Colorado-Real-Estate-Journal_389417

Page 8 - March 6-19, 2024 www.crej.com F rom the constructionof tene- ments in the 1800s to thehigh- rise steeland concrete luxury residential towersbuilt today, for-renthousinghas comea longway.Butone constant is the useofwood tobuild rentalhous- ing.Over theyears,architectsand engineershavepushed the limitsof whatwood cando,and theadoption of the 2015 InternationalBuilding Codeallows this to continue. Not everyone ishappy though. Therehasbeen some recentback- lashabout thenumberof four-and continueddemand forhousing,esca- lating construction pricesand theabil- ity toachieve even higherdensities under the recent IBC,wedon’tantic- ipate thenumber ofnewwood-frame buildingsadded to theDenver land- scapewilldimin- ish. Themost sig- ability todesignapodiumbuilding basedon theoverallbuildingheight. Podiumbuildingswillno longer be restricted toonlyone levelof podium structurebelow thepodium deck. This givesdesigners theability to designa seven-story,midrisebuild- ingwith five levelsofwood-frame constructionover two levelsof con- cretepodium –allabove grade.With thisadditionalabove-grade levelof concrete, the flexibilityandoppor- tunities to increasedensity, reduce costorbothbecomepossible. outof the ground to save the costof building subterranean,which is typi- cal in traditionalpodiumdesigns. Anotheroptionwouldbe to leave the subterraneanparking,which allowsanadditional levelof residen- tialunitswithin the concretepor- tionof the structure, thus increasing density.Bothoptionswill change how thedesignworldand residen- tialdevelopers lookat thepotential ofa site. When evaluatinganapartment site,adeveloper typically considers fourwood-frameapartmentdesigns: Photography©BradNicol The2015 InternationalBuildingCodeofferswood-frame construction theability todesignapodiumbuildingbasedon theoverallbuildingheight.Podiumbuildingswillno longerbe restricted to only one level of podium structure below the podium deck. October 2015 New wood-frame codes allow for more flexibility NathanSciarra, AIA Studio director, KTGYArchitecture + Planning,Denver 1536 Cole Blvd., Building 4, Suite 300, Lakewood, CO 80401 | 303-623-1148 | www.crej.com Jon Stern Publisher & Founder x 101 jstern@crej.com All rights reserved. No part of this publication may be stored, reproduced, or transmitted in any form or by any means without the publisher’s prior written permission. All contributed articles published in the Colorado Real Estate Journal represent solely the individual opinions of the writers, and not those of the Colorado Real Estate Journal. REPORT AN ERROR IMMEDIATELY (ISSN 1060-4383) Vol. 33 No. 5 www.crej.com EDITORIAL CONSULTANT: Jill Jamieson-Nichols PRODUCTION/GRAPHIC DESIGN: Heather Lewis ext.108 hlewis@crej.com CREJ CONFERENCE SERIES: Jon Stern ext.101 jstern@crej.com ADVERTISING: Lori Golightly ext.102 lgolightly@crej.com CUSTOMER SERVICE: Jolene Wollett ext.103 jwollett@crej.com EDITORIAL Avalon Jacka, Reporter Sales, Lease and New Development Projects: Office, Industrial, Multifamily, Retail, Health Care, Senior Housing, Hotel, Land Finance Transactions ext.107, ajacka@crej.com Kris Stern Associate Quarterlies Publisher: Office & Industrial Properties, Retail Properties, Multifamily Properties, Property Management, Health Care, Senior & Life Sciences Editor: Construction, Design & Engineering News; Property Management News; Who’s News; and Expert Articles, including Law, Accounting and Finance Publisher: Building Dialogue ext. 109, kostern@crej.com MARKETING Lori Golightly, Director of Client Services Advertising: Print & Digital Conferences: Exhibitor/Sponsor Information ext. 102, lgolightly@crej.com Life Science T he launch of Colorado Hub for Health Impact, a new national economic devel- opment campaign, marks a critical milestone for the state to become a global leader in life sciences innovation. Backed by a coalition of 22 partners repre- senting Colorado’s thriving life sciences community, economic development groups and local governments, the campaign aims to position Colorado as America’s epicenter for talent, investors and life science-cen- tric companies looking to start, relocate or expand in our state. Our goal is to build even stron- ger collaborations and drive breakthroughs that save and change lives around the world. n Colorado: the epicen- ter of health innovation. The Colorado Hub for Health Impact campaign underscores Colorado’s leading innova- tion talent, central location, robust infrastructure, collab- orative community, reasonable costs and unmatched qual- ity of life as key reasons why companies considering reloca- tion or expansion should join the state’s health innovation ecosystem. Colorado’s thriv- ing life sciences community is renowned for its leading- edge research, development and commer- c i a l i z a t i o n , with a glob- al patient impact. With one of the world’s top inter- n a t i o n a l airports, a rate-friendly freight envi- r o n m e n t and move- in ready or customizable lab space across the state – millions of square feet of it planned or in development – Colorado has the room to build, developers who understand the life sci- ences industry, and a location that attracts talent and is easy to access. n Partnership for progress. Led by Colorado BioScience Association, Colorado Health & Tech Centers, Denver Metro Chamber of Commerce, Metro Denver Economic Develop- ment Corp. and the U.S. 36 Collaborative, along with other key stakeholders, the consor- tium has come together to cre- ate and fund this national eco- nomic development campaign. This unprecedented collabora- tion demonstrates the shared vision for Colorado’s future as a world-class hub for health innovation. The following critical factors make Colorado ideal for life sciences: n Talent and inclusiv- ity. Colorado boasts educated, motivated and welcoming pro- fessionals, coupled with top- ranked academic and research institutions, making it a lead- ing national and international location for innovation talent. The state ranks No. 1 in the concentration of biomedical and bioengineers in the coun- try and leads in post-secondary educational attainment. n Capital and growth. Col- orado’s life sciences success is fueled by funds from pub- lic, private, federal, state and foundation sources, with com- panies raising $1.47 billion in 2023. This marked the seventh consecutive year of Colorado’s life sciences community raising more than $1 billion. n Location and real estate. Positioned at the center of the country, Colorado offers a com- petitive advantage with direct access to more than 200 non- stop destinations from Denver International Airport, the larg- est U.S. airport and the second largest in the world. The state also provides ample room for growth with 3.5 million sf of planned or under-construction life sciences lab and office space. n Lifestyle and culture: Colorado’s 38,000 life sciences professionals enjoy an out- standing quality of life, with cities ranked among the top 10 places to live in the country, legendary outdoor activities, Michelin-starred restaurants and leading professional sports teams. n Community and infra- structure. The state’s welcom- ing community is conducive to collaboration, with life sciences clusters along Colorado’s Front Range, five R-1 designated research universities, and over 30 federal labs, making it one of the largest concentrations in the U.S. n Costs and incentives. Col- orado offers lower costs than coastal cities, along with more amenities, space, and sunshine. The state also provides support for companies seeking reloca- Colorado Hub for Health Impact to draw health innovators Afshin Safavi, Ph.D. Founder and CEO, Colorado Health & Tech Center, and partner, Colorado Hub for Health Impact Please see Safavi, Page 22 Colorado Hub for Health Impact Colorado Hub for Health Impact Map Shows Concentrations of Life Sciences Assets Across the State.