Transportation
As we look forward to the disruption of
transportation that will result from
mobility on demand using vehicles without
operators, take a look at the last
disruption of transportation when Henry
Ford introduced car manufacturing in the
good old days, no power tools, no robots,
no hard hats (though lots of soft caps) no
safety glasses ... just a lot of jobs.
Earlier this month, RTD Board Chairman Tom
Tobisassen announced that the G
Line from
Union Station through Arvada and Wheat
Ridge, and the R
Line through
Aurora between I-225 and Parker Road to
I-70 and Peoria, will not open this year
as scheduled. Due to continuing software
problems that control crossing gates, the
Federal Railroad Administration said it
would not allow testing to continue on the
G Line until the issue is corrected on the
University of Colorado A and B lines.
Tobisassen said RTD still needs to conduct
45 days of testing and approvals on the University
of Colorado A and B Lines, which
pushed the opening timetable into 2017.
Meanwhile, due to a faulty computer
circuit board on the R Line's electronic
system, crews were waiting on a
replacement from Switzerland before it can
be installed and tested. In October, the
Federal Railroad Administration (FRA)
granted the Regional Transportation
District (RTD) and its contract builder
and operator Denver Transit Partners (DTP)
a 90-day extension of their waiver, which
allows the University of Colorado A and B
lines to continue operations. The waiver
is valid through Feb. 4, 2017.
Since the University of Colorado A Line
opened April 22, grade-crossing gate times
for motorists and pedestrians have not yet
reached a level of acceptable consistency.
Under the waiver, DTP has paid for
flaggers at each crossing to ensure that
motorists and pedestrians can safely cross
the tracks at train crossings.
RTD General Manager and CEO Dave Genova
said, "We greatly appreciate the FRA
granting the waiver extension, which is
the direct result of the excellent working
relationship between FRA, RTD and DTP. The
University of Colorado A Line and the B
Line trains have and will continue to
operate safely while the remaining
crossing issues are being addressed. We
also appreciate that our passengers have
continued to embrace our commuter rail
service, as we are already exceeding our
ridership projections for the end of the
first year of operation for both lines."
Under the waiver extension, FRA noted that
DTP must implement the items contained in
the plan that was presented to FRA staff
Oct. 28 in Washington, D.C. As a result,
RTD and DTP are holding twice weekly
progress meetings with the FRA Region 6
staff and will schedule monthly progress
meetings with the FRA in Washington, DC.
FRA Region 6 is headquartered in Kansas
City, MO and governs Colorado, Iowa,
Kansas, Missouri, Nebraska, Southeast
Wyoming and Southern Illinois.
The University of Colorado A Line operates
commuter rail service between Union
Station and Denver International Airport.
Ridership on the line is averaging 18,800
passengers per weekday, which has exceeded
first-year-end projections of 18,600
passengers. The B Line also offers
commuter rail service between Union
Station and Westminster. This line carries
1,480 passengers daily, well ahead of the
first-year-end projection of 800
passengers.
Genova said the daily average on-time
performance is 87.3 percent. "That is not
good enough. We want to be at a minimum of
90 percent or better."
In addition, the University of Colorado A
Line is operating a "positive train
control" (PTC) system-a safety system
mandated by Congress to be installed on
all commuter rail systems by 2018. RTD is
the first transit agency to install PTC on
a new commuter rail line from the ground
up.
While light rail trains are generally
quiet-running, they are sounding horns at
more than a dozen gated crossings in the
newly constructed 10.5-mile stretch of the RTD
R-Line rail
that runs from Nine Mile Station to Peoria
Station through Aurora and Denver.
RTD Design Manager Paul von Fay said,
"Train horns will sound at all gated
crossings during simulated service, which
will take place prior to opening of the
line." He explained that the Public
Utility Commission (PUC) has jurisdiction
over all light rail crossings, whether
they are at-grade or grade separated.
"Their priority is the safety of the grade
crossings." Out of 29 crossings on the R
Line between Nine Mile Station and Peoria
Station, 13 are gated. Some intersections
have flashing lights and railroad bells on
the crossing gates, while crossings
intersect with traffic signals do not.
The sound horns make on a light rail train
are in a "long, long, short, long"
pattern. RTD's standard operating
procedures require trains to sound horns
at all gated crossings. Also, RTD has
requested modifications from the PUC in
some areas in order to mitigate noise
impacts for residents of nearby
apartments. At the East Alameda Avenue
and South Sable Boulevard intersection,
"wayside horns" will be used instead of
the regular train horn. A wayside horn is
mounted on a pole and aimed at traffic as
a noise mitigation measure.
November 17, 2016 marked RTD's tenth
anniversary of the Southeast
Light Rail that
extended light rail from I-25 & Broadway
south to Lincoln Station and east to Nine
Mile Station. The 19 mile rail line
provides service to an estimated 48,000
passengers daily on the E, F, and H lines,
and offers more than 7,000 parking spaces
at 13 rail stations and Park-n-Rides.
The Southeast Light Rail Line, which
opened to great fanfare Nov. 17, 2006, is
celebrating its 10th anniversary. To date,
this is one of RTD's busiest light rail
corridors with three lines, E, F and H,
which average more than 47,900 passengers
weekly. Today, the southeast corridor
continues to thrive as construction of a
2.3-mile extension will expand the system
from its current terminus at Lincoln
Avenue to RidgeGate Parkway.
Planning for the southwest corridor
started in 1995 and was later dubbed the
Transportation Expansion (T-REX) Project.
The project's aim was to improve mobility
and relieve traffic congestion in metro
Denver.
The T-REX Project was a $1.67 billion
highway expansion and light rail project.
In addition to widening I-25 and I-225 and
building a light rail transit line, T-REX
built several bridges and interchanges,
improved drainage, enhanced bicycle and
pedestrian access, and provided
transportation management elements.
The Elati Light Rail Maintenance Facility,
in Englewood, was completed in 2004 to
serve the corridor with communications,
control system, and service for the light
rail vehicles. In May 2016, RTD broke
ground on the Southeast Rail Extension
that will expand service to RidgeGate
Parkway in Lone Tree. The Southeast Rail
Extension is 2.3 miles of new light rail
track that will open in 2019 and add three
new stations, including a 1,300 space
Park-n-Ride facility at RidgeGate. The
extension will transport residents and
workers from the new RidgeGate Station on
the new R Line north through Aurora to
Peoria Station and connect to the
University of Colorado A Line to Denver
International Airport; to Union Station
via the E light rail line; and to 18th and
California in downtown Denver on the F
line. Southeast Corridor by the numbers:
- 19 miles of light rail
- 13 light rail stations
- 11 Park-n-Rides
- 7,000+ parking spaces
- 20 trains, 68 cars
- 47,944 weekly ridership
The award of the Travelport Project of the
Year went to RTD's University of Colorado
A Line at the Global AirRail Awards held
in Helsinki, Finland. According to the
Global AirRail website, the award is
designed to recognize air-rail
integration, vision and longevity of the
project, innovation and use of modern
technologies, commitment to the
environment and sustainability, benefits
to the community and business, and
financial benefits to the community.
The University of Colorado A Line is part
of the Eagle P3 project, the nation's
first successful public-private
partnership for transit. "The new air-rail
link shows that a project can still be
delivered when public funding is not
forthcoming," said one of the judges.
"Hopefully this project will be an example
to other cities with remote airports."
The University of Colorado A Line was also
recognized for benefiting the community by
providing well-paying jobs and being the
first commuter line in the country to
implement Positive Train Control.
The Downtown Denver Partnership reports
that Denver Public Works, with support
from the Downtown Denver Business
Improvement District and Downtown Tax
Increment Financing Program funds
distributed by the Denver Urban Renewal
Authority (DURA), has completed the
installation of 187 new pedestrian lights
on the 16th Street Mall! The new LED
lights distribute light more uniformly
across the Mall, especially on sidewalks,
and create a more inviting, safe space for
everyone to enjoy, while also reducing
energy cost and usage.
Real Estate
Denver residents got an inside look at how
city planning works when Denver Community
Planning and Development hosted the Citizens'
Planning Academy. Hosted
in partnership with Inter-Neighborhood
Cooperation (INC), the free, three-part
Citizens' Planning Academy curriculum gave
30 participants insight into the key
aspects of citywide plans, neighborhood
plans and zoning. Thanks to Denver8 TV,
now you can view academy classes online,
anytime!
The Denver Zoning Code provides an exemption
from off-street parking requirements for
lots 6,250 square feet or smaller in
mixed-use commercial zoning districts. The
intent of the small lot parking exemption
is to encourage small lot reinvestment and
adaptive reuse of buildings. City Council
imposed a moratorium on the use of this
exemption until March 31, 2017. A
steering committee of 14 community members
and industry professionals convened by
Councilman Albus Brooks met in late 2016
in open meetings to develop a code
amendment. The current proposal takes into
consideration existing buildings and
height of new buildings. The final meeting
was December 15. Learn more at:
This fall, Mayor Michael B. Hancock signed
a bill creating a dedicated
fund to support affordable housing in
Denver. It is funded in part by a fee on
new development that takes effect Jan. 1,
2017. The affordable housing fee will
range from $0.40 to $1.70 per square foot,
depending on the type of development
proposed. It only applies to the
construction of new square footage,
excluding parking. It does not apply to
zoning or trade-specific permits, or small
additions to existing single-family/duplex
buildings.
Denver City Council Member Mary Beth
Susman reports that operators of short-term
rentals in
the City and County of Denver have until
December 31 to become licensed before hard
enforcement begins in January. The STR
license is offered exclusively online,
saving hosts a trip downtown to the city's
business licensing counter. The
application is available at:
The City and County of Denver permits
hosts with valid licenses to offer STRs in
their primary residences. STRs are rentals
of residential property for fewer than 30
days at a time. Operators must obtain a
Denver Lodger's Tax ID number and remit
lodger's taxes to the city. Fines for
operating without a STR license, as well
as for violating any requirement of the
ordinance, can be up to $999 per incident.
Stoltz Purchases LoDo Buildings
Source: Business Denver
Stoltz Real Estate Partners bought two
historic buildings in LoDo. The
Pennsylvania-based investment company
purchased the Wazee Exchange at 1900 Wazee
Street and the Blake Street Terrace at
1860 Blake Street. The two buildings, both
constructed as warehouses and later
converted to office space, contained a
total of 151,000 square feet. The seller
was MAV Development. Stoltz paid $44.2
million for the properties, or about $292
per square foot.
BP to Open Division Headquarters in Denver
Source: Denver Business Journal
British Petroleum plans to open a US
divisional headquarters in Denver,
creating about 200 jobs. The oil and gas
company leased 86,000 square feet in the
new Riverview Building, currently under
construction at 1700 Platte Street. The
office will open in early 2018, with some
employees relocating to Denver from
Houston.
Kroenke Purchases Writer Square
Source: Business Denver
An affiliate of Kronke Sports and
Entertainment bought Writer Square, an
office and retail complex in downtown
Denver. Writer Square contains about
119,000 square feet of office space and
59,000 square feet of retail. The property
occupies most of the block bounded by
15th, 16th, Larimer and Lawrence streets.
It was acquired from a partnership of
Unico Properties and LaSalle Investment
Management for $96 million, or about $539
per square foot. CBRE brokers Geoff Baukol,
Tim Richey and Mike Winn were listing
agents for the seller.
Boston Firm Acquires Dominion Towers
Source: Denver Business Journal
Franklin Street Properties Corporation
bought Dominion Towers, a 571,468 office
property at 600 17th Street in downtown
Denver. The buyer, based in suburban
Boston, paid Beacon Capital Partners $154
million for the property, which contains
19 and 28 story towers. The purchase price
equates to about $269 per square foot.
Dominion Towers is the third downtown
Denver office property acquired by
Franklin Street Properties.
New York Hotel Firm Buys Former Cathedral
School
Source: Business Denver
An affiliate of New York hotel developer
GFI Capital Resources Group Inc. bought
the former Cathedral High School campus at
East 19th Avenue and Grant Street. Rafmo
LLC paid a group of investors headed by
Grant Barnhill $6,860,000 for the
property. The historic school was built in
1921 by the Catholic Archdiocese of Denver
and closed in 1982. The buyer did not
disclose plans for the property.
Broncos May Develop Mixed-Use District
Source: Denver Business Journal
The Denver Broncos football team may
develop a mixed-use commercial, retail and
residential entertainment district south
of Mile High Stadium. A statement
accompanying a $30 million US grant for
the redevelopment of the Sun Valley
neighborhood included a mention of the
$351 million project. The district would
be located south of West Colfax Avenue
between Federal Boulevard and the South
Platte River. No details were revealed
about the project.
Sun Valley Gets US Housing Grant
Source: Denver Business Journal
The US Department of Housing and Urban
Development approved a $30 million grant
to the City and County of Denver for the
redevelopment of the Sun Valley
neighborhood. The federal grant will
assist with plans to develop about 750
units of mixed-income housing. Sun Valley
is one of Denver's poorest neighborhoods.
It is generally bounded by West 6th
Avenue, Federal Boulevard, West Colfax
Avenue and the South Platte River. RTD's
West light rail lines serve the
neighborhood with a station at Decatur
Street.
Zuni Capital Acquires Santa Fe Drive
Building
Source: Business Denver
Zuni Capital Management LLC bought 574
Santa Fe Drive from Nadine Lange for
$4,130,000, or about $258 per square foot.
The formerly derelict 16,000 square foot
building was renovated and served until
recently as the headquarters of Billtrust,
which relocated its offices. The two-story
building was constructed in 1911.
Denver Art Museum Gets $25 Million
Donation
Source: Business Denver
The Denver Art Museum received a $25
million donation from J. Landis and Sharon
Martin. The funds will help in the
renovation plans for the North building on
Civic Center Park at West 14th Avenue and
Bannock Street. The building will be
renamed in honor of museum chairman J.
Landis Martin. The overall cost of the
renovation and addition to the original
museum building will be about $150
million.
Moonstar Plans Golden Triangle Townhouses
Source: Business Denver
Moonstar Investments plans to develop 21
townhouses in the Golden Triangle
neighborhood south of downtown. The
company will build 15 units at 1010 Acoma
Street and six townhouses across West 10th
Avenue at 990 Acoma Street. Sale prices
are expected to range from about $600,000
to $1.1 million. Construction is scheduled
to begin shortly.
BMC Planning Cherry Creek North Building
Source: Business Denver
BMC Investments plans to develop a $37.5
million, eight story office building in
the Cherry Creek North neighborhood. The
company, in partnership with Bow River
Capital, acquired the property at the
northwest corner of East 2nd Avenue and
Detroit Street. Demolition on the existing
small building on the site is scheduled to
begin in August of 2017 with completion of
the new building in late 2018. The
building is planned for 70,000 square feet
of office space and 5,000 square feet of
ground level retail space.
Land Assembled for RiNo Project
Source: Business Denver
Tributary Real Estate is acquiring most of
a city block in RiNo for a mixed-use
development. The site is generally bounded
by 37th, 38th, Wazee and Wynkoop streets,
adjacent to the RTD commuter rail station
at 38th and Blake streets. The property
contains about 4.5 acres. The company's
principles, Ryan Arnold and Bill Parkhill,
are considering options for what the
project will include, but a mix of
residential, office and hotel uses is
expected.
US to Investigate I-70 Construction Plans
Source: Denver Post
The US Department of Transportation
accepted the filing of a lawsuit against
the reconstruction of I-70 in north
Denver. The suit was filed by Earthjustice
on behalf of residents in the Elyria and
Swansea neighborhoods and the Colorado
Latino Forum, alleging that the Colorado
Department of Transportation failed to
consider options to the reconstruction,
including moving I-70 to the existing
I-270 and I-76 routes. CDOT plans to
continue planning for the $1.2 billion
project until a decision is made by the US
DOT or the courts.
Denver Obtains Funding for York Street
Bridge
Source: James Real Estate Services
The City and County of Denver obtained a
$2.5 million grant to help fund the
construction of a bridge at York Street
and East 47th Avenue. York Street traffic
is often blocked by trains, including
those making slow switching movements. The
railroad tracks also divide the Elyria and
Swansea neighborhoods in north Denver. The
project, which also includes improved
sidewalk and bicycle lane connections,
will ultimately cost about $9 to $11
million, including the grant from the
Colorado Department of Transportation,
Self-Storage Building Planned in
Globeville
Source: Business Denver
The William Warren Group is planning to
build an 80,000 square foot self-storage
warehouse in the Globeville neighborhood
of north Denver. The company purchased a
site in the southwest quadrant of
Washington Street and I-70 on which it
plans to construct the StorQuest building,
which will contain about 900 individual
storage units. Construction is scheduled
to begin in early 2017.
AMLI Plans Denargo Apartments
Source: Business Denver
AMLI Residential filed plans with the City
and County of Denver for AMLI Denargo, a
390-unit apartment project in the RiNo
neighborhood of north Denver. The project
would be located on a four acre site at
the southwest corner of Denargo Street and
Arkins Court.
Leasing Company Buys Vasquez Boulevard
Building
Source: Colorado Real Estate Journal
J and L Leasing Company bought 5164
Vasquez Boulevard, a 44,000 square foot
industrial building in north Denver. The
company paid $3,950,000 for the property,
which was owned by Rush Truck Centers. The
buyer was represented by NAI Shames
Makovsky brokers Drew Hill, Paul Kahn and
Pete Wycoff, while Mitch Zazt of JLL was
agent for the seller.
ProLogis Plans North Denver Industrial
Park
Source: Denver Business Journal
ProLogis, Inc. plans to develop a 60-acre
industrial park in north Denver. The
company did not reveal how many square
feet of building space will be developed
on the site at 6030 Washington Street, or
the details of the transaction, which was
handled by Cushman and Wakefield. ProLogis
is one of Denver's most active industrial
developers.
Greystar Plans East Denver Building
Source: Denver Cityscape
Greystar Development plans to construct
Overture 9CO, a 216-unit apartment
building at East 9th Avenue and Ash Street
in east Denver. The 9-story building will
be part of the redevelopment of the former
University of Colorado medical center.
Bank Sells Locust Street Building
Source: Colorado Real Estate Journal
Cache Bank and Trust sold 2755 South
Locust Street in southeast Denver. The
38,793 square foot building was acquired
by 2755 S. Locust LLC for $1,760,000, or
about $45 per square foot. Eric Gold of
Sheldon-Gold Realty was agent for the
seller while David Blackwood of Your
Castle Real Estate represented the buyer.
Denver Starts Construction on Levitt
Pavilion
Source: Denver Post
The City and County of Denver began
construction on the Levitt Pavilion, a
$4.8 million outdoor entertainment and
performance venue in southwest Denver. The
pavilion is located in Ruby Hill Park at
West Florida Avenue and South Platte River
Road. It will provide about fifty annual
free shows and programs of various types.
The pavilion is part of a renovation of
the park, which is the largest in
southwest Denver.
Self Storage Complex Planned on Leetsdale
Drive
Source: Business Denver
Focus Development Group submitted plans to
the City and County of Denver for a
143,000 square foot self-storage complex
at the southwest corner of Leetsdale Drive
and South Holly Street in southeast
Denver. The Greenbox project would replace
the vacant Southern Foods Group plant.
Focus Property Group bought the 4.4 acre
site last year for $3,950,000, or about
$897,000 per acre or $20 per square foot.
Bed Bath and Beyond Moving to Glendale
Source: Business Denver
Bed Bath and Beyond is relocating its
store in the Cherry Creek shopping center
to Glendale. The home good retailer leased
44,000 square feet in the former Sports
Authority space at 370 South Colorado
Boulevard. The store's current location
is on the west end of the Cherry Creek
shopping center near the intersection of
East 1st Avenue and University Boulevard.
The move will occur in late 2017.
Grand Peaks Sells East Denver Apartments
Source: Colorado Real Estate Journal
Grand Peaks sold Glenbrook, a 252 unit
apartment community in east Denver. The
31-year old community at 9999 East Yale
Avenue was acquired by Griffis/Blessing
for $33.4 million, or about $132,000 per
unit. The listing agents for Grand Peaks
were ARA brokers Doug Andrews, Jeff Hawks,
Terrance Hunt and Shane Ozment.
