City of Lakewood Planning Update
Greetings Eiber neighbors,
We hope this update finds you safe and well. We would like to update our membership on some items relevant to city policy and development in the Eiber neighborhood.
Please feel free to reach out to us by direct contact, or via our facebook page, or by email to secretary.eiber@gmail.com. We look forward to hearing from you!
Lakewood Strategic Housing Plan
City Council will be considering adoption of the Lakewood Strategic Housing Plan at its regular session next Monday, 2/12/24.
The public comment period is open until noon on Monday on LakewoodSpeaks.org. Or you may choose to comment in person at the Council session Monday evening, beginning at 7pm in Council chambers at city hall.
You can review a copy of the Council packet and agenda, and leave written comments at LakewoodSpeaks.org. Related documents can be found at LakewoodTogether.org/HousingStrategy.
You may recall this document began its development over a year ago with stakeholder surveys, a housing study of market conditions and a presentation to Council at a Study Session in February of 2023. This was followed by a community Housing Survey and, later, an open house. The draft plan was then reviewed by council's Housing Policy Commission over the summer, where several amendments were made as a result of public comments received. Some of you may have commented at that time, and if so, thank you! It had some influence. The draft Plan then sat idle through the November election and council transition. This latest draft was presented to the new council at a Study Session three weeks ago, and is now set to be finally approved by City Council on Monday.
Through all of this, the Eiber Neighborhood Association board of directors has been working with other nearby neighborhood organizations to better understand the policy implications of this plan, and we do share some concerns.
The Plan is mainly focused on strategies to address the current housing affordability crisis, and it proposes many very good policy ideas. The ENA board recognizes our city is facing considerable affordability challenges, and supports the plan as it applies to affordable housing and homelessness. However, there are subtle statements and proposed initiatives that are intended to stimulate market-rate development as well, based on the economic theory that creating new higher-tier, high-density, market-rate housing will free up successively lower-tier opportunities on down the ladder, eventually resulting in more affordable housing opening up due to this upward migration. We have concerns about how effective this strategy would be, and therefore will not support any policy that relies on this concept.
The ENA board has resolved to join other North Lakewood neighborhood organizations in endorsing the objectives of the plan which directly address affordability, but not those aspects that would encourage market-rate development at taxpayer expense. This would include any subsidies, incentives, or waivers that do not directly provide affordable housing or housing security. Our reasoning is that poorly drafted policy based on this concept could result in potential exploitation of our neighborhoods by large private investment interests, and provide little to no affordable housing as a result.
Please take an opportunity this week to look at the Housing Plan on LakewoodSpeaks, and add your comments to the discussion, or join us at Monday's council session. Also, feel free to reach out to us at secretary.eiber@gmail.com.
Aspen Heights Lakewood Luxury Apartments
Aspen Heights Lakewood, the large luxury apartment project at 13th and Wadsworth in Eiber, recently suspended development due to financial difficulties. See this Denver Post article. It has been reported that the partnership is having trouble securing additional financing, and that there is some internal disagreement amongst the partners. Our research has revealed that there are contractor liens against the property exceeding $1M dating back to June of 2023. The partnership is reportedly working to resolve their financial constraints. The city has been in contact with the partnership, but no additional information has been released. The current permit is set to expire in June of this year.
Aspen Heights Partners LLC (AHP) is primarily a multi-family development company based in Austin TX. They are held by TriPost Capital Partners LLC, a New York-based private equity firm formed in 2014. In Austin, AHP recently partnered with Grand China Fund - a Beijing-based private equity firm - to develop a large student housing complex there. Another AHP project in Austin - the repurposing of a vacant health center into housing - has been cancelled by the city of Austin after six contract extensions dating back two years (KVUE Austin). AHP had initially proposed to provide 25% affordable units, then downgraded that proportion to 7% affordable, before finally determining any affordable housing would be infeasible for the project. AHP also manages single-family Build-to-Rent properties, an emerging investment-held development strategy that’s reshaping communities around the country.
The saga of Aspen Heights Lakewood continues, and they may pull this one off, but it does shed light on the risks to which the city and our community can be exposed from large investment interests and private equity funding.
City of Lakewood Comprehensive Plan Revision Process is Underway
You may have seen the flyer in the current issue of Looking@Lakewood, or received an email from the city, asking four questions about how you "Envision Lakewood" to be in 15 years. Envision Lakewood 2040 is the theme for the latest revision of the Lakewood Comprehensive Plan, due to be developed over the next year or so. By Colorado statute, all municipalities must update their comprehensive plans every 10 years. The 2015 Comp Plan "Moving Forward Together", set the stage for the planning and development we have experienced the past eight years in Lakewood. It also introduced the city's sustainability program, multi-modal transportation plans, parks and recreation, and other planning efforts.
The ENA Board will be monitoring this process closely. We hope to be invited to collaborate with the city and other neighborhood organizations throughout this process, but the city so far has been rather reserved. Over many months preceding the 2015 revision, representatives from neighborhood organizations across Lakewood were involved in advisory group sessions, which were very productive and, among other things, helped establish what boundaries do exist today between high-density development and stable neighborhoods. We hope our North Lakewood communities will be given an opportunity this time around too, and we are asking city council to encourage city management to not just reach out by survey, but actually engage in productive dialog with the community.
Please take this opportunity to respond to the survey, as simple as it is. A good response, with thoughtful ideas, can do a lot to help guide this planning effort in its early phases. The survey is open through the month of February. You can fill out an online survey at https://www.lakewoodtogether.org/compplanupdate, and also sign up for email updates.
Comprehensive Plan Community Engagement – Feb 9, 5pm, LUMC
Our sister neighborhood organization Sustainable Eiber is hosting a community meeting with the City of Lakewood’s Planning Department, to present more about the city’s Comp Plan process. Come join Sustainable Eiber on Friday, February 9, 5pm at Lakewood United Methodist Church at 1390 Brentwood.
Our Mission:
The Eiber Neighborhood Association is a not-for-profit community organization located in the city of Lakewood CO, registered with the Colorado Secretary of State, and whose boundaries are W Colfax to 6th Ave, Wadsworth Blvd to Oak St. Our mission is to “Preserve and enhance the quality of the Eiber neighborhood” through the goals and action steps outlined in the Eiber Neighborhood Plan. More information on our organization can be found at www.eiberhood.org and navigating the MENU to PLANNING > NEIGHBORHOOD PLAN. The ENA does not share or sell your contact information. Please feel free to share this email with your neighbors. You can also find us on Facebook at www.facebook.com/Eiberhood/. Thank you for your support!
We hope this update finds you safe and well. We would like to update our membership on some items relevant to city policy and development in the Eiber neighborhood.
Please feel free to reach out to us by direct contact, or via our facebook page, or by email to secretary.eiber@gmail.com. We look forward to hearing from you!
Lakewood Strategic Housing Plan
City Council will be considering adoption of the Lakewood Strategic Housing Plan at its regular session next Monday, 2/12/24.
The public comment period is open until noon on Monday on LakewoodSpeaks.org. Or you may choose to comment in person at the Council session Monday evening, beginning at 7pm in Council chambers at city hall.
You can review a copy of the Council packet and agenda, and leave written comments at LakewoodSpeaks.org. Related documents can be found at LakewoodTogether.org/HousingStrategy.
You may recall this document began its development over a year ago with stakeholder surveys, a housing study of market conditions and a presentation to Council at a Study Session in February of 2023. This was followed by a community Housing Survey and, later, an open house. The draft plan was then reviewed by council's Housing Policy Commission over the summer, where several amendments were made as a result of public comments received. Some of you may have commented at that time, and if so, thank you! It had some influence. The draft Plan then sat idle through the November election and council transition. This latest draft was presented to the new council at a Study Session three weeks ago, and is now set to be finally approved by City Council on Monday.
Through all of this, the Eiber Neighborhood Association board of directors has been working with other nearby neighborhood organizations to better understand the policy implications of this plan, and we do share some concerns.
The Plan is mainly focused on strategies to address the current housing affordability crisis, and it proposes many very good policy ideas. The ENA board recognizes our city is facing considerable affordability challenges, and supports the plan as it applies to affordable housing and homelessness. However, there are subtle statements and proposed initiatives that are intended to stimulate market-rate development as well, based on the economic theory that creating new higher-tier, high-density, market-rate housing will free up successively lower-tier opportunities on down the ladder, eventually resulting in more affordable housing opening up due to this upward migration. We have concerns about how effective this strategy would be, and therefore will not support any policy that relies on this concept.
The ENA board has resolved to join other North Lakewood neighborhood organizations in endorsing the objectives of the plan which directly address affordability, but not those aspects that would encourage market-rate development at taxpayer expense. This would include any subsidies, incentives, or waivers that do not directly provide affordable housing or housing security. Our reasoning is that poorly drafted policy based on this concept could result in potential exploitation of our neighborhoods by large private investment interests, and provide little to no affordable housing as a result.
Please take an opportunity this week to look at the Housing Plan on LakewoodSpeaks, and add your comments to the discussion, or join us at Monday's council session. Also, feel free to reach out to us at secretary.eiber@gmail.com.
Aspen Heights Lakewood Luxury Apartments
Aspen Heights Lakewood, the large luxury apartment project at 13th and Wadsworth in Eiber, recently suspended development due to financial difficulties. See this Denver Post article. It has been reported that the partnership is having trouble securing additional financing, and that there is some internal disagreement amongst the partners. Our research has revealed that there are contractor liens against the property exceeding $1M dating back to June of 2023. The partnership is reportedly working to resolve their financial constraints. The city has been in contact with the partnership, but no additional information has been released. The current permit is set to expire in June of this year.
Aspen Heights Partners LLC (AHP) is primarily a multi-family development company based in Austin TX. They are held by TriPost Capital Partners LLC, a New York-based private equity firm formed in 2014. In Austin, AHP recently partnered with Grand China Fund - a Beijing-based private equity firm - to develop a large student housing complex there. Another AHP project in Austin - the repurposing of a vacant health center into housing - has been cancelled by the city of Austin after six contract extensions dating back two years (KVUE Austin). AHP had initially proposed to provide 25% affordable units, then downgraded that proportion to 7% affordable, before finally determining any affordable housing would be infeasible for the project. AHP also manages single-family Build-to-Rent properties, an emerging investment-held development strategy that’s reshaping communities around the country.
The saga of Aspen Heights Lakewood continues, and they may pull this one off, but it does shed light on the risks to which the city and our community can be exposed from large investment interests and private equity funding.
City of Lakewood Comprehensive Plan Revision Process is Underway
You may have seen the flyer in the current issue of Looking@Lakewood, or received an email from the city, asking four questions about how you "Envision Lakewood" to be in 15 years. Envision Lakewood 2040 is the theme for the latest revision of the Lakewood Comprehensive Plan, due to be developed over the next year or so. By Colorado statute, all municipalities must update their comprehensive plans every 10 years. The 2015 Comp Plan "Moving Forward Together", set the stage for the planning and development we have experienced the past eight years in Lakewood. It also introduced the city's sustainability program, multi-modal transportation plans, parks and recreation, and other planning efforts.
The ENA Board will be monitoring this process closely. We hope to be invited to collaborate with the city and other neighborhood organizations throughout this process, but the city so far has been rather reserved. Over many months preceding the 2015 revision, representatives from neighborhood organizations across Lakewood were involved in advisory group sessions, which were very productive and, among other things, helped establish what boundaries do exist today between high-density development and stable neighborhoods. We hope our North Lakewood communities will be given an opportunity this time around too, and we are asking city council to encourage city management to not just reach out by survey, but actually engage in productive dialog with the community.
Please take this opportunity to respond to the survey, as simple as it is. A good response, with thoughtful ideas, can do a lot to help guide this planning effort in its early phases. The survey is open through the month of February. You can fill out an online survey at https://www.lakewoodtogether.org/compplanupdate, and also sign up for email updates.
Comprehensive Plan Community Engagement – Feb 9, 5pm, LUMC
Our sister neighborhood organization Sustainable Eiber is hosting a community meeting with the City of Lakewood’s Planning Department, to present more about the city’s Comp Plan process. Come join Sustainable Eiber on Friday, February 9, 5pm at Lakewood United Methodist Church at 1390 Brentwood.
Our Mission:
The Eiber Neighborhood Association is a not-for-profit community organization located in the city of Lakewood CO, registered with the Colorado Secretary of State, and whose boundaries are W Colfax to 6th Ave, Wadsworth Blvd to Oak St. Our mission is to “Preserve and enhance the quality of the Eiber neighborhood” through the goals and action steps outlined in the Eiber Neighborhood Plan. More information on our organization can be found at www.eiberhood.org and navigating the MENU to PLANNING > NEIGHBORHOOD PLAN. The ENA does not share or sell your contact information. Please feel free to share this email with your neighbors. You can also find us on Facebook at www.facebook.com/Eiberhood/. Thank you for your support!