RedT Homes CEO Nathan Adams says projects like his at 2650 S. Delaware St. in Denver have been negatively affected by Xcel servicing delays. (BusinessDen illustration)
Ten named local development firms submitted letters of support this week when a homebuilder asked a state regulator to investigate Xcel Energy over servicing delays to new projects.
Nathan Adams, owner and CEO of RedT Homes, said in his complaint sent Monday to the Public Utilities Commission that “chronic inefficiencies and design revisions from Xcel” have delayed RedT projects and cost his firm millions.
“Colorado’s housing crisis cannot afford systemic inefficiencies from a regulated monopoly that plays a central role in project delivery,” he wrote.
BusinessDen reported in May that Adams planned to request an investigation and had solicited input from other developers in hopes of showing strength in numbers.
Executives at the 10 named firms that submitted letters of support included Keith Gallegos of Denver Construction Management, Turner Miller of Weins Development Group and Ilan Salzberg and John Cianci of SC&P LLC.
“I have experienced repeated, consistent and extended delays in demo quotes, demo/cutting of gas and electric lines, new utility designs, installation of new gas and electric lines, pedestals, transformers and permanent meters,” Shawn Bookout of Dublin Development wrote. “In addition there has been continued ignored emails and miscommunications that have negatively impacted our project schedules, financial projections and delivery timelines.”
Adams’ submission to the PUC also included two statements from unidentified developers, and an email in which an individual told Adams its attorney had “said they highly recommend against putting our name behind anything though as we currently have multiple active projects in Denver we are working with Xcel on.”
Adams said he escalated his issues “to the highest levels at Xcel” and recently met with several executives, but found “no willingness to address the damage their failures have caused.”
“Their only offer was to enter their internal dispute resolution process, a process they control, which forces us to wait 90 days for a decision, all while we continue to suffer active harm,” he wrote.
PUC spokeswoman Megan Castle said a consumer affairs team that receives and helps resolve complaints will review the one from RedT.
Minneapolis-based Xcel did not respond to a request for comment. In May, the company told BusinessDen: “We don’t comment publicly about the details of individual customer projects. However, it’s important to note we completed this customer’s projects while accommodating unique and changing designs, plans and timelines. Our team is committed to working with all our customers in order to complete projects safely and on time.”
RedT has gone on the offensive in several matters recently.
In early May, the firm sued Denver after the Denver City Council rejected the company’s requested rezoning for a site in Athmar Park. RedT, however, dropped that lawsuit within weeks. Adams said attorneys told him that, even if he prevailed in the case, a judge would likely just order the council to consider the matter again. He figures the council would then find some legal pretext to reject the rezoning.
Then, in late May, RedT sued Denver over the Expanding Housing Affordability measure passed in 2022, which requires residential developers to incorporate income-restricted units into their projects or pay a hefty “linkage fee.” The firm is being represented pro bono by the Pacific Legal Foundation, which argues the measure is unconstitutional.
RedT Homes CEO Nathan Adams says projects like his at 2650 S. Delaware St. in Denver have been negatively affected by Xcel servicing delays. (BusinessDen illustration)
Ten named local development firms submitted letters of support this week when a homebuilder asked a state regulator to investigate Xcel Energy over servicing delays to new projects.
Nathan Adams, owner and CEO of RedT Homes, said in his complaint sent Monday to the Public Utilities Commission that “chronic inefficiencies and design revisions from Xcel” have delayed RedT projects and cost his firm millions.
“Colorado’s housing crisis cannot afford systemic inefficiencies from a regulated monopoly that plays a central role in project delivery,” he wrote.
BusinessDen reported in May that Adams planned to request an investigation and had solicited input from other developers in hopes of showing strength in numbers.
Executives at the 10 named firms that submitted letters of support included Keith Gallegos of Denver Construction Management, Turner Miller of Weins Development Group and Ilan Salzberg and John Cianci of SC&P LLC.
“I have experienced repeated, consistent and extended delays in demo quotes, demo/cutting of gas and electric lines, new utility designs, installation of new gas and electric lines, pedestals, transformers and permanent meters,” Shawn Bookout of Dublin Development wrote. “In addition there has been continued ignored emails and miscommunications that have negatively impacted our project schedules, financial projections and delivery timelines.”
Adams’ submission to the PUC also included two statements from unidentified developers, and an email in which an individual told Adams its attorney had “said they highly recommend against putting our name behind anything though as we currently have multiple active projects in Denver we are working with Xcel on.”
Adams said he escalated his issues “to the highest levels at Xcel” and recently met with several executives, but found “no willingness to address the damage their failures have caused.”
“Their only offer was to enter their internal dispute resolution process, a process they control, which forces us to wait 90 days for a decision, all while we continue to suffer active harm,” he wrote.
PUC spokeswoman Megan Castle said a consumer affairs team that receives and helps resolve complaints will review the one from RedT.
Minneapolis-based Xcel did not respond to a request for comment. In May, the company told BusinessDen: “We don’t comment publicly about the details of individual customer projects. However, it’s important to note we completed this customer’s projects while accommodating unique and changing designs, plans and timelines. Our team is committed to working with all our customers in order to complete projects safely and on time.”
RedT has gone on the offensive in several matters recently.
In early May, the firm sued Denver after the Denver City Council rejected the company’s requested rezoning for a site in Athmar Park. RedT, however, dropped that lawsuit within weeks. Adams said attorneys told him that, even if he prevailed in the case, a judge would likely just order the council to consider the matter again. He figures the council would then find some legal pretext to reject the rezoning.
Then, in late May, RedT sued Denver over the Expanding Housing Affordability measure passed in 2022, which requires residential developers to incorporate income-restricted units into their projects or pay a hefty “linkage fee.” The firm is being represented pro bono by the Pacific Legal Foundation, which argues the measure is unconstitutional.
