Construction may launch next year on the building of a residential tower topping out at 37 stories in downtown Denver. The San Antonio-based Kairoi Residential has announced plans to build the structure on a less than 1-acre triangular-shaped site between the Cherry Creek Trail on the east and Speer Boulevard on the west in a part of the city lined with new office and residential structures. Plans call for a 270,000 square foot building that will house 139 individual apartment units. The site itself is currently owned by Paradise Investment Properties, which has offices in Denver. To be called the Bell Tower, the building will also include three levels of parking below surface. Kairoi has now submitted plans for the project to the City of Denver. The company had proposed a similar project for the site some three years ago, but never acted on those plans. A vertically integrated, multi-family developer, Kairoi has taken on large projects throughout Texas and Illinois and is currently spearheading the building of a 66-story mixed use tower in downtown Austin. By Garry Boulard
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Sale of Famous Casa Bonita in Lakewood Nears Closing; Plans Call for Restaurant's Revival11/17/2021 The way has been cleared to complete the purchase of a popular restaurant and entertainment venue in Lakewood, Colorado known as Casa Bonita. Located at 6715 W. Colfax Avenue in the Lamar Station Plaza, Casa Bonita is a local and even regional mainstay offering a wide variety of Mexican cuisine, but also a 30-foot waterfall, a skee-ball arcade, and strolling mariachis. The larger Lamar Station Plaza comprises more than 220,000 square feet and was built in 1969. Opened in early 1974, the entertainment restaurant, known for its pink and white stucco tower and housing a seating capacity for some 1,000 patrons, was named a Lakewood Historical Society Landmark in 2015. In early 2020 Casa Bonita closed its doors, partly due to Covid 19, and formally filed for Chapter 11 bankruptcy protection in April of this year, listing liabilities of up to $10 million. Three months ago, the creators of the popular South Park tv show put in a bid to purchase the restaurant for $3.1 million. A move by another group to challenge that bid has since collapsed. Reports have indicated that South Park’s Trey Parker and Matt Stone may put money into upgrading the 52,000 square foot restaurant, although a date for when it will officially re-open has not yet been announced. By Garry Boulard A petition has been filed in federal court asking for a review of a Covid 19 vaccination mandate earlier announced by the Occupational Safety and Health Administration. The Associated General Contractors, along with the American Road & Transportation Builders Association, as well as the Signatory Wall & Cleaning Contractors, have filed a petition in the U.S Court of Appeals for the Fourth District in Richmond to halt the OSHA action. Noting the large number of construction workers who have expressed their opposition to getting a vaccine, vowing even to quit their jobs if forced to do so, the petition notes that such a mass worker exit could result in “damage to these companies and the critical effort to reconstruct the nation’s infrastructure would be great and irreparable.” The petition further adds that the construction industry “is already facing a severe workforce shortage.” Earlier this month, OSHA announced a requirement that all employers with 100 or more employees must ensure that their workers are fully vaccinated or subject to weekly tests for Covid-19 by January 4. According to a White House press release, the OSHA action was expected to apply to at least 84 million employees. OSHA has said that the mandate could save the lives of up to 6,500 workers in a six-month time span. In a statement, Stephen Sandherr, chief executive officer of the Associated General Contractors, said that while his organization is supportive of construction workers getting vaccinations, the mandate will “put firms that employ 100 or more workers at grave risk of losing the workers they need to complete projects.” Dave Bauer, president of the American Road & Transportation Builders Association, in a statement, said the OSHA move would “disproportionately impact the same construction industry employees and workers who proved they could safely deliver essential mobility improvements during the height of the Covid 19 pandemic.” Anti-mandate lawsuits have now been filed in all twelve of the nation’s regional circuit courts, with the Cincinnati-based 6th Circuit Court of Appeals winning a lottery to hear the many challenges. Legal experts say that whatever the 6th Circuit Court decides, the challenge is likely to end up in the Supreme Court. By Garry Boulard One of the oldest operating airports in New Mexico is reviewing a plan that may allow for future facility growth. Officials with the Las Cruces International Airport, located at 8990 Zia Boulevard on the southwest side of the city, say they are in the process of updating a master plan that could result in both runway upgrading and extension work. Experts say the growth potential for the airport is almost unlimited given its proximity to the booming Spaceport America base some 80 miles or so to the north. It has also been speculated that the airport’s existing general aviation terminal may be in line for an upgrade. Encompassing nearly 5,000 acres, the Las Cruces Airport was originally constructed as a military air base during World War II, before being transferred to the City of Las Cruces in 1955. In the summer of 2005 Westward Airways discontinued its operations at the airport, resulting in the end of all scheduled passenger flights there. Two months ago, Ikani Taumoepeau, assistant city manager for the City of Las Cruces, remarked in an interview that a new commercial service could substantially add to the appeal of the Las Cruces airport, adding that it “could become a reality, if all goes well, in the next 3 to 5 years.” The master plan is currently being prepared by the Randolph, Vermont-based engineering and consulting firm Dubois and King. By Garry Boulard To provide direction for projects to be funded under the new $1.2 trillion Infrastructure Investment and Jobs Act, President Biden has named former New Orleans Mayor Mitch Landrieu to coordinate the administration’s overall infrastructure plan. In announcing the appointment, the White House said Landrieu would be tasked with overseeing “the most significant and comprehensive investments in American infrastructure in generations.” Landrieu will serve as both an infrastructure coordinator and adviser for the White House, working also with the National Economic Council. The White House noted that Landrieu, who served as New Orleans’ mayor from 2010 to 2018, was instrumental in overseeing and coordinating projects to rebuild the Crescent City after the devastation of Hurricane Katrina. “He hit the ground running, fast-tracking over 100 projects and securing billions in federal funding for roads, schools, hospitals, parks and critical infrastructure, turning New Orleans into one of America’s great comeback stories,” the White House continued. In accepting the post, Landrieu said a comprehensive infrastructure program will require “strong partnerships across the government and with state and local leaders, business, and labor.” Landrieu added that he was committed to the President’s “goals of combating climate change and advancing equity.” Some business leaders have expressed concerns over how the massive infrastructure initiative may be implemented. But according to Neil Bradley, chief policy officer at the U.C. Chamber of Commerce, in an interview with the Wall Street Journal, the appointment of Landrieu, who has a working knowledge of spearheading infrastructure projects “sends an important signal that the administration is focused on delivering on the promises and the opportunities that this bill presents.” While the funding process for various infrastructure projects will inevitably be complex, sources say that every project will be required to both use U.S. suppliers and union workers. Projects must also be designed with an eye to the impact of climate change. By Garry Boulard Both the inventory and sales price for a single-family home in metro Albuquerque saw a decline this fall, according to a new industry survey.
The Greater Albuquerque Association of Realtors is reporting that the median sales price for a single-family home stood at just under $293,000 in October, a drop of nearly $13,000 over earlier this summer. In October 2020, the average price was at $286,000 exactly. Meanwhile, single-family inventory in October dropped by nearly 14% over last October, with 890 single-family homes on the market, compared with 1,537 the year before. In many ways, the latest survey presents a conflicting take on current real estate market conditions, with pending sales showing an increase of 1.5% over last year, while closed sales were down by about 6%. The survey also indicates that would-be homebuyers may increasingly be in a mood to make quicker purchase decisions, with the average days on the Albuquerque market for any given property decreasing from 17 last year to 14 in October. In a narrative accompanying the survey, which was compiled with data from the Southwest Multiple Listing Service, it was noted that with interest rates at long last, if somewhat slowly, on the rise, “motivated buyers are hoping to lock in their home purchases to take advantage of what are still low rates.” By Garry Boulard Construction could begin by the end of this year on a 298-megawatt solar farm in Pueblo, Colorado. The project will belong to the company Lightsource BP, which is based in London and has offices in both San Francisco and Philadelphia, among other locations. By agreement, Lightsource will finance and build what is being called the Sun Mountain Farm, which upon completion, will provide power to the Minneapolis-based Excel Energy under a long-term power purchase agreement. In turn, the power produced by the Sun Mountain Farm will be used by millions of homes and businesses in eight western and midwestern states. To date, the project has gone through the site selection, preliminary design, permitting and environmental studies phase. In a statement, Kevin Smith, chief executive officer of Lightsource, said the new Sun Mountain Farms project will “further contribute to the local jobs ecosystem and tax base while delivering cost-effective renewable energy for decades to come.” Five years ago Lightsource made headlines when it launched the first floating solar project in Europe in Walton-on-Thames, England. The company has additionally launched a 300-megawatt $285 million project, also in Pueblo, designed to power a steel mill belonging to Rocky Mountain Steel. That project is seeing the installation of more than 750,000 solar panels across an expanse of 1,800 acres. Lightsource has said that it has a solar deployment target of 25 gigawatts by the year 2025. By Garry Boulard A building in the Congress Park neighborhood of Denver that has been the long-time home to a popular eatery is now being listed for sale. The one-story structure at 3100 East Colfax Avenue measures just under 5,600 square feet and sits on a roughly 0.2-acre piece of property off one of the busiest thoroughfares in the city. The site itself has parking spaces for 19 vehicles and is zoned urban mix use. Listed with the Denver-based realtor Sanborn and Company, the building is being offered for its redevelopment potential, or as an ideal place for a restaurant or bar. Originally built in 1938, the structure underwent a renovation in 2012. The property, in a part of the city with a mixture of older residential and mostly one-story retail space, has been assessed for just under $1 million. Tenant Annie’s Café and Bar, which moved to the site in 2008 after operating at another Denver location for nearly three decades, is expected to move out once the building is sold. That restaurant has long been a local mainstay and favorite of reviewers. The 2005 book Denver Dines described Anne’s Café and Bar as a “bastion of nostalgic Americana” offering a “great French toast and other diner a.m. classics all day.” The 3100 East Colfax Avenue building earlier housed a vegetarian restaurant as well as a jazz club. Reports indicate that the owners of the Annie’s Café and Bar may move to another location upon the sale of the East Colfax site. By Garry Boulard In giving a green light to President Biden’s big $1.2 trillion Infrastructure Investment and Jobs Act last week, Congress also approved a part of the legislation specific to the permitting and environmental review of federal infrastructure projects.
Construction industry leaders for years have complained about the length of time it can take to secure approval of a given project, with reviews required by the National Environmental Protection Act sometimes lasting as long as a decade. A report released in 2015 revealed that a protracted review process has the potential of adding up to $1 trillion in project costs. The Trump Administration originally established what is known as the One Federal Decision process, requiring a single federal agency to lead projects though the often-complicated government review process. That Trump decision set in motion a process resulting in a Memorandum of Understanding between a series of federal agencies on how to implement the One Federal Decision process. But in one of his first acts as president, Biden signed an executive order repealing the One Federal Decision. Now, according to the language of the new infrastructure bill, the One Federal Decision process will establish a goal of no more than 2 years for the completion of all project environmental reviews and permitting processes. An additional One Federal Decision requirement is calling for the production of what is known as a “record of decision” within 90 days of an agency concluding a project review. By Garry Boulard An operating veterans’ home in the city of Truth or Consequences may be in line for significant facility upgrades.
Governor Michelle Lujan Grisham has announced her intention to ask for an appropriation of around $59 million in capital funding for improvements to the New Mexico State Veterans’ Home. That price tag is considerably less than the estimated $95 million it would cost to build an entirely new facility, say state officials. The Governor said the improvements will result in the creation of a “state-of-the-art” facility. Those improvements are needed, she continued, “because veterans deserve respect and support,” especially “in their later years.” Located at 992 S. Broadway Street, the one-story facility was built in 1936. In recent years the building has been plagued with a number of structural issues due to its age and use. Those issues include a lack of space, poor ventilation, and bathrooms that are not Americans with Disabilities Act compliant. The Governor said she will submit her proposal during the upcoming one-month long 2022 legislative session, set to begin on January 18. As envisioned, improvements to the Truth or Consequences facility will see the construction of half a dozen residential spaces, as well as updated and modernized bathrooms. Built through the federal Works Progress Administration, the Truth or Consequences facility originally housed the Carrie Tingley Hospital for Crippled Children. When that hospital moved to Albuquerque in the early 1980s, the New Mexico Department of Veteran Services took over the facility. If the $59 million in funding can be secured, work on the veterans’ home could launch sometime next summer. By Garry Boulard |
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