PARK CHAMPA ARAPAHOE SQUARE DEVELOPMENT OPPORTUNITY ±.65 ACRES (28,489 SF) D-AS-12+ ZONING SITE PEPSI CENTER. Broadway. Park Ave

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1 & PARK CHAMPA ARAPAHOE SQUARE DEVELOPMENT OPPORTUNITY ±.65 ACRES (28,489 SF) D-AS-12+ ZONING PEPSI CENTER DOWNTOWN DENVER COORS FIELD Broadway SITE Park Ave

2 PRESENTED BY ARA NEWMARK 1800 Larimer Street Suite 1700 Denver, CO T BRYON STEVENSON Associate T bstevenson@aranewmark.com CHRIS COWAN Executive Managing Director T cowan@aranewmark.com STEVE O DELL Executive Managing Director T odell@aranewmark.com JESSICA GRAHAM Director, Transaction Management T graham@aranewmark.com 2

3 SITE OVERVIEW OFFERING PRICE: TBD BY MARKET Land Size ±.65 acres (28,489 SF) Parcel 1 Size Parcel 2 Size Zoning Location City County Condition Utilities 12,791 SF 15,698 SF D-AS Park Avenue & 2250 Champa Street Denver Denver Mill Levy Broadway Parking lot and existing improvements To site perimeter SITE Park Ave DEVELOPMENT HIGHLIGHTS Please note: There are two available parcels, 12,791 SF and 15,698 SF, that can be purchased together or individually. Please contact the listing broker for more information. Flexible zoning allowing multifamily, condominium, microhousing, hotel and commercial development up to 250 feet No minimum parking requirements Surrounded by 130K+ jobs in the CBD Low Denver impact fees High visibility from Park Avenue with 30,000 vehicles passing per day Strong demographics Average household income of $106K, average home value of $500K and average Class A condominium value of $1MM within one mile Proximity to 4.2 million SF of retail and entertainment in downtown Significant capital investment in downtown with $5.3 billion in new development since 2013 Schematic design documents available for a 169-unit microhousing development Champa St 22nd St Highly walkable/bikable to Rino, Uptown, Downtown and Ballpark 3

4 CONCEPTUAL RENDERINGS MULTIFAMILY CONCEPT HOTEL CONCEPT UNIT MIX # OF UNITS SF/UNIT TOTAL SF Studio Bedroom Bedroom Studio Studio Urban One Bedroom Urban One Bedroom Urban One Bedroom Urban One Bedroom Urban One Bedroom TOTAL: Avg Size Hotel Rooms 56 Apartments 17 Stories 4

5 NEIGHBORHOOD MAP 5

6 NEARBY EMPLOYMENT SITE PRESBYTERIAN ST. LUKES MEDICAL 1,400 EMPLOYEES 20th St W Park Ave 11 Broadway ST. JOSEPH HOSPITAL 3,408 EMPLOYEES NEARBY EMPLOYMENT 1 Republic Plaza 1,328,369 SF California 1,315,428 SF 3 Wells Fargo Center 1,204,089 SF 4 Denver Place 909,685 SF 5 Denver Energy Center 777,333 SF Broadway 749,866 SF th Street 723,357 SF Broadway 697,555 SF 9 Johns Manville Plaza 693,565 SF 10 Wellington E. Webb 679,183 SF Auraria Pkwy 11 Seventeenth Street Plaza 672,465 SF Fifteenth* 670,000 SF th St. 655,565 SF 14 Dominion Towers 613,528 SF 15 Block 162* 601,752 SF *New Development 12 DOWNTOWN EMPLOYMENT 130,227 JOBS DOWNTOWN DENVER OFFICE SPACE 27.8 MILLION SF TH & GLENARM LAND DOWNTOWN DENVER OFFICE CONSTRUCTION 11 PROJECTS 2,209,549 SF 5 W Colfax Ave 10 Civic Center Park & Municipal Buildings WALK SCORE 93 Walkers Paradise TRANSIT SCORE 86 Excellent transit BIKE SCORE 97 Biker s Paradise 6

7 LAND COMPARABLES Name Sale Price Units $/Unit Acres $/SF Zoning Use Sale Date S Park & Champa TBD by Market TBD TBD TBD D-AS-12+ TBD TBD 1 NAVA Condos - Uptown $7,100, $37, $ R-MU-30 Condos Jun-18 2 Park Place Condominiums $2,150, $48, $ D-AS-12+ Condos May th & Glenarm $8,800,000 TBD TBD $ D-C TBD Mar Park Ave. $5,163, $21, $ D-AS-12+ Apartments Jan-18 5 Cambria Hotel and Suites $7,000,000 TBD TBD $ D-C Hotel Oct-16 6 Alexan 20th Street Station $9,000, $25, $ C-MX-12 Apartments Aug-16 7 Alexan Arapahoe Square $7,500, $21, $ D-AS Apartments Aug-16 Total/Weighted Average $6,673, $26, $ DOWNTOWN DENVER 22nd St 2 SITE 20th St Speer Blvd 14th St 18th St 20th Ave 1 Park Ave 3 Colfax Ave 5 7

8 DEMOGRAPHICS 1 Mile 3 Mile 5 Mile 2018 Total Population 43, , , Total Population 52, , , Average Household Income $106,432 $91,263 $90, Average Household Income $120,151 $104,703 $102, Average Household Size Renters 74.61% 63.69% 56.03% 2018 Median Age Employees 149, Source: ESRI MARKET SUMMARY $2.47/SF AVERAGE CLASS A MULTIFAMILY RENT $1MM AVERAGE CLASS A CONDOMINIUM SALE PRICE $186 AVERAGE DAILY HOTEL RATE $35/SF AVERAGE CLASS A OFFICE LEASE RATE $48/SF AVERAGE CLASS A NNN LEASE RATE 8

9 THE CITY OF DENVER S NOTABLE RANKINGS #1 TOP METRO FOR SMALL BUSINESS EMPLOYMENT [Paychex, 2018] #1 BEST ECONOMY AMONG LARGE US CITIES [USA Today, 2018] 2ND BEST CITY FOR JOB SEEKERS [Forbes, 2017] 3RD BEST CITY FOR MILLENNIALS [Forbes, 2017] #3 BEST PLACE TO LIVE [US News and World Report, 2018] 3RD FASTEST GROWING LARGE CITY [WalletHub, 2018] #3 HEALTHIEST CITY IN THE NATION [Forbes, 2016] #4 BEST PLACE FOR BUSINESS AND CAREERS [Forbes, 2017] #4 BEST CITY FOR WORKING WOMEN [MagnifyMoney, 2018] 4TH MOST EXCITING FOOD CITY [NerdWallet, 2017] TOP 10 PLACES TO TRAVEL IN THE US [Lonely Planet,

10 ARAPAHOE SQUARE Located southeast of the Ballpark neighborhood and just north of the Commercial Core of Downtown Denver, Arapahoe Square has historically been one of the most underutilized areas of Downtown. In the 1970s and 80s, Arapahoe Square was cleared to serve as a parking reservoir for the Commercial Core. In 2011, the 96-acre neighborhood was designated as an Urban Redevelopment Area in an effort to spur development and create the next up-and-coming downtown neighborhood. In 2016, the Denver City Council approved dramatic zoning changes to allow buildings up to 30 stories that meet certain criteria. Today, large scale development and infrastructure improvements has begun to take place with many more planned. Select Development and Improvement Projects in Arapahoe Square: RE-IMAGINED 21ST STREET BUELL PUBLIC MEDIA CENTER MILE HIGH UNITED WAY HEADQUARTERS 2200 CALIFORNIA The Downtown Denver Partnership and city planners have envisioned multi-modal improvements along the length of 21st Street to serve as a destination for the surrounding downtown neighborhoods. Improvements include a festival street, public art and urban trails. Proposed 63,000-square-foot building that will serve as the new headquarters for Colorado s largest public-media organization, Rocky Mountain Public Media. The development will feature shared offices and studios for media radio and TV. Development is set to begin this year. 63,000-square-foot building that opened in 2014 and serves as the headquarters for Mile High United Way. The building was built at a cost of $22 million. The location was selected as a long-term investment in the redevelopment of the Arapahoe Square neighborhood. Redeveloped retail building originally built in 1915 that now holds the Woods Boss Brewing Co., an escape room and a kickboxing gym. 10

11 5280 LOOP The 5280 Loop is a proposed project to create a mile dedicated urban trail linking the neighborhoods of downtown. The loop will run through and link the LoDo, Ballpark, Arapahoe Square, Capitol Hill, Golden Triangle, La Alma/Lincoln Park, and Auraria neighborhoods of Downtown Denver. The loop would repurpose streets currently reserved for cars and retrofit them to prioritize people. Some segments will be completely car-free while others will have cars playing second fiddle to people walking and cyclists. The project is a joint effort between The Downtown Denver Partnership, Civitas, and the City and County of Denver. The planning process began in August of 2017 and final conceptual designs will be completed by the end of the year. Ballpark/Arapahoe Square- the segment of the 5280 loop that runs through the Ballpark and Arapahoe Square neighborhoods will run along 21st Street between Blake and Sherman streets. The goals are to create a linear park from Blake to Broadway, minimize automobile use to local access only and create a table top condition at cross streets, and increase park space adjacent to loop as much as possible along the entire corridor. Blake Walnut Larimer Lawrence Arapahoe Curtis Champa Stout California Welton Glenarm 11

12 TRAVEL DISTANCES WALK LAWSON PARK RINO ARTS DISTRICT 20TH & WELTON STATION UPTOWN 0 MINUTES 10 MINUTES BIKE CIVIC CENTER PARK LOHI CITY PARK CHERRY CREEK TRAIL 5 MINUTES 15 MINUTES RAIL 16TH STREET MALL COLORADO CONVENTION CENTER STADIUM AT MILE HIGH DENVER INTERNATIONAL AIRPORT DTC 35 MILLION SF OF OFFICE 150,000 EMPLOYEES 6 FORTUNE 500 COMPANY HEADQUARTERS 45,000 JOBS AT BUILD-OUT FITZSIMONS MEDICAL & RESEARCH CENTER 15 MINUTES 1 HOUR DRIVE CHERRY CREEK BOULDER COLORADO SPRINGS FORT COLLINS ROCKY MOUNTAINS 30 MINUTES 1.5 HOURS 12

13 ZONING SUMMARY There are 3 different building forms permitted in D-AS-12+ that have different requirements: DOWNTOWN ARAPAHOE SQUARE DISTRICT (D-AS-12+) In June of 2016, Denver City Council implemented zoning changes for Arapahoe Square to encourage growth. The rezoning created two new form-based zoning districts. GENERAL GENERAL WITH HEIGHT INCENTIVE POINT TOWER Max Stories 8 N/A N/A Max Feet Min. Build-To % 70% 70% 70% Setbacks Vehicle Access From Alley From Alley From Alley Upper Story Setback by Street 20th Street/Broadway N/A N/A N/A 21st Street/Park Ave All Other Streets 20th/Broadway/21st/Park Primary Street Wall Length within the Upper Story Setback All Other Streets Primary Street Wall Length within the Upper Story Setback Point Tower Floor Plate Max about 5 stories and % of Zone Lot Width 10 Min Setback* Above 5 Stories and 70 65% of Zone lot Width 10 Min Setback Above 5 Stories and % of Zone Lot Width 10 Min Setback* Above 5 Stories and 70 65% of Zone lot Width 10 Min Setback Above 5 Stories and % of Zone Lot Width 10 Min Setback* Above 5 Stories and 70 65% of Zone lot Width 10 Min Setback Above 5 Stories and 70 N/A N/A N/A 80 Max 80 Max 80 Max N/A N/A 10,000 Square Feet Primary Street Level Transparency 40% Min 40% Min 40% Min Limitation on Visible Street-Facing Parking N/A 30% Max of Zone Lot Width Street Level building frontage occupied by Street Level active uses 30% Max of Zone lot Width 100% 100% 100% Minimum Parking Required N/A N/A N/A Minimum Bicycle Parking Required 1 Space: 2 Units 1 Space: 2 Units 1 Space: 2 Units *Setbacks do not apply to Park Ave. NW of Broadway or SE of Welton. All Other Streets requirements applied 13

14 & PARK CHAMPA FOR MORE INFORMATION PLEASE CONTACT US BRYON STEVENSON Associate T bstevenson@aranewmark.com ARA Newmark 1800 Larimer Street Suite 1700 Denver, CO T ARA A NEWMARK COMPANY. All Rights Reserved CHRIS COWAN Executive Managing Director T cowan@aranewmark.com STEVE O DELL Executive Managing Director T odell@aranewmark.com JESSICA GRAHAM Director, Transaction Management T graham@aranewmark.com SITE