The owners of Racines announced early last month that the restaurant would be shuttered because of the city’s order to close restaurants. But the owners said the restaurant would reopen at some point, but then totally close in early 2021.
That didn’t seem to make much sense. Call all the servers and cooks back, for just a few months? That might have worked, but so many things have changed over the past two months, which seem like 10 months. Much as I would have liked Racines to re-open, there was already a plan in place to sell the land to a developer. Probably better to remember when it was almost always full of people of all types, for fun or for business or celebrating. Perhaps it’s better that way. After all, the restaurateurs were in the business for decades, and now it’s time to do something else.
A developer based in Virginia has purchased the land, and submitted a concept plan to the city involving more that just the land under Racines on Sherman Street: There also are shops around the corner on East 7th Avenue that are to be part of the plan. The idea is to create an L-shaped building, with 411 apartments. The zoning on that land would allow one part of the building to rise to 12 stories, with the other part of the building up to 8 stories. The developer has said it will ask the city for an exemption to 13 stories and 9 stories. Well, of course. The architect on the project is Studio PBA.
In that part of the city, there have been more apartment buildings popping up before the virus shut a lot of things down, though construction is still underway throughout Denver. The one-story shops and restaurants are dwindling, following in the footsteps of Grant Street, where there are several new apartment buildings — just as in other parts of the city. At some point, everything is going to look like everything else.
Checking on the restaurant’s website, there is a note at the top that has probably not been changed: “We’re sorry that we have closed for now due to COVID-19. We miss all of you and look forward to seeing you again soon. We will be back in business just as soon as we can. Thanks for understanding.”
Well, we do understand, but as in many neighborhoods, we don’t really like it.
Below are two links to stories online this morning and a link to the architect’s website.
Multifamily firm AvalonBay is developer under contract for Racines site
Chandler in Denver 
There goes the neighborhood. How does this crap get financed ar a time when office buildings are on the en the endangered list?
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Because this isn’t an office building?
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Nope. Apartments. Notice the lovely pool!
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In a minute, I am going to post another concept plan, another project in Capitol Hill. I think that some of these developers have a stockpile of money, and there is a link to a story about how much $$$ the REITs have.
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it’s simply too big. It will continue the change in the character of the neighborhood. And of course the city will allow the increase to 9/13. I think Susan’s question about financing is very relevant. And how many units will be affordable? My guess is: none.
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I just responded to Susan’s concern. There is a link to a story that I am posting today. It involves the stockpile that REITs with billions of dollars ready to scoop up distressed properties. I roll my eyes. And, yes, another building at 8th and Sherman, but only 8 stories. Ugh.
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