HomeMy WebLinkAboutReal Estate PresentationDMC Real Estate Presentation
June 6, 2005
Micah Mckee
Main Points:
1) Office Vacancy
2) Retail Mix
3) Residential
4) Parking
5) Future Vision
Office Vacancy
1) Current Vacancy Rate -
a. New Downtown Property Database
2) Challenges for Companies Considering Locating Downtown
a. Price
b. Employee Parking
i. Alternative transportation modes
ii. Permit allotments held by landlords
c. Quality of Space
3) Changing Space Demands
a. Smaller "Creative Class" companies
b. More Office Condominium Product
c. More Executive Suites
Retail Mix
1) We are not the center of the County anymore
2) Everyone is now building Pearl Street Copycats ("Lifestyle Centers")
a. Arista in Broomfield
b. Even 29th Street
3) Need a cohesive retail vision and concept of what downtown retail is
and how we differ from all the others
a. 29th Street puts a time pressure on us to expedite this process
to minimize any negative impact from their opening
4) DBI's retail study is the right idea but I believe it will take longer than
necessary and cost more than required.
Resident
1)
2)
3)
4)
ial
Existing
Current Projects
Development Costs
Density Increase
a. FAR
b. Height Limit
5) Affordable Housing
6) Benefits of Increased Housing Downtown
Parking
1) Employee Issues
2) Retail Shopping
a. Perception vs. Reality
b. Desirability is key
3) Solutions(?)
Ideas for the future of Downtown
1) East Pearl to the Transit Center
a. Linear Transit Oriented Development Area
i. Dense development oriented along Pearl
b. The grand entrance/gateway to downtown and the connector to
29~n Street
2) West Pearl
a. Brick the 900 & 1000 block of Pearl Street
3) North and South of Pearl
a. Increasing density and adding housing, small office and small
retail
4) Bring in Urban/Mixed use specialists and leverage their knowledge to
build on our solid foundation
5) Strive to lead the nation as an innovative downtown