![]() An 18-story apartment complex may soon be going up in Denver at the site of a former French restaurant. Scenic Investments, based in New York, wants to build the structure, which would house 416 residential units, at the corner of Lincoln Street and East 8th Avenue. The project would also include ground floor retail space measuring 7,000 square feet as well as 137,000 square feet of underground parking. The property is well known to Denver residents as the one-time home of Le Central, a French restaurant that operated on the site from the early 1980s to 2015. In recent years, the structure has housed the Juna Salon, Gutter Protective Services, and the Harm Reduction Center. Located in the city’s Capitol Hill neighborhood, the building is one of the last structures originally built as a residence more than a century ago. Structures in the vicinity today are made up of multi-story office and apartment buildings. Scenic Investments, which was launched in the summer of 2011, specializes in multifamily and business real estate projects nationally. By Garry Boulard
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![]() Opposing parties are waiting to learn the decision of a federal court impacting the construction of a new railway that will slice through a part of Colorado. As proposed, the Uinta Basin Rail line would run for around 85 miles, connecting the Uinta Basin in eastern Utah, known for its shale oil deposits, to a national rail network. In so doing, the line, which would be operated by the Texas-based Rio Grande Pacific Corporation, would go from Grand Junction and through the Moffat Tunnel heading into Denver and beyond. Late last year the federal Surface Transportation Board gave its approval to several different route proposals for the new railway, all following in the same general direction. The project, which in various forms has been talked about for decades, carries with it a price tag of anywhere from $1.2 billion to $1.5 billion. Proponents of the railway say it will not only provide an efficient means for moving crude oil from the Uinta Basin, which could amount to around 350,000 barrels daily, it will also serve to reduce congestion on area highways, which are now used for such transport. Opponents have raised environmental concerns, wondering about the potential danger to the communities the railway would travel through should there be an accident. Officials in Eagle County have since filed a suit in the U.S. Court of Appeals for the District of Columbia Circuit challenging the STB’s approval of the project. The Eagle County action has now received the official support of nearly a dozen other Colorado counties and more than forty cities in the state. The legal action charges that in giving its approval to the project, the STB failed to look at its potential negative environmental impact, which could include the destruction of wildlife habitat and rare plants to make way for its construction. It is not known when the Court of Appeals will announce a decision in the matter. By Garry Boulard ![]() A desire for larger homes, one of the staples of American suburban expansion in the post-World War II decades, remains a potent market force, according to a new survey. Looking at the most recent consumer trends, the American Institute of Architects says that “homeowner interest in larger homes, which grew in 2021 for the first time in five years, continued to increase over the last 12 months.” The findings revealed in the AIA’s Home Design Trends Survey also indicate a growing interest in accessibility and “aging in place” designs, as well as outdoor living spaces, which include such amenities as outdoor firepits. In a statement, Kermit Baker, chief economist with the AIA, noted a post-pandemic mood among homeowners, remarking that the “fervor in demand created by homeowners wishing to have the ability to isolate at home has lessened a bit.” The Home Design Trends Survey, conducted on a quarterly basis by the AIA, reflects the most recent views of more than 300 architectural firms with a residential sector focus in their practices. According to the survey, 28% of respondents said client interest in larger homes was on the upside thus far this year; up from 19% during the covid year of 2020. Although those seeking a larger square footage in the entry level/affordable homes category was down by 12%, the real growth was in the custom/luxury/upper end home category, which so far this year has seen a 38% increase. Exactly 74% of the firms said they were seeing a demand for outdoor living space, which includes blended indoor/outdoor spaces such as kitchens that open to the outdoors, as well as glass walls. By Garry Boulard ![]() A nearly 10,000 square-foot modern medical facility on the east side of El Paso is up for sale for $4.7 million. The one-story structure is located at 7281 Alameda Avenue and has been the home to the DaVita Dialysis Center. Classified as a Class B building, the structure was built in 2017 and sits on a nearly two-acre site on a busy thoroughfare dominated by car dealerships. Listed by Matthews Real Estate Investment Services, which is based in El Segundo, California, the building includes office and clinic space, as well as a canopied drive-up. Based in Denver, the DaVita company currently has more than 2,800 facilities across the country. Those centers generally range in size from 5,000 to 10,000 square feet. By Garry Boulard ![]() A growing design company based in Rio Rancho is receiving state funding to expand its facilities. Located at 561 Quantum Road NE, the Deluxe Design company was launched in 1986 and specializes in everything from wall graphics to banners to stickers and apparel. The company is receiving some $250,000 in Local Economic Development Act funds from the New Mexico Department of Economic Development to expand and upgrade space at 3646 New Mexico State Road 528. Altogether, the new manufacturing and office space comes to around 24,000 square feet on a 2.5-acre site. The new facility will be located around 6 miles to the northeast of Deluxe Design’s current shop. The company is also receiving $75,000 in economic development funding from the City of Rio Rancho, as well as another $75,000 from Sandoval County. Altogether, the new facility project is expected to cost around $5 million. In a statement, Norman Ruth, the vice-president of Design Deluxe, said the facility will help the company respond to “the ever-increasing and innovative requests of our clients and increase our ability to do research and development of new products, services, and sustainability within the market.” By Garry Boulard ![]() Both new and existing government regulations can add up to 40.6% of the costs of the average development, says a new report issued by the National Association of Home Builders. Breaking down the costs, the survey, done in conjunction with the National Multifamily Housing Council, says that just over 11% of those costs are coming from building codes that have been upgraded or changed in the last decade. The second highest cost, at 8.5%, stems from costs imposed when site work begins. Government-imposed inclusionary zoning, defined as requiring developers to build a certain segment of their apartments below the market rate, makes up 2.7% of costs. Ironically, according to the survey’s findings, some regulatory mandates have had the effect of discouraging developers from building in the very communities where new housing is the most needed. Just under 48% of the survey’s respondents said they avoid building in areas with certain regulatory mandates, even if the community needs more housing. An overwhelming 87.5% said they avoid building in areas where rent control policies are in place. The survey report, Regulation: 40.6 Percent of the Cost of Multifamily Development, notes that the “first significant interaction between a multifamily developer and the government typically occurs when the developer applies for zoning approval to allow multifamily housing to be built on a particular parcel of land.” Those costs, at that stage, include everything from “fees owed to the local jurisdiction for proceeding through the approval process to market or environmental impact studies that must be commissioned from private consultants.” While there are instances where developers can acquire land for housing development without having to go through a rezoning process, just under 94% of the survey’s respondents said they regularly “dedicate resources to rezone the land to allow multifamily construction. When they exist, these costs average 3.4% of the total development cost.” Respondents also pointed to costs associated with overall impact fees as well as utility impact fees. Nearly 92% of the respondents said they have been required by local authorities to include energy efficient and façade design fees, while also being required to “leave a portion of the development site dedicated for government use or left unbuilt.” The survey report additionally notes that while developers regularly respond to a host of federal, state, and local building mandates, a large nearly 96% of respondents said complying with such regulations, “caused some sort of delay for their typical project.” In a press release accompanying the survey and issued by the NAHB, it was noted that “few would argue, for example, that basic safety standards for structures and workers are necessary. But when regulation constitutes an average of 40.6% of a project’s development costs, this raises questions about how thoroughly governments are considering the consequences of their actions.” By Garry Boulard ![]() A two-story structure built during the first year of the last century is up for sale in the busy border city of Nogales, with a listing price of $999,000. Located at 142. N. Grand Avenue in downtown Nogales, the structure measures just over 78,800 square feet. The building is connected to the historic Old Nogales City Hall and Fire Station, a Mission Revival-style building listed on the National Register of Historic Places. Sitting on a less than one-acre site, the structure is designated as a Class B building and features half a dozen rear bays. Business tenants in the building include the Border Pawn & Coin store, as well as the Champs Auto Parts store. In recent years the building has also been the home to a clothing store, cosmetics store, and music store, and is on a block dotted with one and two-story commercial structures. Listed with Magic Land Realty of nearby Tubac, Arizona, the building is just several blocks from the U.S./Mexico border. By Garry Boulard ![]() Albuquerque is slated to see more than $8.5 million on park construction and upgrade work in the months ahead, thanks to new federal funding. That funding is coming through the American Rescue Plan Act, which altogether is giving the Duke City around $49.1 million, the majority of which is going to homeless shelter programs and facility upgrades. But members of the Albuquerque City Council have also allotted ARP funding totaling just over $4 million for work at the Phil Chacon Park, located at 7600 Southern Avenue SE, about 8 miles to the east of downtown Albuquerque. Roughly $3.5 million will target a new park in the International District, a neighborhood located in southeast Albuquerque which is home to both many residents from other countries as well as international grocery stores and restaurants. An additional $1 million is to be spent on improvements to the Isotopes Park, located at 1601 Avenida Cesar Chavez SE. A planned community facility and gym in the Martineztown-Santa Barbara neighborhood in central Albuquerque is also slated to receive $4 million in ARP funding. Passed by Congress last year, the $1.9 trillion American Rescue Plan Act has to date funded around two dozen various projects in Albuquerque, with a funding total of more than $43 million. That funding has gone primarily for government operations efforts, infrastructure, and homeless shelter projects. By Garry Boulard ![]() The future construction of new natural gas power plants may prove less plentiful in the wake of a just-released U.S. Supreme Court decision. Ruling in the West Virginia v. EPA case, the higher court in a 6 to 3 vote said the Environmental Protection Agency lacks the authority to regulate the nation’s power plant industry. In a majority opinion, Chief Justice John Roberts said current federal law provides no authorization for agencies to implement regulations as substitutes for Congressional laws “passed by the people’s representatives.” Writing in dissent, Associate Justice Elena Kagan accused the Supreme Court of attempting to prevent “congressionally authorized agency action to curb power plants’ carbon dioxide emissions.” Continued Kagan: “The Court appoints itself—instead of Congress or the expert agency—the decision-maker on climate policy.” In a statement, the Sierra Club declared that the Supreme Court ruling has “effectively eliminated the US Environmental Protection Agency’s most effective tool for reducing climate pollution from existing fossil fuel burning power plants. This decision is deeply disappointing and dangerous.” Senate Minority Leader Mitch McConnell, on the other hand, remarked that the Supreme Court ruling has “undone illegal regulations issued by the EPA without any clear congressional authorization and confirmed that only the people’s representatives in Congress—not unelected, unaccountable bureaucrats—may write our nation’s laws.” A statement issued by the EPA in the wake of the Supreme Court ruling said that the agency will “move forward with lawfully setting and implementing environmental standards that meet our obligation to protect all people and all communities from environmental harm.” In response to both environmental and economic concerns, natural gas power plants have increasingly been coming online across the country in recent years. The federal Energy Information Administration has forecast a 27% increase in natural gas power plant capacity within the next two years, with that figure jumping to 40% by 2040. By Garry Boulard ![]() An auction is scheduled to be held beginning on July 25 for a mixed-use retail center in north Colorado Springs. Located at 750 Garden of the Gods Road, in a part of the city dominated by many one-story restaurant and retail operations, the structure measures nearly 34,200 square feet. Built in 1974, the building, sitting on a 2.3-acre site, has through the years housed a variety of tenants, including the House of Color art gallery, the Altitude Ninja Gym, and the wood working supply store called Woodcraft of Colorado Springs. For more than two decades, the one-story building served as a location for the Harloff Manufacturing Company, specialists in medical cabinets for healthcare storage. Published reports indicate that while the structure was earlier listed for sale at a higher price, the starting bid for the property is $1.7 million. Listing agent for the structure at auction is the Colorado Springs-based Hoff & Leigh realtors. By Garry Boulard |
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