Transportation
On May 10, nearly 200 federal, state and local
officials joined with the Regional
Transportation District (RTD) and honored guests
to officially break ground on RTD's Southeast
Rail Extension project.
The extension will add 2.3 miles to the existing
19-mile Southeast Rail Line, from Lincoln Avenue
to RidgeGate Parkway in Douglas County. The
construction project will create more than 300
jobs through 2019 while adding three bridges and
three new stations. The new stations will be
located at Sky Ridge Avenue (near the Sky Ridge
Medical Center); the future Lone Tree City
Center; and an end-of-line station at RidgeGate
Parkway with 1,300 parking spaces. All stations
will be within walking distance of more than 500
acres of new mixed-used, commercial and
residential development. The $233.1 million
construction budget includes a $92 million
capital investment grant to RTD from the Federal
Transit Administration.
The Regional Transportation District (RTD)
received official notice that the B
Line from
Denver Union Station to Westminster will be
ready and open for service on July 25, 2016.
This notice came from project concessionaire,
Denver Transit Partners (DTP). The B Line to
Westminster will be the second electric commuter
rail line to operate in Denver-the first being
the University of Colorado A Line to Denver
International Airport, which began service on
April 22. Electric commuter rail vehicles are
faster than light rail, with a top speed of 79
mph versus 55 mph. The vehicles are also larger
and carry more people than light rail
vehicles-200 people at maximum. Commuter rail
vehicles have level boarding at all doors of the
train and have two wheelchair spaces per car.
These trains also have large seats, overhead
storage, luggage towers and bicycle racks. This
segment of the B Line will serve two
stations-Denver's Union Station and the new
Westminster Station located at West 69th Avenue
(future Westminster Station Drive) and Grove
Street. The remaining segment, from south
Westminster to Longmont, will be diesel-powered
commuter rail. Construction of the line from
Westminster to Longmont will begin when funding
becomes available. The B Line to Westminster is
part of the Eagle P3 project, the nation's first
full public-private partnership for transit.
Eagle P3 is a $2.2 billion project, which
includes local RTD taxes combined with a $1.03
billion federal grant and $450 million from DTP,
the project concessionaire. As concessionaire,
DTP will build, operate and maintain the trains
for 34 years.
RTD's Board of Directors has officially named Dave
Genova as
the new General Manager and CEO. Dave has been
successfully leading RTD as the Interim General
Manager and CEO since April, 2015. Prior to
that, he served eight years as the Assistant
General Manager of Safety, Security and
Facilities. He brings extensive leadership
experience, including overseeing the safety
certification for rail openings and the
renovation of Union Station as well as serving
on several national committees. Dave was
selected for the position after an extensive 11
month process, and we congratulate him in this
new leadership role.
Denver is kicking off Denveright
- Your Voice Our Future -
four major citywide planning efforts this month
that will guide the development of the city for
the next twenty years:
- Blueprint Denver (the integrated land use
and transportation plan),
- Denver Moves: Transit (Denver's first-ever
transit plan),
- Denver Moves: Pedestrians and Trails
(updating and going beyond the Pedestrian Master
Plan), and
- Game Plan (Denver's master plan for parks)
Denver Councilwoman Kniech reports that Denver's
first mobile public
restroom launched
as a pilot in Capitol Hill. So far the restroom
has averaged about 50 users per day, with the
overwhelming majority coming from nightlife and
entertainment activities. Next steps include
expanding awareness of the service as warmer
weather approaches, on-going monitoring and
evaluation of the pilot, and exploration of
other public restroom opportunities.
Council Member Kniech also reports that City
Council is tackling a broad array of major
policy initiatives. In March, Council
established a set of policy
priorities for
the coming year, including two that have
long-been on our annual budget priority lists
and the subject of working groups: 1) Mobility
and Transportation and 2) Housing and
Homelessness. Council added a new priority 3)
Economic and Workforce Development, focused on
overcoming persistent economic barriers for
underserved communities and creating more local
hiring on major city projects.
The City and County of Denver held an Affordable
Housing public
meeting on April 26 at East High School
presented by Mayor Hancock and City Council
Members Robin Kniech and Albus Brooks, the
meeting featured a presentation and discussion
on Denver's affordable housing policy proposals,
resources and services. Among the key topics of
discussion were a proposed new, local funding
source to provide at least $150 million over the
first 10 years to support housing
affordability. Announced by Mayor Hancock in
his 2015 inaugural address, the new fund would
allow for the creation, preservation and
rehabilitation of 6,000 affordable housing units
over 10 years. Over the past several months,
city officials - together with housing
advocates, developers, homeless service
providers, community representatives and
industry groups - have been exploring the best
approach for establishing a new, local housing
fund.
Denver City Council Member Kendra Black arranged
a meeting of over 350 people to discuss options
for Wellshire
Golf Course, High Line Canal and Yale Avenue. This
meeting brought together representatives from
Denver Water, Denver Parks & Recreation, the
High Line Canal Conservancy, and Denver Public
Works. More information at:
Future High Line Canal Conservancy events will
be:
- Wed., June 8, 4-8 pm, Aurora Central Library
- Thurs., June 9, 4-8 pm, Goodson Rec Center
- Wed., July 20, 4-8 pm, Eloise May Library
- Thurs., July 9, 4-8 pm, Eisenhower Rec Ctr
- Wed., September 7, Kent Denver School
- Thursday, September 8, time and location TBD
- Wed., October 19, location and time TBD
- Thurs., October 20, Wellshire Inn
Central and Southeast Denver Real Estate
Details Revealed for LoDo Hotel
Source: Denver Cityscape
T2 Hospitality revealed the design and details
for the hotel it is proposing to develop at 16th
and Market streets in LoDo. The as-yet unnamed
hotel will be 12 stories in height and contain
220 rooms. The building will also contain 6,000
square feet of street level retail space and a
59-space garage.
Lucky Strike Expanding Pavilions Space
Source: Denver Post
Lucky Strike Entertainment is expanding its
operations at the Denver Pavilions retail center
on the 16th Street Mall in downtown Denver. The
company currently operates a bowling alley in
the center. The new adjacent facility will be
called FTW and will feature a games arcade and
restaurant in 13,000 square feet.
Bike Facilities Expanded at Union Station
Source: Denver Urbanism
Facilities are being expanded at Denver Union
Station to serve bicyclists. Denver B-Cycle is
adding two new stations containing 51 spaces, in
addition to ten new bicycle racks on Wynkoop
Street. The City and County of Denver recently
completed improved bicycle lanes, sidewalks and
crosswalks on Wynkoop Street at the entrance to
Denver Union Station.
Sage Reveals Details of Dairy Block Hotel
Source: Denver Business Journal
Sage Hospitality announced details for its
planned hotel in the Dairy Block mixed-use
development in LoDo. Dairy Block is being
developed by McWhinney and Grand American, Inc.
on Wazee Street between 18th and 19th streets.
It will include 60,000 square feet of retail
pace, 250,000 square feet of office space and
The Maven, a 172-room boutique hotel by Sage
Hospitality. Dairy Block is scheduled to be
completed in the spring of 2017.
SendGrid Relocating to Denver and Expanding
Source: Denver Post
Email technology firm SendGrid is relocating to
downtown Denver from Boulder. The company leased
52,000 square feet at 1801 California Street and
will move from its current Pearl Street
headquarters in Boulder by the end of 2016.
SendGrid currently employs about 200 people and
the new quarters will ultimately allow an
expansion to about 500 workers.
Unico Completes Block Purchases
Source: Business Denver
Unico completed the purchase of all the
properties on the west side of Platte Street
north of 15th Street in downtown Denver. The
Seattle based firm bought the Big Chief Bottling
Company building at 1537 Platte Street for $5
million, or about $500 per square foot for the
10,000 square foot building. The building was
sold by an investment entity managed by
Christine Lapierre and Louis Pappageorge. Unico
is planning an 82,000 square foot building
nearby on Platte Street but did not reveal any
redevelopment plans for its latest acquisition.
.
California Firm Buys New Downtown Apartments
Source: Denver Business Journal
American Realty Advisors bought Elan Union
Station, a new apartment building in downtown
Denver. The Glendale, California based company
acquired the 314 unit building at 1975 19th
Street from a partnership of Greystar and
Goldman Sachs for an undisclosed price. The
building also contains 38,000 square feet of
street level retail space, mainly occupied by a
King Soopers market. The property was marketed
by HFF.
TIAA Confirms 700 Job Expansion in Denver
Source: Denver Business Journal
TIAA confirmed that it will add about 700 more
employees to its Denver hub over the next eight
years. The New York-based company provides
financial retirement services and currently
employs about 1,500 people at 1670 Broadway in
downtown Denver. TIAA recently renewed its lease
in the downtown building that bears its name,
adding 50,000 square feet and bringing total
occupancy to 350,000 square feet.
Compromise Reached on Uptown Apartment Building
Source: Denver Post
A compromise was reached that will allow
Southern Land Company to develop a 325-unit
apartment building in uptown. The project at 538
East 17th Avenue was controversial because the
original plans would require the demolition of
the historic Uptown Tavern. The agreement
reached between Nashville-based Southern Land
and Historic Denver allows the project to
increase from 315 to 325 units and have ten
floors instead of eight. The enlarged size will
enable to building to sit back from the street,
allowing the Uptown Tavern to remain. The
agreement must be approved by the Denver City
Council.
Federal Boulevard Hotel Under Construction
Source: Business Denver
Colorado Hospitality Services started
construction on a dual-branded hotel in the Sun
Valley neighborhood of west Denver. The 120-room
hotel will feature Mainstay Suites and Comfort
Suites units. The four-story building is located
in the northeast quadrant of Federal Boulevard
and West 6th Avenue.
More Apartments Set for Sloans Lake
Source: Business Denver
A partnership of Peak Development Group and
Slipstream Properties plans to start
construction soon on X at Sloans Lake, a 58 unit
apartment building in west Denver. The five
story building will be located on Xavier Street
north of West Colfax Avenue, several blocks west
of the much larger redevelopment of the former
St. Anthony Hospital location. .
Downtown Building Being Converted to Hotel
Source: Denver Post
AAA Hotel Developers resumed construction on the
conversion of a former downtown office building
into a 111-room hotel. The five story building
at 333 West Colfax Avenue is being expanded by
three floors. Construction, which had been
dormant for several months, is now scheduled for
completion in early 2017. The hotel will be
branded as a Staybridge Suites.
EFG Buys West Denver Apartment Site
Source: Business Denver
EnviroFinance Group completed the assemblage of
almost a city block of land at 4017 West Colfax
Avenue between Quitman and Perry streets in west
Denver. The company, which is the master
redeveloper of the nearby former St. Anthony's
hospital site, expects to partner with the
Denver Housing Authority to construct affordable
housing on the property. No specifics were
released, but the general concept calls for
about 100 apartment units with possible ground
floor retail space.
Argyle Plans Golden Triangle Tower
Source: Denver Cityscape
Argyle Interests filed plans with the City and
County of Denver for a 14-story apartment
building at 1256 Delaware Street in the Golden
Triangle neighborhood. The 176-unit project by
the Austin-based company will also include 2,200
square feet of ground floor retail space. It is
the latest in a series of apartment buildings to
be built or proposed in the neighborhood south
of downtown Denver.
Gaddis Planning Curtis Park Micro Apartments
Source: Business Denver
Gaddis Property Management is planning to
develop a 56 unit apartment building at 3148
Stout Street on the northern edge of Curtis
Park. Units in D-Line would be of the emerging
micro variety, with no on-site parking and sizes
of about 320 square feet. D-Line derives its
name from its proximity to the RTD light rail
station at 30th and Downing streets. Pending
approval by Denver planners construction on
D-Line could begin in early 2017.
Italian Partners Plan Denver Brewery
Source: Business Denver
Two Italian restauranteurs plan to open an
Italian restaurant and brewery in Curtis Park.
Alex Liberati and Francesco Iacovina will occupy
the vacant Golden Bell Press building at 24th
and Champa streets. The brewery will create
Italian grape ales instead of beer made from
grains. In addition to the 36,000 square foot
building the partners plan a 24,000 square foot
outdoor beer garden.
Trammell Crow Plans Arapahoe Square Tower
Source: Denver Infill
Trammell Crow Residential, one of the most
active apartment developers in metro Denver,
submitted plans to the City and County of Denver
for another downtown project. Alexan 20th Street
Station is proposed for a site on the east side
of California Street between 20th and 21st
streets in the Arapahoe Square neighborhood on
the northern edge of downtown. Pending approval
by Denver planners the twelve story building
will contain 354 apartment units. The site is
one block from the RTD Welton Street light rail
line. Construction is scheduled to begin later
this year.
Hotel Planned for RiNo Site
Source: Business Denver
Gravitas Development Group plans to construct a
50-room hotel in the RiNo district north of
downtown. The Ramble Hotel would be located at
the southeast corner of 25th and Larimer
streets. A date for start of construction was
not announced.
Condos to Begin Construction in Curtis Park
Source: Denver Post
Construction is scheduled to begin this summer
on the first phase of Sustainability Park, a
two-block condominium and townhouse project in
the Curtis Park neighborhood. The Denver Housing
Authority sold the site on Lawrence Street
between 25th and 27th streets to Curtis Park
Group, which is affiliated with Westfield
Company. The initial phase will contain 91
condominium units and eight townhouses on the
southern edge of the property. Units are
expected to sell in a range starting in the high
$200,000s.
Climbing Gym Considers RiNo Site
Source: Business Denver
A New York-based climbing gym may open a Denver
facility in RiNo. Brooklyn Boulders reportedly
is considering leasing 34,000 square feet in a
former warehouse at 3201 Walnut Street. The
50,000 square foot building is slated for
renovation into a mixed use project by a group
of developers including Dana Crawford. SVN
Denver Commercial brokers Mike Carnes and John
Sheflin are representing Brooklyn Boulder in
lease negotiations,
IMT Capital Purchases City Park Apartments
Source: Business Denver
IMT Capital bought the Retreat at the Park, a
240-unit apartment property at East 16th Avenue
and Fillmore Street in east central Denver. The
nine-year old community is one block south of
City Park. The purchase price was $70,950,000,
which equates to about $295,000 per unit. The
seller was an entity of the Blackstone Group,
which bought Retreat at the Park in 2014.
Retailers Leasing Cherry Creek East Space
Source: Business Denver
The owner of a remodeled office building in
Cherry Creek East leased all of the ground floor
retail space. Ogilvie Properties is extensively
renovating the 40-year old building at 3300 East
1st Avenue. Upon completion, the building will
have 66,000 square feet of office space and
34,000 square feet of retail space in an
addition facing East 1st Avenue. The retail
space has been preleased to three tenants, the
largest of which is a 27,000 square foot Tru Fit
gymnasium.
BMC Starting Cherry Creek North Hotel
Source: Denver Business Journal
BMC Investments began construction on the Moxy,
a 170 room hotel at 240 Josephine Street in
Cherry Creek North. The Moxy is a new hotel
brand of Marriott International. Construction on
the $35 million project is expected to by
completed in mid-2017. BMC will complete
construction this summer on the Halcyon, a
boutique hotel on Columbine Street adjacent to
the site of the Moxy.
Inspires Buys Colfax Avenue Hotel
Source: Business Denver
Inspire Investment Group acquired the All Inn
Motel, a four-story hotel at East Colfax Avenue
and Milwaukee Street in east central Denver. The
building was purchased for $3,550,000 through a
federal bankruptcy auction. The building will
operate as a hotel while the new owner considers
potential options, including conversion to
apartments or demolition for new development.
Pauls Corporation Buys Cherry Creek Condo Site
Source: Business Denver
The Pauls Corporation confirmed earlier reports
of its plans to develop a 12-story condominium
in Cherry Creek North by buying the proposed
site. The developer acquired a 0.4 acre parcel
at 149 Steele Street from First Bank for $3.8
million, or about $216 per square foot. The
building is expected to contain 155 units, with
presales beginning in mid-2017.
Nest Home Planning Cherry Creek East Condos
Source: Business Denver
Nest Home Company plans to develop The Cassidy,
a 37-unit condominium project in Cherry Creek
East. The development will ocuppy a 0.72 acre
site at 109 to 147 South Harrison Street,
replacing some older apartment buildings. Sale
prices at The Csssidy are expected to range from
the high $400,000s to the mid-$600,000s.
Completion is scheduled for late 2017. Nest
Homes is currently constructing a 15-unit
townhouse project on South Harrison Street at
East Cedar Avenue.
Zeppelin Buys More RiNo Land
Source: Denver Business Journal
Zeppelin Development acquired another 5.5 acres
in River North, allowing the company to expand
its successful Taxi mixed-use development in
north Denver. With the purchase of the for Ready
Mix Concrete property Taxi will occupy the
entire west side of Ringsby Court between 31st
and 38th streets. Details were not revealed
about what Zeppelin plans to develop on the new
acreage but it is likely to include additional
housing and possibly retail space.
Precision Expands North Denver Space
Source: Colorado Real Estate Journal
Precision Building Systems doubled the size of
its manufacturing facility in north Denver. The
company makes building components for
residential construction. Previously the firm
occupied 100,000 square feet in the building at
445 West 53rd Place but has since expanded to
200,972 square feet. Cushman and Wakefield
brokers Alex Rhodes, Tyler Smith and Aaron
Valdez represented the tenant.
Natural Grocers to Open RiNo Store
Source: Business Denver
Natural Grocers will open a grocery store in
RiNo. The 15,000 square foot store will be
developed by Equity Ventures Commercial
Development and will be located at the southwest
corner of 38th Street and Brighton Boulevard.
The grocer expects to open the store in 2017.
Denver Building RiNo Festival Street
The City and County of Denver will restore some
of the vacated streets in a section of RiNo
adjacent to the planned River North Park. The
restoration of Delgany Street between 33rd and
35th streets will be constructed in a format
that will allow it to be used for neighborhood
festivals and events. The plan also reconstructs
33rd Street from Arkins Court. Some of the
streets in the RiNo neighborhood between
Brighton Boulevard and the South Platte River
were either never built as part of the city's
standard and historic grid pattern or were
vacated for railroad construction in the 1870s
and 1880s.
Luxury Townhomes Planned in RiNo
Source: Denver Post
Iselo Investment Partners plans to develop River
Row Homes, a 23-unit townhouse project in RiNo.
The townhouses are the initial phase of what
will be a 4.5 acre development of mixed-used
residential units at 33rd Street and Arkins
Court, on the east bank of the South Platte
River. The townhouses will be adjacent to the
planned River North Park, Units in the initial
phase will sell for approximately $1.1 to $1.5
million.
Catalyst HTI Announces Initial Tenants
Source: Denver Real Estate Watch
Construction will start soon on the first phase
of Catalyst HTI, a 300,000 square foot health
care-oriented office and coworking campus in the
RiNo neighborhood. The project will occupy a
two-acre site at 35th Street and Brighton
Boulevard and will be developed by Koelbel and
Company. The initial phase will contain 180,000
square feet. Signed tenants include the
University of Colorado Anschutz Medical School,
the American Diabetes Assocation and Terumo BCT.
The first phase is expected to open in early
2018.
Consolidated Enlarges Route 40 Project
Source: Denver Cityscape
Consolidated Investment Group expanded the scope
of its proposed Route 40 project in Capitol
Hill. The development, originally announced as a
140 unit addition to an existing 28 unit
apartment building, will now contain a total of
185 apartment units, 24,000 square feet of
retail space and 27,500 square feet of office
space. The seven-story building will be located
on the south side of East Colfax Avenue between
Corona and Downing streets. Construction is
scheduled to begin in late 2016.
Investors Acquire Southeast Denver Building
Source: Colorado Real Estate Journal
Rajiv Bansal and Sirisha Dinavahi bought 5800
East Evans Avenue, a 12,583 square foot office
building in southeast Denver. Cornerstone 5800
LLC sold the 47-year old property for
$1,280,000, or about $101 per square foot.
NavPoint Real Estate Group brokers Matt Call,
Matt Kulbe and JohnWitt represented the seller
while Arend Accola of MRAKA Compass Realty was
agent for the buyer.
Landscape Firm Purchases Former Church
Source: Colorado Real Estate Journal
Lifescape Colorado acquired a former church in
south Denver and will relocate its offices and
storage yard to the site at 445 South Platte
River Drive. The company provides landscaping
services to clients. The 3.4 acre property
contains a former 59,149 square foot church.
Lifescape paid $2,880,000 for the property to
Red Rocks Community Church, which was
represented by CBRE brokers Marty Knape, Andrew
Lagerborg and Tom Mathews.
