Transportation
First, save February 23rd for The
Road Ahead 2017 - Mobility On-Demand: Go Your Own
Way. The annual event produced by
Transportation Solutions combines important
social, economic, and ongoing transit issues to
seek out mutually beneficial solutions.
The proliferation of mobile technology has
awakened interest in demand-responsive
transportation alternatives. On-demand mobility is
poised to better meet personal mobility needs.
The Road Ahead attracts elected officials, policy
makers, private developers, and transportation
industry leaders with a passion for accessing the
benefits of transit oriented development.
WHAT: The Road Ahead 2017: Mobility On-Demand. The
13th annual seminar featuring a keynote panel and
a panel discussion.
WHO: Over 300 attendees including local, state and
federal government representatives, and private
sector developers and business leaders.
WHEN: February 23, 2017 - 7:30-11:30 AM
WHERE: University of Denver - Driscoll Ballroom
At the end of 2016 Bill
James completed
two terms on the Board
of Directors of the Regional Transportation
District. Bill is pleased to hand the
portfolio of RTD District A to Kate
Williams and
will continue as Chair of the Board of Transportation
Solutions. Transportation Solutions
convenes and catalyzes businesses, government, and
community entities, through partnerships, policy,
and programs to enhance quality of life and
economic vitality.
As we transition to the new year Nate
Curry, Senior Manager, Public Relations at RTD prepared
an excellent retrospective photo essay of RTD
- 2016 A Look Back available
at:
RTD reports that the metro area ranks among the
nation's most livable communities, but also one of
the most congested. As our communities continue to
grow and develop, our next priority is to address
transportation needs along East
Colfax Avenue. With grant funds from the
FTA, RTD plans to make improvements at route 15L
stops between Broadway and I-225. The upgrades
include security cameras, improved lighting, bus
shelters, transit signal priority, bypass lanes,
and bus bulbs in key locations along the corridor,
one of the busiest in the RTD system to improve
the rider experience. Implementation is
anticipated to begin later this year.
Inter-Neighborhood Cooperation has arranged with
RTD project management for two tours of the
Civic
Center Station construction
project now that demolition is complete, on Friday
January 27th at 11:00 AM and noon. The tour will
include a visit to the construction trailer to see
the plans for the new Station and discuss the
design and construction phasing. INC has been
asked to limit each group to ten people, to ensure
safety - first-served by email - write
transportation@denverinc.org and
indicate whether you would like to join the 11 AM
or Noon tour. As the project progresses INC will
schedule additional tours.
Subways and Pods: What Denver's Transit
System Could Have Been
Source: Confluence Denver
"What if, instead of light rail cars clanging
alongside downtown traffic, Denver's trains
burrowed underground? Or if, instead of trains,
Denver had a network of tracks elevated on stilts
throughout the city that flung personal pods from
neighborhood to neighborhood like a kid's slot car
racetrack? At one point in Denver's history,
these were serious alternatives to the transit
system we know today. The Regional Transportation
District (RTD) and city officials flirted with
this Jetsons-esque technology -- a "personal rapid
transit" (PRT) system -- in the 1970s. When that
didn't pan out, the agency considered building a
subway downtown."
If you are interested in the long term history of
RTD prior to the development of FasTracks, in 1995 Bill
Van Meter prepared RTD
Rapid Transit Planning History from
1973 to 1993 available below. Bill is currently
Assistant General Manager, Planning and
Development at RTD.
The High Cost of Keeping Pretty, Pricey
"Pavers" on the 16th Street Mall
Source: StreetsBlog
"Should RTD continue spending big bucks to
maintain the aesthetically pleasing but
functionally flawed surface of the transitway on
the 16th Street Mall? Nostalgia says yes, but
common sense says no...It's not that public art
doesn't have a place on the 16th Street Mall. It's
just that people don't get much function out of
these pavers, and RTD would be doing the public a
service by allocating its scarce resources to
useful amenities."
A new feature of Cherry Creek Perspective
is links to articles in local and national
publications about transportation and real
estate. These articles are a sample of articles
found in the LinkedIn Group managed by Bill James
called Real Estate and Transportation at:
If you are active in LinkedIn, feel free to join
that group.
Economists pan infrastructure plan
championed by Trump nominees
Source: Washington Post
"Yet Americans apparently don't want to pay bridge
and transportation tolls for private
infrastructure investors via tax breaks as Ross
and Navarro suggest, according to a Washington
Post-ABC News poll conducted Jan. 12 to 15. The
survey showed that 66 percent opposed such a plan
and only 29 percent supported it. While
Republicans were more favorable, at least half of
each group, Republicans, Democrats and
independents, opposed the idea. The poll was a
random national sample of 1,005 adults. The
question didn't mention Trump, Ross or Navarro."
RoadX Program Paves the Way for Smarter
Mobility
Source: Engineering News Record
"Dubbed RoadX, it seeks to revolutionize
transportation systems and implement a slew of
bold mobility concepts within the next 10 years.
CDOT says all of that can happen by investing in
innovative technologies and creating industry
partnerships that will result in crash-free travel
with fewer delays...RoadX recently partnered with
Otto of Uber to complete the world's first
commercial delivery via a self-driving truck,
which picked up a load of beer at Anheuser-Busch
in Fort Collins and drove it south to Colorado
Springs. A driver monitored the experiment from
the truck's sleeper cab. "
These New Apartments Come With A Shared
Car
Source: fastcoexist.com
"But apart from being a perk, the program could be
a model to widen access to mobility services,
reduce the need for mandatory parking spaces in
new developments, and take pressure off public
transit, according to Lubinsky. "There are
locations where developers are looking to reduce
their parking requirements and increasingly we're
seeing car-share spaces as a negotiating device
[in planning discussions]. This is a reason for
policy-makers to reduce parking requirements," he
says."
Cherry Creek
mall to charge for parking starting in January
Source: Denver Post
"The center's lots are heavily used by customers,
but also by those not shopping at the center,"
Cherry Creek Shopping Center general manager Nick
LeMasters said in a statement.
A Silver-Linings Playbook for Cherry Creek
Mall Smart Parking
Source: Cherry Creek North Neighborhood
Association
"An optional feature will even show the location
of the parked car. Patrons will have reasonable
time (to be announced) to reach their car and
leave. When a ticket has been processed, another
"eye" at each exit will recognize the license
plate as the car approaches, and the guard arm
will automatically open without the insertion of a
ticket, speeding exit. Want more? Brio and Elway's,
the AMC Movie Theaters, The Container Store and
Boulder Running Company have already announced
they will validate. Other retailers may come on
board."
More about parking at the Cherry
Creek Shopping Center is
on the mall's website at:
In response, the Cherry
Creek North Business Improvement District (BID)
informs visitors about the multiple parking
options available in Cherry Creek North, and
announces new parking and ride-sharing promotions
available in CCN.
Eight Public Parking Garages in Cherry Creek North
offer $5 flat rate parking on weekends (all day)
and weeknights beginning at 5:00pm.
500+ on-street parking meters, managed by the City
of Denver, are available for $1 per hour for up to
three hours, Monday - Saturday. These meters are
free on Sundays and holidays.
500 retail customer parking spaces are available
in the BID for free to customers of specific
businesses.
For those that like to plan ahead, Cherry Creek
North BID has partnered with SP+ to offer
first-time Parkmobile users a $1 discount when
they use the app to reserve and prepay for parking
in a Parkmobile garage. Parkmobile details
available here.
Cherry Creek North BID has partnered with Lyft to
offer 20% off a ride to or from Cherry Creek North
to new and existing users through February 16.
More about parking in Cherry Creek North at:
Automakers Prepare for an America That's
Over the Whole Car Thing
Source: New York Times
"In many ways, the industry's race to solve the
last-mile challenge involves the development of
self-driving vehicles, an effort involving various
carmakers, technology companies and start-up
firms...Automakers are generally betting that
sales of vehicles to fleet services will offset
any decline in sales to individual consumers.
Boston Consulting Group predicts that 44,000 cars
will be sold to ride-sharing fleets in North
America in 2021, more than making up for an
expected net decline in consumer sales of about
8,000 vehicles."
Real Estate
Denver City Council Member Mary Beth
Susman reports
that starting in 2015, The Urban Drainage Flood
Control District (UDFCD), Denver Parks and
Recreation and Denver Wastewater Management
partnered to restore Westerly Creek from New
Freedom Park at 13th and Xenia to 11th and Willow
Street. The primary goal for the project is to
re-establish a healthy stream channel with
wildlife habitat, wetlands, and a functioning
floodplain. Based on the community input received,
the project will:
Re-align the trail for safe access
Develop a water crossing at New Freedom Park
Add sod near the soccer field
In mid-November, 2016, construction activities
began and is anticipated to be completed in spring
2017.
Council Member Susman also reports that Denver
residents, community groups, and city leaders have
been beating a steady drum for more neighborhood
planning across the city, and Community Planning
and Development is ready to deliver. City planners
rolled out the Neighborhood Planning Initiative (NPI)
- a new commitment by the City and County of
Denver to provide area plans for every
neighborhood in the city. Currently, only about 20
percent of Denver has an up-to-date area plan. The
rest of the city either has a plan that predates
2002's Blueprint Denver land use and
transportation plan, or has no plan at all. The
northeast part of Susman's district is first on
the list for the neighborhood planning initiative.
The new approach to neighborhood planning, crafted
with community input, will make a more efficient
use of available resources to achieve better, more
equitable area plan coverage for all of Denver in
less time (10 to 14 years) than the current
approach would do (about 80 years).
Operators of Short-Term Rentals in the City and
County of Denver had until December 31 to become
licensed before hard enforcement began in January.
The City 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. Fines for operating without a STR
license, as well as for violating any requirement
of the ordinance, can be up to $999 per incident.
- Hotel Indigo Opening on Wewatta Street
- Source: Confluence Denver
- The 180-room Hotel Indigo opened at 1801
Wewatta Street near Denver Union Station. The
hotel is part of a mixed-use development being
constructed by Portman Holdings of Atlanta.
InterContinental Hotels Group will operate the
hotel along with Hospitality Ventures Management
Group.
Construction Starting on Hilton Garden Inn
Source: Business Denver
Focus Property Group is starting construction on a
Hilton Garden Inn at Chestnut Place and 20th
Street. The $80 million project will rise 12
stories and contain 233 rooms. It will also
preserve a historic 130-year old but long vacant
fire station that will become the hotel's
restaurant. The hotel is expected to open in early
2019. It is occupying one of the last undeveloped
sites in the Riverfront/Denver Union Station
neighborhood.
Construction Underway on LoDo Building
Source: Confluence Denver
Urban Villages started construction on Sugar
Square, a 10,800 square foot office building in
LoDo. The four story building at 1530 16th Street
is effectively an expansion of the adjacent
historic Sugar Building, which Urban Villages
renovated in 2008. The company also added two
floors to the Sugar Building and constructed an
office and residential expansion called Sugar
Cube.
Goldman Sachs Acquires Downtown Tower
Source: Business Denver
An affiliate of Goldman Sachs bought 1125 17th
Street, a 499,975 square foot office building in
downtown Denver. The 26 story property was
purchased for $169.7 million, or about $340 per
square foot, from Pearlmark and Broadreach
Capital. The seller was represented by Winn Richey
and his team of CBRE brokers. Chase Bank is the
building's major tenant and has its name on the
building.
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.
Dinerstein Planning Capitol Hill
Apartments
Source: Life on Capitol Hill
The Dinerstein Companies plans to develop a
178-unit apartment building in Capitol Hill. The
eight story building will be located at the
southeast corner of East 7th Avenue and Grant
Street, adjacent to the new Trader Joe's
supermarket. Dinerstein, which is based in
Houston, acquired the site from a local developer
that had at one time planned a similar project.
The project's name has not yet been announced.
Chicago Company Buys Anthem Building
Source: Business Denver
An entity affiliated with Bradford Allen bought
the Anthem Insurance building at the northeast
corner of Broadway and East 7th Avenue near
downtown. The Chicago company paid CBRE Global
Investors $80,650,000, or about $181 per square
foot. The 444,000 square foot building is 86%
leased to Anthem Insurance. CBRE brokers Tim
Richey and Mike Winn were agents on the sale.
Mixed-Use Project Considered for Speer
Boulevard Site
Source: Denver Infill
A partnership of Paradise Land Company and Hines
may develop a mixed-use project along Speer
Boulevard and Cherry Creek in downtown Denver. The
concept under consideration puts the project on
two small triangular parcels bisected by the creek
and bounded by Speer Boulevard and 14th, Larimer
and Market streets. The general concept calls for
a 275-room W Hotel, 30 condominium units and
retail space, plus a parking garage. Part of the
land once housed the Denver City Hall and other
pioneer-era buildings.
iUnit Plans Jefferson Park Micro Units
Source: Business Denver
iUnit plans to develop Stadium Flats, a 56-unit
apartment building at West 20th Avenue and Federal
Boulevard in the Jefferson Park neighborhood. The
building will contain micro units, generally in a
range of 380 to 470 square feet. Pending approvals
from Denver planners, construction is scheduled to
begin in the summer. iUnit developed a smaller
building in Highlands and has plans for a project
similar to Stadium Flats on Champa Street in
Arapahoe Square.
Denver Center Reports Record Year
Source: Denver Business Journal
The Denver Center for the Performing Arts reported
that 2016 was a record year for attendance. The
downtown arts complex on 14th Street had over
685,000 ticketed guests during the fiscal year
ending June 30, 2016, the highest in the center's
37 year history. Attendance at shows, plays,
performances and readings was up 20% over the
previous fiscal year.
Embrey Plans West Denver Apartments
Source: Denver Business Journal
An entity associated with Embrey Partners bought
the vacant Festival shopping center at 3200 West
Colfax Avenue. The San Antonio-based company filed
plans with the City and County of Denver for the
Vue at Mile High, a 375 unit apartment building.
Thee 4.2 acre site just west of Federal Boulevard
was acquired for $8.1 million, or about $44 per
square foot. Demolition of the shopping center is
set for January. The unidentified seller was
represented by Fuller Real Estate.
Greystar to Begin Work on Golden Triangle
Tower
Source: Denver Business Journal
Greystar Real Estate Partners plans a January
start on a 302 unit apartment building in the
Golden Triangle neighborhood south of downtown.
The 16-story building, tentatively named Greystar
Speer Boulevard, will be located at the northeast
corner of South Bannock Street and Speer
Boulevard. Greystar is a Charleston (SC) based
company that is one of the nation's largest
developers and property managers.
Investor Purchases Sloan's Lake Apartments
Source: Business Denver
Castle Lanterra Properties bought Alexan Sloan's
Lake, a recently constructed 369-unit apartment
development in west Denver. Trammell Crow
Residential sold the property for $102.8 million,
or about $278,000 per unit. The project is part of
the redevelopment of the former St. Anthony's
Hospital land and is located at 1550 Raleigh
Street. ARA brokers Jeff Hawks, Terrance Hunt and
Shane Ozment represented the seller. Castle
Lanterra Properties is a New York-based investment
firm.
Denver Buys Five Points TOD Site
Source: Denver Business Journal
The City and County of Denver plans to buy a
vacant parcel at 29th and Welton streets in Five
Points. The land, currently used for parking, is
owned by RTD, which entered into a purchase
agreement, contingent on an appraisal. The site
has been earmarked by the Denver Office of
Economic Development for a mixed-income
condominium development, since it is adjacent to
RTD's Welton Street light rail line.
Kmart Closing Denver Store
Source: Denver Business Journal
As part of its latest round of store closings,
Kmart will close its store at 363 South Broadway
in the Broadway Marketplace shopping center. The
parent company of Kmart, Sears Holdings
Corporation, announced that 78 more Kmart and 26
additional Sears stores in the US will close at
the end of March, including the Broadway
Marketplace location. Price Development Group
recently filed plans with the City and County of
Denver to redevelop the site with a 345 unit
apartment building. The land is across South
Cherokee Street from an RTD light rail station.
Realterm Acquires Former Sports Authority
Warehouse
Source: Business Denver
Realterm bought the former Sports Authority
warehouse at 50 South Kalamath Street. The
Maryland-based firm paid an investment group
$10,950,000 for the 212,000 square foot building,
or about $51 per square foot. Sports Authority
vacated the warehouse prior to going out of
business in 2016. Alex Ringsby of Ringsby Realty
was agent for the buyer.
Alliance Purchases Lowry Site
Source: Business Denver
Alliance Residential bought a former assisted
living building in Lowry. The company filed plans
with the City and County of Denver to demolish the
building at 8505 East Lowry Boulevard and
construct 368 apartment units. The Lowry Park
Independent Assisted Living Center closed in
mid-2016. Alliance Residential purchased the
building and site for $16.5 million, which, with
368 units planned, equates to a land cost of
$45,000 per unit.
http://www.businessden.com/2017/01/10/apartment-builder-lands-17m-former-assisted-living-center/
