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Recent News About Denver/New Development:
4/2/05 - Veteran developers Charlie Woolley and Wally Hultin on Thursday purchased two half-blocks across from the Colorado Convention Center, where at least three high-rise buildings valued at about $260 million are planned. Woolley, president of the St. Charles Town Co., and Hultin, principal of Byers Street Properties, paid $16.75 million, or about $167 per square foot, for the 100,000 square feet of parking lots between California and Champa streets. Development plans call for a hotel, retail and high-rise condominiums and apartments on four parcels. The land is zoned for 1.7 million square feet. The first phase will include three of the four parcels and about 800,000 square feet, Woolley said. The fourth parcel, if developed, could add 180,000 square feet, bringing the total to just under 1 million square feet, he said. Woolley and Hultin immediately sold one of the parcels to the Nichols Partnership, which developed Clayton Lane in Cherry Creek. Nichols Partnership, headed by Randy Nichols, is expected to develop a high-rise on its parcel at Champa and 14th streets, although details are being worked out. Next to Nichols' parcel, Woolley and Hultin plan a 30-story, mixed-use building with 250,000 to 350,000 square feet of apartments and condominiums at 14th and Stout streets. The building could include retail on the ground floor, some parking and offices. A parking garage built in the 1940s would provide parking for that building, as well as for a new extended-stay hotel. Whiteco, a privately held Indiana-based company, plans to build a 27-story, 250-room hotel in front of the garage. Construction of the hotel is expected to start in the next 8 months.
3/8/05 - Dan Horvac and partner Kevin Berryhill, for example, are planning a 114-unit, 19-story, mixed-use redevelopment project. Called 1000 Speer and located at West 10th Avenue and Speer, its prices will range from $225,000 to $1.5 million. The prime residential units will be on the building's west and south sides to take advantage of unobstructed views. The building's eastern face, overlooking Cherokee Street, will reflect the pedestrian scale of its redeveloping neighborhood, with ground-floor retail and restaurant space.
2/1/05 - Members of the powerful Patel family, Indian immigrants who own 55 percent of the nation's limited-service hotels, plan to build a 12-story, 138-room Best Western hotel on what is now a parking lot at 15th and Stout streets in downtown Denver. The $19 million project, expected to begin in May, is the Patels' first attempt to build a hotel in the heart of a major American city.
12/17/04 - Kroenke Sports Enterprises and Landric Corp. are planning to build a retail, entertainment and housing development adjacent to the Pepsi Center that could include a public ice-skating rink or recreation center.seven different ideas," said Bill Pruter, vice president of arena development at Kroenke Sports. "It's pretty preliminary at this point. The project would be built on 3.4 acres of vacant land the development partners agreed this week to buy for $2.7 million from RTD. The site is off Auraria Parkway, southwest of the Universal Lending Pavilion and the Pepsi Center, facilities that are owned by businessman Stan Kroenke. The site was formerly home to Air Liquide, a producer of industrial, specialty and medical gases. RTD purchased 5.3 acres in 2000 and used a portion to build the light-rail station that serves nearby Invesco Field at Mile High. Landric Corp., which owns adjoining property, and Kroenke Sports formed Fifth Street Ltd. to purchase the property, which is at 1450 Fifth St.
10/7/04 - Target Corp. says it still wants to break into downtown Denver, and it's considering building a store topped with affordable housing. Officials with the Minnesota retailer met recently with city officials and Mercy Housing, a nonprofit developer of affordable housing. Mercy is considering selling to Target the former Bank of Denver building and an adjacent parking lot it bought for $3.4 million in February. The property is on the 1500 block of California Street and is the gateway between Denver's 16th Street Mall and what will be the front doors of the new $285 million Hyatt hotel, under construction and due to open late next year. The number of affordable-housing units planned for the block would nearly double to about 150 if Mercy Housing and Target Corp. strike a deal and acquire more adjacent land on the block.
9/24/04 - East West Partners-Denver unveiled plans for three-story luxury townhomes along Cherry Creek in the Riverfront development in the Central Platte Valley. Sales will kick off Oct. 1 for the 23 Townhomes at Riverfront Park at Little Raven Street and Cherry Creek. They're priced from $615,000 to $1.1 million and range in size from 1,800 square feet to 2,400 square feet. OZ Architecture is designing the townhomes and Pinkard Construction is the general contractor.
8/7/04 - A local development company, in association with a Florida developer, is proposing a high-rise residential complex at 3rd Avenue and Havana Street in Aurora. The project is proposed to include up to 600 residential units in twin 18-story buildings located on top of a multi-level parking structure. The project would also include up to 30,000 square feet of retail space. Construction is expected to begin in mid-2005, with completion in 2007. The proposed development is located at the site of the long vacant Fan Fare shopping center.
7/27/04 - The Colorado Rapids, Kroenke Sports Enterprises (KSE), and officials of Commerce City today announced plans to develop more than 360 acres of open land to house a 20,000-seat soccer-specific stadium for the Colorado Rapids, youth soccer fields, 200 acres of retail development, and a new Commerce City civic center. The stadium will be home to Major League Soccer’s Colorado Rapids, also owned by KSE, as well as concerts and other events. The stadium, which will be owned by the city and operated by KSE, will be at the new Prairie Gateway development in Commerce City. Construction will likely begin in early 2005 with a projected opening date in Spring 2007. HOK already has been announced as the stadium architect. The $130 million project will be located nine miles northeast of downtown Denver near the intersection of I-70 and Quebec Street, just north of the planned NorthField at Stapleton retail center and the rapidly growing Stapleton neighborhood development. The proposed development site would be bounded on the west by Quebec Street, on the east by the Rocky Mountain Wildlife Refuge, on the north by Highway 2 and on the south by 56th Avenue.
3/31/04 - RedPeak Properties recently completed the purchase of the 31-story 1616 Glenarm high-rise that has stood vacant on the 16th Street Mall for nearly a decade. RedPeak plans to convert the one-time Security Life office building into 330 high-end rental units anchored by 30,000 square feet of retail on two floors. The $50 million project will begin in August of 2004.
3/11/04 - Target is scouting downtown Denver for a two-level store with underground parking. The Denver Urban Renewal Authority confirmed that they have been contacted by the Minneapolis-based retail giant. One site Target is considering is the Bank of Denver property bordered by 15th, 16th, California and Welton streets across from the 1,100-room Hyatt convention center hotel under construction. If Target built on that site, it would likely have two floors of retail above ground and underground parking. Denver-based Mercy Housing recently bought the historic Standish Hotel/Bank of Denver building, which is on a portion of the block. Mercy plans to convert part of the building into 75 units of affordable housing. It is possible, if the deal went through, that the Standish Hotel would be razed and an even larger affordable housing component would be added on top of the Target building.
3/2/04 - The prime Denver Seminary site at South University Boulevard and East Hampden Avenue in Englewood is poised to be redeveloped into a lavish townhome, condominium and retail center. A local team headed by veteran developer John Forstmann will market the townhomes and condominiums, priced from about $300,000 to more than $1 million, to people who live in large single-family homes in nearby Cherry Hills Village and Greenwood Village. While Forstmann said it is too early to estimate the completed value of the 11-acre seminary site in Englewood, real estate experts estimated it could approach $500 million. The developers will pay $12 million for the land. Plans call for 45 two- and three-story townhomes around the perimeter of the site with an average size of 3,300 square feet. There also will be as many as 305 condominiums. Initial plans call for six condo buildings ranging from five to 14 stories built around an acre courtyard that will include a 20,000-square-foot clubhouse with an indoor/outdoor swimming pool. The project, as yet unnamed, also will include a three-story, 60,000- square-foot, European-style gourmet retail center under one roof called Savoir Fare.
10/10/03 - The City of Denver and the Colfax Business Improvement District have teamed up to explore the development of a streetcar line along Colfax Avenue. Denver has pledged $50,000 and is seeking another $150,000 in federal funds from the Denver Regional Council of Governments to study the possible installation of a streetcar line on Colfax from the state Capitol at Lincoln Street to Yosemite Street, on Denver's eastern border with Aurora. The study will examine the feasibility of replacing RTD's high-volume Route 15 bus service with streetcars. Funding for a Colfax streetcar line could come from a number of sources, including bond money, federal funds, private investment and possible tax-increment financing that relies on transit-spurred development to raise money for the project.
9/24/03 - The Environmental Protection Agency plans to move its local office into a new 250,000-sf, 10-story tower on a key location in LoDo. The new building would be built on slightly more than half of the 100,000-sf site of the former US Post Office Terminal Annex Building on Wynkoop Street. The site, owned by Houston-based Hines, currently has a 406,000-sf building on it that needs to be razed. Hines plans to build 135 condo on the remaining property in buildings up to 12 stories.
7/10/03 - The Rocky Mountain News and The Denver Post would share a new headquarters on a historic block overlooking downtown's Civic Center under a plan announced Tuesday. The Denver Newspaper Agency, which publishes the two papers, confirmed it has entered into an option to purchase about 80,000 square feet of land at Broadway and Colfax Avenue. The architectural firm working with the agency said preliminary plans call for a 10-story building with about 275,000 square feet. There is room on the site for a second office tower to accommodate future growth, up to a maximum of 700,000 square feet, although that much will never be built. The plan also calls for a parking structure, likely on the Colfax Avenue and 15th Street portion of the site. The entrance to the building likely will face the Pioneer Fountain near Broadway, said architect Steve Newman of Newman Cavander & Doane, which has been working with the agency, along with Oz Architects. Both are local firms. There could be retail space on the ground floor, Newman said. The site is in the Civic Center Historic District, which limits building height to 10 stories near Colfax Avenue and to 20 stories at the north end of the land next to the Petroleum Building along the 16th Street Mall, Newman said.
5/28/03 - Developer Craig Nassi, whose European-style condo buildings tower over Denver's Golden Triangle neighborhood, plans to build a similarly styled apartment building bordering Denver's City Park. The 140-unit structure, called the Uffizi, will be six stories tall and border Colorado Boulevard between 16th and 17th avenues. The project is named after a museum in Florence, Italy. "This is going to be high end," said Nassi, whose most recent development, The Beauvallon, has condos selling for $225,000 to $2 million. "It's going to have doormen, a health club and a swimming pool." Nassi plans to start construction on the Uffizi in August. He has not determined the monthly rents but said they would be affordable to people living and working in the area.
2/24/03 - The downtown Denver hotel market is likely to get another new occupant in 2004 with the arrival of a Residence Inn hotel at 18th and Champa streets. Though the deal has yet to be officially confirmed, Evan Makovsky, owner of the Denver real estate company Shames-Makovsky, confirmed that he is in negotiations to purchase the 31,250-square-foot parcel that is currently a parking lot next to the Hotel Monaco. The expected hotel would have nearly 280 rooms. Hospitality insiders estimate the cost of a hotel that size would fall between $28 million and $35 million.
1/29/03 - Adelphia Communications Corp. will move its corporate headquarters from north central Pennsylvania to Denver, the company said Tuesday. The company said moving its corporate headquarters to Denver "is essential to the rebuilding of Adelphia into a successful and profitable cable company." It cited a number of reasons, including the fact that Denver is a center of the cable industry, the city has an "excellent pool" of qualified executives, and it is within closer commuting distance to the company's eight regional operating centers, including its largest market in Southern California. Adelphia said the Denver headquarters would have about 150 employees, including the executives who will move from Pennsylvania and new hires.
1/16/03 - The El Jebel property was rezoned by the City Council on 1/13/03 to allow for the construction of a mixed-use tower of up to 650 feet in height. The next step for the tower proposal is a Planning Commission hearing on 2/5/03.
1/16/03 - The developers of the proposed City Park South project continue to revise the design for the project. The latest plans call for a total of 562 residential units on the portion of the site north of 16th Avenue. The first phase of the project will include 244 apartment units in two new 4 story buildings and a renovated office building existing on the site. Allied Real Estate is the developer. The second phase of the project will include 310 condominium units in 24 and 36 story towers overlooking City Park. No plans have yet been created for the portion of the site south of 16th Avenue. Buildings in this area, however, will likely be in the 2 to 3 story range.
12/20/02 - The Colorado State population reached 4,506,542 in July of 2002, according to the U.S. Census Bureau. The population has increased by 205,281 since the 2000 Census.
11/7/02 - A King Soopers would anchor a $67 million housing and retail development planned near Coors Field. Officials say they hope to see the store opened by 2004. The 53,000-square-foot King Soopers would be built on land owned by Trillium Corp. between Chestnut, Wewatta, 20th and 19th streets. The store will have a three-story above-ground parking structure with 581 spaces. The development also would include about 212 market-rate apartments and 108 senior housing units.
11/7/02 - The proposed El Jebel Tower received a positive recommendation from the Denver Planning Board. The board recommended approval of the zone change required for the project by an 8 to 0 vote. The plan must now be presented to the City Council Land Use Committee, before going to the full Council for approval.
10/1/02 - 65-story tower for downtown? According to the Denver Post, the owners of the Hotel Teatro plan to develop a 65-story building across the street from the inn, on the empty block defined by 14th and 15th streets and Arapahoe and Lawrence streets. It would be the tallest building in Colorado, topping the 56-story Republic Plaza. A four-star Four Seasons Hotel will fill the first 20 floors, and the top 45 floors of the building will be condos. A formal announcement is planned later in October.
9/23/02 - The Denver Newspaper Agency is investigating moving the Rocky Mountain News and The Denver Post into a new building proposed for the U.S. Post Office Annex site in lower downtown, several sources said. The annex at 15th and Wynkoop streets, controlled by Hines Interests, would be razed to make way for new development. Hines initially planned about a half-dozen condominium buildings on the site next to Union Station and across the street from the Tattered Cover Book Store. The newspaper building would cover about 235,000 square feet, sources said, about 50,000 square feet less than the nearby Legacy Plaza under construction a block away, which earlier had been considered as the combined home for the newspapers. However, sources said that the annex is attractive to the Denver Newspaper Agency, which handles the business operations for both papers, because the agency could buy the building on the Hines site, as opposed to leasing Legacy Plaza. The agency also would be housed in the new building.
7/22/02 - The Park 36 project by Fiest Associates Inc. and Wiens Real Estate Ventures in Broomfield will have an estimated completed value of $480 million. The 138-acre site is located along U.S. 36 between Wadsworth Parkway and Olde Wadsworth Boulevard. When completed, it would have about 500 for-sale residential units and as many as 1,200 apartments. It also would have about 100,000 to 125,000 square feet of retail. The mixed-use Main Street area will have retail on the ground floor and housing on top. The final phase could include up to 1.5 million square feet of office and strip retail space along Wadsworth. Eventually, it is proposed to be a hub for a light-rail line that would serve the corridor between Denver and Boulder. The project is proposed to break ground in about a year.
6/27/02 - The former Gates Rubber Co. site near Broadway and Interstate 25 eventually will have a completed value of 500 million to 1 billion dollars and as much as 7.5 million square feet of housing, retail, restaurants, offices and a hotel. The project, expected to take 10 to 15 years to complete, could include 4,000 residential units - half for sale and the others for rent; 2 million square feet of offices; 250,000 square feet of retail; and a 150,000-square-foot hotel on the 50-acre site. Separately, Gates plans to rezone 28-acres of land that it retains ownership of to allow for a mixed-use development, although Gates will keep its headquarters there.
6/20/02 - The Denver Landmark Commission on Tuesday (6/18/02) gave conceptual approval for portions of a planned high-rise that would creep onto a landmark site. Developers Wes Becker and Martin Wohnlich needed addition, demolition, alteration, restoration and new construction approvals to build a 650-foot tower adjacent to the historic El Jebel Temple at Sherman Street and East 18th Avenue. The developers own the temple and the neighboring property. They plan to use the funds from the tower to preserve and restore the temple. The tower is expected to include a mix of office, retail and residential space.
6/6/02 - The Stapleton Redevelopment Project was awarded the prestigious Stockholm Partnerships for Sustainable Cities Award on Wednesday for the public/private development at the former airport site. The award was established in June 1972 at a United Nations Conference on the Human Environment, which took place in Stockholm, Sweden. The award was given this year to commemorate the 30th anniversary of the conference. Denver was the only U.S. city to be recognized, along with 13 international cities. The award is considered the Stanley Cup of development competitions. "For once, we have not produced a horrible urban model - and just because you can sprawl doesn't mean you should," the jury wrote about the project. More than 250 entries were submitted from 50 countries.
5/29/02 - Developer Larry Fullerton will make his first foray into the suburbs with a condominium-and-office project that will be the centerpiece of a massive redevelopment effort in Englewood. Fullerton, known for building lofts and condos in urban settings such as Uptown and the Golden Triangle, said the project is similar to his other ventures because it's on a site that's surrounded by existing development and is designed to minimize traffic congestion. The development will be served by a new light-rail stop that RTD has agreed to add to the southwest rail line. The 32-acre parcel was recently condemned by RTD.The development will include 400 condominiums, an office building, parks and some retail space all within walking distance of the new light-rail station. As part of the plan, RTD has agreed to add the new stop along the southwest light-rail line at Bates Street. Fullerton estimates that his portion of the development could cost as much as $100 million. It will include three four-story condo buildings, five loft buildings that will range from six to nine stories and a 12- to 14-story office building.
3/27/02 - The Denver Housing Authority on Tuesday chose the development team to negotiate for the long-awaited redevelopment of the East Village site in east Denver. East Village, a decaying public housing complex with about 400 residents, eventually will be turned into a mixed-use development with a completed value of $80 million to $120 million. East Village originally was built to house athletes for the 1976 Winter Olympics, which were awarded to Denver but later turned down by voters. Existing buildings in the sprawling complex at Park Avenue West and Tremont Place will be razed. The new complex could have 500 or more market-rate units, in addition to incorporating an existing 217 units there for low-income renters.
3/22/02 - At least a half-dozen hotel developers from the Denver area and around the country are interested in building a boutique hotel at the Denver Athletic Club at 1325 Glenarm Place. The hotel could have as many as 500 rooms, but more likely would be in the 250- to 350-room range. The project would likely include retail on the ground floor, three levels of parking and luxury condos on the top floor.
2/21/02 - RTD may take light rail underground: Building a tunnel for its proposed line to the state Capitol, or possibly elevating it along Broadway, are just two of about a dozen scenarios that the transit district is considering for its Central Connector line. Putting light rail in a tunnel would cost about $200 million a mile, and building an elevated rail line would cost about $70 million a mile, about double what it costs to build a light-rail line at grade. The full line would be about 3 1/2 miles. The underground portion would be about 1 mile, if approved. RTD is looking at two routes for the line from Broadway and Interstate 25 as it heads to the Capitol, and then on to the intersection of 20th and Welton streets. That's where it would tie in with the existing central corridor line. One route would have trains running along Broadway, or a combination of Broadway and Lincoln Street. The other route would parallel the existing central-corridor line from I-25 and Broadway north to West 13th Avenue and then turn east to the Capitol. RTD transit consultant Don Ulrich said the option of an elevated light-rail line along Broadway between I-25 and 11th Avenue was offered because it would not disrupt traffic flows and parking as much as a line at grade.
2/7/02 - New building planned in Prospect area: Urban Neighborhoods has announced that the second phase of the Prospect Park neighborhood will begin construction in the fall of 2002. The Tom-Boy Lofts, a 10 story, 85 unit building will be development adjacent to the Ajax Lofts project currently under construction as part of the 500 unit development.
1/30/02 - LoDo luxury apartments planned: Denver-based Corum Real Estate Group will start construction this summer on a $42 million, 387,000-square-foot luxury apartment and retail complex near Coors Field. The project -- designed to blend in with the architecture of the Ballpark Neigbhorhood -- is scheduled to open in 2004. Units will range from 600 square feet to 1,200 square feet for traditional apartment units in the eight-story building. The project also will include eight townhomes of 1,400 square feet each on the ground floor. Shears & Leese Architects and RNL Design, both of Denver, are the project architects. M.A. Mortenson is the general contractor.
1/25/02 - Hines Interests' LoDo condo project moves forward: The LoDo Demolition Board has given perliminary approval to a plan for 400 condominium units on the site of the current Post Office Annex, which will be demolished as part of the project. The development will consist of 5 or 6 buildings, up to 12 stories in height. Hines hopes to break ground on the project in the fall of 2002.
12/6/01 - The Denver Metro area population increased to 2,626,000 in January 2001, according to the Denver Regional Council of Governments/Weld County. That is a 44,000 increase from the 2000 Census.
11/30/01 - Denver has been listed as the 5th best place to live according to the 2002 edition of the Places Rated Almanac, up from number 8 in the previous edition.
6/22/01 - According to the Fannie Mae Foundation, the Denver metro area is home to three "Boomburb" cities: Aurora, Lakewood, and Westminster. Boomburbs are defined as places with more than 100,000 residents that are not the largest city in their
metropolitan areas and have maintained double-digit rates of population growth in recent decades.
5/9/01 - First Data Corporation announced that is will be moving its global headquarters to the Denver area. This Fortune 500 company currently employs 2,600 people in the Denver area.
5/6/01 - Mountain Bike magazine named Denver as one of its 10 best U.S. cities for mountain bikers.
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