Greetings, Downtown Denver infill fans. Sorry for the lack of posts lately, but I’ve been out of town on business in the Portlands (Maine and Oregon—two great places to have to travel to). Nevertheless, things are well in the Mile High City. Not only are the Rockies the National League champions, but construction is at an all-time high in Downtown Denver: Four Seasons, Sugar-3, 1755 Blake, 1800 Larimer, One Lincoln Park, 1515 Wynkoop, 1400 Wewatta, 1200 Elati, 816 Acoma, Denver Justice Center, Zi Lofts, 2120 Market, plus many other projects in the Downtown districts are climbing skyward.
Many of you have asked about the Spire. Don’t fret. The Nichols Partnership is a sophisticated development firm and negotiations are in the works on a replacement for their construction loan. But securing a $160 million-plus loan takes time and it’s reasonable that construction activity at the site takes a pause in the interim. It’s only a matter of time before all the “i”s are dotted and all the “t”s are crossed on a new loan, then we’ll see construction resume. Hang in there.
I’ll leave you with this: the latest photo from on high—courtesy of Bob—of the activity at the Four Seasons site:
Hi Ken:
Thank you for the update (especially on the Spire – that would be one of the best projects for downtown Denver, a fantastic hi-rise not exclusively for zillionaires)
I was thinking, I used to live in Seattle and I remember one complex in Bellevue (a suburb) called Lincoln Tower that had problems that might have been similar to the spire and they had to halt construction for about six months, but eventually the project was finished, late but finished.
what i'm thinking is that situations such as this might be more common that we might think, but the project usually eventually gets completed. Let me know if i'm wrong please and i will stand corrected.
Thanks for the reassuring words on the Spire WebMaster – good luck to the Nichols Partnership in securing new financing. Though intended as a condo building, would it help them get financing if they open it as a rental building instead? As lenders tighten their loan parameters, there might be fewer buyers for condos, but the rental market may increase.
Also, I recently strolled by 1400 Wewatta to see progress one evening and noted that the Steelbridge Lofts Annex building is totally dark – it's a great looking building – but has it ever been occupied?
You'd think they'd put a sales site and update that website of theirs on pricing and floorplans and such! Then they could at least get some presales. Or maybe I'm just being an ox and there is a sales site somewhere?
And what about Embassy Suites across the street? Are they planning on starting anytime? The big block of dirt that the Motor Hotel left isn't the most attractive thing to have right next to the Convention Center.
Ahh sigh. Although a great and inspiring picture, I would love more than anything to have an updated Spire photograph. I can surely make do with this for now, though. Let's get a twin 'scraper up across the street in 1401 Lawrence!
Wow it looks like it did about 2 weaks ago. Great progress guys!
The Four Seasons is definately on the high speed burn—there will not be any hold ups with this project, unless of course we have a very cold and snowy winter, which could prevent construction a bit, but otherwise it looks liek they are moving fast.
I anticipate the hole in the ground to be totally dug out by a month from now, at which point we will start to move back upward. A year from now I hope the building is at least 20 stories off the ground, i don't see that being too far fetched… ken?
Its pretty narrow so i don't see that being to impossible 1:58
I thought it was interesting to see the 1401 Lawrence site just across the street…look how small the lot is in comparison to the Four Seasons. Hopefully we will see a tall, (really) slender building go up there soon. I am sure there are plenty of economically immune rich people to buy there.
Even if the 1401 project is eventually derailed, then maybe the shiny new presale office can at least be converted into another exclusive and hopelessly pretentious night club. It'll be called LYONARRAZZA or some garbage. It'll feature a fusion of Brazilian and Mongolian cuisine, and it'll change our lives.
First – it has changed a lot in the last two weeks.
Second – I still struggle to understand what 1401 Lawrence is doing. They have been building that sales center for weeks now, and just when I thought they were going to open… they were painting it again today for what must be the fourth time. Can someone explain why they have put such an incredible amount of time and resources into building this, only to tear it down? Why wouldn't they do what the Four Seasons did and just rent a place out? There are a number of reason why I think that is a much better plan, one being that the Four Season has started construction, yet still has a sales center – where 1401 Lawrence won't be able to do this.
Just some thoughts… anyone care to offer some incite?
i am going through SSP withdrawl, whats going on with the site?
Anon 06:17:00 I spoke w/ the girl a few months back because a few family members of mine were interested in one of the condos. She said that it will definitely start in January. They have plenty of time to sell, they obviously own the property and they have to be doing pretty well if they can squander resources on a sales building that intends to be torn back down.
yeah the whole 1401 sales center thing has been a joke. THEY HAVE BEEN BUILDING THAT DAMN THING SINCE APRIL??!!?? initially they said that it would be open for "advance viewing" this summer, and would completely open to the public in early fall. Obviously, none of these things have happened? with all the empty spaces around downtown, you would think it wouldnt be hard for them to rent out a space for a sales center….
I know it will only take a week to tear that thing down but, after that you cant sell shit anymore…
i just dont get it…
Not a clue about SSP.
Migrating to the comments on ken's blog!
Anon 9:15PM, you have a lot of anger over this, perhaps you should look at taking a valium.
If any of you have taken the time to research the developer of 1401 Lawrence you will find that this is not some fly by night corporation. They have PLENTY of money and backing. So that is why they are taking the time to build a sales center.
They chose not to do the typical trailer. They chose to actually build something. So what? Why is that of any importance to us? This was a corporate decision. If I had their money and I was going to sell top of the line of condos AND I had hefty competition across the street. I, too, would take the time to build something fancy and I'd take my sweet time making sure it was perfect. I wouldnt care about tearing it down afterwards either.
I believe that 1401 Lawrence will break ground sometime in the spring. Now chill out and go look at some downtown cranes!
Yeah 9:15 just marinate and watch some cranes
I received an email from the 1401 sales team saying that they are almost finished with the sales office. They mention that they are building a model suite inside the sales center. I imagine that may be the reason for the delay in its opening.
^^^You're a crane. 😛
You do have to wonder about how 1401 is going to be affected by the mortgage crunch. The developer (Great Gulf) is primarily a track home builder, if anything is going to hurt this building it's that. It is probably more sensitive to the current credit fallout than any other project in Denver.
please forgive my ignorance but will someone tell me what SSP is (i'm not big on initials)
Also, this is a great web site and Ken is a great web master. Let's not ruin it by not acting like gentlemen (and ladies). Please let's cut the personal put downs !
There is an article regarding the legal/financial situation for the Spire in the Post today:
http://origin.denverpost.com/business/ci_7225380
Randy Nichols is now suing Hypo Real Estate Capital Corp. for not funding the loan. I believe Brownstein Hyatt Farber Schreck, the attorneys for Nichols are principal investors in the Spire development.
SSP = skyscraperpage.com, a lot of us hang out in the mountain west forum on that site. Although it's been down for several days at this point.
It looks like Nichols made a huge mistake from Spire. Launching the project before he actually had money.. without knowing many details (although I've been involved in several similiar funding deals), my guess is that he's going to recoup very little from Hypo.
Actually I dont think he did make much of a mistake. Hey banks pull out from time to time.
I'm very happy that he put his foot down and made sure that this will not turn into an investment building.
I look at some of the projects in places like Miami and San Diego where the units sold, but mostly to people that are just going to flip them. Well what good is a sweet building like Spire if no one lives there because it was bought up by a bunch of investers looking to make a profit, not a better hood in our wonderful downtown.
Can anyone explain what this is?
http://i207.photobucket.com/albums/bb84/SnyderBock/940057481_0daa36b3d5_o.jpg
I got it off skyscraperPage forum.
http://forum.skyscraperpage.com/showthread.php?t=132788
Aaron, he actually did make a mistake in that he pushed forward on a major project prior to having a 100% green light. That in itself is poor business and is a disservice to the investors who outlayed down payment $$ that they may never see again.
I wonder though if he was told to go ahead and start construction by the bank. He has developed other properties in the past and isn't dumb. I'm betting there is more to this story that what we are being told.
Wow this lack of blogs says it all. I think Denver has reached its max as far as its surge of proposals and development. Bummer
:{
Looks like the Union Station project…
I don't think the infrequency of posts on Denverinfill.com is the best way to judge the downtown Denver development market. Let's be real about this and show some patience.
8:33 i know thats what it is! I know the name because it says it in his forum. Can you elaborate on the works of this whole thing? Who's doing it? Is it alive? When shall it break ground? Those sorts of things.
A recent article in the Denver Post or Rocky said that in order for Nichols to receive the loan, the Spire had to be under construction. It sounds like a Catch-22. I think that the branch in NY that approved the loan didn't bet on Germany not approving the loan, which had only very rarely happened before.
Man we r bn brats now talkn bout lack of blogs, proposals, and projects name another city the size of denver metro with as many projects & proposals then halla back!
Hi all. I've been out of town 12 of the past 13 days and extremely busy overall the past couple of months. That explains the lack of blogs. My apologies.
Having said that, there also has been a noticeable decrease in the announcement of NEW infill projects, but steady groundbreakings of already announced projects, both of which I think are a good sign
Right on Ken, Maybe you could give us some information on the Union Station "Neighborhood" The rendering i got from the skyscraperform (in the link above 10/22/2007 11:01:00 AM) shows the rendering. What do you know about that?
Here anon 11:10, Union Station Master Plan:
http://www.denvergov.org/Transportation_Planning/DUSMasterPlanDocument/tabid/395523/Default.aspx
Anon 4:09pm – I would have to say that Philly is doing a lot of Urban rivaval and has three skyscrapers under construction right now (I just got back). It remeinds me of Denver 15 years ago when lots of areas were still a little run down, but had plans to rebuild. Check out the Comcast Building which will be the tallest building at 57 stories (975 ft). The population is a more than here, but the downtown is about the same size.
http://www.bdcnetwork.com/article/CA6316243.html
Great city to visit as it goes for poor and run down to beautiful.
Anonynmous 11:01 check this out too.
http://www.unionstationdenver.com/data/images/update/pageimage.jpg
Anonymous 11:01 I think there's something about this project that is just going to totally turn the city around. The glass work with this, 1900 16th, 1800 Larimer and 1401 Lawrence is going to give this section a different look and feel. Especially in the winter. It just amazes me that the activities in downtown denver just keep expanding and expanding.
Man…. I wonder if they will ever build that trango tower??? or even the trump tower for that matter…. we need just one huge super sweet tower here!
that being said .. the ones in the pipe are pretty sweet !
True that 10:50. I bet Hines reopens the 42 storey project. He's talked a lot about it. As this city continues to get more small to medium sized projects, there will be a lot of attention to get bigger things here. I'm sure trump will get his here but I doubt we'll see the Trango come about. The visionary behind Trango is six feet under and unless his kids persue his dream, its not gonna happen.
Don't be bummed out we still have Mr. Gellers building and Mr. Mc Clintocks building, embassy suites, great gulf group, the 1000 speer building, museum residence h & c, 8th & acoma, the entire union station project, DAC building, tabor two, city house, the lawrence hotel, the mandrian, civic city park project, phase two of the lincoln one, sugar 3, the pinnacle one and two, and the talks of a new signature tower in the air, and the spire shall rise there just giving the lincoln one a bigger head start. And many other projects going on, look around denverites we are surely in the midst of a lovely time to be here and watch OUR city grow up!
I know! some of the projects are awesome! especially since I moved here from good ol Kansas where the 22( I think) story "epic" center (ha ha 22 stories is not very epic) is the tallest in the state! It just seems that we will soon have alot of 35 – 50 story buildings and just one nice signiture would really make us stand out! that being said I look at the Pheonix downtown who has more population than us and our buildings crush theirs!
Thats true Phoenix is bunk for buildings.