Bacon And Beer Classic Coming To Denver For 4th Annual Fest

Bacon And Beer Classic Coming To Denver For 4th Annual Fest

by Mark Smiley

The 4th Annual Bacon and Beer Classic will be held at Broncos Stadium at Mile High on Saturday, May 11, 2019. Attendees will be treated to unlimited bacon dishes prepared by local chefs from 30+ Denver restaurants, 100+ craft beers from regional breweries, music, games, and more on the Broncos’ iconic home turf. There will be two sessions, afternoon (12 p.m. to 4 p.m.) and evening (5 p.m. to 9 p.m.).

15% Off: Chronicle readers can enter the code GLENDALE to get 15% off tickets to the Bacon and Beer Classic on May 11, 2019, at Broncos Stadium at Mile High.

This fest has quickly become one of the more popular ones in a sea of beer fests throughout the metropolitan area. One thing that makes this fest unique is the fact that guests are on the field of Mile High Stadium. And, those that purchase a VIP ticket are able to have exclusive access to the visitors’ locker room for a sampling of pork belly and different craft beers.

All attendees will be able to bob for bacon, sample beer in a blind taste test, strut in the bacon beauty pageant, and compete in the Hormel bacon eating contest. Guests also will be able to try their hand at giant Jenga, strike a pose at the photo booth, battle it out on the bungee run, and brand themselves with bacon and beer-inspired tattoos.

As always, tickets are all-inclusive, which means you can sample bacon and beer throughout the stadium without ever taking out your wallet. Choose from three ticket types: General Admission, Power Hour, or VIP. General Admission tickets start at $69, Power Hour tickets start at $89, and VIP tickets start at $119.

Bacon And Beer: The 4th Annual Bacon and Beer Classic will be May 11 at Broncos Stadium at Mile High. Tickets are available at www.baconandbeerclassic.com.

VIP and Power Hour ticket holders enter the stadium an hour early through an expedited line. VIPs also enjoy access to an exclusive lounge in the visiting team locker room with a pork belly tasting, limited-edition craft beer, a donut wall, and beer and cheese pairing. All tickets include a commemorative tasting glass and access to the Bacon and Beer Classic mobile app for vendor information, a stadium map, and more.

Visit www.baconandbeerclassic.com for information and to purchase tickets. Chronicle readers can take advantage of an exclusive 15% discount by entering GLENDALE at checkout.

Experts Address Economic Growth: How Far Can Colorado Go?

Experts Address Economic Growth: How Far Can Colorado Go?

(Before We Have To Fix Stuff?)

by Ruthy Wexler

Economic Forecast Breakfast: Over 400 business owners and entrepreneurs kicked off the new year at South Metro Denver Chamber’s annual “Economic Forecast Breakfast” held at CU South on January 18, 2019. The sold-out event’s two speakers exhorted attendees to collaborate with each other, to see the opportunities for the area’s growth and to understand the challenges that might obstruct that growth.

The invitation to this year’s South Metro Denver Chamber’s “Economic Forecast Breakfast,” held at CU South, said attendees would learn “how Colorado businesses will fare under the new [Democratic] legislature.” But speakers at the January 18 event eschewed partisan concerns and concentrated on the big picture. J.J. Ament, CEO of the Metro Denver Economic Development Corporation, painted the positive half of that picture, describing past successes and a limitless future, while economist Henry Sobanet lobbed gentle warnings to the sold-out crowd: the world has changed, and Colorado must change with it.

Education And Transportation

Moderator, Lone Tree Mayor Jackie Millet, began the discussion — “How can we be successful, as a state, as a region? We can accomplish so much as a collective!” sounding a theme of collaboration that presenters would echo, in different ways.

Millet introduced Sobanet (“I always learn something when Henry talks!”), currently CFO for Colorado University, previously budget chief for Colorado governors Bill Owens and John Hickenlooper; Sobanet did, in fact, explain economic concepts in an unusually clear fashion.

“The world does not look like it did 10 years ago,” Sobanet began. “Ways of making a living have changed. The model of retiring after 30 years with one corporation, — certainly changed. Demographics have changed …”

Sobanet showed how the 65-and-older demographic will grow disproportionately by 2025, as will the 85-and-older set, previously not considered significant. Another rapidly growing group: those just entering the workplace.

“Fifteen to 20 years of globalization, a lot of automation and these demographic shifts … These are the forces underpinning economic issues.

“The aging population and the resultant impact on revenue and spending … are going to collide with an incoherent school finance system and insufficient money for infrastructure,” Sobanet outlined, then simplified: “The challenge going forward is education and transportation.”

Bad People Or Bad Systems?

The knotty heart of the matter, Sobanet offered, is three Colorado laws: the Gallagher Amendment, which in 1982 changed the way property tax was configured; TABOR (taxpayer bill of rights), which in 1992 began limiting the amount of revenue Colorado can retain and spend; and Amendment 23, which in 2000, changed how Colorado funds public schools.

As intently as everyone stared at Sobanet’s slides of pie charts and percentages, many found it difficult to grasp exactly how they connected. “I’m a financial person and even I didn’t quite understand,” said Louis Llanes, founder of Wealthnet Investments. But Llanes, like everyone, got Sobanet’s gist: these laws will prevent Colorado from getting the revenue it needs to thrive.

“Isn’t TABOR set up so if Colorado needs cash, they can ask the voters?” someone asked.  

Yes, said Sobanet, who pointed out it wasn’t sensible to put these decisions on voters’ shoulders. “The laws, you’ve seen, are complicated. And for politicians to say they want taxes raised is political suicide.

“I’d like you to entertain a hypothesis,” Sobanet offered. “Is it bad people or bad systems?”  

Colorado Loves Business!

J.J. Ament took the floor in typical upbeat fashion — “Let’s talk about economic growth!” — and recalled just how rapid Denver’s growth has been. “Back in the ’80s, you could drive a car from Union Station to the State Capitol Building and not worry about hitting a soul.

“Now, everyone wants to live here,” beamed Ament. “The Denver International Airport flies more places non-stop than any other airport! Denver is a brand!”

The potential for economic growth is endless if we do it right, Ament opined. “Denver is comprised of some 70 communities. But we have to take a regional approach. Businesses go elsewhere if they see we can’t get along.”

When Amazon put out requests for proposals in 2017, Ament gathered business leaders and submitted a package, including a film he showed that morning: ordinary and famous Coloradans happily claiming, “Colorado loves the outdoors!” “Colorado loves the Broncos!” “Colorado loves business!”

Amazon chose to build elsewhere but Ament, unfazed, regards the submission process with pride. “We spoke with a collaborative voice. Not with 70 different voices. One voice.” He shared other companies that recently relocated to Colorado, “like the VF Corporation, which brought 6,800 jobs.

“This is our goal,” Ament stressed. “The creation, recruitment and retention of good jobs.”

Takeaways

“My biggest takeaway was how we’re sweeping problems under the rug,” said Tom Skelley, of Evolution Communications Agency in Littleton, adding, “I really liked something J.J. said. ‘In between Utopia and the Apocalypse, we need legislators who make decisions based on facts, not ideology.’”

“I am one politician,” said Millet, “who advocated for sales tax to pay for transportation.”

“Colorado’s one of the top five states,” said an attorney on his way out the door. “But we got a C+ rating for infrastructure.”

“Now that you know a little bit more about how the systems work,” Sobanet said, “tell your public officials you would back them to change the system …

“The whole purpose of coming to an event like this is not just to make your business better. It’s making it all better.”

Not Here

Attendees began walking to their cars. Under the big Colorado sky, statues of bears and wolves dotted the snowy, quiet campus. “I’ve heard Henry has been pushing to raise taxes for years,” said a realtor who owns her own agency. “But it’s not gonna fly. Not here. There’s got to be another way.”


Hilltop Neighbors Claim Victory In Defeating Green Flats Project

Hilltop Neighbors Claim Victory In Defeating Green Flats Project

Denver City Council Votes Against Proposed 3-story Condominium Project On Holly Street
by Mark Smiley

In a stunning turn of events, Hilltop residents, led by Lise Uhrich through an intricate petition process, were able to force the Denver City Council to require a super majority in order to approve a 3-story, 23 condominium project earmarked for Holly Street in between Alameda and Cedar in the Hilltop Neighborhood. On January 7, 2019, the project passed with an 8 to 5 vote, one vote shy of an approval.

One Vote Short: The site of proposed 3-story, 23-unit condominium project is immediately to the south of Park Burger and Novo Coffee on South Holly Street. On January 7, 2019, Denver City Council only carried 8 votes to pass the rezoning application, one vote short.

According to City of Denver, neighboring property owners who oppose the rezoning may file a protest petition with the City Council no later than seven days prior to the City Council public hearing to trigger a super-majority vote requirement (as opposed to a simple majority) at the public hearing. Protest petitions require signatures from owners of 20 percent of the total land area within 200 feet of the subject property.

The required number of signatures were collected by Uhrich and the neighbors and thus required the super majority of the City Council. Mary Beth Susman, who represents District 5 where this proposed project sits, voted in favor of the development.

In a Facebook post she has since removed, Susman stated: “Last night I voted to support a re-zoning proposal in my district that would have given the neighborhood more control on the scale and design of the project. However due to super majority requirements, even though it was supported 8-5, it failed. Now the area that has a use-by-right for denser housing can be built with no input required from neighborhood or council.”

Under Fire: Councilwoman Mary Beth Susman voted in favor of the development on South Holly Street in her district and has received blowback from her constituents.

Susman continues: “Providing a variety of housing opportunities so people of different incomes have access to all our neighborhoods is an important goal for 21st century communities. Inclusivity leads to a diversity of ideas and problem solving and a community knitted together by geography rather than separated by income.

“I also believe in neighborhoods having some say about scale and character. Now we’ve lost both by denying this re-zoning. But I have a renewed commitment to inclusive neighborhoods like we built at Lowry and Stapleton with the participation of all voices.”

Local relator Denice Reich, who has been vocal in her opposition, disagrees with Susman’s assessment: “. . .the development lost 15,630 sq. ft. of space when its zoning change was voted down,” said Reich. “The developer will now only build on 10,209 sq. ft. This allows the other 15,630 sq. ft. to remain single family and allows the area to maintain some of its green space and keeps another unnecessary concrete monstrosity from being built.”

Denver City Council District 5 candidate Amanda Sawyer, who is opposing incumbent Mary Beth Susman in the May election, also sided with the Hilltop neighbors: “Community members expressed their concerns that the development would have towered over the single-family homes and one-story businesses on the block, and that it would have been out of character for the neighborhood,” said Sawyer. “Not to mention the safety and traffic issues at one of the main entrances to the Hilltop and Crestmoor neighborhoods. Because of community involvement, now what will be built on that property is 15-20 smaller condos that will provide housing opportunities for the ‘missing middle’ price point but add less density and — hopefully — fit better with neighborhood character.”

Other critics say this kind of project does not belong in the neighborhood, especially along Holly Street where 20,000 cars pass by each day according to a 2014 study. This study was done before the building that contains Park Burger was built.

So, a plan that was hatched early last year and moved through the process through most of 2018 is now off the board. Jason Lewinston, the developer for the project, will have his resilience put to the test. Currently, it does not appear he has enough support from the neighbors or the City Council to propose another project.


Four Of Valley’s Best, Brightest Make Forbes’ Young Entrepreneurs List

Four Of Valley’s Best, Brightest Make Forbes’ Young Entrepreneurs List

Brilliant Young Minds Ages 12-29 Dream Up New Products In Science, Energy, Retail And Food

by Glen Richardson

A 29-year-old who makes funny, cute T-Shirts for geeks, nerds and pop culture lovers and a 22-year-old who makes non-dairy, high protein, low sugar bars and cookies have made Forbes’ 2019 “30 Under 30” feature that annually draws attention to the top young entrepreneurs in the U.S. and Canada.

Ramy Badie’s Denver-based TeeTurtle — whose apparel, toys and games are licensed characters for Disney and Marvel — was expected to generate $20 million in 2018 revenue. Daniel Katz’s high-protein and low-sugar No Cow candy bars are in 15,000 stores nationwide and recorded $10 million in 2017 revenue.

Also making the list is Joel Jean, a cofounder of Swift Solar, a startup manufacturing lightweight solar panels that are cheaper and more efficient than conventional panels. Finally, the list includes Denver student Gitanjali Rao, winner of the 2017 Discovery Education 3M Young Scientist Challenge. Now 12, she invented a quick, low-cost test to detect lead-contaminated water.

Designed To A Tee

During his first year in medical school, 29-year-old Ramy Badie entered a T-shirt design contest to win money for tuition. He ended up dropping out of school to found TeeTurtle. He is the winner in Forbes’ Under 30 Retail and Ecommerce category.

No matter what the product line, creator Badie’s undertakings are always about the design. As an example, to fund production of a card game about Unicorns he set out to raise $10,000 to fund production of the game on Kickstarter. He reached his goal in just 71 minutes and collected more than $1.8 million for the project. Support from more than 30,000 backers was more than every other project on the fundraising website at the time.

On TeeTurtle’s website Badie explains the company this way: “We are a bunch of kids at heart having a great time because every one of us is passionate about what we do and we believe in the company and the product.”

A No Cow Footprint

When Daniel Katz dropped out of college after just three months in 2013 to hawk his own line of energy drinks, his intense selling schedule found him eating protein bars instead of real meals. But whey protein upset his stomach, and gave him a new product idea: a high-protein but low-sugar and non-dairy bar. The Denver-based company has raised $100,000 in funding from blue chip investors like General Mills’ venture capital arm 301 Inc.

The rapidly growing distribution footprint of No Cow — with offices on Blake St. in LoDo — has products in more than 15,000 stores across the country including GNC, Vitamin Shoppe, CVS, Sprouts, and Wegmans.

After initially moving the business to his hometown of Cincinnati, Katz relocated his growing startup to Denver, due to the physically mindful attitudes of Colorado consumers. “People here are active, they’re happy, they’re on trend,” says Katz. “And that’s who we represent as a brand.”

Solar Cells Shine

As a Ph.D. student at MIT, Joel Jean, was a member of a research team that developed record-thin and lightweight solar cells. As a co-founder of Swift Solar, he aims to develop lightweight, flexible, and efficient solar panels using metal-halide perovskite materials.

Prior to joining Swift, he served as Executive Director of the Tata-MIT GridEdge Solar research program, which focuses on scale-up of new solar photovoltaic technologies for India and other developing countries.

As a researcher and NSF Fellow at MIT, he developed ultra-lightweight and flexible solar cells that were recognized by the Katerva Award in 2017. He co-authored the MIT Future of Solar Energy Study and has worked extensively on emerging PV materials and devices, techno-economic analysis, and energy and climate policy. Jean, 29, holds a PhD and SM in electrical engineering from MIT and a BS with distinction from Stanford University.

Getting The Lead Out

As an 11-year old school girl Gitanjali Rao took the top prize in the 2017 Young Scientist Challenge for her lead-detection device, which is capable of finding lead in drinking water with the aid of a mobile app. As the winner of the Young Scientist Challenge she won $25,000. Now 12, she is using the prize money to refine the device so it can be sold commercially.

She was selected from 10 finalists who spent three months collaborating with scientists to develop their ideas. Her device uses carbon nanotubes to detect the presence of lead. Thousands of U.S. water systems are reportedly contaminated by lead. Until now, testing reliably for lead was expensive and meant sending away samples for analysis.

But Gitanjali’s portable invention — named Tethys, after the Greek goddess for fresh water — allows a sensor linked to a mobile app to give an accurate, almost immediate analysis via a mobile app. “If you take a shower in contaminated water, you do get rashes and that can easily be studied by an epidemiologist,” she explains. “And if somebody drinks lead in their water, their children might have small, minor defects.”

Playing His Cards Right: Ramy Badie’s TeeTurtle was expected to generate $20 million in 2018. To fund production of this Unicorns card game he set out to raise $10,000 on Kickstarter. He reached his goal in 71 minutes and collected more than $1.8 million for the project.

No Cow  Candy Man: Daniel Katz’s high-protein and low-sugar  No Cow candy bars are in  15,000 stores nationwide  and recorded  $10 million in 2017 revenue.

Bright Breakthrough: A cofounder of Denver’s Swift Solar, Joel Jean was a member of the research team at MIT that developed record-thin and lightweight solar cells.

Youthful Inventor: Gitanjali Rao’s lead-detection device finds lead in drinking water with the aid of a mobile app. The Young Scientist Challenge winner is using the $25,000 prize money to refine the device so it can be sold commercially.

Wrap Up The Year With Fun Holiday Events, Shopping Here Are Heartwarming Ways For You To Chase The Bah-Humbugs Away And Feel Warm Fuzzies

Wrap Up The Year With Fun Holiday Events, Shopping Here Are Heartwarming Ways For You To Chase The Bah-Humbugs Away And Feel Warm Fuzzies

by Glen Richardson

Holidays Aglow: The holidays are about candy canes and lights all aglow plus the hearts we touch with the gifts we give and the care we show.

Festive Blast: Annual Tuba Christmas is a heartwarming way to blast the Bah-Humbugs away during the holidays. Many of the region’s tuba players are at the DCPA complex Dec. 16, 12:30 p.m.

Winter Warmth: One way to have fun and enjoy shopping is at holiday markets. Cherry Creek’s Winter Fest on Fillmore features outdoor fire pits and hot chocolate Dec. 8.

Holidays! Holidays! Holidays who can’t wait for them? Yes, the holidays are here and what an exciting time of the year for kids and adults alike. The holidays are about enjoying time with family and friends. Many of us decorate our homes and places of work to cherish the season with Christmas trees, Hanukkah lights, garland and candles.

Dancing With Joy: Entertainment fills the season with joy and Granny Dances To A Holiday Drum is one of the season’s most popular. This year’s dancing is Dec. 1-6.

Here’s our holiday guide of heartwarming ways to chase the Bah-Humbugs away and enjoy shopping, having fun and celebrating this most wonderful time of the year:

Holiday Events

White Christmas Ball: Dance to big band music at this 1940s event among vintage vehicles, sleighs and Christmas trees in the Hyatt Convention Center, Dec. 1.

Granny Dances To A Holiday Drum: A beautiful display of dance, live music and storytelling at Cleo Parker Robinson Dance, Dec. 1-16.

Irving Berlin’s White Christmas: A timeless holiday tale filled with song, dance, snow and holiday cheer in the Buell Theatre, Dec. 5-15.

A Classical Christmas: The Colorado Symphony performs arrangements by Handel, Mozart, Holst, Barber and Berlioz at Boettcher Concert Hall, Dec. 7-8.

Great Russian Nutcracker: Moscow Ballet brings performers, hand-painted sets, snow maidens and nesting dolls to the Paramount Theatre, Dec. 7-8.

Ten Tenors: Australia’s tenors join the Symphony for operatic versions of White Christmas, Joy to the World and Feliz Navidad in Boettcher Hall, Dec. 9.

Cirque Stars: Holiday cirque stars fill the Paramount Theatre with magic, circus acrobatics and music Dec. 16.

A Colorado Christmas: Warm sounds like Sleigh Ride, Dance of the Sugar Plum Fairy and The Nutcracker fill Boettcher Hall with festive tunes, Dec. 14-16.

A Legendary Christmas: Crooner John Legend sings and plays songs from his newly released holiday album at the Bellco Theatre, Dec. 15.

The Nutcracker: Take the family to Ballet Ariel’s imaginative, beautiful version of toy soldiers and Sugar Plum fairies at the Lakewood Cultural Center Dec. 15-27.

Tuba Christmas: Tap you

Nutcracker Soars: The Valley’s favorite holiday tradition, Colorado Ballet’s The Nutcracker has performances at the Ellie Caulkins Opera House, Nov. 24-Dec. 24.

r toes to your favorite holiday tunes played by many of the region’s tuba players at the Denver Performing Arts Complex, Dec. 16.

Celtic Woman Christmas Tour: Multi-platinum all female Irish musical group is accompanied by the Colorado Symphony at Boettcher, Dec. 17.

Brian Setzer Orchestra: The 19-piece Grammy winning orchestra brings its 15th Anniversary Christmas Rock Tour to the Paramount Theatre, Dec. 17.

Holiday Brass: The Colorado Symphony Brass plays carols, classical favorites, jazz transcriptions and movie holiday music at Boettcher, Dec. 19.

Appalachian Christmas: The Mark O’Connor Band plays country, pop, bluegrass and chamber music at the Paramount Theatre, Dec. 20.

Too Hot To Handel: Guest soloists Cynthia Renee Saffron & Lawrence Clayton join the Symphony Chorus for R&B-infused concert at Boettcher, Dec. 21-22.

A Magical Cirque Christmas: Holiday cirque features magic, circus acrobatics, comedy, live music and caroling at the Paramount Theatre, Dec. 26.

Songs For The Season: New York singer-songwriter Ingrid Michaelson croons songs from her new holiday album accompanied by the Symphony at Boettcher, Dec. 30.

A Night In Vienna: The Colorado Symphony plays a selection of polkas, waltzes and marches to waltz you into the New Year at Boettcher, Dec. 31.

Holiday Markets

Holiday Flea: Weekends of shopping on the plaza at Denver Union Station, Dec. 2, 7-9 & 14-16. Regional artists and craft people sell clothing, jewelry, art & foodstuffs.

Improper City Makers Market: An art-focused pop-up shop with live music, food trucks at 3201 Walnut St., Dec. 7.

Winter Fest On Fillmore: Entertainment, face painting around outdoor fire pits with hot chocolate and refreshments for Cherry Creek North shoppers, Dec. 8.

South Gaylord Holiday Fest: Shop historic street while listening to the Original Dickens Carolers and donate to the Santa Claus Shop, noon-4 p.m. Dec. 8.

Jackalope Indie Artisan Fair: Shop for fashions, accessories, home décor, art and food from 150 artisans in the McNichols Bldg., Dec. 8-9.

Shopping Districts

Cherry Creek Shopping Center: Shop 160 stores including Nordstrom, Neiman Marcus, Macy’s, plus live music and holiday entertainment.

Waltzing Into New Year: The Colorado Symphony plays polkas, waltzes and marches to waltz us into the New Year at Boettcher, Dec. 31.

Cherry Creek North: Home to 16 blocks of fashion stores like Andrisen Morton, Hermes, Lawrence Covell, Loro Piana and St. John.

Glendale: Premier shopping destination with a Super Target, World Market, Bed Bath & Beyond, Home Depot, Staples, The Bookies and dozens of unique local shops.

Larimer Square: Shop one-of-a-kind stores in Victorian buildings along street with distinctive fashion and specialty boutiques in city’s oldest district.

Old South Gaylord: Shop the second oldest shopping district in Denver featuring quaint shops, fine art, fashion and unique gifts.

Downtown Denver: Central Denver’s best holiday shopping is at the Denver Pavilions and along the 16th Street Mall.

Independent Shopping

Adornments: Clothing, jewelry and accessories in a mix of art, fashion and luxurious fabrics in this true Cherry Creek boutique on 3rd Ave.

Bloom By Anuschka: Upscale florist and home furnishings store at 3rd and University offering chic floral arrangements, furniture & accessories.

Harriet’s: Contemporary Cherry Creek woman’s boutique selling casual elegance in women’s fashions including sweaters, scarves and handbags.

Saks Galleries: Family owned in Cherry Creek for over 50 years specializing in 19th to 21st century American & European oils, watercolors and bronzes.

Mariel: Upscale Cherry Creek boutique selling women’s clothing & accessories, including evening wear, shoes, hat and bridal gowns.

Flower Power: Exquisite independently owned flower boutique on E. Virginia Ave. creating everyday arrangements plus wedding, special event florals.

Arts at Denver: Longtime Old South Gaylord gallery showcasing original oil paintings by more than 30 Colorado artists plus designer jewelry.

Two Sole Sisters: High-end South Gaylord store selling seasonal handmade women’s shoes, boots, sandals and accessories.

Barbara & Company: Fashionable South Gaylord women’s clothing boutique selling designs from Europe, New York and Los Angeles.

Robert Anderson Gallery: Exceptional galley on E. Colfax offering unique photography, photomontages plus glass sculpture and paintings for the holidays.

LeGrue’s: Landmark Christmas and flower shop on S. Broadway is holding its retirement sale offering savings up to 60% off before closing.

Meininger Art Supply: Family owned Broadway candy store for artists selling paints, paint brushes, pens, paper, markers, color pencils and other art supplies.

Paradise Baggage Co: State’s largest luggage store on S. Broadway featuring a variety of luggage and travel accessories, plus luggage repair services.

The Bookies: Independently owned bookstore off Colorado Blvd. in Glendale with over 100,000 titles plus large selection of toys, games, puzzles and gifts.

Dardano’s: Longstanding, family-owned store specializing in comfort footwear, accessories and shoe repair on S. Colorado Blvd.

Colorado Gold Mart: Glendale store on S. Colorado Blvd. buying and selling vintage watches, new & used jewelry plus buying and selling precious metals.

Spectacular Summer Surge In Denver’s Short-Term Rental Listings

Spectacular Summer Surge In Denver’s Short-Term Rental Listings

Value Has Grown To $112 Million In Just 12 Months; Complaints Soar As Homes Become The Motel Next Door

by Glen Richardson

Highlands Hot: Unique and nostalgic homes have made short-term rentals in the Highlands neighborhood one of the hottest.

Valley neighborhoods are becoming more and more concerned about short-term rentals by homeowners through Airbnb and others. Their complaint is about the stream of homeowners, some new, renting the house next door for days or up to a few weeks. In neighborhoods such as the Highlands and the Golden Triangle many say the annoyance is progressively on the rise and threatening to escalate into citywide anger and fury.

That’s not a big surprise to Denver: Between January and July of this year the city received 112 complaints concerning primary residence, typically from local neighbors. Furthermore, residents contend that it’s unfair to expect neighbors to be the driving force behind legal compliance.

More than a year and a half after the City of Denver first tried to crack down on short-term rentals, the blossoming industry — buoyed by thousands of new homeowner hosts — has consistently stayed steps ahead of regulators. City records, combined with data provided by Denver-based analytics firm AirDNA reveals incessant problems with the city’s efforts to control a market that is bringing in more than $100 million a year.

Compliance Collapse

According to a study done and reported by BusinessDen — a website for local business news — less than half of the city’s known short-term rental landlords comply with licensing regulations. The bottom line, the study concludes: “The primary-residence requirement, designed to calm the fears of homeowners that their residential neighborhoods could become dominated by the motel next door has proven toothless and largely unenforceable.”

Denver’s Department of Excise & Licenses says the compliance rate is down due to the surge in people listing short-term rentals in the city. That’s because short-term rentals in Denver have grown in value to at least $112 million in the last 12 months. Moreover, it’s expected to top $200 million by 2021. AirDNA figures also show that properties in prime locations have annual cash flow topping six figures.

In only eight years San Francisco-based Airbnb’s initial plan to allow homeowners to host business travelers in a spare bedroom or to rent their family home to tourists while they’re out of town has made it a $25 billion c

Home Away From Home: Price versus hotels and all the comforts of home have given a big boost in demand for short-term rentals.

ompany. The reason is simple: In comparison to prices for staying in a hotel the cost of a short-term rental is significantly lower. A short-term one-bedroom home in Denver often starts as low as $50 per night. With a hotel there’s typically a bed, a television and maybe a desk and chair. With short-term rentals travelers think they’ve never left home.

Seeking Visitor Dollars

Recognizing the economic benefit to the city coming from short-term rentals Visit Denver — the private, nonprofit association that markets metro Denver — touts on its website that the city has approved and is licensing short-term rentals. The site does urge visitors: “If you are visiting Denver and interested in renting a home, or part of a home, for fewer than 30 days, make sure that you rent from homeowner-hosts who are licensed by the City and County of Denver.”

Denver’s rules don’t allow property owners to run more than one Airbnb location other than a basement or carriage house. Nevertheless, AirDNA records indicate that at least 39% of the city’s properties are offered full-time year-round. More: Another 17% run more than one property. Furthermore, multi-listing hosts account for 40% of Denver’s rentals on Airbnb or about 2,000 listings.

Excise & Licenses has only a single compliance officer to handle 2,200 unlicensed rentals plus another 2,000 listings run by mult

Area Anxiety: Residents worry growth of short-term rentals in Denver’s most popular neighborhoods will change their character and transform the quality of life.

i-unit hosts (prohibited altogether under Denver law). The department’s six inspectors help with short-term rental issues but also deal with the city’s 180 other business licenses plus evolving industries such as marijuana. George Mayl, president of Inter-Neighborhood Cooperation (INC), says it best: “They’re undermanned and understaffed.”

Beginning April 1 of this year Airbnb started collecting Denver Lodger’s tax on sales of short-term lodging. The deal resulted in the city receiving $3 million while not forcing short-term rental property owners to send taxes to the city. During the same period Airbnb made $69 million from rentals. Based on AirDNA data, the city should have received more than $7 million.

Property Value Impact

There is a lot of talk among property owners about short-term rentals and their impact on real estate values. One of the most common questions is do short-term rentals increase the value of a particular residential property? Some homeowners feel it can add as much as 40% to the property value due to generating additional income.

Commercial and residential lenders, however, don’t agree. “A short-term rental has zero impact on value and should not be factored in when evaluating a property.”

Why? Regulations, they argue, can and often change overnight. Moreover they point out that permits are very different than a change in zoning which provides much greater certainty for future buyers of a property. Lenders conclusion: “Don’t buy into the hype that the income from a nightly rental will increase the value of the property.”

Quality Quotient: With 82% of Airbnb properties ranked at least 4.5, the online marketplace now publishes a Quality Score of every Denver short-term rental property.

Investor Influence

While lenders don’t see a benefit to short-term rentals professional real estate investors are far more optimistic. The financial benefit of an Airbnb property is clear to some investors: They can make more money from short-term rentals for the same reason vacationers typically spend more on lodging while traveling than they do on rent.

So how many professional real estate investors list properties on Airbnb? And how large are their businesses?

The best way to see whether there is a major trend of professional investors using Airbnb would be to see how many hosts rent out multiple properties on the site. In Denver at least numbers imply that 40% of listings are from multi-listing hosts indicative of probable professional investors. AirDNA, it should be pointed out, helps real estate investors make short-term rental property investment decisions. Thus the presence of professional investors has become controversial. The upshot is that Airbnb has become close-mouthed about disclosing information.