A classic 1960s high-rise apartment building with 170 residential units to the south of downtown Denver is about to undergo a major renovation as affordable housing. Located at 1550 S. Federal Boulevard, the Columbine Towers was built in 1964 and has long served a senior residential population. Now the Denver-based Ulysses Development Group has purchased the 14-story structure for $34 million, announcing plans to substantially renovate and upgrade it. In a statement, Connor Larr, a partner with Ulysses, remarked that the "impact the community will feel when our rehabilitation of this property is complete will be significant. It will give seniors and those with disabilities a safe, quality, and affordable place to call home at a time when housing is at a premium." The project, which Ulysses is taking on in a partnership with the Housing and Urban Development Department, is expected to see upward of $9 million in improvements which will include the installation of new elevators, energy efficiency work, and accessibility conversions. The elevator work is particularly important: in the summer of 2022, the building's elevators were out of commission for roughly a week, forcing elderly residents to use the stairs, and resulting in at least one injury. Members of the Denver City Council have approved a $10 million loan to fund the rehabilitation work. By Garry Boulard
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State funding has been secured for a project in Las Cruces that will see the building of a new affordable housing project spearheaded by a well-known local nonprofit. Governor Michelle Lujan Grisham has given her signature to a nearly $6 million capital outlay approved earlier this year by New Mexico lawmakers to help build a supportive housing complex that will house some 50 units. The official address of what is being called Amador Crossing is 1101 W. Amador, within the boundaries of the existing Mesilla Valley Community of Hope Campus. The MVCH began operations in early 1998, building a $1.6 million facility in the 900 block of W. Amador and dedicating itself to the mission of providing a host of services to the homeless. In 2011 it garnered media attention when it opened a facility called Camp Hope, a designated tent community on land it owned, for up to 50 people or so. Five years later, the group built a $65,000 shower and bathroom facility on the same site. The Camp Hope effort was subsequently lauded in a report published by the National League of Cities, noting that the site “crucially allows those experiencing homelessness to live with dignity while in transition to more permanent and stable housing.” The City of Las Cruces has been historically supportive of the efforts of the MVCH, approving a $4 million purchase for nearly 5 acres of land once owned by the Brewer Oil Company to be used for the nonprofit’s purpose. According to city information, the new MVCH facility will accommodate what are described as “chronically homeless residents,” in a space designed to assist residents to “heal, stabilize, and grow.” The project is currently in the planning and design stage. By Garry Boulard After a splurge of activity during the months of the Covid 19 lockdown and afterwards, home improvement and repair work is expected to see a decline lasting throughout the rest of this year and into 2025. In a new report just issued by the Joint Center for Housing Studies of Harvard University it is noted that overall project work and spending is slated to drop by around 7% by the late summer of this year. That figure stands in contrast to the unprecedented double-digit gains between 2020 and 2021, culminating in a historic increase of 17.3% in the third quarter of 2022. In a statement, Abbe Will, associate project director of the Remodeling Futures Program, which is a part of the Harvard Center, remarked: “At $451 billion, spending on homeowner improvements and repairs over the coming year is anticipated to be slightly lower than the $463 billion over the last year.” In fact, the dollar high for the remodeling industry was reached early in 2023 when the figure stood at $490 billion. The Harvard Center uses a model called the Leading Indicator of Remodeling Activity which is designed to provide a short term outlook on repair spending and home improvement projects nationally. The model looks at home repair and improvement expenditures over a span of four quarters. Using that model illustrates the dramatic increase in home improvement spending over time, from around $123 million in early 2004 to $148 million a decade later. The model also shows the devastating impact the Great Recession had on spending that had precipitately dropped to $108 million by early 2012. Although this year’s numbers are down, ongoing opportunities for remodeling and updating projects continue to exist in different pockets of the country. In a press release issued from the Harvard Center, Carlos Martin, project director with the Remodeling Futures Program, observed: “The nation’s aging homes continue to need investment in critical replacements, home performance deficiencies, as well as modernization.” By Garry Boulard A bill designed to add some clarity to Colorado’s existing condominium construction defects law is moving through the state legislature and may soon be voted upon by the full House of Representatives. Senate Bill 106 is a response to the Construction Defect Action Reform Act, which was passed in 2001 and limited the liability of builders for defects in a building product. The 2001 legislation was sparked by an outpouring of litigation over construction defects, making it substantially more difficult for what were considered to be frivolous lawsuits to be filed. In the process, the law also encouraged dispute resolutions preliminary to a lawsuit being filed. Under the new legislation, builders will have the right to address a defects issue before any litigation can be launched. In addition, the bill would increase to two-thirds the threshold of consent by fellow members of a given homeowners association leading to a lawsuit. Because of the threat of lawsuits, many builders in Colorado have in recent years shied away from taking on condominium projects. That move, according to a variety of experts, has contributed to both a lack of housing and an increase in housing construction costs. In response to the pending bill and legislative debate surrounding it, Governor Jared Polis has remarked: “We understand that conversations have been ongoing and encourage all sides to stay at the table and get a meaningful constructive reform bill that reduces condo costs to the Governor’s desk.” The bill has not been without opposition. Democrat Senator Faith Winter last month remarked that the proposal would put obstacles in the way of condo owners trying to get issues resolved by builders. She added: “I think this makes it far more restrictive on when folks can be protected, and when they can’t.” The Colorado legislature is scheduled to conclude its 2024 session on May 8. By Garry Boulard El Paso County voters have just a little over two more weeks before deciding whether to improve a $35 million bond for a variety of water facility upgrade and construction projects. The bond is specific to the Lower Valley Water District, which is based in the town of Clint and provides solid waste, water, and wastewater services to residents in southeast El Paso County. The district, with an operating budget last year of just under $27 million, spans a mixed urban and rural 210-square mile area that includes the city of Socorro, as well as the town of Clint and community of San Elizario. Planned projects in the district include a water line extension on the north side of Gateway West Boulevard, some 3 miles to the southeast of El Paso; new sewer service infrastructure in Socorro; and the construction of a new lift station and gravity line at the intersection of North Loop Drive and Clint Road in Clint. Established in May 1985 by a vote of the Texas State Legislature, the Lower Valley Water District serves not only two incorporated municipalities, but also nearly 90 colonias. According to an annual budget document released late last year, the district has also recently launched what it calls a “massive meter replacement project,” that includes the installation of smart meter technology. That move, said the Lower Valley Water District document, “is not only expected to increase our water efficiency, but avail analytical tools improving water distribution services.” The district has additionally been making a valiant effort in recent years to connect water infrastructure in communities where previously the water was transported in plastic tanks by truck. By Garry Boulard The Millennial generation now makes up a sizable 38% of the nation’s home buying market, outpacing all other age groups, according to just-released figures from the National Association of Realtors. In a new study, Home Buyers and Sellers Generational Trends, it is noted that the huge Baby Boom generation, the birth of which spans the years 1946 to 1964, has seen a notable decline in home buying this year, dropping from the 39% they represented in 2023 to 31% now. Demographers have noted that both groups are huge and will dominate both home buying and overall consumer trends for the immediate years to come, but the Millennials, representing roughly 88 million people, are undoubtedly the ones to watch. The increase in Millennial home buying, said Jessica Lautz, deputy chief economist with the NAR, is largely attributable to “both younger Millennials stepping into homeownership for the first time, and older Millennials transitioning to larger homes that suite their evolving needs.” The NAR report also notes a larger increase in first-time buyers this year, spanning all generations, with 32% securing a home for the first time—up from 26% in 2023. In that category, perhaps not surprisingly, were the Millennials, comprising a very large 70% to 75% of the first-time market. The new report also underlines the emergence of Generation Z, or those born between 1995 and 2010, as a real estate market force. “Their demographics are emerging distinctly from other age groups,” remarked Lautz of the Generation Z buyers. “More than half are single buyers, outpacing all age groups of single men and single women, and they are almost most likely to identify as LGBTQ+.” On the selling side, the Baby Boomers remain dominant, accounting for 45% of all generational sellers. The Boomers, said Lautz, are largely making their selling decisions based on moving into retirement living situations, right sizing their housing, or moving closer to relatives. The Boomers are also a careful demographic: “Benefiting from longer periods of homeownership compared to other generations,” they approach transactions with “substantial equity, enabling strategic housing trades.” Various studies have indicated that Millennials are willing to spend, even lavishly, for luxury items, but a report issued last month by the site Civic Science also revealed a generational thriftiness: some 35% of Millennials regularly shop at a Family Dollar or Dollar Tree, compared with less than 10% of the Baby Boomers. By Garry Boulard A nearly 120-year-old, three-story house in downtown Grand Junction may soon be repurposed as transitional housing for new city employees. The structure, located at 756 Chipeta Avenue, is distinguished by its Victorian architecture and wrap-around front veranda. The has been previously listed for sale by the Carbondale, Colorado-based realtor Aspen Glenwood. Now members of the Grand Junction City Council have voted in favor of submitting a $749,000 bid to buy the nearly 5,500-square-foot property. The purpose of the bid is to secure housing space for newly hired city employees in a part of Colorado where the average rent for a one-bed apartment is at the $1,600 mark, up from around $980 a decade ago. The ongoing rent increases in Grand Junction have made it difficult to recruit workers, particularly those who might be employed by either the city police or fire department. According to sources, if the bid for the home is accepted, it will be divided into multiple properties to create as much new transitional housing space as possible. The $749,000 bid is itself a reflection of growing real estate prices in Grand Junction. According to the site Zillow, the home was listed for $395,000 a decade ago. For most of the early 20th century the building was the home to prominent Grand Junction businessman James Purcell, with its first-floor parlor open to any number of musicales and both literary and social club events. By Garry Boulard Progress is being made in an effort to build a museum paying homage to one of the most ingenious initiatives in U.S. military history. The Navajo Code Talkers was comprised of Native American soldiers who used their language to send secret tactical messages during World War II. The language proved entirely bewildering to the Nazi military command which never, despite repeated attempts, was able to decipher it. Using the language of not just the Navajo people, but also the Comanche, Hopi, and Meskwaki tribes, the code talkers and their efforts in the war have since been lauded by historians and presidents. Now, an effort to see the completion of a museum just outside Gallup honoring the Code Talkers is receiving new state funding. Governor Michelle Lujan Grisham has given her signature to a capital outlay of around $1.5 million, earlier approved by state lawmakers to support the project. The Governor has long been supportive of the effort, remarking of the Code Talkers two years ago: “Their steadfast service to a Nation that had systematically underserved and undervalued Indigenous people is a true testament to their character and a debt that we will never be able to repay fully.” The project received an initial $1 million in state funding in 2019 to go primarily for the design of the new facility, followed by an additional $6.4 million in 2023. An exhibition by the American Institute of Architects subsequently revealed a schematic design for the project on some 300 acres blending “the architecture, the land, and the Navajo People’s resilient culture.” Earlier estimates have suggested that it may ultimately cost as much as $46.6 million to complete the museum. Officials with the project have said that, to that end, they are also seeking private support. By Garry Boulard States throughout the West are now in line to receive hundreds of millions in federal funding for a wide variety of climate change-resistant infrastructure projects. The funding has been announced by the Department of Transportation and takes in some 80 projects nationally that have secured up to $830 million in grant awards. In announcing the awards, Transportation Secretary Pete Buttigieg remarked that extreme weather events are “damaging America’s transportation infrastructure, cutting people off from getting where they need to go, and threatening to raise the cost of goods by disrupting supply chains.” The funding includes planning grants, resilience improvement grants, funds for the enhancement of evacuation routes, and funding for the strengthening or relocation of coastal highways. In Arizona, Coconino County is getting $15.5 million for a project designed to prepare highway infrastructure for withstanding post-wildfire flooding. The project is specific to U.S. Route 89, which slices through reservation land belonging to the Hopi and Navajo tribes. In Colorado, Denver is getting exactly $4 million to improve roadway resiliency in the low-income neighborhood of Ruby Hill; while Aurora is slated to receive $10.8 million to reconstruct a flood-damaged intersection. An additional Colorado project is seeing $23.8 million going to the City of Golden to control flooding in the Lena Gulch, which runs adjacent to U.S. Route 40. New Mexico's Dona Ana County, meanwhile, is slated to receive $2 million for a planning project focusing on transportation infrastructure vulnerabilities during an emergency weather event. One of the largest projects nationally is seeing $56.4 million going to the replacement of the Arc of Justice Bridge in Cedar Rapids, Iowa, which spans the north-to-south Cedar River. That nearly 90-year-old structure has long been regarded as deficient and will be replaced by a cable-style bridge. By Garry Boulard Plans are now finalized for the construction of a series of new electric vehicle charging stations in various parts of Colorado. In announcing funding for the project, a statement released through the offices of Governor Jared Polis remarked: "With more than 100,000 electric vehicles registered in Colorado, and the pace of adoption growing, the expansion of the charging network is necessary to meet consumer demand." State officials have said that they'd like to see at least 940,000 electric vehicles on the road in Colorado by the end of the decade. Altogether, some $21 million in grants will fund the construction of 290 charger ports at nearly 50 different sites throughout the Centennial State. "Colorado is leading the way in the shift to electric vehicles by making them more affordable and ensuring that driving them across our beautiful state is just as easy as driving a gas-powered car," Polis remarked. The funding is coming through the Direct Current Fast-Charging Plazas program, which is a part of the National Electric Vehicle Infrastructure Program. Upon completion, the new facilities will increase by some 28% the number of existing electric charging stations in the state. Polis said the new funding will substantially assist in efforts to make Colorado the "number one state for electric cars, bikes, and buses." Last year Polis signed into law a bill, HB23-1233, designed to update electric code requirements, remove electric vehicle parking restrictions, and provide tax incentives for the construction of new electric vehicle stations. By Garry Boulard |
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