Denver, Colorado 2021-09-17 08:00:56 –
Broe Real Estate Group recently started construction on a new office building at Cherry Creek.
We are currently considering the possibility of demolishing an existing building about 0.5 miles away and building a housing project there.
A division of The Broe Group based in Denver, the company is located on a 1.4-acre site opposite the eastern end of Cherry Creek Shopping Center, 50 S. Steele St. Requested the city to rezoning its real estate.
It has a 10-story office building built in 1973 and a large parking lot. However, Blow is asking the city to increase zoning to the C-MX-12. This allows for structures of up to 12 stories.
“Applicants are requesting property rezoning to facilitate mixed-use redevelopment of the site. Their tentative plan is mixed-use with ground floor retail stores and residential units. Is to build a building in the city, “a document created by city officials.
The Denver Planning Committee recommended approval of the request on Wednesday afternoon, with all seven members voting in favor. The problem now goes to the city council.
According to property records, Blow has been at least 50 S. Steele St since the 1990s. I own the property.
At the top of the building is the Keller Williams Integrity Real Estate and Law Firm Riggs Abney sign. Other tenants include Nova Home Loans and Sonder Centers.
In its rezoning application, the company began talking to the surrounding community about possible changes in 2019 and 2020, saying it resumed those efforts this year “after a brief pandemic-related break.”
“Strengthening the surrounding cityscape and pedestrian network is just a few examples of stakeholder-led feedback to enhance the development impact on neighboring structures,” the company writes.
The application notes that some nearby structures are on the 12th floor and above. However, the property just north is zoned to just five floors.
Denver developers do not currently need to incorporate income-restricted units into their new housing projects, but they are subject to change soon. However, according to a document produced by city officials, Blow has agreed to voluntarily limit 12.5% of the site’s new housing project units to units that account for up to 80% of the region’s median revenue.
According to the document, Blow plans a project of about 480 units, which means there are about 60 income-restricting units. The project development plan has not yet been submitted to the city for review.
Broe also agrees to a “Good Neighbor Agreement” with the Cherry Creek East Association. The three-page document states that the average unit size of the new building will be at least 900 square feet.
Steve Silver, a board member of the Cherry Creek East Association, told the Planning Committee Wednesday that Blow was “very deeply involved with the community” and “very open about their plans.”
But that doesn’t mean there is no opposition. According to Silver, 130 people responded to a survey compiled by the association, with 57% not supporting rezoning so far.
“I don’t think it’s exactly an anti-development sentiment,” Silver said. He said members of the association were in favor of other recent rezonings, including one approved last year for two long vacant lots at the eastern end of Cherry Creek along Colorado Boulevard. ..
A lawyer representing a nearby apartment complex told the board separately on Wednesday that the owner and its residents were concerned about the impact on the parking lot.
“It’s our intention to park 100% on the premises,” said Marc Savela, vice president of development at Broe, saying the housing project is still under planning.
All members of the planning committee who attended Wednesday supported rezoning, but some expressed some concerns in advance.
Fred Glick said he was somewhat uncomfortable with good neighbor agreements, especially those that regulate the size of housing units.
“I’m worried that a good neighbor’s agreement could be used to shake people who can live in a particular neighborhood,” Glick said.
Meanwhile, board member Ignacio Correa-Ortiz said the voluntary commitment to affordable housing has not been sufficiently advanced.
“I believe 80 percent of AMIs aren’t ambitious enough,” he said.
Blow’s local housing projects include Country Club Towers II & III and a twin 32-story apartment tower completed in West Wash Park in 2017. The company has extensive development outside the Denver area.
Broe’s headquarters are adjacent to 200 Clayton St. and launched an eight-story office project last month.
Broe looks to replace Cherry Creek office building with residential project – The Denver Post Source link Broe looks to replace Cherry Creek office building with residential project – The Denver Post