'Expanding' horizons for mechanical design
It’s an energy-conscious building that “expanded horizons” for mechanical design.
The Denver Department of Human Services Eastside Building, for which ACEC Colorado recently awarded MKK Consulting Engineers Inc. a 2013 Engineering Excellence Award, is part of the growing trend of furthering sustainability through mechanical design.
“This project gave us a great opportunity not only to help repurpose an existing vacant site with a facility that serves the …
Economic report shows that center city on upswing
The Downtown Denver Partnership recently released its latest Quarterly Economic Update for 2012.
“We are seeing steady improvement in important economic drivers for downtown Denver such as the strengthening housing market, increased retail sales tax collections, and a falling unemployment rate,” said Jim Kirchheimer, Downtown Denver Partnership senior vice president of economic development.
“The Quarterly Economic Report highlights the key fac…
Shaw Builders breaks ground on senior housing
Shaw Builders LLC is under way on a senior housing project minutes from downtown Denver’s core.
The 101-unit University Hills Senior Residences project will be a four-story, wood-framed construction built over secured, underground parking designed to provide quality, independent-living options for seniors aged 62 to 75.
Shaw Builders is the contractor for the project, located at 2775 Southbrook Drive in Denver. Also part of the project team are owner and developer The Resi…
Job growth continues to influence CRE market's recovery
Job growth will be key to Colorado Springs’ overall commercial real estate market’s recovery, according to Sierra Commercial Real Estate’s 2013 market outlook.
The firm recently held a forecast event discussing the future of the city’s retail, office, industrial and land submarkets. The outlook noted that job growth was statistically flat in 2012 and without those numbers “dramatically” improving, 2013 will continue to be a mixed bag.
The reta…
Construction starts on workforce housing in Grand Junction
A much-needed workforce housing community is just months away from helping meet the demand for affordable apartments in Grand Junction.
The Grand Junction Housing Authority is developing the Village Park Apartments, a two-phased 132-unit community at 28th ¼ and Patterson roads.
The initial, 72-unit first phase is slated to deliver its first units in July with completion by Halloween.
Read more in the January 2 issue of the Colorado Real Estate Journal.
Construction spending slips, according to AGC
Construction spending dipped from October to November, but resolution of the uncertainty regarding federal taxes for 2013 should unleash more private construction investment, according to an analysis of new federal data released today by the Associated General Contractors of America. Association officials warned, however, that unresolved issues about federal construction spending, including storm relief for northeastern states, will hold down public construction spending.
“…
State is on track for economic growth in 2013
Employment gains are expected to be broad-based, with all industry sectors except information forecasted to add workers in 2013, according to data compiled by the Metro Denver Economic Development Corp. in its Monthly Economic Summary for December.
Colorado's economy is expected to perform among the top 10 states next year, said Richard Wobbekind, executive director of the CU Leeds School of Business Research Center. Unemployment will decrease to 8 percent in 2012 and 7.4 percent…
Hyder Construction completes Elk Camp restaurant
After two summer building seasons, Hyder Construction has completed the new Elk Camp restaurant in Aspen.
The restaurant, constructed for Aspen Skiing Co., opened in time for the resort’s 2012-2013 season. Elk Camp is design to capitalize on the views that can be seen from all three sides of the building, which sits at 9,970 feet above sea level.
CCY Architects of Basalt designed the contemporary structure, which features a vast area of windows, large timbers, metal siding…
Big-box properties ready for reinvention
Change is coming to the big box, and sooner than you might expect in Colorado, according to Jeff Sheppard, AIA, Roth Sheppard Architects.
Sheppard, a principal with Roth Sheppard, which was selected by Scandinavian Designs to strategically “reimagine” a number of the contemporary furniture company’s retail storefronts, sees the firm’s efforts as the tip of the iceberg in change coming to big-box properties.
“I think reimagining storefronts and big b…
Evergreen's Elk Bridge Center sells
An Evergreen-based investor acquired a local mixed-use property steeped in synergy.
Evergreen Investors LLC paid $2.95 million for Elk Bridge Center, a two-story, 20,633-square-foot office and retail property.
“It will be a nice investment for the group,” John Becker of Fuller Western Real Estate said of the buyer, noting its local sponsorship recognized the quality of the asset, which was built in 1999.
“Elk Bridge has a good tenant mix with a good synergy fo…
Seagate Properties grows portfolio with $18.1m buy
California-based Seagate Properties continues to expand its Colorado portfolio with its latest acquisition.
An entity formed by Seagate Colorado Partners paid $18.1 million, or $62,847 per unit, for Dove Tree, a 288-unit Colorado Springs community. Dove Tree represents the fourth Front Range multifamily property Seagate has acquired in Colorado in the past 18 months.
Read more in the Dec. 19 issue.
High-profile Presidio bldg. sells in value-add play
The Presidio office building, a Class A office building in northern Colorado Springs, traded for $7.28 million, or around $90 per square foot, to a California real estate investment trust.
Netreit Inc. out of Escondido, Calif., purchased the Presidio office building at 1155 Kelly Johnson Blvd., off Interstate 25, as part of a value-add play.
“The building is one of the most well known and recognizable buildings in suburban Colorado Springs,” said Cushman & Wakefi…
AGC Colorado projections for 2013
AGC Colorado expects conservative growth for the 2013 construction industry - Colorado's sixth-largest industry - related to job growth and economic impact, according to a recent forecast event presented by AGC/C and McGraw-Hill Construction.
The forecast included an overview of the national economy, historical trends and expected activity for 12 different market sectors for Colorado.
“We expect conservative overall economic growth in GDP of 2.7 percent for 2013, with 6 pe…
Turner Construction completes two-floor fit-out
Turner Construction recently completed a two-floor fit out for KMPG.
The scope of work for the project included complete interior demolition and new construction for all interior finishes and MEP systems.
The project is pursuing LEED Silver certification by the Green Building Certification Institute.
The 38,000-square-foot space, designed by Perkins + Will out of Chicago, is located in the 17th Street Plaza in downtown Denver, also built by Turner in 1983.
Mount Crested Butte landmark sells
A Mount Crested Butte landmark sold to a local buyer for nearly $3 million.
Nordic Inn LLC purchased The Nordic Inn, a 28-unit lodge at 14, 16, 18, 22 and 24 Treasury Road, where it is upgrading “virtually everything.”
“The new owners will be good stewards of the property,” commented Jerry Jones of Prudential Commercial Real Estate. “A lot of people were interested in the property but there was no one like the buyer; a local individual who knows the…
Housing task force submits recommendations
The Mayor’s Housing Task Force has submitted a series of recommendations designed to assist with the development of a new, comprehensive housing strategy for the City and County of Denver.
Mayor Michael Hancock convened a task force of community experts in February to analyze the city’s housing inventory and needs, review current policies, and make recommendations to address affordable and market rate housing.
Moving forward, the Denver Office of Economic Development…
Colin Powell headlines AIA 2013 Nat'l. Convention in Denver
General Colin L. Powell, USA (Ret.), former Secretary of State (2001 – 2005), joins Cameron Sinclair, co-founder and chief eternal optimist of Architecture for Humanity, and Blake Mycoskie, founder and chief shoe giver of TOMS, as keynote speakers for the AIA 2013 National Convention. The nation’s architects and design industry meet June 20-22 in Denver.
The AIA Convention is architecture’s largest annual gathering to keep current with innovative design sol…
Real Capital Solutions acquires Tanager Meadows apts.
Colorado Springs’ largest apartment community sold to a Colorado-based investment and property management company as part of its strategy to acquire value-add properties nationwide.
Real Capital Solutions paid $35.73 million, according to public records, for the Tanager Meadows Apartment Homes.
“The acquisition of Tanager Meadows is consistent with our strategy to acquire value-add properties nationwide. Real Capital Solutions has a very aggressive purchasing plan ov…
Construction spending rises for seventh-straight month
All major segments of construction spending increased in October, bringing total spending to a 37-month high at an annualized rate of $872 billion, according to an analysis of new federal data released today by the Associated General Contractors of America. Association officials warned, however, that the “fiscal cliff” imperils future improvement in both public and private spending.
“Widespread gains in spending in October, along with hefty upward revisions to e…
Alliance Construction starts renovation of downtown bldg.
Alliance Construction Solutions has started renovation of the Colorado National Bank building.
Alliance Design/Build Solutions is serving as the design-builder and Alliance Construction Solutions is the general contractor for the project that will convert the historic bank building at 918 17th St. in downtown Denver into a Renaissance Hotel by Marriott.
“We are excited for the opportunity to renovate such a remarkably historic building,” said Alliance Construction So…