Denver Medical Micro Project

Transcription

1 Denver Medical Micro Project 6 Unit Development Opportunity across from Denver Health Project Overview 224 W. 6 th Ave. Denver, CO Prepared by Ray Design Development

2 Project Summary Project Type: Multi-Residential Project Size: 3 Story 6 Units (5 Units if Level 1 Resident Amenity Space provided) Project Address: 224 W. 6 th Ave. Denver, CO Micro Unit Multifamily Project Net Livable SF per Unit - Units include walk-in closets, laundry, private bedrooms - Optional Level 1 Resident Club and Business Center - Type V Construction Elevator Not Required - Only 1 Exit (Stair) Required Ultra Efficient Design - Zoning Code has Small Lot Parking Exemption that reduces the required parking for the project. Only 2 spaces are required for the project to be compliant by Code. On street parking available on Cherokee and Bannock - Offsite Parking Permitted with evidence of Lease Agreement - Adjacent Property (567 Bannock) is agreeable to Lease Spaces for $1,100/space/year - Employees of Denver Health pay only $35/month ($420/year) for parking in Employee Only Garages at 601 and 675 Acoma Garages - Develop a Rental Property that targets Denver Health Employees for Residents. They already have the parking leases which can be provided as evidence to fulfill the parking requirement. - Denver Health Main Campus has 5,500 Active Employees - Walking distance to Starbucks, Einstens, Chipotle, Noodles & Co, and the Cherry Creek Trail - Easy access to downtown - CMX-8 Zoning allows 8 story construction. Great re-sale potential and ideal for land assembly play Neighborhood: Denver Health Neighborhood Walking distance to: Starbucks Einsteins Chipotle Noodles & Co Five Star Burgers Moe s BBQ Red Ginger Jersey Mike s Jamba Juice Cherry Creek Trail

3 Biking distance to: University of Colorado at Denver Metro State University Pepsi Center Coors Field Sports Authority Field Denver Botanical Gardens Denver Zoo Denver Art Museum Denver History Museum State Capitol Safeway Qdoba Boston Market Little India Benny s Restaurant and Tequila Bar North View from Site toward Denver Health and Downtown

4 Zoning Analysis Property Address: 224 W. 6 th Ave. Denver, CO Property Area: 2,156 sf or.05 acre Property Dimensions: 28-0 x 77-0 (Owner has filed to re-claim an additional 224 sf of land that is currently an unused and unnecessary alley ROW) Property Zoning: CMX-8 (Urban Center Zone District) Building Form: General (Hotel, Office and Mixed Use are also Permitted by Code) Stories: 3 stories (Code allows up to 8 stories) Building Height: 35 (110 permitted) Front Setback: 8-0 (City required landscape buffer) Side Setback: 5-1 (0 permitted) Rear Setback: 2 (0 permitted No Openings) Upper Story Setback: N/A Protected District: No Adjacency Parking: On-Street and Off-Site 2 spaces required Project Description Denver Medical Micro is currently designed as a 6 unit multi-residential project with 3,294 GSF of Units. Current zoning allows residential, hotel, office, retail and more and therefore creates great development opportunities including mixed use opportunities. The project is located immediately across the street from Denver Health Main Campus and is only a few blocks from the Cherry Creek Trail, Speer Blvd and Downtown Denver. The project is designed to be highly efficient to minimize construction costs and maximize rental income. It is a 3 story walk-up with a single stairway. The Building Code which allows projects not exceeding 3 stories to have only 1 means of egress when the occupant load per level is 10 or less. This design has only 6 occupants per level. Type V wood framed construction will also minimize construction costs. The units are compact and yet provide all the living features residents will want. In addition, a developer could elect to replace a Level 1 unit with a Resident Amenity Space which could become a Club Room or Business Center. Due to the size of the lot, the Zoning Code allows parking requirement reductions. Only 2 spaces are required by Code. This benefits the Developer as he/she would only be required to show evidence of 2 off site leased spaces, which could be fulfilled with Lease Agreements of employees of Denver Health. Denver Health Employees has multiple nearby garages where they can park their car without restriction for only $35/month. Simply put, this project would be ideally developed to lease to Denver Health employees. In fact, it would make sense to target marketing to Denver Health Employees. With 5,500 employees on the main campus, all 6 units would most likely be leased before completing construction. The palette of exterior finish materials is simple with a clean appearance. Stucco, aluminum and hardwood paneling. Interiors will have modern cost effective finishes.

5 Project Images - Denver Medical Micro Project

6 Project Images Denver Medical Micro Project

7 Typical Unit Unit Includes Full Kitchen, Washer/Dryer, Built in Counter for Eating or Work, Small Living Area with Private Bedroom, Walk-In Closet and Full Bath with tall Linen Cabinetry

8 East View Adjacent Surface Parking and Denver Health Employee Parking Garage (6 Level) shown South View

9 West View View of Rocky Mountains Neighborhood Description The Denver Medical Micro Project is located in a diverse neighborhood community that is currently undergoing an amazing transformation anchored by the Denver Health Main campus. The project has easy access to the Cherry Creek Trail, Speer Blvd, Downtown Denver and walking and biking distance to numerous Food and Beverage establishments, Shopping and Entertainment Venues. This development opportunity is ideal for an investor wanting a high yield long term income producing property in a neighborhood that will only continue to get better and more valuable.

10 Nearby establishments/attractions a short bike ride away include: Civic Center Park & State Capitol Miles Denver Public Library 1.0 Miles Denver Art Museum Miles Clyfford Still Museum Miles History Colorado Center 0.9 Miles Colorado Convention Center 1.5 Miles

11 Denver Performing Arts Complex 1.9 Miles Denver Pavillions 1.9 Miles Coors Field 2.6 Miles Pepsi Center 2.4 Miles Other Nearby Locations: Mile High Stadium 2.6 Miles University of Colorado Denver 1.6 Miles Metropolitan State University 1.6 Miles Union Station 3.3 Miles City Park 3.0 Miles Various Restaurants on 6 th Ave between Broadway/Lincoln 0.3 Miles Cherry Creek Trail 0.3 Miles Denver Health Main Campus 0.1 Miles Gov s Park 0.6 Miles

12 Art Lovers engage at a nearby Art Gallery Nearby Civic Center and Golden Triangle Walking/Biking are part of the Lifestyle of Denver

13 Healthy lifestyle along the Cherry Creek Alternate means of Transportation World Class Arts and Culture World Class Events

14 Ray Design Development Project Design & Development Brian Ray Ray Design Development - Owner / Registered Architect Brian Ray Licensed Architect: Colorado Education University of Colorado at Denver - Masters of Architecture University of Florida - Bachelor of Design Colorado State University Construction Management Certification Career Ray Design Development Owner / Project Architect Humphreys & Partners Architects Senior Project Manager Aardex LLC - Project Architect / Architectural Designer Contact Information brian@raydesigndevelopment.com

15 Ray Design Development SOLD Denver Development Opportunities 2922 W. 26 th Ave 9 Unit Multifamily SOLD - 9/2012 Re-Sold Twice for Profit Following RDD Sale Now Under Construction 1705 Hooker St 5 Unit Multifamily SOLD - 5/2013 Developed by Buyer and All Units Sold 1840 Julian St 4 Unit Multifamily SOLD - 5/2013 Developed by Buyer and All Units Sold 3127 Conejos Pl 4 Unit Multifamily SOLD - 5/2014 Developed by Buyer and All Units Sold

16 Julian St 56 Unit Multifamily SOLD - 11/2015 RDD Design Concept included in Sale Final Design by Studio K2 Architects Under Construction by Buyer For Sale Condos W 13th St & 1256 Delaware 176 Unit Multifamily SOLD - 11/2015 RDD Design Concept included in Sale Final Design by Meeks Partners Under Construction by Buyer For Rent Apartments

17 Select Project Profile Brian Ray PURE Townhomes - Denver, CO 1 Building 7 Unit Multi-Residential Townhome Project Jefferson Westshore - Tampa, FL 4 Residential Buildings & Clubhouse 200+ Unit Multi-Residential Apartment Project Project completed as Senior Project Manager at Humphreys and Partners Architects

18 Signature Centre - Golden, CO Commercial Office and Interior 185,000 sf LEED Platinum Class A Commercial Office Member of project team while employed with Aardex LLC Signature Tower - Centennial, CO 1 Building 400,000 sf Class A Commercial Office Building Collaboration with Markus Byron of MBR Studios