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Zocalo Development has announced that it has renamed the
apartment project it has planned for 17th and Wewatta in
downtown Denver. Rebranded
Cadence
Apartments, construction of the
222-unit, 13-story complex is to begin this year and be
completed by Fall 2013.
DPC Development Co. has purchased the
Logan
Tower office building at 1580 Logan
Street in Denver from Jordon Perlmutter and Co.
Negotiated via Garrette Matlock of Marcus and Millichap,
the 69,800 SF building was exchanged for $5.84 million,
or $84/SF.
The recent purchase of a 3.1-acre site in the
East Gates
development along Broadway by Fore Property is to soon
be followed by construction of a 260-unit apartment
complex on the site by the company. To be completed in
19 months, the 4-story complex will offer unit sizes of
651 to 1,467 SF and is to have expected rents of
$1.50/SF. To have a LEED Gold rating, its location at
the northeast corner of Broadway and Mississippi places
it midway between the light-rail stations at Broadway
and Louisiana. The property was purchased from LUI
Denver for $6.8 million, or $50/SF. Agency for the
seller was by Steve Odell and Chris Cowan of ARA
(formerly Apartment Realty Advisors).
A site at I-70 and Kearney Street has been chosen by
Goodwill Industries for a new Outlet
World warehouse by the company. To total 220,000 SF at
4355 Kearney Street, the transaction was negotiated on
behalf of Goodwill via Crosby Real Estate agent Rich
Otterstetter and for the landlord via Todd Witty of CBRE
Group.
The
Wellshire
Arms apartments in Denver were recently
sold via Terrance Hunt, Shane Ozment, and Andy Hellman
of Apartment Realty Advisors. Totaling 105 units at 2499
South Colorado Boulevard, the property was exchanged
between seller Wellshire Arms Company LLLP and buyer, a
British Columbia-based private multifamily investment
firm, for $12.5 million, or $119,000/unit.
A 1-acre site recently sold to Medici Communities along
the Southwest light rail corridor is to become the
location of a new low-income transit-oriented housing
development. To serve households below 30% to 60% of
area median income, the
Evans
Station Lofts at 2140 South Delaware
Street is to open in spring 2013 and will offer 50 units
within 5 stories and will include 7,100 SF of
commercial/retail space. The seller of the site was the
Urban Land Conservancy.
A price of $4.43 million, or $34/SF, was garnered by LNR
Property LLC in the sale of the
One and
Two Monaco Park office buildings to
Boxer Property. Sold via Transwestern agents Brad Cohen
and Larry Thiel, the 128,500 SF property is located at
6795 and 6825 East Tennessee Avenue in Denver.
The land at
901-947
South Monaco Parkway has been exchanged
between seller MAD Properties LLC and buyer Kevin
Ashbury. Negotiated on behalf of the seller via Jeff
Becker of Phill Foster and Co., the 42,500 SF site was
sold for $510,000, or $12/SF.
The formal transfer of the
Buckley
Annex near Lowry from the US Air Force
to the Lowry Redevelopment Authority took place
recently. The 70-acre site is planned for a $165 million
redevelopment that is to include 800 residential units,
200,000 SF of office and retail, a 4.5-acre community
park and several small pocket parks.
Denver City Council Member Jeanne Robb reports that the
Colorado Boulevard Health Care District will have a
special meeting to discuss the redevelopment of the
former Health Sciences Center site at
9th and
Colorado Boulevard on Tuesday, June 26th
at 4pm. They will be discussing further site development
plans with particular focus on a potential large format
retailer. Discussions and work with Atlanta-based
developer Fuqua (formerly Sembler) have been going on
since last spring - including an amendment to the
General Development Plan which lays out streets, open
space and design guidelines. Recently, Fuqua announced
that they are strongly considering an urban-style
Walmart for the site. The location of
the meeting has not been determined. If you would like
to receive the location update, e-mail
gail.duree@denvergov.org.
After 26 months of visioning, discussion, focusing,
discussion, neighborhood meetings, discussion, public
meetings, discussion, working groups, discussion, and
e-mails, the
Cherry
Creek Area Plan was approved by the
Denver Planning Board. The plan creates a vision for
Cherry Creek for the next 20 years with recommendations
for urban form (the built environment), the public
realm, economic development and transportation. Five
working groups discussed Alameda Parkway, the
Colorado/Harrison area, transit and transportation, the
Cherry Creek Mall site, and Urban Form between 2nd and
3rd Avenues in the CCN retail area. With Planning Board
approval, the Cherry Creek Area Plan will go to the City
Council's Land Use, Transportation and Infrastructure
Committee and have a public hearing before Council the
second or third week of July.
Denver Civic Center
has been recommended by a U.S. Department of the
Interior agency and by the National Park Service
Advisory Board to become a National Historic Landmark.
Mayor Hancock testified before the National Park System
Advisory Board Landmarks Committee saying,
"Civic Center serves as the keystone for the entire
Denver Parks system and sits literally where the City's
cultural, community and commercial realms converge. For
Civic Center to receive the honor of becoming National
Historic Landmark would shine a spotlight on this city
treasure and help to deliver Denver as a world-class
city."
The Denver Civic Center recommended for designation
includes Civic Center Park, Veteran's Park, the
McNichols Building, the City and County Building and the
Colorado State Capitol. A legacy park from Mayor Speer's
City Beautiful Movement, Civic Center would join a list
of some of the most iconic, treasured and historically
significant spaces in the United States. Designation
would place Civic Center alongside such sites as the
Empire State Building, the Alamo and the Library of
Congress. The designation will become official as soon
as Secretary of the Interior Ken Salazar signs it. More
at:
www.nps.gov.
RTD, the city of Denver and CDOT continue to progress on
the $3,975,000
East
Colfax Avenue Transit Priority Project.
The RTD Board recently authorized $500,000 for planning
and design with actual construction to follow. The
project will improve bus operations through traffic
signal priority, bus queue jump lanes and bulbs,
advanced fare collection and bus station enhancements.
And
FasTracks
continues to progress as well:
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50 miles
of new rail is either under construction or under
contract to begin construction.
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The West
Rail Line will open to the public April 26, 2013,
eight months ahead of the originally scheduled opening
date. The West Rail Line is now 93 percent complete.
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Denver
Union Station is now 63 percent complete. The light
rail station and plaza area are complete and open to
the public.
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The East
Line to DIA and the Gold Line to Arvada will move into
heavy construction this summer.
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The
first segment of Northwest Rail will begin
construction later this year.
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Construction on the first segment of the I-225 Line is
underway. The Yale Bridge has been demolished and the
new larger bridge to accommodate our rail line and the
225 highway expansion is being built.
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Final
design on the North Metro Line will begin this summer.
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The US
36 BRT Express Lanes Project will begin construction
in July.
RTD has had great success in securing federal funds for
FasTracks, including $1.3 billion in Full Funding Grant
Agreements, TIFIA and RRIF loans and TIGER funds to
date. RTD's Eagle P3 Project (public private
partnership) building the East and Gold Lines and the
commuter rail maintenance facility is the first transit
P3 of this magnitude in the country. RTD continues to
aggressively pursue alternative funding - such as
grants, public-private partnerships and unsolicited
proposals - to complete FasTracks as soon as possible.
RTD's team mantra is to build as much as we can, as fast
as we can, until it's all done!
Transportation Solutions,
the Cherry Creek based transportation management
association recently joined forces with the Denver
Regional Council of Governments (DRCOG) and fellow
transportation management organizations (TMOs) around
the metro area in a regional effort to reduce
drive-alone trips. This Regional TDM Partnership
utilizes travel demand management (TDM) programs like
Bike to Work Day, RTD ECO and Flex passes, van and
carpool matching through RideArrangers, and outreach to
employers, community groups, and schools.
The Partnership will launch a large-scale re-branding
and marketing campaign in Summer 2012. This Partnership
will last two years and is funded through a federal
Congestion Mitigation and Air Quality Improvement (CMAQ)
grant. By sharing resources and pooling the proven
experience and successes of the partners, this program
will be an efficient use of federal funds. TS partners
in this effort include:
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Denver
Regional Council of Governments (DRCOG)
-
36
Commuting Solutions
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Boulder
East Community Transportation Options
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Downtown
Denver Partnership
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South
I-25 Urban Corridor Transportation Management
Association
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Stapleton Area Transportation Management Association
The partnership will attempt to reduce demand for
parking and improve employee health and satisfaction
through worksite-specific incentive programs and events.
It will help employers establish employee transportation
benefits like RTD pass subsidies, van/carpooling
programs, telework and an environment that promotes
active lifestyles. The partners will engage with
schools, neighborhoods, religious and senior groups to
facilitate Bike to Work Day breakfast stations, local
festivals and sporting events, Try Transit events,
transportation fairs at worksites and presentations to
community groups.
The intent is to promote policies that encourage
walking, biking, and public transit; present to local
and regional decision-makers; work with developers,
local governments and community groups to plan and
implement infrastructure and streetscape design that
improves walkability and public transit connection. In
conjunction with this effort Transportation Solutions
has expanded to a service area bounded roughly by East
Colfax Avenue, the Platte River, Hampden Avenue and
I-225. |
