Friday, October 12, 2012

Housing News Digest, October 12

With Walmart gone, what's next for Denver project?

Developer Jeff Fuqua is tweaking plans to redevelop the former University of Colorado Hospital site now that Walmart has decided against being part of it, The Denver Post reports.
Fuqua told the newspaper the project "will look a little different, but it will get done -- and quickly."
Walmart was going to anchor the 28-acre site at Ninth Avenue and Colorado Boulevard but the idea of the large retailer drew vocal opposition from neighborhood groups. Fuqua said he's looking for another large retailer or two to fill the space Walmart was to occupy. He also might add more of a residential component to the project, he told the Post.
Colorado may escape any bank failures this year It’s been nearly a year since the last bank failure in Colorado, when regulators closed Greenwood Village-based Community Banks of Colorado on Oct. 21, 2011, and Bank Midwest of Kansas City took over its deposits and branches. Six Colorado banks failed in 2011, victims of the financial crisis and subsequent crash in the construction and commercial real estate markets. But the state may get through 2012 without a failure, thanks to banks’ higher capital levels and better earnings in the sector overall, banking experts say. 

  ULI’s downtown suggestions start with new housing If there was any doubt of what downtown revitalization means to local leaders, the Downtown Partnership’s Annual Mayor’s Breakfast took care of that Wednesday. Mayor Steve Bach, in his keynote speech, told a crowd of about 225 people at the Mining Exchange Hotel that downtown’s future would be a top priority for his administration. 

  Economic development group still struggling The group's biggest problems, he said, have been the mass resignation of most of its board last summer, coupled with lackluster response to a new CEDP website that was created in August 2011 and remains under construction. Harvey and Merriott each attributed the resignations of at least four of the board members to disappointment over voter rejection of the Village at Crystal River (VCR) development in January of this year. 

  Stapleton ranked No. 9 Stapleton has been ranked as the ninth best selling master planned community in the U.S., according to a national study. Stapleton broke into the top 10 category in the 2012 rankings developed by Metrostudy, after being ranked 15th last year. The ranking covers the period from July 2011 through June 2012. Established in 1975, Metrostudy provides primary and secondary market information to the housing and related industries nationwide.