James Real Estate Services - Cherry Creek Perspective


Kenney Architechts




Newmark, Knight and Frank - Frederick Ross

Fidelity National Title Company

Home Builder's Research

Colorado Comps
Fidelity National Title 

Katchen Company 



Black Lable Real Estate 

Cherry Creek North

Cherry Creek Chamber of Commerce

Cherry Creek Rotary Club

Glendale Chamber of Commerce

Cherry Creek Steering Comittee

Transportation Solutions
University of Denver - Daniels College of Business
Appraisal institute - Colorado Chapter

Cherry Creek Arts Festival

CCIM Colorado Wyoming Chapter
September 2016

Bill James endorses Mike Cerbo for RTD Board of Directors
It has truly been my privilege to represent District A on the RTD Board over the past 8 years. As your outgoing RTD District A board member, I am excited to introduce you to a talented and passionate candidate who shares my values and vision for mobility and RTD. I have endorsed Mike Cerbo for election to the RTD Board of Directors.
Mike is a professional engineer and a lifelong southeast Denver resident. He has ridden RTD since childhood, and I've learned that it was his main connection to Celebrity Sports Center, school, baseball practice, friends across town and his first job. Like me, Mike is a graduate of the Transit Alliance Citizens Academy, and has been an active member of his community, previously serving as a board member on the West Washington Park Neighborhood Association.
Mike's commitment and passion for RTD and Denver are apparent and genuine. He is primarily focused on RTD's role in battling congestion, managing population growth and utilizing technology to make transit more convenient, accessible and affordable. Mike want's to "move RTD forward together" by partnering with others to ensure that the RTD system can adapt to advancements in transportation as the Denver region continues to grow.
With 15 different members representing differing interests, RTD needs a board that can work together. Throughout Mike's life, he has focused on understanding others and building consensus: whether it be adapting to new cultures, advocating for clients, or representing his neighborhood. As an engineer who likes to build things, Mike is someone who is incredibly passionate about mobility and transit, and I believe he will be an asset to the RTD board.
As we near completion of FasTracks I am more excited for RTD's future than ever before.  Find out more about Mike at:
email Mike at mike.cerbo@gmail.com or donate to his campaign at:
The Wall Street Journal reports that, "Maintenance backlogs, budget shortfalls and breakdowns plague many of the U.S.'s aging transit systems. But here, where the plains meet the Rockies, Denver's system is a rare success."
"The robot cars aren't coming. The robot cars are here," said Russ Mitchell and Tracey Lienin the Los Angeles Times. Uber announced last week that its customers in Pittsburgh would soon be able to hail a ride from one of the company's experimental self-driving cars. An Uber engineer will be in the front seat, ready to take the wheel "in case things go wrong," but otherwise the fleet of Fords and Volvos will be fully capable of driving themselves. "Although other companies, including Google, are testing self-driving cars on public roads, none offers rides to regular people," said Justin Pritchard and Tom Krisher in the Associated Press. Participation in Uber's test program will be optional for Pittsburgh residents when it rolls out in the next few weeks, but the company says that "as an enticement" it will offer the autonomous rides free of charge to woo hesitant passengers.
"Both Silicon Valley and Detroit are doubling down on their bets for autonomous vehicles," said Bill Vlasic and Mike Isaac in The New York Times. Ford also announced last week that it plans to put self-driving taxis onto American roads by 2021. "But while Ford is looking five years out," Uber is stepping on the gas. The ride-hailing company also just announced it is buying Otto, a startup focused on self-driving semitruck technology, and is embarking on a $300 million partnership to develop self-driving cars with Volvo. If Uber's autonomous fleet can conquer Pittsburgh, where the company's self-driving research lab is based, there's no doubt it can win the self-driving-car arms race, said Avery Hartmans in BusinessInsider.com.The city's innumerable bridges, tunnels, and hills-not to mention its morass of Google Maps-confounding one-way streets and narrow roads-make it the ideal city for working out the kinks in self-driving technology. "Plus, there's the weather. Snow, ice, wind, rain-Pittsburgh has it all."
Uber's real endgame is to eliminate those "pesky resource hogs" otherwise known as humans, said Jason Koebler in Vice.com. The backup driver-engineers in Uber's self-driving fleet won't even be permitted to speak to their passengers. The goal, says Uber's engineering lead Raffi Krikorian, "is to wean us off of having drivers in the car." Most auto experts agree that a future of driverless cars will ultimately be safer, more efficient, and better for the environment. And Uber predicts that hailing a robotaxi will one day be cheaper than owning a vehicle. But the transition to this brave new world will be brutal for Uber's 1 million drivers around the world. "There is no short-term job in an automated car for the recently laid-off guy who drives Uber to make ends meet."
The Downtown Denver Partnership reports that Denver Public Works, with management and support from the Downtown Denver Business Improvement District, has installed 187 new street lights along the 16th Street Mall to improve aesthetics and enhance the pedestrian experience. The new lights replace aging fixtures as well as lights that have been removed over time because of vehicle collisions. The replacements span the 16th Street Mall for 13 blocks from Market Street to Broadway. Lights were added in critical locations, restoring the original distribution and balance of pedestrian lighting along the Mall. The new fixtures, which replicate the original iconic design, use LED light to distribute light more uniformly across the Mall, especially on sidewalks, and create a more inviting, safe space for everyone to enjoy. The LED lighting will also reduce energy usage and costs.
The project was funded through Downtown Tax Increment Financing Program funds distributed by the Denver Urban Renewal Authority (DURA) and approved by the City of Denver.  "With more people moving in and out of Downtown every day, it is critical that we constantly work to keep the heart of our city a welcoming place to live, work and play," Mayor Hancock said. "These new lights will enhance the experience of our unique Mall and create a brighter and more inviting, safe space for everyone to enjoy. I thank our partners for working to implement this critical effort." 
"The 16th Street Mall is one of our most vital connectors and important public spaces, and as the Mall ages we recognize the importance of improving Mall infrastructure while maintaining important elements of its iconic design," says Tami Door, president and CEO of the Downtown Denver Partnership. "As many as 70,000 people walk or ride the shuttle on the Mall on any given day, and we've heard loud and clear that improving lighting is one of the most important things we can do to improve upon the feeling of safety Downtown. Thank you to the City and the Denver Urban Renewal Authority for partnering with us on this important project."
RTD reports that the 16th Street Free MallRide vehicles are also being replaced with new electric buses sporting a bold, modern paint scheme and will begin carrying passengers soon. The new Free MallRide vehicles are fully electric, powered by battery and will have air-conditioning.   They will have three doors like the current busses, 18 seats, two wheel chair spaces and hold 112 passengers. The 36 new buses will replace the current fleet that is approximately 16 years old and has logged more than 200,000 miles along the more than one-mile-long Mall.
Denver South reports that Lyft and the City of Centennial have partnered on a first in the nation pilot to make commuting easier on public transportation.  Together, they have made commuter rides from parts of Centennial free to and from the Dry Creek light rail station, ensuring that commuting and traveling from Centennial to downtown is easier with Lyft and RTD. "We believe this partnership will benefit the entire Denver region by reducing single occupancy vehicles and slowing traffic downtown by increasing utilization of light rail.  We hope this becomes a model for future partnerships across the region."  This pilot will test an entirely new platform that provides a more convenient, affordable transportation solution to bridge the first and last mile gap for commuters. Such a platform has not been included in any similar projects nationwide.
RTD reports that it has closed a portion of the parking at the I-25 and Broadway Station for construction of part of the Broadway Station Development project - a 41-acre mixed-use redevelopment site.  This transit-oriented community will create a dense high-quality urban area with a multi-modal transit hub at its center. The parking lot that runs south of the light rail tracks and north of Mississippi is permanently closed. Parking is still available for RTD patrons in the 1,048 spots on the paved lots at the I-25 and Broadway Station.  As the closure will limit parking, RTD encourages riders to utilize other methods to get to the station. Bus routes 0, 0L, 11, 14 feed into this station. In addition, there are 18 bike racks and 30 bike lockers available for use. Riders can also park Car2Go cars in designated areas.
Real Estate
Source: Denver Post
Sakura Square solicits proposals
The owners of Sakura Square in downtown Denver are soliciting proposals for the redevelopment of the Japanese-oriented block between 19th, 20th, Larimer and Lawrence streets. The block is owned by Sakura Square LLC and the Tri-State Denver Buddhist Temple. The concept calls for a mixture of uses featuring Japanese culture, including a new temple, retention of the Pacific Mercantile grocery store and other retail, office and residential uses. Sakura Square was developed in 1969 on the site of a larger Japanese neighborhood settled prior to 1900 but demolished by Urban Renewal.  
Source: Denver Business Journa
The Coloradan starts construction
East West Partners started construction on The Coloradan, a $200 million condominium tower in downtown Denver. The 334-unit building will be located at 1750 Wewatta Street adjacent to Denver Union Station. The building will also contain 19,000 square feet of ground level retail space. Units will sell in a price range of the mid $200,000s to $1.3 million, plus several penthouses priced up to $3 million. Construction is scheduled for completion in the fall of 2018. 
CU Denver Adding Wellness Center
Source: Denver Business Journal
The University of Colorado will build a $42.4 million wellness center on its Denver campus at Auraria. The 92,000 square foot building will be located adjacent to the Student Commons Building at Auraria Parkway and Speer Boulevard. Construction is expected to be completed in early 2018.
Denver Buying Warehouse for Homeless Services
Source: Denver Post
The City and County of Denver is buying a warehouse in the Sun Valley neighborhood for conversion into a service center for homeless persons. The 28,000 square foot building is located at 2601 West 7th Avenue, just east of Federal Boulevard. The property will be acquired for $4.1 million, or about $146 per square foot. Part of the building would also be used for storage.
DHA Plans New Headquarters
Source: Business Denver
The Denver Housing Authority plans to move its headquarters to a new office building in the Lincoln La Alma Park neighborhood south of downtown. The 50,888 square foot building would be located at West 10th Avenue and Osage Street, adjacent to the RTD light rail station and Mariposa, DHA's redevelopment of a former public housing project. The agency plans to move into the new ten-story building in 2019 and then consider options for redeveloping its current quarters at 777 Grant Street.
CDOT Planning Sun Valley Headquarters
Source: Denver Infill
The State of Colorado will build a new headquarters for the state Department of Transportation in the Sun Valley neighborhood near Mile High Stadium. The project will be located at the southeast quadrant of West Colfax Avenue and Federal Boulevard on what is currently a parking lot for stadium patrons. The 175,000 square foot building will be located adjacent to RTD's Decatur-Federal light rail station. Construction is scheduled to begin in November.
Stonebridge Buying Site for Downtown Hotel
Source: Denver Business Journal
Stonebridge Companies is buying the former Emily Griffith Opportunity School at 1250 Welton Street. The 2.5 acre site is adjacent to the Colorado Convention Center. The Denver-based hotel developer is purchasing the property from Denver Public Schools for $26.1 million. The historic school is a designated historic landmark and must be incorporated into any new development. Stonebridge did not reveal exact plans for the site.


Sales Commence at Sloan's Lake Tower
Source: Denver Post
NAVA Real Estate Development started sales for Lakehouse, a 206-unit condominium tower on Sloan's Lake Park in west Denver. The 12-story building will be located at West 17th Avenue and Raleigh Street and will offer units from the mid $400,000s to over $1 million. Kentwood City Properties is the listing agent for Lakehouse. Construction is scheduled to begin in late 2016. 
World Trade Center May Start in 2017
Source: Denver Post
Construction may begin by late 2017 on the first phase of World Trade Center Denver, the new mixed-use development that will serve as the organization's headquarters. The project will be located adjacent to the RTD commuter rail station at 38th and Walnut streets in RiNo. Concept plans for the first phase call for about 250,000 square feet of office space, a conference center, 30,000 square feet of retail and restaurant space and a 200 room hotel.
Markel Planning Welton Street Lofts
Source: Business Denver
Markel Homes is planning to develop Welton Street Lofts, a five-story apartment building at 2843 Welton Street in Five Points. The Boulder-based developer filed plans for a structure containing 48 to 62 units, ground floor retail space and a covered parking lot. 
Industry to Open Second Coworking Location
Source: Business Denver
The Industry coworking operator is starting construction on a second location. The Industry RiNo Station will be located at 3825 Lafayette Street near RTD's 38th and Blake commuter rail station. The building will contain about 152,000 square feet and is slated for completion in late 2017. The original Industry is located at 3001 Brighton Boulevard.
Gaddis Reduces Size of Curtis Park Project
Source: Business Denver
Gaddis Property Management amended plans for D-Line, a micro unit apartment development in Curtis Park. Originally proposed for 56 units, the project at 3021 Downing Street and 3148 Stout Street will now contain only 29 units. The reduction resulted in an endorsement by the Curtis Park Neighbors community association.
Trammel Crow Starting Another Downtown Tower
Source: Denver Real Estate Watch
Trammell Crow Residential plans to start construction on Alexan Arapahoe Square, a 355 unit apartment building on Welton Street between 22nd Street and Park Avenue West. Dallas- based TCR is one of the most active apartment developers in metro Denver, with two other projects currently underway or planned within several blocks of the Alexan Arapahoe Square site. The 13-story building joins several other apartment projects along the Welton Street corridor between Broadway and Five Points.
Hotel Planned in RiNo
Source: Denver Business Journal
Gravitas Development Group plans to construct a 50-room boutique hotel in the RiNo neighborhood. The Ramble Hotel will be located at 2450 Larimer Street and is programmed for an opening in late 2017.
Construction Starts on Five Points Project
Source: Denver Business Journal
Confluence Companies and Palisade Partners started construction on the Lydian, a $40 million mixed-use project at 2560 Welton Street in Five Points. The eight-story building will contain 129 apartments, 15,000 square feet of office space and 9,000 square feet of retail space. It will also include the restoration of the adjacent historic Rossonian Hotel.
Hotel Planned Near Coors Field
Source: Denver Cityscape
Intercontinental Hotel Group plans to develop a 150-room hotel in downtown Denver. The EVEN Hotel would be located at Blake Street and Park Avenue West near Coors Field. The 8-story hotel would occupy a site currently used for parking.
Self-Storage to Replace Office Building
Source: Colorado Springs Business Journal
A vacant office building in south Denver will be replaced by a 90,000 square foot self-storage warehouse. The building at 3888 East Mexico Avenue will be developed by Salt Lake-City-based Extra Space Storage. An affiliate of the company bought the Dragon Building for $3.3 million, or about $98.21 per square foot. The buyer was represented by Unique Properties Inc. TCN Worldwide brokers Tim Finholm and Sam Leger.
Printer Buys Jason Street Building
Source: Colorado Real Estate Journal
Overland LLC bought a vacant industrial building at 1377 South Jason Street in southwest Denver. The printing company paid Caraustar Custom Packaging Group $6,780,000, or about $71 per square foot. The 95,063 square foot building will be used for storage and manufacturing. Overland LLC was represented by CBRE brokers Mike Camp and Bill Thompson while JLL brokers Peter Beugg, Tyler Reed and Mitch Zatz were agents for the seller.
Jackson Square Buys Aurora Apartments
Source: Business Denver
Jackson Square Properties bought Legend Oaks, a 488-unit apartment community in west Aurora. The San Francisco based investment company paid Fairfield Residential $98.5 million, or about $201,000 per unit. Legend Oaks is located at 1250 South Dayton Court.




Sponsorship of Real Estate Perspective and Cherry Creek Perspective by the Colorado Chapter of the Appraisal Institute does not constitute endorsement of James Real Estate Services, Inc. by the Chapter.
James Real Estate Services, Inc., 90 Madison St. Suite 403, Denver, CO 80206
Sent by bjames@jres.com in collaboration with