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BMC Investments developing Hyatt House at Fitzsimons

A 140-key Hyatt House hotel will provide a new lodging option in the Fitzsimons area. BMC Investments is developing the hotel at the southeast corner of East Colfax Avenue and Peoria Street in Aurora. It has owned the site, known as the Gateway at Fitzsimons, since 2013. “Fitzsimons is one of the fastest-growing hospital campuses in the country, and with the expansion of the UCH Hospital, the veterans (medical) center ramping up and continued growth of Children’s Hospital, there is significant demand for an extended-stay hotel,” said Matt Joblon, CEO of BMC Investments. “We were inspired by the opportunity to provide families a comfortable place to retreat to while facing the challenges that can be presented when seeking medical attention for loved ones.” The hotel will be one of the first opportunity zone developments in the Denver metro area. To qualify for opportunity zone benefits, BMC intends to hold the property at least 10 years. The project is being capitalized with a $25 million, 10-year fixed-rate construction to permanent loan from FirstBank, a $6.45 million redevelopment/ reimbursement agreement with the city of Aurora and equity from BMC. It is anticipated to take approximately 17 months to complete. “FirstBank has an…

Jill Jamieson-Nichols

September 20, 2019

Ivy Realty pays $8.75 million for value-add buildings

Ivy Realty added to its Boulder portfolio with the $8.75 million acquisition of two industrial/flex buildings that it will reposition as creative office space. The buildings at 5300 and 5306 Sterling Drive total 46,702 square feet. They are located adjacent to 5360 Sterling, a building Ivy acquired last year, transformed into creative space and leased…

Jill Jamieson-Nichols

September 19, 2019

OZ Architecture designs Nancy Richardson Design Center at CSU

OZ Architecture led design on Colorado State University’s Nancy Richardson Design Center. The $19.2 million, state-of-the-art project covers 45,000 square feet and will further CSU’s mission as a national leader in design. Salt Design in Fort Collins assisted OZ with the design while Saunders Construction was the general contractor.

Kris Oppermann Stern

September 16, 2019

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Building Dialogue

Engineers overcome intense conditions to rebuild Pikes Peak Summit House

Crews are in the second year of construction of the new $56 million, 38,000-square-foot Pikes Peak Summit Complex, a three-building campus consisting of a visitor center with dining and rooftop terraces, observation decks and interactive displays, and a high-altitude research and communications center.

Building Dialogue

September 16, 2019

CREJ Quarterlies

Modest supply to keep rental gains stable

Entering the second half of 2019, the tight labor market remains a primary driver of domestic growth; however, exceptionally low unemployment is restraining job gains, slowing first-half employment creation

CREJ

September 20, 2019

Success of new, newly renovated Denver buildings

Office investors continue to ask themselves where they can find opportunity in the metro’s rapidly developing markets.

CREJ

September 15, 2019

Elitch redevelopment to change Denver – but before the cycle ends?

In December 2018, Denver City Council approved a rezoning for the 62-acre parcel that is currently home to the Elitch Gardens amusement park, the first step toward realizing a massive urban reconfiguration that developer Revesco Properties is calling “The River Mile.”

CREJ

September 15, 2019

Where are large blocks of urban office space?

Since the market began to rebound in 2011, Denver’s landscape has changed significantly, both economically and physically.

CREJ

September 15, 2019

The exciting future of multifamily design in Colo.

Today’s multifamily experience undoubtedly has matured over recent decades.

CREJ

September 6, 2019

Increasing demand from renters for larger units

As homeownership in Denver becomes increasingly more expensive, we expect demand for larger rental units to increase.

CREJ

August 25, 2019