It is the Mental
Health Center of Denver's eight campus in the
metro area.
Investor Buys New Sprouts Market
Source: Business Denver
California investor Barrett Watkins bought a
newly opened Sprouts supermarket in south
Denver. The 27,000 square foot store is located
at 197 East Mississippi Avenue in part of the
redeveloped former Gates Rubber Company
property. The developer, Cadence Capital
Investments, sold the building for $13.1
million, or about $485 per square foot. CBRE
brokers Matt Henrichs and Brad Lyons were agents
for the seller.
State Authorizes Funds for National Western
Project
Source: Denver Business Journal
The Colorado Economic Development Commission
voted to authorize $121.5 million to the City
and County of Denver for assistance in
redeveloping the National Western Center on
Brighton Boulevard in north Denver. The project,
which will also be funded by a voter-approved
extension of a Denver hotel room and rental car
tax, will improve the historic facility, add new
buildings, improve drainage, build new public
open spaces and assist in the redevelopment of
adjacent neighborhoods.
MicroStar Moving Headquarters to RiNo
Source: Denver Business Journal
MicroStar Logistics will move its headquarters
to the new Gauge building at 35th and Wazee
streets in the RiNo neighborhood of north
Denver. The 100,000 square foot building is
being constructed by Zeppelin Developments near
the future RTD commuter rail station at 38th and
Blake streets. MicroStar will occupy 13,000
square feet when the company relocates from its
current quarters in Greenwood Village. The firm
manufactures kegs for craft breweries.
Townhomes Planned in Mayfair
Source: Business Denver
DIRC Homes is constructing Mayfair Row, a
14-unit infill townhouse project in east Denver.
The development is located on Fairfax Street
south of East 8th Avenue. Units are expected to
sell for about $600,000 and up, with
construction set for completion in the spring of
2016.
Weber Acquires Bellaire Place East
Source: CoStar Group
The Weber Companies bought the Bellaire Place
East office building in south Denver. The 72,906
square foot building is located at 1780 South
Bellaire Street near the RTD Colorado Center
light rail station. The property was acquired
from Richardson Real Estate Holdings for $8.5
million, or about $117 per square foot. Unique
Properties brokers Justin Herman, Marc Lippitt
and Scott Schwayder were agents for the seller.
Historic Baker Building Sells at Auction
Source: Business Denver
The derelict First Avenue Hotel building in the
Baker neighborhood was sold at auction for
$6,550,000. The historic four-story building is
located at the northwest corner of Broadway and
West 1st Avenue and was constructed in 1905. The
property was purchased at auction in US
Bankruptcy Court by Digital Cowboy LLC, an
entity sponsored by Denver developer Jeff Oberg.
The buyer did not reveal his plans for the
building.
Mountain West Buys Valley Business Center
Source: Colorado Real Estate Journal
An affiliate of Mountain West Industrial
Properties bought Valley Business Center, a
203,232 square foot warehouse park in southwest
Denver. The five-building property is located at
700 West Mississippi Avenue, just west of the
South Platte River. The investment group paid
$17,180,000 for the 32-year old park, or about
$84 per square foot. The seller, Invesco Real
Estate,, was represented by CBRE agents Daniel
Close, Murray Platt and Doug Viseur.
Historic Baker Building Sells at Auction
Source: Business Denver
The derelict First Avenue Hotel building in the
Baker neighborhood was sold at auction for
$6,550,000. The historic four-story building is
located at the northwest corner of Broadway and
West 1st Avenue and was constructed in 1905. The
property was purchased at auction in US
Bankruptcy Court by Digital Cowboy LLC, an
entity sponsored by Denver developer Jeff Oberg.
The buyer did not reveal his plans for the
building.
Link: http://www.businessden.com/2015/12/04/broadways-el-diablo-building-auctioned-off-for-6-6m/
