City of Arvada Purchases Modern Building, Recently Home to a Charter School - New Uses in the Making7/26/2024 ![]() A one-time school building on the east side of Arvada has been purchased by the city government and may see some reconfiguration as housing space. Located at 4905 W. 60th Street, the building for more than a decade was the home to the Early College of Arvada. The charter school announced its closing earlier this year, primarily due to a declining enrollment. That enrollment saw a count of less than 190 students as of last fall, compared with around 360 students for school year 2018-2019. Bult in 1973 and substantially renovated in 1996, the two-story structure, designated as a Class C building, sits on a nearly 2-acre site in a largely residential section of the city. Just weeks after the school announced it would close at the end of the spring 2024 semester, a for sale sign appeared on the lawn to the front of the building. Perhaps in response to that sign, city officials have since sized up the structure for its potential, with members of the Arvada City Council in mid-July agreeing to purchase the building for $6.3 million. While some news sources have suggested that the structure will almost certainly be used for housing purposes, a staff document presented to the council said: “While a specific purpose has yet to be defined, the property could be used for locating various non-profits in one location.” Among the uses for the building suggested in the document: a navigation center and an emergency shelter. According to a City of Arvada official announcement, the building, which was formerly a branch office for the Colorado Credit Union System, could also be used to gather “various non-profits in one location.” By Garry Boulard
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![]() With numbers that have left many economists surprised, the U.S. Bureau of Economic Analysis has just released a report showing that the national economy in the second quarter of this year grew by exactly 2.8%. The steady rise in the country’s gross domestic product was significantly above consensus expectations of no more than 2.1%, with the report also noting that jobless claims between April and June had dropped by some 10,000. The 2.8% showing was particularly impressive, according to experts, given that the rate of growth in the first quarter of this year was only 1.4%. Moreover, looked at from the perspective of the last two years, the 2.8% performance was the strongest in that period of time, with the exception of the first two quarters of 2023, when those figures came in at 4.9% and 3.4% respectively. The Bureau of Economic Analysis report notes that the improved GDP “reflected increases in both services and goods.” “Within services,” continued the report, “the leading contributors were healthcare, housing and utilities, and recreation services. Within goods, the leading contributors were motor vehicles and parts, recreational goods and vehicles, furnishings and durable household equipment, and gasoline and other energy goods.” Private inventory investment for the most part reflected increases in “wholesale trade and retail trade industries that were partly offset by a decrease in mining, utilities, and construction industries.” The new numbers, said the Financial Times, is a “sign of continued consumer resilience as the Federal Reserve considers cutting interest rates in the coming months.” Noting that the latest figures comprise a “sharp acceleration from the first quarter” of this year, the Wall Street Journal said the report shows a strong second quarter as “consumers increased their spending, businesses invested more in equipment and stocked inventories, and inflation cooled.” Were President Biden running for re-election, the latest BEA report might be used by him as an argument for a second term. Even so, he quickly issued a statement from the White House declaring: “We’ve created nearly 16 million jobs, wages are up, and inflation is coming down.” “We’re rebuilding the nation and bringing manufacturing back to America,” Biden added. Although the latest BEA figures are generally regarded as strong, they are substantially below the 3.3% to 7% seen in the last two quarters of 2021, but nicely better than the minus 2% recorded during the first quarter of 2022. By Garry Boulard Image Credit: Courtesy of Pixabay ![]() Arizona has secured a top slot in a new ranking looking at the condition of infrastructure in all of the country's 50 states. Compiled by the network CNBC in a report called America's Top States for Business, the document ranks Arizona as a solid number two, behind only Georgia, for what it characterizes as an all-encompassing approach to infrastructure investment and building. "The massive expansion of the semiconductor industry in Arizona would not be possible were it not for the Grand Canyon State's superior infrastructure," says the report. "Not only does the state have vast sites available for development, but it also has one of the nation's most reliable power grids," continues the report, adding, "a respectable 24% of the state's power comes from renewable energy, putting it in the top half of the states." Only one troubling note for Arizona is noted in the report: "The rapid growth in the middle of the desert is putting considerable strain on Arizona's water utilities, however, with a 20-year repair bill of more than $12 billion." Arizona and Utah are the only states in the West to make the report's top ten, a list dominated by states in the North and Midwest that have in recent years plowed billions of dollars into bridge, broadband, and road infrastructure. Further down the list, Colorado was ranked at number twelve for the condition of its infrastructure, while Texas placed 26th and New Mexico came in at 39th. The most recent rankings, compared with where things stood in 2018, show real growth on the part of Arizona, which then placed 13th. Colorado six years ago was at a significantly lower 35; Colorado in the top ten at eight; and New Mexico higher at 24. While the rankings from year to year show in some cases remarkable changes in the infrastructure standings of the states, America's Top States for Business suggests that there may be some alterations in the years to come, largely because of the billions of dollars coming out of Washington for both transportation and broadband projects. Altogether, there are currently some 54,000 individual projects underway in the states that are being funded through the 2021 Infrastructure Investment and Jobs Act. By Garry Boulard ![]() Just over 5,800 acres of irrigated farmland in central New Mexico is scheduled to go to auction during the final week of August. Located in Moriarty, what is called the King Farms is in every way big, comprised of 21 wells and 21 center pivots which have traditionally produced alfalfa and other crops. The King Farms is also the home to just over 2,000 acres of pivot irrigated farmland, and some 3,055 acres of native pasture. The August 29 auction, to be held at the Moriarty Civic Center, is being conducted by the brokerage firm of Hall and Hall, which has offices throughout Colorado and Texas, among other states. In the notice of the upcoming auction, the Hall and Hall listing additionally notes that the King Farms also includes "several tracts with residential or commercial development potential." The property, which was listed for sale two years ago with an asking price of $31.7 million, was farmed for more than a century by William King and members of his family, who were regarded as pioneers in the development of irrigation in the area. By Garry Boulard ![]() Coming off the traditionally strong spring buying season, home prices have now hit a new high, according to various sources, suggesting a tough mid-2024 market for home sellers. The national median home price in June was more than $426,000, a significant 4.1% increase over where things stood exactly a year ago. According to the National Association of Realtors, the new home price high comes as home sales have dropped by 5.4% over June of 2023. In a statement, Lawrence Yun, NAR chief economist, said the industry is seeing a "shift from a seller's market to a buyer's market." Continued Yun: "Homes are sitting on the market a bit longer, and sellers are receiving fewer offers." In addition, more would-be buyers are now "insisting on home inspections and appraisals, and inventory is definitely rising on a national basis." Yet, despite the most recent price increases, Yun said he believes that "further large accelerations are unlikely." The reason: "Supply and demand dynamics are reaching a balanced market condition." The somewhat swift early summer drop in home sales from last June was seen in all regions of the country, according to NAR figures, with the Northeast seeing a 6% drop; the Midwest off by 6.1%; and the South down by 6.9%. The decline was smallest in the West, where home sales were off by only 2.6%. Perhaps not surprisingly, given the home price hike, properties last month tended to remain on the market longer than they did in June of 2023, for a total of 22 days last month. Animating all of these numbers is the question of inventory. According to the National Association of Home Builders, the new home inventory nationally in June was at the 9.3% mark. "There is still a long-run need for more construction because existing inventory remains relatively low," Jing Fu, NAHB's director of forecasting and analysis, said in a statement. By Garry Boulard Image Credit: Courtesy of Pixabay ![]() New public facility construction and renovation projects may be in store all across El Paso County in Texas depending upon the mood of voters in November. For the last several months members of a County Bond Advisory Committee have been working to prioritize proposed projects, while also conducting a series of what have been called Renew EP County public input meetings. Those Renew EP County gatherings have been held in a variety of locations, with residents offering ideas and opinions on projects that could be funded by a general obligation bond. Among the projects under consideration: a fifth-floor remodeling of the El Paso County Courthouse, located at 500 E. San Antonio Avenue. The remodeling, with an estimated $5.1 million price tag, would see a reconfiguring of office space that will most likely be used by the El Paso County Public Defender's office. A partial renovation of the El Paso County Administration Building, otherwise known as the MDR Building, at 800 E. Overland Street, will cost around $11.4 million and will see a reconfiguration of some 21,000 square feet of office space. Another $4.3 million will target work on the Ascarate Annex building at 301 Manny Martinez Drive. If approved, the project will see the building addition of 6,000 square feet of new office space to be used by the Texas A & M AgriLife Extension county office. The Family Youth Service Center at 6314 Delta Drive will see an upgrade to its heating and cooling system, with a project price tag of just under $1.4 million. Altogether, El Paso County voters could be confronted with a bond proposal of some $295 million designed to fund a variety of building, infrastructure, and park projects. Before making it to the November ballot, the bond proposals will first have to be approved by the El Paso County Commissioners Court next month. By Garry Boulard El Paso County Meeting Poster ![]() A growing company with roots in California that specializes in the production of liquid and dry food products is expanding its presence in Phoenix. With roots reaching back to its founding in San Francisco in 1988, United Foods International has emerged as an industry leader in custom liquid processing that is used in everything from dipping sauces, soup bases, marinades, and soy-based sauces. The company’s dry products come in the form of batter and baking mixes, powered broth, and spice blends and seasoning powders. A large portion of UFI’s products supply both restaurants and retail outlets across the country. With production facilities located throughout Asia and along the West Coast in the U.S., UFI's new Phoenix facility marks the company's second location in the city: it opened a more than 100,000-square-foot manufacturing plant at 777 South 67th Avenue in 2021. The new facility will go up in the Envision Dobbins 202 West Industrial Park and will measure around 126,000 square feet. Upon completion, the new plant will be capable of annually processing some 2.5 million gallons of liquid that will be turned into powders. Future facility work may see the company doubling that capability to around 5 million gallons. In announcing the new facility, Take Shimura, UFI president, remarked: “Beyond the mainstream flavors, our goal is to provide consumers with a taste of Japanese and Asian cultures through our diverse range of offerings, while also supporting the local economy by creating jobs and partnerships.” By Garry Boulard ![]() New mini golf courses built this spring in Tupper Lake, New York; Lansing, Michigan; and Daytona Beach, Florida, are offering the latest evidence that this is a booming industry with annual revenues now estimated at the $2 billion level and above. According to the National Golf Foundation, up to 18 million people in the U.S. play mini golf at least four times a year. Nearly half of those players are women, with the average age being 34: "Demographics many would love to see" in the traditional game of golf, notes NGF. Reports the Washington Examiner: "High-tech courses have incorporated video games-like technology and render scores in points rather than strokes. Courses have also borrowed features from other kinetic activities, including pool, baseball, foosball, zip lines, and slides." That's not to say that many courses still don't rely on the traditional miniature windmills, castles, and small lagoons to challenge players. The new Daytona Beach mini golf course is part of famed golfer Tiger Woods' PopStroke brand, which includes restaurant and bar amenities, outdoor dining areas, ice cream parlors, and large TV screens everywhere. PopStroke courses have now been opened in various spots in Florida, as well as Alabama. The announcement of the Daytona PopStroke project was regarded as important enough for the city's Mayor, Derrick Henry, to announce: "It adds value to our community as a place to visit to have a good time." The Tupper Lake mini golf course is being built at the site of a former gas station, with the pump canopy repurposed for outdoor seating, and the course itself featuring a 9-foot waterfall, hidden passages for golf balls, and general water obstacles. According to the book Miniature Golf by John Margolies, the first mini golf course was built in 1926 on the roof of a New York skyscraper in the middle of the financial district and was designed for "overwrought bankers eager to unwind." The concept soon expanded to some 150 other rooftop courses until the Great Depression dried up financing. In the years after World War II, particularly in the 1950s, mini golf made a comeback with new courses opening up primarily in the South and West. A 1951 ad for a course in Bossier City, Louisiana invited guests to play at the "most popular miniature golf course in the Arkansas-Louisiana-Texas" area, with the lure of "delicious ice-cold watermelon after the game." In an article written this spring for the publication In Business by Ben Sheppard, chief information officer for Puttshack, a mini golf course company with locations in Scottsdale and Denver, among roughly two dozen other locations nationally, it was noted that such courses are today a thing of technological wonder. Increasingly, mini golf operators today are using analytic tools to "track metrics such as average score, time spent on each hole, and peak hours of operation." Such information, added Sheppard, allows those operators to "optimize course layouts and tailor the overall experience to meet the needs of their target audience." By Garry Boulard Image Credit: Courtesy of Unsplash ![]() A unique and highly individual collection of buildings in the University Hill neighborhood of Boulder is now on the market with a big asking price of $23 million. Referenced as the “Block Portfolio,” the properties include three separate houses in the 1000 block of 14th Street, all catering to a tenant base largely composed of students from the nearby Boulder campus of the University of Colorado. The oldest structure at the site, at 1019 14th Street, is a just over 8,300-square-foot three-story house that was built in 1946 and has long served as the home to the Alpha Sigma Phi fraternity. The house sits on a less than half-acre site and is designated as a Class C building. The second structure, at 1027 14th Street, is a two-story residence with a front wrap-around porch that was built in the 1920s and measures not quite 3,000 square feet. The property also features a separate carriage house to the rear of the main structure. The largest structure in the portfolio is officially called The Block, a modern designed three-story apartment complex designated as a Class B structure built in 2018. Listed by the firm Pinnacle Realty Advisors, which has offices in Denver, the three properties comprising the Block Portfolio house a total 63 residential units. The listing notes that the Block Portfolio’s properties are constantly occupied, reflecting a vibrant market in a city of more than 37,100 University of Colorado Boulder students. By Garry Boulard ![]() Preliminary work that could lead to the creation and building of a new 20-acre park and walking trail in Las Cruces is underway as the project enters the design phase. For well over a year, officials in Dona Ana County have envisioned a park that would be built along the banks of the Rio Grande and would include a playground, fire pit, benches, and restrooms. What is envisioned as an oblong-shaped park will be partially bordered by the well-used Shalem Colony Trail and will additionally include an adventure and nature play space, turf lawn, and access to the Rio Grande itself. The project has now taken a significant step forward with the awarding of a more than $85,000 grant from the New Mexico Outdoor Recreation and Trails Grant Program. The funding will target the beginning of the design portion of the project, while incorporating to some degree suggestions aired by residents during public input meetings. A press release issued by Dona Ana County says that the project will ultimately “transform an area that previously served as a spot for parties, fires, and illegal dumping into a thriving community space.” In the last three years, grants awarded from the New Mexico Outdoor Recreation and Trails funding program, which is administered through the State of New Mexico’s Outdoor Recreation Division, have totaled around $21 million for nearly 150 individual trail and park projects. By Garry Boulard Image Credit: Courtesy of Pixabay |
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