DENVER | Main Development Thread #7

[enjo13]

There is construction fencing up at 12th and Grant.

[RyanD]

^... I can't keep up. This is the first time in DenverInfill reporting history where we cannot keep up with all this madness. It's so awesome.

[pablosan]

Originally Posted by twister244

Here's a feel-good opinion article that gives me hope Block 162 (at lease the office component), will indeed break ground later this year. This of course assuming no macro-scale economic issues arise.

http://www.crej.com/news/downtown-la...-space-needed/

An interesting read. With that said, I don't think many developers, in the Denver market have the fortitude to build anything over 700' tall. 1144 Fifteenth, although a beautiful building, is somewhat lost in the skyline. Building above 700' would have allowed it to stand out, with that beautiful, glowing crown.

[COS]

I think an office tower >700' will require a company like an Amazon/Google/ULA or other giant to want a consolidated footprint for a significant number of employees. Maybe this was discussed on here previously, but isn't there a Google campus going up in Boulder? How did Boulder beat downtown Denver to that one? I get the argument for a campus setting in a college town, but it seems like the upgraded vitality of downtown could present plenty of great counter-arguments combined with some strategic tax incentives.

[BG918]

Originally Posted by COS

I think an office tower >700' will require a company like an Amazon/Google/ULA or other giant to want a consolidated footprint for a significant number of employees. Maybe this was discussed on here previously, but isn't there a Google campus going up in Boulder? How did Boulder beat downtown Denver to that one? I get the argument for a campus setting in a college town, but it seems like the upgraded vitality of downtown could present plenty of great counter-arguments combined with some strategic tax incentives.

Google already had a significant presence in Boulder, and has for years. It's one of their key locations outside of California.

Watch Amazon. They are actively looking for 150k SF of space in downtown Denver. I could see that being just the beginning.

As for developers who can do 700+, Hines has shown that they believe in this market and certainly have the capability to build skyscrapers. If 1144 15th is a success they will continue to invest in downtown Denver.

[RyanD]

Also keep in mind that there can be residential / hospitality mixed-use in a 700+ footer. I think that if Denver were to get a new tallest, it isn't going to be an office project.

[twister244]

Originally Posted by RyanD

Also keep in mind that there can be residential / hospitality mixed-use in a 700+ footer. I think that if Denver were to get a new tallest, it isn't going to be an office project.

1.) Pass defects reform.
2.) Have Hines propose a 950 ft mixed use condo/office project.
3.) Enjoy skyline transformation.

[wong21fr]

Originally Posted by BG918

Watch Amazon. They are actively looking for 150k SF of space in downtown Denver. I could see that being just the beginning.

I believe that there's only four options for a company looking for 100K plus contiguous space downtown at the moment:

1) 1144 15th Street
2) Block 162
3) 16 Chestnut
4) Whatever space Century Link might vacate.

[Denver]

Originally Posted by wong21fr

I believe that there's only four options for a company looking for 100K plus contiguous space downtown at the moment:

1) 1144 15th Street
2) Block 162
3) 16 Chestnut
4) Whatever space Century Link might vacate.

There are a few other options

Ones currently Under Construction
1) 1616 Platte- 80,000sf (I know it is a little smaller)
2) 1700 Platte- 203,000 sf. 110,000sf still open
3) Civica Cherry Creek- 101,000sf


Proposed and Likely
1) Platte 15- 160,000sf office at the corner of Platte and 15th St.
2) New WTC complex
3) Revolution 3600- 120,000sf

Proposed but who knows
1) T2
2) 235 Filmore

[RyanD]

Originally Posted by Denver

2) 235 Filmore

This turned back into a freshly paved surface parking lot. I'm not sure if this will happen any time soon.

[CherryCreek]

Originally Posted by RyanD

^... I can't keep up. This is the first time in DenverInfill reporting history where we cannot keep up with all this madness. It's so awesome.

To your point, I thought it was funny that Denver Infill missed the 2nd and Adams project in Cherry Creek until you noticed that ground had broken and construction was well under way as you were in Cherry Creek to update other projects.

In many years between 2001-11, that 2nd and Adams project would have been the highlight of the year (or of a couple year period) for Cherry Creek north. Nowadays, where it looks as if the entire district is in complete re-build mold, it was easy to over look!

[seventwenty]

Colorado Rockies Lease Deal to expire

Originally Posted by 9 News – Kyle Clark

The Rockies 22-year lease to play at Coors Field expires on March 30.

No, the Rockies will not be playing at the West High School baseball field, but the team doesn't yet have an agreement beyond this month.

The team is willing to take on 30 years worth of Coors Field maintenance and upgrade costs in exchange for the "West Lot," which is the parking lot that's actually south of the stadium.

The 291 spaces are between Jackson's and the Denver Chophouse, bordered by 19th and 20th Streets and Wazee and Wynkoop Streets.

The Metropolitan Baseball Stadium District own Coors Field and the parking lot the Rockies want to buy.

. . .

The current lease allows the Rockies to extend the agreement by five years, three different times. At a board meeting last March, the Rockies told the District it is not interested in any of the five-year extensions.

. . .

The Rockies commissioned a report in late 2015 to determine the future of Coors Field. The report determined that it would cost about $194 million to provide capital improvements to the stadium over 30 years. More or less, the Rockies need about $7 million a year for 30 years.

Last March, the Rockies proposed buying the parking lot for $5 million a year over 30 years, after which it would own the land outright. The team would then agree to a $2 million a year lease for 30 years. Altogether, the money would cover the costs of capital improvements for 30 years.

Prior to that March 2016 meeting, the Rockies and the District worked together asking developers for proposals for the parking lot in question.

After seven proposals were submitted, five were invited to interview with the District and the Rockies. Afterward, the Rockies let the District know that none of the proposals were acceptable to the team.

Essentially, there are two options:

1. The District could lease the land to a developer, and take the money and pour it back into stadium upgrades, while reaching a long-term lease with the Rockies.

2. Sell the land to the Rockies, which will allow the District to use the money from the sale to pay for upgrades at Coors Field.

The city of Denver has that parking lot zoned for an eight-story building. It's likely the land will be developed into office, housing and retail. No matter what happens, the 291 parking spots are supposed to be build underground, so that no parking would be lost.

[twister244]

I've always wondered about that parking lot across from Coors. Will be interesting to see how that unfolds.

Side note, did anyone ever figure out what that "Paradise" development is?

[The Dirt]

Paradise Land Co. owns a bunch of downtown property. It could be anything that is actively being marketed.

[twister244]

Originally Posted by The Dirt

Paradise Land Co. owns a bunch of downtown property. It could be anything that is actively being marketed.

Good to know. A little birdie showed me something this morning that I was trying to connect the dots with. But... it may not be the same thing.

[PLANSIT]

Originally Posted by RyanD

This turned back into a freshly paved surface parking lot. I'm not sure if this will happen any time soon.

Speak of the devil:

Site Address and Description
235 N Fillmore St - 2017PM0000121 - Fillmore Mixed-Use Office Bldg

[Sam Hill]

Originally Posted by Sam Hill

Here we go again. Pretty much the same bill we've already seen four times. I have a feeling it's going to die in committee again.

Colorado Senate approves major construction-defects reform

It was sent to the kill committee yesterday.

Colorado construction-defects reform centerpiece assigned to 'kill committee'

There's still some hope something could pass, but somehow I doubt it.

Wist said, however, that he and Rep. Alec Garnett, D-Denver, are working on a pared-down bill on the topic for which Duran has signaled support at least at the big-picture idea stage.

That measure would require a majority vote of condominium owners and would require that owners be informed of both the positive and negative consequences of a lawsuit before any legal action is filed. It does not address alternative dispute resolution, which has been the main sticking point for Duran.

It is similar to Senate Bill 157, a bill from Democratic Sen. Angela Williams that was killed by a Republican-led Senate committee on Monday, except that it does not bar developers from talking with condo owners during the period in which they are voting to move forward with any legal action. Passing that and another currently stalled bill that seeks to reduce insurance costs for developers still would constitute substantial reform, he added.

[comoneymaker]

How about we get rid of the Rockies and get another team that is not owned by a POS and can win a game. And the stadium doesn't need any upgrades. It is in great shape. Screw them.

[EngiNerd]

Originally Posted by comoneymaker

How about we get rid of the Rockies and get another team that is not owned by a POS and can win a game. And the stadium doesn't need any upgrades. It is in great shape. Screw them.

It's not just upgrades they are talking about, most of that earmarked money will be for just maintaining the stadium...there is a lot of work that goes on behind the scenes to keep all that steel and concrete in tip top shape, and as the stadium ages, more an more repairs will be required.

[CherryCreek]

Originally Posted by EngiNerd

It's not just upgrades they are talking about, most of that earmarked money will be for just maintaining the stadium...there is a lot of work that goes on behind the scenes to keep all that steel and concrete in tip top shape, and as the stadium ages, more an more repairs will be required.

Sooo. Coors Field is what, 22 years old? Time to start thinking about... replacement?

Ironically, in the orgy of of taxpayers spending billions to subsidize millionaires (baseball players) and billionaires (owners) so many sports palaces have been built that now Coors Field is the 13th oldest in baseball. A stadium newer than Coors Field - Turner Field - was just retired with a new stadium coming on line in Atlanta this year.

I say this tongue in cheek (I think). Coors Field was one of the best done of the new style "old stadiums," is beloved by fans, has had high attendance despite miserable play, and hopefully has another 25 years left (at least).

It wouldn't surprise me if Mile-hi gets tagged for replacement before Coors. Although Invesco was nice enough for its time, by today's NFL standards this frugally-built facility is Section 8 housing. The new standard is billion dollar plus stadiums with retractable roofs and as much gaudy luxury as taxpayers can be persuaded to fund.

Before you laugh, recall the life expectancy of the St. Louis Ram stadium. Built in 1995 to attract the Rams from LA and abandoned in 2016 - 21 years later - because it didn't meet current NFL standards.