Sunday, February 9, 2014

CU Benchmarks New Developer’s Plan on "Do it Right at 9th" Vision

CU expects to announce the new developer in the next few weeks and also confirms that the Do it Right at 9th neighborhood vision was the benchmark used to determine the developer’s compliance with CU’s ‘intended use’ selection criteria.

See our ‘What is Right at 9th‘ page for more information on the Do it Right at 9th neighborhood vision.
More on this and other details concerning the expected timing of the announcement and redevelopment plan in the minutes from the 2/6 CBHD meeting below.
CBHD Board Meeting Minutes – 2/14
Agenda: Obtain a status update on the selection and expected timeframe for announcing a Developer/Purchaser if the remaining 9th & Colorado Blvd Campus.
New Interim CBHD Chair, Andrea Dikeou,Cranmer Park/Hilltop Civic Association Director
New Interim CBHD Vice Chair, Laurie Bogue, Bellevue-Hale Neighborhood Association President
Guest Speaker: Steve is Zweck–Bronner, Managing Associate Counsel for University of Colorado Denver
The campus redevelopment committee completed its work (about three weeks ago), and has made a recommendation of a developer for the 9th and Colorado Boulevard campus.
CU expects to finalize the contract with the developer in the next week or so.
The plan is to present the contract for approval at the next Board of Regents meeting on February 19th–20th.
Cannot disclose the name of the potential buyer, but can share a description of their profile and what their plan looks like generally.
Provided a review of the selection committee’s selection criteria:
-Intended use of the property - the Committee used “Do it Right at 9th” ( as the ‘benchmark’
-Acceptable sales price
-Assurance of closing (Financial capacity of the buyer)
-Expeditious closing time
-Few/no conditions
-Bulk sale (do not want to further divide up the sale of the campus)
General description of the developers profile:
Local developer that has done large and complex projects both locally and nationally. They have a lot of experience with mixed-use and urban development.
General description of their plan for the site:
Compared to the Do it Right at 9th ( benchmark, Steve confirmed that the selected developer’s plan has the following aspects covered:
-No big box stores
-Great architecture
-Emphasis on local businesses
-Mixed use (integrated and diverse – a mix of add’l residential, retail and office space)
-An urban versus suburban feel
-Highly walkable and bike friendly
-Integrated green space
-More reuse of existing structures
This plan is sustaining more existing buildings then either the Fuqua or the Shea plan intended to.
Based on the complex projects of this developer has done, Steve thinks the project could be built out in four years.
The goal is to close the deal this year (By end of year 2014) and the developer wants to start demolition immediately thereafter
As soon as they are officially announced it will be ready to begin working with the neighbors to lay out the plan in more detail and begin listening to feedback
The developer is also interested in “the Ash lot,” north of 11th which is currently owned by University Hospital and may be negotiated for purchase separately. The University Hospital is also interested in selling the lot.
Cannot disclose whether or not the plan includes a hotel.
Uncertain if the plan includes movie theaters.
Uncertain if the plan includes a local craft brewery.
Graffiti – CU contacted the city about cleaning up the graffiti. The city committed to getting it cleaned up. Contact Steve if additional graffiti shows up.
CU will be offering parking to the employees of Trader Joe’s north of 8th across from the new Sushi Harbor restaurant to alleviate potential employee parking in the neighborhoods
CU and DPD have increased police presence due to the number of break-ins. Additionally the buildings will be fenced off to prevent further break-ins. The fencing will be right up against the buildings.
The CBHD board would like to be notified in advance of a press release that the contract is been signed and the developer is ready to be announced.
A CBHD announcement of the news would likely be the forwarding of a press release, and in no way an endorsement.
If all goes as planned, the developer would introduce themselves at the next CBHD board meeting on March 6th (4pm). If that timeframe slips, a special meeting could be arranged.
The proposal to have developers present their plans to the CBHD board, before the final selection was made, turned out to be untenable to the developers who did not want to disclose their plans to one another.
CU had a very strong group of both local and national developers to choose from. ‘It was a tough choice.’
Summary of offers:
- Started with 15
- 5 were eliminated as partial offers
- 4 were eliminated for a variety of reasons
- 6 were strong offers at the end
- 1 ultimately rose to the top
The second or third choice could be pulled forward, if for some reason the top choice falls through.
Neighborhood updates:
Cramner Park/Hilltop:
-Trader Joes opening 2/14
-211 S. Holly (Park Burger have a beer and wine license and expected open late April/early May – additionally Adagio Bakery and an ice cream parlor)
The 9th and Colorado campus is the main focus
Trader Joes at 7th Logan
New St. Joes Hospital move in date set for Dec.
Mayfair: One of the towers at 9th & Jersey is being torn down the other two were being converted to Apartments. A senior center and memory center are coming in. The project will be done in phases.
National Jewish:
Xcel is using part of the old Gove sight (13-14th and Colorado) as a staging area for some work in the neighborhood. This may last six months. There are no plans to demolish any buildings on the National Jewish campus at the current time including the B’nai B’rith building at Colfax in Colorado.
Council President Susman: The power plant at 14th and Krameria will be going away. Due to the recent and tragic accidents, additional speed limit sign and speed enforcement have been added to Colorado Boulevard. Traffic volume problems in the area are related to the amount of growth in northeast Denver and to insufficient north south thoroughfares.
Minutes captured by: Lon Breslow, Bellevue-Hale Neighborhood Association and Do it Right at 9th Founder


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