The East West Partners and Slifer, Smith and Frampton – Denver office has always had the best model in Denver and now it’s even better! On Tuesday, Archetype 3-D came and added 13 buildings to the model. Some are buildings that have been up for a few years like Waterside Lofts and others are brand new buildings that are about to come out of the ground. Four new apartment complexes have been added and look fantastic. These include the AMLI project on 20th and Little Raven, City House at 18th and Chestnut, Cadence at 17th and Wewatta, and Delgany Lofts at 15th and Delgany. Our model is a great way to get a feel for Denver from a birds eye of view. It is amazing how much growth has happened over the past decade and what is still to come with the Union Station Neighborhood. If you haven’t been in our office to see it, I would highly recommend putting it on your to do list.
East West Partners-Denver sold the piece of property located on 20th and Little Raven to AMLI on 12/30/11. The 2.67 acre property sold for $9 million. East West had determined that this parcel in Riverfront Park was best suited for rental units instead of high end residential. AMLI, a Chicago-based developer, has projects nationwide and has a shown much interest in the Denver market. They also just purchased some land around Interlocken. The project planned for Riverfront Park will be a 242-unit apartment building. The apartment market in Denver is very strong and there are several new project planned to happen over the next year. Tami Door, President and Chief Executive of Downtown Denver Partnership, said there is a trend of young professionals migrating to city centers. “One thing we know for sure is that 25- to 35-year-olds nationally are making major movements into urban centers, and they’re desiring to live within 3 miles of an authentic urban city,” Door said. “Denver’s growth is exponential in attracting that particular age group. There also is a trend that more people are choosing to rent rather than buy. It gives them great freedom.” With the trend of young professionals moving to the city, experts are confident that these units will be absorbed quickly and the market will not be overbuilt. To read the Denver Post article about this, click here.
The digging on the second half of the bus tunnel is underway. The excavation work will go through the end of this month and you can see the pile of dirt getting bigger by the day. Once the excavating is finished, the concrete work will begin on the substructures and walls. In another few months the second half will be connected to the first half of the tunnel already completed.
This morning I attended the opening ceremony for the new light rail station at Union Station. It was great to see community leaders, Denver residents and business people gather to celebrate this great accomplishment. The project took about 18 months to complete and it came in on budget! The new station and 16th Street Free Mall ride being right at the base of the Millennium Bridge is so great Denver and all of the Riverfront Park residents. Additionally, the 18th Street Pedestrian Bridge also known as the Union Gateway Bridge is now linked to the light rail platform. The traffic on that bridge will significantly increase now that the Light Rail station is complete. This is a great accomplishment for the city and the first step to making the Union Station redevelopment a reality. If you’re downtown, I suggest going and checking it out, it’s amazing how much has changed in only 18 months!
In the week since the Light Rail was taken out of Union Station, they have already removed the tracks! The progress was so fast. It will be great to have a safer way for pedestrians to get from the base of the Millennium bridge over to Union Station. The other big improvement of the week was the vents into the bus station. The three vents are now in place and look really cool. One is an exhaust vent, the second is an air intake vent and the third will be an emergency exhaust vent in case of fire in the terminal.