Zocalo Development is planning to build a 13-story residential development in the River North neighborhood at 3463 Walnut Street.
The project will include approximately 382 rental apartments, of which 18 will be dedicated as affordable units for residents making up to 80% AMI (area median income) and, according to Zocalo, about 40% of the development’s homes will be micro-units. Adding to the project’s affordability is its location; the 38th and Blake transit station is three blocks away.
The site is currently occupied by Stone Crafters Inc., which recently sold the property to Zocalo and will relocate to a new facility in the Sun Valley neighborhood. The 3463 Walnut development site is outlined on the Google Earth aerial below.
In addition to the residential units, 3463 Walnut will also feature approximately 10,000 square feet of commercial uses located in two spaces, one facing Walnut and the other facing 35th Street. The project will include 233 automobile parking spaces located on two underground levels and on the second floor. Vehicle access is via the alley. The graphic below, courtesy of Zocalo, shows the proposed ground-floor plan.
We have a few preliminary renderings to share with you, courtesy of Zocalo Development and Craine Architecture, starting with the corner perspective, followed by the Walnut elevation, the 35th Street elevation, and the front entry detail.
The site development plan for 3463 Walnut was filed with the city in June, and a commercial construction building permit application was submitted to the city earlier this month and is still under review.
I like this. It’s going to provide a good amount of density and the height is appropriate given the future growth around the 38th and Blake station. It’s not an architectural masterpiece, but it’s solid infill and better looking than the land barges on Welton. The conservative design also tempers the Zeppelin-esque developments nearby, which I’m not sure are going to age well as tastes change and jenga tower developments fall out of favor.
Good density, attractive ground floor. Another big box, but overall I’ll take it.
How is this a box? Because the roof isn’t pointy?
It’s on a rectangular lot…but it has setbacks and it’s not shaped like a square from any angle. I’m gonna say it’s not a box. And it looks like it’s brick all over, so it could really be sharp.
I give it a YAAAAAYYYY!
Hopefully this won’t evolve into something resembling 2020 Lawrence — a Zocolo development that started off small and good but ended up big and, well, like it is.
2020 Lawrence must be one of the ugliest buildings in the whole of Denver. This may be a big box, but the brick and other design features are simple and elegant. Fingers crossed it stays that way!
Thank God they put the garage entrance on the alley side where it shouldn’t be.
Density and affordable housing? Sure. But how many of these can the neighborhood accommodate without even basic sidewalk infrastructure? Who’s going to want to walk home to a building where there are hardly any streetlights or crosswalks? I’m sure it’s on its way, but what a shame for the clubs and storefronts that brought new life to the area fifteen years ago. Reward real estate developers but not local small business owners? Sounds about right.
Looks a little 1950’s communist blockish to me. The micro unit idea has not played out well in the eyes of the largest Multifamily lenders. In fact the risk associated with the marketability has a direct negative impact the pricing and feasibility of underwriting debt. The micro units paired with the affordability is a novel idea. The problem with novel ideas is that they are costly in way or another, and in this case it will be on the post construction placement of debt.
Why on the post-construction placement of debt? My understanding is that projects like these are financed in advance of construction, and factors like unit type have already been accounted for by the time plans are submitted and approved.
Great amount of density without too much parking! There aren’t even sidewalks on the Walnut street side, so that is a huge improvement on its own.