LoDo Needs a Parking Solution!

By Jim Theye, LoDo District and Kentwood City Properties.

This article has been picked up by the LoDo and Downtown Denver News (monthly) and is also viewable on the LoDo District web site. 

Some additional comments are provided here by the author.

The days of bountiful, cheap parking in LoDo are over. Surface parking lots are being developed into stunning office and residential buildings at a rapid pace and no new parking reservoirs are being proposed. The parking situation in LoDo is reaching a crisis point, and an area-wide parking solution is urgently needed. Many feel that the only solution is to form a parking district, but creating a parking district will take years to accomplish. To make matters worse, no one at City Hall seems sufficiently concerned to make this issue a priority now. And, according to Joe Dolan, co-chair of the LoDo District Transportation Committee and long-time advocate for a comprehensive parking solution, the icing on the cake is the $30,000 application fee required even to start the process with the City!

But first, some background: The idea of a parking benefits district in LoDo has been around for over two decades, since before the Lower Downtown Historic District was formed. But the LoDo community can be temperamental, and gaining consensus among local property owners and moving the concept forward through the City has never gained momentum, at least until now.

Let’s examine what a "parking benefits district" is. While each district has its own structure, fundamentally it involves issuing bonds to create a new parking reservoir, which would be actively managed to offset the parking needs of individual property owners. Those property owners with excess parking could opt into the district and offer it to those with a parking shortage, and vice versa. Incentives would be used to encourage participation among owners throughout the district, so that everyone could benefit from better utilization of existing and future parking.

The key concept here is to "actively manage" parking throughout the area. This sounds complicated, but the basic idea is to establish incentives to make better use of the existing parking supply, and explore ways to create new parking opportunities, for everyone’s benefit. Consider this scenario: a large commercial building’s garage is full during the day, but nearly empty at night. So, the building owners decide to close the garage after-hours, citing that it is inefficient to operate when partially full…Under the current system, the story ends here. But, with a comprehensive parking solution in place, there would be lots more options to accommodate parking for games, events, and other evening uses.

There are several other examples: If the owner of a small, vacant lot wanted to build an office or residential building, current regulations could require on-site parking based on ratios that might be cost prohibitive, stifling the project. But if that owner had the option to participate in a broader parking solution for the entire area, all of LoDo might benefit from the better utilization of a vacant lot. Few would argue that restaurant valet companies could make use of after-hours garage parking rather than aggressively dominating on-street parking during most evenings. And then there is employee parking for the nearly 70 bars and restaurants operating in LoDo. Restaurant consultant John Imbergamo estimates that over 500 employees per work-shift park in or near LoDo on any given day.

According to longtime LoDo property owner Bill Saslow, financing these districts is complex, and the bonding component of the parking issue is enough to make your eyes glaze over. But, in a nutshell, by issuing bonds to pay for a new parking structure in LoDo, payments from developers or property owners that need parking would be used to amortize the bond, much like a water district or other utility. Bond financing is generally tax exempt, enticing potential developers with preferred financing rates.

Parking pressures have been mounting over time in LoDo and, recently parkers have begun losing access to surface lots as construction starts on infill projects (think about 1401 Wewatta and Sugar^3). And these lots are not just going away for surface parkers, but they are also ‘off the market’ as potential sites for a new parking facility. By the time construction commences on the first wing buildings at Denver Union Station, a true parking crisis will be upon us.  We are also loosing surface parking lots at 18th and Blake and 19th and Market.

A few undeveloped land parcels remain in LoDo that could host a centralized parking structure, but the time to act is now! The ideal location would be within about 2 blocks of the 16th Street Mall and large enough to accommodate the ramping and egress required for an efficient parking design.  The Market Street Station may hold the most promise for a new parking reservoir – when RTD relocates from that site in about 5-7 years.

If the City supported a parking district and a new parking structure was planned, any proposed buildings must receive approval through the Lower Downtown Design Review Board, or LDDRB. This group oversees the design review process for the historic district, and has done a great job monitoring the quality and consistency of architecture throughout Lower Downtown.

So what are the other possible solutions to the current situation? The debate over this issue is rich and, as with all complicated matters, it will take considerable effort, consensus, and political will to make any broad solution a reality. Your comments on the LoDo parking dilemma are welcome – please e-mail us at info@lodo.org .

you can log onto the website experiencedowntowndenver.com and print out a sheet with all the parking locations in LoDo.

There have been several articles recently about cost overruns on the FasTracks program.  One recent estimate put the actual cost to complete the installation at somewhere near 65% over the original $4.7 billion estimate.  However, RTD thinks that this number is high, and all parties have agreed to bring in consultants to do a thorough review.

Front range voters originally approved $3.95 billion to create a true multimodal transportation hub at Denver Union Station (across the street from Kentwood City Properties!) but the actual cost at the time of completion was expected to be about $4.7 billion.  The recent look came back at close to $6.5 billion which is an unexpected and unacceptable budget.

The list of names supporting the re-evaluations is significant.  The Downtown Denver Partnership recently sent out one of their Advisories in which Mayors throughout the front range as well as Hispanic chambers, Chery Creek business district, and many other express their support for the new study and committ to keep the process moving forward.

There are many transit oriented developments that depend on FasTracks and the rail stops that will accompany the network of transit lines. 

This is an exciting time and worth our attention as this process moves forward.  Stay in touch with Kentwood City Properties to learn about the TOD opportunities that emerge.

Urban Neighborhoods, the development group of Dana Crawford and Jack Crawford, yesterday announced the sale of their remaining Prospect Place parcel to Trammell Crow Residential (TCR).  The rising costs of development was cited as influencing the decision to make the sale.

A flyer was circulated to current owners in the Ajax Lofts, the first and only building of the 8-building Prospect Place development planned. 

It sounds like TCR plans to build an upscale rental project.  The appartments could be built relatively quickly, possibly within a 2-year construction cycle, which could minimize impacts to the current residents at the Ajax Lofts. 

The Prospect Place site is located just north of 20th Street, west of Coors Field.  While not officially a Transit Oriented Development site, the project site is located within a half mile of Denver Union Station and LoDo.

A meeting was held February 5th to get community input on the alternatives at hand for the Goldline route through the Highlands neighborhood.  Approximately 200 concerned neighors attended.

According the RTD planners, if a street car is selected for the route from Denver Union Station through the highlands neighborhood to 52nd and Ward Road, that street car would become mired in traffic jams.  This is the situation that we are trying to alleviate bu adding the mass transit in the first place. 

the reil alignment through the Highlands has brought controversy since it impacts the homes within several blocks of the route. 

RTD planners have expressed support for the railroad alignment over the street car option because of expected increased ridership, quicker projected commute times, and fewer impacts during construction.  This option is also closer to more employment opportunities than the rest of the alignment alternatives proposed.

A preferred alternative for the Gold Line Corridor is scheduled for this spring of 2007. 

]]> http://blog.kentwoodcity.com/uncategorized/fastracks-gold-line-through-the-highlands-neighborhood-update/feed/ 0 http://blog.kentwoodcity.com/uncategorized/kentwood-city-opens-door-to-union-station/ http://blog.kentwoodcity.com/uncategorized/kentwood-city-opens-door-to-union-station/#comments Fri, 09 Feb 2007 04:20:51 +0000 admin http://kentwoodcity.kineticblogsites.com/uncategorized/kentwood-city-opens-door-to-union-station/ Open House Marks New Entrance, Expansion

We are very excited about our new front entrance. After being under construction for over 2 months our office is now looking better than ever. We have a fantastic street apeal and are much easier to access! This is an article published about our new success! Check it out!

(Denver, Colo. – January 25, 2007) Kentwood City, along with nearly 1,000 of their clients and friends, celebrated a different kind of opening last week – a door opening.

The brokerage firm has long been located at 1660 17th Street. After growing to nearly 40 brokers this year, Kentwood purchased the entire first floor of the building in July 2006.  Subsequently, managing broker Jim Theye launched a significant renovation project that’s led to a much larger office and a new entrance on Wynkoop.  Facing Union Station, the new entrance opens the door, and the possibilities, to the new development of Denver’s hub.

“The Wynkoop side of our building has long been ignored,” said Theye. “Now with Union Station’s redevelopment, it will be the center of LoDo activity and we’re excited to be a part of that.”

In addition to the new doorway, Kentwood City added 3600 square feet to its first floor offices, adding room for their growing team.  The firm added ten brokers in 2006, and saw 40 percent growth in total closings, bucking the downturn trend in the overall Denver housing market.

To celebrate, Kentwood rolled out the red carpet – literally. The Wynkoop Street entrance was given its very own VIP treatment, complete with flashbulbs and spotlights visible far and wide.   And the real estate celebrities of Denver came out to celebrate.   

Kentwood City has long been associated with Denver’s most high-profile real estate projects, and 2006 was no different.  Roger Pecsok of Continuum Partners, part of the team selected to redevelop Union Station, attended the gala on Thursday.

”We have a long working relationship with Kentwood City, said Pecsok. “This new space is not only beautiful but its physical presence in the heart of LODO is symbolic of Kentwood’s position in the marketplace.”

Also in attendance were the great diversity of Kentwood clients ranging from multi-unit developers, to long-time clients, to first time homebuyers. Theye estimated about 1000 attended the opening. 

“As a new broker, I was thrilled to see hundreds of past and current clients at the opening,”  noted Mike Rivera, who joined the Kentwood City team with wife Melody in October. “It’s exciting for us to see the energy and excitement around the new offices, and the continued growth of LoDo.” 

 “The urban center of our city is growing,” noted Theye. “Our office had a record year despite some gloominess in the market.”

Theye, also past president of LoDo District, Inc., made clear that he is committed to the growth of his firm as well as the growth of the downtown community.  With their larger offices, Jim and his team created a (NUMBER) square foot board room which will be made available to neighborhood and community groups.

 “Our brokers share a vision for LoDo’s renaissance, reflecting a mix of retail, restaurants, residences and business.  With the revitalization of Union Station, we believe this building will continue to serve as an important entryway into lower Downtown, as it has since the birth of Denver.”

Architects Chris Shears of Shears Adkins and Jim Bothwell of Bothwell Davis George Architects collaborated on the redesign of the space.

Vistit our on-line website at www.kentwoodcity.com!

The Rocky had a good article yesterday on the status of the FasTracks project to develop the rail and bus network out of Denver Union Station (DUS).  This is a key project for LoDo and central Denver, and I follow the project progress with great interest.

The West Corridor route is key because, as I understand it, this is the first new route which will be delivering passengers into DUS, and thereby drives the schedule for the preparation of DUS to receive passengers and become operational.  RTD says they can deliver this route ahead of schedule and has moved the scheduled completion of the West Corridor route forward by one year.

Challenges to the project include EIS studies, sales tax revenue shortfalls, and legislative action needed to smooth negotiations with railroad companies.  Still, the project sees progress, and RTD has much to show for 2 years worth of work and effort.

The Rocky article details the original plan, current status, and relative impacts of budget, planning, and delays on completion of each route.  Check out the article with the link below.

Kentwood City Properties is located right across Wynkoop Street from the Denver Union Station, and we follow this project with interest.

despite the cold temperatures, hundreds attended the recent lighting of the tree in front of Denver Union Station.  It was a great event.  LoDo District sponsored the event.  Kentwood City Properties also held their new office (currently under construction) open for neighborhood friends to see.

Despite the cold, and the competing event at the Denver City and County Building, hundreds came down to watch the lighting at DUS. 

It signalled a momentus time in the history of the building.  Only recently, the proposal from the deelopment team of Continuum Partners and East West Partners was selected.  Continuum and East West have formed a new company called Union Station Neighborhood Co. to do the development.

Kentwood has a sign congratulating the Union Station Neighborhood Co. in their temporary doorway. 

despite the cold temperatures, hundreds attended the recent lighting of the tree in front of Denver Union Station.  It was a great event.  LoDo District sponsored the event.  Kentwood City Properties also held their new office (currently under construction) open for neighborhood friends to see.

Despite the cold, and the competing event at the Denver City and County Building, hundreds came down to watch the lighting at DUS. 

It signalled a momentus time in the history of the building.  Only recently, the proposal from the deelopment team of Continuum Partners and East West Partners was selected.  Continuum and East West have formed a new company called Union Station Neighborhood Co. to do the development.

Kentwood has a sign congratulating the Union Station Neighborhood Co. in their temporary doorway. 

Ice House began as a turn-of-the-century creamery in downtown Denver and was built with industrial design and function. This building, with skilful and beautiful masonry work, was a fully functional cold storage warehouse for eighty years.

Today, this 90-unit project features sunny living spaces, roof decks, unobstructed views of the mountains and city, timber and concrete construction and warehouse architecture.  Ideally located right downtown, living at Ice House means you can take advantage of some of the best restaurants, shopping, and nightlife that Denver has to offer. You’ll be right next door to Union Station, so you can watch the trains and enjoy the ease of Lightrail too.

To find out more about Ice House, visit www.kentwoodcity.com. 

Denver Union Station will be the crown jewel of the entire FasTracks region-wide transit system. Continuum East-West Partners have created "The Three F’s" to help Denver citizens realize the potential of the Union Station redevelopment. Continuum East-West Partners will deliver preservation and renovation of historic Denver Union Station by 2011 .

| The Three Fs |

For Fully Realizing Union Station’s Future

Flexibility | The Continuum-East West Partners team crafted a solution that fulfills today’s and tomorrow’s transit needs. This solution allows for light rail to evolve as metro Denver grows.

Financial Feasibility | The Continuum–East West Partners plan offers the only financially feasible model. Risk is eliminated and public obligations are reduced. The financial structure of this plan ensures speed and certainty.

Focus on the Pedestrian | Great streets make great cities. The Continuum–East West Partners plan creates vibrant public spaces that make the city live and breathe. This plan recasts the landmark station as an active and lively destination, and respects the unique character of surrounding neighborhoods.

www.unionstationnow.com