Tag Archives: expansion

Denver News: Clear Creek Crossing Development

Ever since 2011, there has been an 80-acre site in Wheat Ridge that has gone unused.  It was originally to be the home of a 185,000 square foot Cabela’s store and showroom, but the retailer backed out of their decision to go forward building on that space.  For five years the land went unused until it was picked up by a Phoenix based real estate group called Evergreen Devco who are very excited about contributing to the area.

“It’s very well-located real estate being at the intersection of the two highways, and we love the visibility and access.  It’s an important piece of property for the city, and we want it to be sustainable for the community long-term,” said Evergreen’s Tyler Carlson.

Evergreen held a community meeting at the end of 2016 where they announced their tentative plans for the space, which was to be used for residential units, an office complex, and a Super Walmart.  Since then, Evergreen and the city have shared that Walmart may no longer be part of the plan.

Wheatridge’s city manager Goff said that “the biggest (change) is that Walmart is uncertain about whether they will be apart of the development now.  It’s just part of the current retail market.  The internet is taking over. Amazon is taking over.”  With that in mind, the city is looking for alternatives in case Walmart doesn’t come through.

Another change is in the amount of space intended for office and housing space.  Originally, 10 acres were to be used for housing and 30 for offices.  However, the revised plan now has 15 acres for housing and 25 for an office complex owned by a Denver area employer.

Construction is set to begin in the fall of this year, starting with “hook ramps” being built onto I-70, with buildings going up in 2018.  All that’s left is for the new plan to be approved by City Council and the city’s planning commission.

“It’s really not changing all that much from what we thought it was going to look like,” Goff said. “We’re excited it’s getting much closer to the finish line than it has been in a long time.”

Denver News: New Aurora Community Could House 60,000 People

Steamboat’s ski resort has enjoyed a rising level of commercial success ever since 2007 when Intrawest first arrived and made the $265 million purchase of the ski area.  This was nearly triple what the asking price was 6 years previously, and was a strong hint at what plans were in store for the resort.  The market noticed, and the real estate market erupted for both buyers and developers with sales hitting a record level of $1.5 billion.

When looking back on whether or not Intrawest was actually the cause for this boom, David Baldinger, owner of Steamboat Sotheby’s International Realty, had this to say.  “We can’t figure out if it was just the tail end of the real estate boom or if it was Intrawest.  We think it was Intrawest, because the financial crisis was underway but Steamboat had strong volume for another year. We think it was enthusiasm for a new owner.”

The trend of a resort getting a new owner stimulating the real estate market is one the high country is very familiar with.  The same thing occurred in 2002, also involving Intrawest, and Winter Park.  Then again in 2003 with the purchase of Crested Butte.

This year Aspen Skiing Co. and KSL Capital Partners have partnered to purchase six of Intrawest’s resorts including Winter Park and Steamboat.  It is expected that this purchase won’t make the same waves as earlier ones, however, largely due to the recession.  “We had locals buying condos in luxury developments purely as an investment, but it didn’t make sense given their capability if anything changed.  Then everything changed,” said Jon Wade, the owner of the Steamboat Group real estate firm.

Intrawest’s great success came to a screeching halt with the recession in 2008 and 2009.  They were forced to sell off some of their 11 resorts just to cover the debts they accrued.  Aspen Skiing and KSL intends to learn from this and use third parties for developing real estate on their 1,100 acres of slope-side land.

“We would love to see those areas developed in a responsible manner,” KSL Capital Partners chief Eric Resnick said. “But developing that real estate is not our main driver.”  Winter park has already been enjoying a growth period, with $30.1 million in sales in February alone, and the ski resort going to new owners is expected to bolster that growth according to local real estate owners.

“These guys, Aspen and KSL, they live in a world of responding to what resort and travel customers are looking for. I think they will add new fresh thoughts to the mountain and the village,” said Walter Koezbel, owner of a 1,100 acres of residential project.  “Activity begets activity, and they will take experience they have learned from their multitude of properties and they will bring new ideas to Winter Park and Grand County. It will shine a light on what we have up here.”

Baldinger summed up the mood with his statement that “I like the idea that the people in the ski business will be focusing on the ski business and the talent in the development community can focus on the development pieces.”

Boulder News: East Edge

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In December of 2016 a team of designers and developers volunteered their time for a technical advisory panel.  The goal of this panel, the Urban Land Institute Colorado (ULI Colorado) was to design a redevelopment plan for the area of East Boulder north of Arapahoe and west of 55th.  This 325 acre space is primarily used as an office park with some small industrial sites as well.  The panel was tasked by the Boulder Chamber and Boulder Area Realtor Association with seeing how this space could be used for more workforce housing. The panel took this request a step further.   They addressed a complete overhaul of the area, rather than just focusing on housing.    Their vision of this new hub of creativity would be called East Edge.  Linked with new transportation options, East Edge would be broken into three districts that mix residential and commercial use.  Existing business would continue being supported and add new ones as well.  The idea being that each of the businesses within each district would be within walking distance.  This more ambitious and extreme plan is not what many current residents had in mind.  A large scale expansion is seen by many as inconsistent their own vision for their neighborhood.  However, there are some potential benefits in this plan worth considering which may influence public opinion.

This panel envisions East Edge as a “creativity hub”.  ULI Colorado hopes to encourage the growth of new jobs here as well as housing, services, and transportation growth. .  They envision transition from an office park to a more multi-use neighborhood.

One challenge to East Edge’s redevelopment plan is in zoning.  The panel suggests that the city allow them to go beyond the current 55ft height limit in place (up to 90ft in some areas).  This would allow for residential and retail services in the same space.  Additionally, office buildings could have shops on the ground level.  Because of the area’s low ground level relative to the rest of Boulder the panel believes the view shed would not be harmed.

Another concern ULI Colorado has for East Edge, and all potential development plans, is flooding.  The entire area is located within a floodplain, and said to be in need of mitigation.  The panel suggests that the Flatiron Golf course be used for mitigation before moving forward.

The top priority of the East Edge plan is to begin by redeveloping the land between Arapahoe and the BNSF rail corridor.  This land would become one of the mixed-use neighborhoods for residential and commercial space with an interior main street.  This would have the advantage of much safer pedestrian and bike traffic.  But this is just one of many steps and details outlined for East Edge.  The entire plan is available for all citizens to see on the better boulder website, and are encouraged to do so.

Open Space Debate Continues

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The opportunity presented by the 20 acres of vacant government land is a subject of great debate.  The issue was shelved in October to reconsider proposals.  On one hand, there are those who wish for the space to be used for new affordable housing.  While on the other, many also want it to remain an open space.  But, before any decision can be made, a plan must go through four separate government bodies.   They are the county Planning Commission, the Board of County Commissioners, the Boulder Planning Board and the Boulder City Council.

The head of Boulder County Housing and Human Services, Frank Alexander, “see[s] this as a once-in-a-lifetime opportunity.”  When speaking to the Boulder County Planning Commission members, he stated: “We are truly in an affordable housing crisis.”  Alexander and a member of the BVSD are the main forces behind turning the land into affordable housing.

However, on the other side of the issue is Dave Rechberger.  Rechberger’s organization is arguing to keep the 20 acres of land as open space.  He believes that the property should be viewed as two 10 acre spaces, and treated separately.  His group has legal objections to the plans put forth.  One of which claims the school system would violate state law by using the space for a school or public use.  Rechberger’s Twin Lakes Action Group is “ready, willing and able to fight this in a court of law.”

After a four and a half hour long meeting on January 18th, a vote was taken.   Over 75 people were registered to come in and speak about the issue, with 62 appearing.   These citizens are concerned members of the community taking the opportunity to speak up.  Both sides of the issue were given voice for the commissioners to hear before voting.  In a 4-3 split, with two members of the Planning Commission absent, the land was designated for medium density housing.

It won’t be until February 15th that the Commission votes on possible changes to the current plan.    Unlike January’s meeting, all 9 commissioners will be present. .   Whatever plan is agreed upon in February will then be taken to the county commissioners.  From there, the issue will presented to a public hearing held by the Boulder Planning Board and Boulder City Council.  Only after going through all four government bodies will any plan for this land be accepted.

 

Boulder News: Envisioning East Arapahoe

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Envisioning East Arapahoe has found its way back to the city’s agenda after being shelved for two years.  Three main scenarios were created considering different goals and predictions of how the neighborhood will look in the future.

Scenario A is termed “Current Trends.”  This scenario assumes East Arapahoe will continue having small industry, with few opportunities for new office or retail space.  Additional residential buildings would be less likely to be built.  In short, scenario A plans for the least change to our neighborhood.

Scenario B is termed “Districts.”  Walnut East would extend to meet 48th St north Boulder Community Hospital with more medical related offices and possibly retail.  The area below Gerald Stazio ballfields would become “Recycling Row”.  Significant street alterations on Arapahoe including new intersections are planned to increase commuter throughput.  The Arapahoe alterations aim to facilitate transportation modalities.

Scenario C is termed “Housing Choices.”  Affordable housing is planned for between 55th & 63rd on Arapahoe.  New housing would be built within a 15 minute walk from nearby shops and places of work.  The BDT and surrounding grounds would become part of an “Art Center.”  This plan includes the highest level of street alterations.  New parks, community gardens, and public spaces are all planned for scenarios B & C.

The Transportation Plan is another aspect of the Envision East Arapahoe plan. This long term plan aims to increase all types of transportation on Arapahoe.  The plan supports the Boulder’s Transportation Master Plan and the increasing number of commuters from Boulder’s supporting communities.

These plans are likely the most impactful Boulder City intervention in our neighborhood in a long time.  Public meetings for these plans have not been set for the Envinsion East Arapahoe, so stay tuned.   The city has yet to confirm any details on Envision East Arapahoe plan, but there is a public meeting for the Transportation Plan on February 2, 2017.  The previous meeting was on December 5th.  Those who want to have their voices heard on these matters can contact Adam at adam@krollre.com to receive more details as they are available.

 

Boulder Community Hospital Expansion

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The Boulder Community Hospital (BCH) at Foothills will be getting a major expansion very soon. Early in October the City Planning Board approved Boulder Community Health’s plan. This expansion will add new facilities just east of the current campus in the Riverbend office park.

The plans are for two major structures to be constructed during the expansion. The first will be a 76,000 square foot medical building. This building will be used for services such as inpatient and outpatient behavioral health, as well as inpatient rehabilitation. Once the expansion is complete, they will begin providing inpatient care first. Only when that is complete will outpatient care will be provided. At the current time, both of these services are done out of the hospital’s Broadway campus. With this transfer of service location, the city will assume ownership of the Broadway campus by the end of 2017. The second major expansion will be a new parking structure according to the plan. The five story parking garage, able to hold close to 500 vehicles, is a direct response to a shortcoming reported by current hospital officials. The garage is designed for possible future.

This expansion is just one part of a 10 year improvement plan BCH. David Ghent, the CEO of BCH, stated that they “ developed a 10-year action plan of operational improvements and changes that are designed to keep BCH the premier provider of health care services in Boulder County.” The expansion project will help accomplish this by consolidating medical services and create newer facilities.

Commenting on the expansion in its entirety, the board chairman John Gerstle and his colleagues said it is a project they are “very supportive” of. “I think for (BCH), it’s quite clear there’s insufficient parking presently available in the new hospital area there, and this will deal with that issue,” Gerstle said, “and the building which will contain…the facilities presently in the old  hospital on Broadway — they need a place to move to once the city takes over. This will be where they wind up, which is an efficiency location, given the nearness to the other hospital facilities and emergency room. So I think people recognize that this makes sense.”

Being a non-profit facility, BCH plans to pay for this expansion in a few ways. The first will be through existing savings, and fundraising. Another source of funding is through issuing bonds. Its A-ranking as a non-profit makes these bonds very appealing to investors.