DENVER: Pinkard Construction Company is kicking-off phase II preconstruction services on the Kuhlman Building redevelopment project at the Sloan’s Lake/St. Anthony Hospital redevelopment area.
The Kuhlman Building project is the adaptive reuse of the existing 45,000 square foot structure into for-rent affordable multi-family housing and retail/restaurant space. Funding for the project will come from developer equity, 4% Federal Low Income Housing Tax Credits by the Colorado Housing and Finance Authority, tax increment financing by the Denver Urban Renewal Authority, and a performance loan from the Denver Office of Economic Development.
The affordable housing portion will total 49 units with a mix of studios, one-bedrooms and two-bedrooms, along with two retail/restaurant pads – one in the Kuhlman Building and one stand-alone.
The new stand-alone pad will be approximately 2,200 sf warm grey shell retail building near the intersection of West 17th Avenue and Perry Street.
There will be approximately 5,000 sf of retail provided as warm, grey shell within the existing building.
Located at the northwest corner of West 16th Avenue and Perry Street, the site is approximately 50,000 sf.
Converting the Kuhlman Building will require gutting the interior but with only minor changes to the building’s exterior.
Over the years, the five-story brick building has served as a nunnery, a nursing school and dormitory, and administrative offices for St. Anthony hospital.
The Kuhlman Building is located within the larger Sloan’s Lake/St. Anthony Hospital redevelopment area to be simply named Sloans. When complete, the Sloans neighborhood will include an Alamo Drafthouse, Highland Tap & Burger, the Raleigh office building, a 12-story condominium tower, a seven-story apartment community, a 6,000 square foot retail strip, plus the Kuhlman development, all in a seven-block area between Sloan’s Lake and West Colfax Avenue.
The Kuhlman project is the result of a development partnership by Koelbel and Co. and Trailbreak Partners. The design is being provided by Van Meter Williams Pollack.
Pinkard’s phase II preconstruction services will include comprehensive budgeting and estimating services, value engineering, constructability review and defect prevention analysis. Earlier phase I services were for owner assistance during funding procurement.
The Federal Low Income Housing Tax Credit program encourages the construction and rehabilitation of low income rental housing by providing a federal income tax credit as an incentive to investors. CHFA is the designated allocating agency for Colorado. Because demand for the housing credits regularly exceeds supply, CHFA must consider the need for affordable housing throughout the entire state of Colorado. In 2015, CHFA received 54 applications for federal and/or state LIHTC, seeking a combined total of $43 million.
Pinkard Construction is the Colorado leader in preconstruction services for affordable housing/Low Income Housing Tax Credits. Pinkard currently has 11 HUD/LIHTC projects under construction, in preconstruction, or awaiting funding approval. Since 1962 Pinkard has provided construction management and general contracting services for 51 HUD projects totaling approximately 5,000,000 square feet.