Welcome to Cherry Creek Perspective – monthly news of mobility-related and affordable housing real estate throughout the Denver-metro area, and news of real estate, public sector and economic developments in the southeast Denver – Glendale area, relying in part on articles published in Real Estate Perspective. To read the newsletter easily on a mobile device go to:
Research a property or a market in our searchable on-line library of Real Estate Perspective articles compiled since 2001 at:
Each business day for Real Estate Perspective, the JRES staff reviews all Denver metro area wide and local newspapers, trade journals, government websites, blogs and other sources for commercial and residential real estate and economic news. News items are condensed into easily readable summaries providing all of the essential facts for the Real Estate Perspective newsletter. And Apartment Perspective, provides a detailed update of Denver metro area apartment rental, vacancy and development/construction activity including proposed projects.
The latest on Real Estate and Mobility is also available at a Group in LinkedIn with that name and moderated by Bill James at:
Please forward this email to others who may want to subscribe at:
Twenty years ago few could have imagined on-demand ride services and retail, digital social networks, or net-zero energy districts? But now we are starting to design cities around tech infrastructure rather than plugging these features in later. How will this change our cities and the way we live? Come learn about what’s happening in Colorado compared to global examples from Canada, Japan and Kenya, along with the implications for the future of real estate, design, construction and land use. Presented by the ULI Colorado Explorer series committee, this program includes a tour of Panasonic’s Smart City facility at Pena Station Next and concludes with our famous holiday party. Registration includes drinks and networking at post-program holiday party. Continuing education credits will be offered for AIA, AICP, and Colorado Real Estate Commission
Thursday, December 6 | 4 – 8 pm, Pena Station NEXT, 6144 N. Panasonic Way
Transit-Oriented Data: Resources for the metro Denver area
October 31, 2018: Webinar recording
In this DRCOG Idea Exchange, the objectives were to:
- Learn about the types of buildings, businesses, residents and employees these transit-oriented areas are attracting, how that affects travel on these corridors and more.
- Hear about key findings and high-level implications of qualitative survey results and quantitative assessments from staff at the Denver Regional Council of Governments and the Regional Transportation District.
Mobility Choice Blueprint – Denver Metro Area – Take the 2nd Quiz to get $1 off your first 3 rides with Lime Scooter!
The Mobility Choice Blueprint is a collaborative strategy to help the Denver metro region identify how to best prepare for and invest in the rapidly changing technology that is revolutionizing transportation mobility. A unique planning and funding partnership of CDOT, DRCOG, RTD and the Denver Metro Chamber is creating the Mobility Choice Blueprint – a coordinated strategic direction for the evolving mobility of the region related to walking, bicycling, driving and transit. The 2030 Blueprint will analyze travel trends and technologies in the region, explore and evaluate various technologies and their implications for mobility, align transportation investments of multiple public agencies and create new planning and implementation partnerships.
5 minutes of your time will help shape the future of mobility in the Denver metro area! Take this unique quiz:
Denver City Council Member Mary Beth Susman announced the city launched a new on-demand shuttle service. City Shuttle is a new transit option that is a 14-passenger on-demand van funded by the City of Denver in partnership with Chariot and Transportation Solutions. A pilot of the project will be for 6 months of free rides and the first route will travel between Cherry Creek, Capitol Hill, and Civic Center. There will be 17 places between these neighborhoods where you can pick up the van and headways will be just 12 minutes. The pilot is aimed at attracting retail, hospitality, and service workers who live in Capitol Hill and Civic Center, and work in Cherry Creek. According to a survey conducted last year, about 12,000 people work in the retail, hospitality and service industry in Cherry Creek.
During the pilot City Shuttles will operate on Fridays, Saturdays, and Sundays from 7:00 am to 10:00 pm and some are ADA accessible. Denver Public Works will gather data on the use and popularity of the service to see if micro-transit services can help fulfill first-last-mile connections between Downtown, Capitol Hill and the Cherry Creek Shopping District. If successful, in the second phase fares will be $2.50 and the Shuttle will accept RTD passes. The $250,000 pilot is funded through the Denver Smart City program, which is working to connect people to mobile, affordable and environmentally-sustainable city services through leveraging strong partnerships, technology and innovation. Download the Chariot app on iOS and Android and reserve a seat!
The City has completed the conceptual phase of planning (10% design) for the Colfax Bus Rapid transit and streetscape improvements in the Colfax-Mayfair BID area. Additionally, more detailed planning will occur in 2019. Current plans for the BID area include buses running along Colfax every 5-7 minutes in two dedicated center lanes with a median in the center. Transit stations are currently planned for Monaco Parkway, Krameria, Hudson, and Elm streets. One vehicle lane of traffic will remain in each direction with a projected count of 25,000 cars a day. On-street parking will remain except for directly adjacent to transit stops. The center median will be approximately 6 feet wide with areas for pedestrian crossings. Sidewalks will be expanded to 8 feet with an 8 foot wide tree lawn. Construction is currently scheduled to begin in 2020.
RTD Board Chair Doug Tisdale and General Manager and CEO Dave Genova will host an RTD district wide Telephone Town Hall to share updates from the various projects at RTD and answer questions from participants. Learn the latest about the University of Colorado A Line, B Line, G Line, fare changes, the recent RTD Board of Directors election, and other projects underway. Callers will ask questions and participate in live polls. About 100,000 residents from all 15 RTD Districts will be called at random through an automated system.
Wednesday, Nov. 14, 2018 from 6:30 p.m. to 7:30 p.m.
To receive a call when the event starts, visit www.rtd-denver.com/townhall
Or call on the date and time of the event – 877-229-8493 – enter code 112070
RTD is looking for regular bus and train riders who are interested in sharing their ideas on the 2019 Customer Panel. The 15-member panel meets four times a year to provide valuable input on products and services that can help better serve customers. Panel members receive a free Regional monthly pass for each month they attend a meeting and a free annual EcoPass for the following year if they attend all four meetings. RTD is accepting applications through December 14, 2018.
INC announced that Mike Pletsch, is the new Executive Director of Denver Bike Sharing — the nonprofit that operates B-Cycle in Denver. There are no shareholders and no investors, so everything they raise goes into providing service for the community. Mike started after the planned departure of Nick Bohnenkamp and announced that Denver will be doubling their support of Denver B-Cycle to $800K, supporting the call for a closer partnership in the Denver Mobility Action Plan. As part of this investment, Denver B-Cycle will be exploring free & reduced-price rides for Denver residents, and is working with the Denver Housing Authority to find sites to expand to in and around Sun Valley with new stations expected this year. Mike emphasizes that Denver Bike Sharing and B-Cycle want to explore technology options in partnership with other vendors and technologies, to take advantage of dockless and electric options and perhaps a shared RTD smart card.
Denver City Council Member Wayne New announced that parking meter bags that restrict parking have caused great confusion with the public. There are two colors of bags – yellow and red. The “Yellow” bag has the dates and times of restricted parking written on the bag, so, if the written times are 9 am to 5 pm for 10/1 – 10/5, then the public can park in the space before 9 am and after 5 pm for the five-day restricted period. The “Red” bag means no parking at all. With the construction activity the primary problem has been that Denver Public Works is not managing the bags on a timely basis. Bags should be placed on meters the evening before or the day of restriction and then removed immediately when the restriction expires. Public Works has not had the manpower to consistently manage the parking meter bags, which is harmful to retail customers and for residents. Allocating this responsibility to the business district is being discussed which would bring better management to the parking meter bags
Is workforce housing a dying breed?
“Institutional and private investors alike are also recognizing the potential for strong returns in the acquisition of middle-income workforce housing communities. Due to their risk-adjusted profile, investments in the workforce housing space tend to outperform other market-rate products while offering inherent advantages over higher class luxury properties—particularly during economic downturns when renters become increasingly price-sensitive and seek out higher value propositions. As institutions continue to look for opportunities to invest in the current stock of workforce housing communities, developers might be more inclined to build them.”
Two senators are proposing national rent relief bills. Here’s why it matters
“More mayors are identifying housing as their number-one problem, ahead of the more commonly prioritized issues of crime and transportation. With congressional leaders, particularly those rumored to be presidential candidates, prioritizing affordable housing, it could change the national conversation. “It may be in the 2020 election that the housing crisis and needed solutions actually become campaign issues,” Yentel says, adding that advocates have been trying to make affordable housing a national priority for decades.”
Denver City Council Member Kendra Black announces the Highline Canal Conservancy and partners are working to bring the community vision plan to reality in the form of a Framework Plan – an implementation strategy that takes a deep dive into the physical characteristics of the Canal as well as future enhancements and protections along all 71 miles. The multi-faceted plan, due for completion in April 2019, will include an existing conditions analysis, landscape design guidelines, signage design, high impact opportunity projects and Canal-wide plans that address green infrastructure opportunities such as stormwater, connectivity and crossings, historic resources and programming opportunities. The Conservancy will host two community open houses for the public to view the Framework Plan and provide feedback. Scheduled dates are Jan. 23 & 24, 2019. Locations TBD.
Denver City Council passed a green buildings ordinance to replace the green roofs initiative approved by voters in November 2017. The new law was carefully designed to honor the will of the voters who called for more sustainable development in Denver, while fixing the legal and practical challenges of the original ordinance. New buildings and additions over 25,000 square feet and roof replacements on existing buildings over 25,000 square feet will need to demonstrate how they meet the green buildings ordinance before permits can be issued.
The green buildings ordinance achieves an urban heat island reduction by requiring simple and affordable “cool roofs” on all buildings subject to the ordinance. Most buildings will also need to incorporate another green building strategy, choosing from among green space (which can be on the ground), the use of solar or other renewable energy (which can be purchased from Xcel), energy efficiency improvements, third-party building certifications, enrolling in an energy program, or paying into a green building fund. Under the new ordinance, both new and existing buildings will be able to find viable, flexible options for contributing to Denver’s climate goals — at a cost to implement of 20% – 90% less than the previous green roofs initiative.
Compared to the green roofs initiative, the new ordinance will add up to 3.5 million more square feet of green space by 2050, lead to an even greater reduction in urban heat island, reduce greenhouse gas emissions, and improve water and storm water management, but with far greater flexibility in building design and at a much lower cost. Community Planning and Development (CPD) and the Denver Department of Public Health & the Environment (DDPHE) are jointly working to draft rules and regulations for managing the implementation of this ordinance. The draft rules and regulations are available for public review and comment through November 30. Final rules are expected to be adopted in February 2019.
Email your comments by November 30th, so staff can incorporate your edits before submitting a final draft at the end of December to the DDPHE board, or, comment in person: November 28, 3 p.m. – 5 p.m., Room 4.G.4 of the Webb Municipal Building at 201 W. Colfax Ave
CPD will discuss building permits and the paths available for projects under the new green buildings ordinance: Thursday, November 15, 4:30 p.m. – 6 p.m., Denver Post Building Auditorium, 101 W. Colfax Ave.