7, 0 00 915,000
DENVER’S RESIDENTIAL UNITS DOWNTOWN PROJECTED GROWTH RATE
UNDER CONSTRUCTION
PLANNED
OR
COLORADO CONVENTION CENTER
in
5X
DOWNTOWN & CITY CENTER NEIGHBORHOODS % in DOWNTOWN’S $636,000,000 NATIONAL GROWTH RATE
ATTENDEES IN 2012
142 GROWTH
IN INVESTMENT
RESIDENTIAL POPULATION Since 2000
through
152 PARKS ACRES OF
3,200,000 FT RETAIL SPACE IN THE PAST YEAR DOWNTOWN DENVER
DOWNTOWN DENVER
{IN}
60% OF
DOWNTOWN EMPLOYEES
USE TRANSIT,
BIKE, WALK CARPOOL to work
OR
DON’T
of
–2013–
RESIDENTS OWN A CAR
PROJECTS COMPLETED
of
STATE
25%
2
DOWNTOWN DENVER
{IN}
OVER
ATTEND inCLASSES
RESIDENTS $
76,263
6/10 DOWNTOWN RESIDENTS AVERAGE INCOME have a
AND
DOWNTOWN DENVER 65, 9 74 STUDENTS CITY CENTER NEIGHBORHOODS
55,000
For
27.1 115,020 MILLION
EMPLOYEES DOWNTOWN BACHELOR'S DEGREE SQUARE FEET in
OR HIGHER DENVER DOWNTOWN DENVER OFFICE SPACE [OF]
HOUSEHOLDS
The The
STATE
of of
DOWNTOWN DENVER TABLE OF CONTENTS Introduction Letter.................................................. 1 Notable Rankings................................................... 3 Downtown Area Plan............................................. 4 Development & Investment............................ 6–7 Office Market.................................................... 8 –9 Employers & Employees................................ 10–11 Residents......................................................... 12–13 Retail & Restaurants..................................... 14–15 Students & Universities............................... 16–17 Transportation............................................... 18–19 Environment......................................................... 20 Tourism ................................................................. 22 Culture, Entertainment, Sports, & Events....... 2 3 Board of Directors .............................................. 25
Dear Downtown Denver Stakeholder, The Downtown Denver Partnership is pleased to publish the third annual State of Downtown Denver, a fact-driven report that provides timely, objective and accurate data about Downtown Denver. We are proud to continue our partnership with Newmark Grubb Knight Frank and deliver the most complete statistics and analysis about Downtown Denver. After just a few minutes reviewing the information in this report, it quickly becomes clear that Downtown Denver is the hub of the Rocky Mountain region and that our hub is growing. Downtown Denver is an office for over 115,000 employees with 675,000 square feet of office space currently under construction. Downtown Denver is home to 17,500 residents, a 142% increase since 2000. Downtown Denver is a classroom to over 55,000 students where at least $254 million has been invested to enhance the educational environment. All in all, there are currently 26 projects under construction, representing approximately $1.8 billion in investment from both the public and private sectors. Turn the page and read the facts, figures and case studies in this report that showcase the current state of Downtown Denver. And when you are ready to make an investment in Downtown Denver, we invite you to reach out to us at www.downtowndenver.com.
Sincerely,
Tamara Door
Elbra Wedgeworth
President & CEO
Chairwoman
Downtown Denver Partnership
Downtown Denver Partnership
{1}
{2}
NOTABLE RANKINGS BEST
2ND
2ND
CITY FOR SMALL BUSINESS EMPLOYEES.
FASTEST GROWING LARGE CITY IN THE U.S.
SAFEST FEELING METRO AREA TO WALK THE STREETS.
(CardHub, 2013)
(U.S. Census Bureau, 2013)
(Gallup, 2013)
3RD
3RD
3RD
MOST ACTIVE RESIDENTS.
BEST CITY FOR SMALL BUSINESSES.
BEST CITY IN THE WORLD FOR OIL & GAS CAREERS.
(Travel + Leisure, 2012)
(Business Journals, 2013)
(Rigzone, 2013)
3RD
4TH
5TH
BEST CITY FOR RECENT COLLEGE GRADS.
BEST CITY FOR JOB SEEKERS.
MOST LITERATE CITY.
(Nerdwallet, 2013)
(Forbes, 2013)
(Central Connecticut State University, 2013)
5TH
6TH
6TH
HEALTHIEST METRO AREA.
BEST CITY FOR TECH STARTUPS.
BEST CITY IN AMERICA.
(American College of Sports Medicine, 2013)
(Entrepreneur Magazine, 2013)
(Businessweek.com, 2013)
6TH
6TH
8TH
LEAST OBESE CITY IN THE U.S.
BEST CITY FOR CLEAN TECHNOLOGY.
BEST LARGE CITY FOR YOUNG ENTREPRENEURS.
(Gallup, 2013)
(CleanEdge, 2013)
(Under30CEO, 2013)
8TH
9TH
9TH
BEST CITY FOR ACCOUNTING JOBS.
BEST CITY FOR FEMALE ENTREPRENEURS.
BEST CITY FOR ACCESS TO JOBS VIA PUBLIC TRANSPORTATION.
(LedgerLink, 2013)
(Forbes, 2012)
(Brookings, 2013)
TOP 5
TOP 10
TOP 15
BEST CITIES FOR YOUNG ADULTS.
CITIES FOR URBAN FORESTS.
EMERGING DOWNTOWNS.
(Kiplinger’s, 2013)
(American Forests, 2013)
(Forbes, 2013) {3}
I EL
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34
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STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
TH
37
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PH OL ND RA CE RU EB
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Auraria, Auraria, Lower Downtown (LoDo), Commercial Core, Cultural Core, Golden W
L VA
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Triangle, Arapahoe Square and Ballpark. H
W
9T
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PL RY ER RB BA
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City Center Neighborhood Boundaries W
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Central Platte Valley Prospect, Central Platte Valley Commons, Central Platte Valley E AV
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7T
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TH 11
S DT L BO
comprised of the following planning districts set forth by the 2007 Downtown Area Plan: W
E AV
The City Center area includes Downtown Denver and its surrounding residential neighborhoods. Its boundaries extend beyond the Downtown Denver boundary to include the following neighborhoods: Highland, Ballpark, Curtis Park, Five Points, Uptown, Capitol Hill, La Alma/Lincoln Park and Jefferson Park.
G
ST
O
ST
ST
12
W
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The map above illustrates the boundaries of Downtown Denver. Downtown Denver is TH
W
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10
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13
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WELTO N S T
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IS ST CURT
WA LNUT ST
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GLENARM P L
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WELTO N S T
CALIFO RN IA
CALIFO RN IA ST
STO UT ST
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IMER
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CRESCENT DR
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CL
MS LIA
ST
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E
HU ER EM
CALIFORNI A ST
STO UT ST CURTIS ST
ARAPAHO E ST
LAWRENC E ST
MARKET S T
LARIMER S T
BLAKE ST
WAZEE ST
WYNKO O P ST
WEWATTA ST
DELGANY S T
RIV ER
ST
SO U T H P LAT T E
WAT ER
25 T ST OT ALC
ST SO
N
CHESTNUT PL
CURTIS S T
PLATTE S T
DENVER UNION STATION
CENTRAL ST
ST LA IL AT UM
BASSETT S T
SO UTH PL ATTE RIVER GRE ENWAY
ST
BOULD ER
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O J VA NA
25TH ST
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A OS RIP MA
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AN LIP
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26TH ST
ST
CHAMPA S T
ST LARIME R
BLAKE ST
T KE R MA O
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27TH ST
27TH ST
N SO JA
WALNUT ST
28TH ST
TT CO AL
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29TH ST
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{4}
EER
ST
ST
• Sustainable Use of Resources
TH 10
H
E SP
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A
• A Rejuvenated Civic Center
ON GT
11
OS
• An Outdoor Downtown
W
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IP
Green
HIN
EE
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DR
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KA
TH
W
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R MA
Arapahoe Square
TH
13
GOLDEN TRIANGLE
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ST CK ER
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Downtown Denver Boundaries
W
• Downtown’s New Neighborhood:
TH 11
CH
14
AN LIP
• Connecting Auraria
W
CT
• District Evolution
S WA
13
L
RIO
Distinctive
E E AV
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O NN BA
W
ST
• An International Downtown
ST
ST
TH
VE XA LFA CO
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Neighborhoods
W
TRAI
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W
E AV
W
E AV
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• Embracing Adjacent
20
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ST
TH
T
7TH
H 2T E1
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SA
5TH
T
• A Family-Friendly Place
XS FO
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TH
W
ST
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TS
• Downtown Living
I AT
CHER
E AV
N YA BR
Diverse
AURARIA
EL
RD 23
ST
ST
W
9TH
GO PA
CENTRAL PLATTE VALLEY AURARIA
STATE CAPITOL
R WA LA
W
ST
PL
TH
14
ST
7TH
N
RO BY
LA
• Grand Boulevards
E AV
E
RTD CIVIC CENTER STATION
CULTURAL CORE
13TH ST
GA
• Park the Car Once
26
DENVER PERFORMIN ARTS COM G PLEX COLORADO CONVENTIO N CENTER
L CO
DE
TH
W
14TH ST
12T H ST
PEPSI CENTER
R
E
E AV
N
27
CI
TH
16
L CO
W
E AV
14TH S T
12TH ST
CH ELIT
• Bicycle City
TH
15TH ST
LIN
• Building on Transit
BLVD N SPEER
T
K TRAIL
SPEER BLV D
E AV
VE XA FA
W
AY DW OA BR
29
CHERRY CREE
16TH ST MALL
TS
TH
W
28
E AV
ST
W
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TH
17
N MA
Environment
TH
L W DUNKELD P
E AV
E
E
ER
W
PL SS NE ITH CA
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SH
W
COMMERCIAL CORE
15TH ST
• An Outstanding Pedestrian
H 8T E1
IA
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PL LE GY AR
E AV
AN
31
W
17TH ST
TH
19
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GR
ST
E AV
33
18TH ST
LODO
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AN LV SY
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32
H 0T E2 19TH ST
ST
RD
W
17TH ST
18TH ST
ST
ND
W
CENTRAL PLATTE VALLEY COMMONS
N GA LO
W
TH
35
E AV
20TH ST
19TH ST
EN AV ER TL LIT
• Clean and Safe
Walkable
19TH ST
18TH ST
H 7T E1
NN
3
ARAPAHOE SQUARE
COORS FIELD
PE
E AV
E AV
ST
22ND ST
AY DW
W
H 6T
TH
18
PIN
BALLPARK
OA BR
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TH 29
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OL MB
W
H 9T E1
HU
ST
37
E AV
GIL
ST
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TH
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TH
20
PARK AVE
E AV
21ST ST
• A Comprehensive Retail Strategy
E
ST
E AV
IN
• Energizing the Commercial Core
E AV
IN
TH 34
T
W
TH
24
L NK
35
E AV
24TH ST
N RO HU
Mountain Region
TH 36
E AV
A FR
TH
W
W
ST
3
TH
25
E
ON GT HIN
W
CENTRAL PLATTE VALLEY PROSPECT
E AV
XS FO
• The Downtown of the Rocky
E AV
H 7T
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S WA
Prosperous
29TH ST
strategies guiding Downtown Denver are:
CE RA
BO M
BRIGHTO N BLVD
30TH ST
Denver one of the most livable places in the world. The vision elements and accompanying W 29TH ST
ST
T TS LD
RIO MA
AR KIN SC T
31ST ST
WESTO N ST
ST
31ST ST
Denver. The Downtown Area Plan outlines the major components to make Downtown
E AV
ST
32ND ST
TH
26
E2 3R D
LA
T YE FA
E
D OR YL GA
32ND ST
31ST ST
TE
33RD ST
Area Plan with an updated vision and set of goals and recommendations for Downtown
GIL
ST
In 2007, the public and private sectors came together to build upon the 1986 Downtown
MS LIA
ST
ST
VIN
E
ST
H 7T E2
E
10
E AV
{5}
STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
DEVELOPMENT AND INVESTMENT Downtown Denver is buzzing with construction activity. Between July 2012 and July 2013, 10 projects were completed, representing over $636,000,000 of investment and over 2.2 million square feet of additional or re-purposed space in Downtown Denver. Currently, there are 26 projects under construction. Fifteen of these projects have a residential
636,000,000
$
component; when completed, Downtown Denver will have over 2,800 additional units for residents. In addition to projects completed in the past year and those currently under construction, many more projects are being planned in Downtown Denver. The following map shows projects completed since 2007, as well as projects under construction and planned for development.
{6}
IN THE PAST YEAR
I W ST
N SO
CALIFORNIA ST
ON I AR M
E AV
T E
18
IN KL ST
ST
IN
N
N
25TH ST
OG
ST
DE
N
ST
ON GT N HI
DO W
AS W
G
B
AR
M
AR
DE
26TH ST
The number of housing units currently under construction is just under the total number of housing units completed since 2007.
D
TH 19
N
STOUT ST
KE
GO
ST
E A FR
GO AR
ST ST IN KL N A FR
ST
CHAMPA ST
ER EM
T
16 of the 55 projects completed since 2007 are located in the Commercial Core.
EN
IN LP GI
GLENARM PL
LAWRENCE ST
LARIMER ST
WALNUT ST
CURTIS ST
BRIGHTON BLVD
E RD
BLAKE ST
27TH ST
ILL
E AV
TH
24
Downtown Denver Development Since 2007
28TH ST EV
25
E
27TH ST
WESTON ST
29TH ST
O GL
29TH ST
AR KIN S
CT
30TH ST
W 29TH ST
E AV
TH
E
Half of the 26 projects currently under construction are in the vicinity of Denver Union Station. 24TH ST
HU
AV
E
E
WELTON ST
GLENARM PL
TREMONT PL
AV E TH 16
AV E
E
ARAPAHOE ST
H 18 T E
AV E LF AX
GLENARM PL
TREMONT PL
STOUT ST
CLEVELAND PL
CO
CHAMPA ST
WELTON ST
CURTIS ST
CALIFORNIA ST
LAWRENCE ST
COURT PL
ER S LARIM
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T 11
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A
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13
O AC
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ST
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W
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TH
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TH 12
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Map is not inclusive of all proposed developments. W
E AV
10
E ForH AVadditional information, please visit 9T W www.downtowndenver.com.
13 TH
ON
I AT
N PA
LL
LI
A
ST
W
H OS
AD IU
SH
W
AV E
E
ST
TH
ST
UM
Source: Downtown Denver Partnership ST
T
O AJ AV N
PL TH 12
6T
E AV
ST
S MA YU
T
{7} TH W8 ST
IS
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W
H
W
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AT I
• Completed development • Development under construction • Planned development
AR
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AP AG O
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11
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TH
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TA
7TH
N SA
T ST
ST
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LARIMER ST
MARKET ST
BLAKE ST
WAZEE ST
WYNKOOP ST
WEWATTA ST
DELGANY ST
LE
LA W AR
LI
5TH
H W AL K
W
AV E 9T H CHESTNUT PL
BASSETT ST
ST
ST
WAT ER
LN
CO
DE
W
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CULTURAL CORE
L GA
T
CENTRAL PLATTE VALLEY AURARIA
LI
ST
13TH ST
COLORADO CONVENTION CENTER
CA
SOUTH PLATTE RIVER GREENWAY
DENVER UNION STATION
ST
EL I
ST
ST
12TH ST
9TH
ST
T
72 DENVER PERFORMING ARTS COMPLEX
C IR
13
STATE CAPITOL
AY DW OA BR
14TH ST
14TH ST
CH
ST
ST
AN
E
15TH ST
PEPSI CENTER
N SO ER
L
AR
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TH
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12TH
E AV
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AN
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64
TH
E
ER
ST
17TH ST
SPEER BLVD
ST
SH
L TT
COMMERCIAL CORE
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CHERRY CREEK TRAIL
17
PE
18TH ST
LODO
15TH ST
AN
E AV
EM
19
19TH ST
TH
E
ST
LO
ST
LI RA VE N
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E AV
ST
47
ON KS
E AV
IA AN LV SY N N
18TH ST
CENTRAL PLATTE VALLEY COMMONS
TH 20
TH
19TH ST
E
E
PE
20TH ST
G
19TH S T
ST
N DE
21ST ST
G
OG
2
ON GT N HI AS W
W
60
COORS FIELD
IN
AR CL
ST
BALLPARK
AY DW OA BR
CA
WEWATTA ST
ST
IN
ST
N
N
FO X
RO
CURTIS ST
22ND ST
HU
DO W
ST
ST
ARAPAHOE SQUARE
TH
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X FO
CENTRAL PLATTE VALLEY PROSPECT
CALIFORNIA ST
PARK AVE
17
V AVE
IAD
SEM
INOL
E RD
E AV
STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
OFFICE MARKET Downtown Denver has a total of 27.1 million square feet of office space. Office vacancy fell sharply from a high of 18.3% at the end of 2009 to 13.8% by mid-2013, compared to a 17.0% vacancy rate in Denver’s suburban office market and to higher vacancy rates in other U.S. downtowns. With vacancy rates dropping, the market is responding not only with increasing lease rates of $26.50/sf from $24.35 in 2012, but also by constructing additional office space. A total of 675,000 square feet of office space is currently under construction throughout Downtown Denver, with approximately 1.2 million square feet of office space planned to be developed in the next several years.
Office Inventory Under Construction & Planned for Development Project Name
Status
Square Feet
Projected Completion Date
1601 Wewatta
Under Construction
283,000
2015
16M
Under Construction
130,000
2014
Denver Art Museum Office Building
Under Construction
50,000
2014
IMA Financial Center
Under Construction
102,000
2013
One Union Station
Under Construction
110,000
2014
16 Chestnut
Planned
320,000
2014
16th & Wewatta
Planned
65,000
2014
Triangle Building
Planned
220,000
2014
17 Wewatta
Planned
60,000
2015
Historic Windsor Dairy Block
Planned
325,000
2015
Wewatta Plaza
Planned
200,000
TBD
Major Office Building Sales Since July 2012 Square Feet
Price Per Square Foot
Sale Date
1001 17th Street
$217
655,000
$331
Fall 2013*
1660 Lincoln
$38
283,544
$134
July 2013
1700 Broadway
$98
394,151
$249
May 2013
1999 Broadway
$183
680,277
$269
May 2013
1625/1675 Broadway
$176
770,221
$229
April 2013
1331 17th Street
$70
218,906
$320
April 2013
Building Address
* As of print date, sale expected to close Fall 2013. List includes sales of properties over 200,000 square feet.
{8}
INVESTORS
CONTINUE
DRAWN
TO BE
Approx. Sales Price (in millions)
To
DOWNTOWN
DENVER
Sources: Denver Business Journal, Denver Post, Newmark Grubb Knight Frank Research, Downtown Denver Partnership, Denver Infill
Downtown Office Market Balance Percentage
1,500,000
19.0%
1,000,000
17.0%
500,000
15.0%
0
13.0%
-500,000
11.0%
YEAR-TO-DATE
ABSORPTION In 2013
175,000
WAS
Square Feet
SQUARE FEET
9.0%
-1,000,000 2004 Supply
2005
Absorption
2006
2007
Vacancy
2008
2009
2010
2011
2012
2Q13
Source: Newmark Grubb Knight Frank Research
SPOTLIGHT: Downtown Denver’s Oldest and Newest Neighborhood Denver Union Station is again a hub of commercial activity in
new buildings. However, from 4Q08 to 2Q13, these new buildings
Downtown Denver, spurring significant office development in the
drove absorption totaling almost 900,000 square feet.
Lower Downtown, or LoDo, neighborhood. When it first opened
LoDo’s current inventory has swelled to 3.9 million square feet,
in 1881, Denver Union Station provided a rail hub for Denver,
and vacancy stands at 8.3%, the lowest of any Denver submarket
supporting the thriving frontier town in the relatively new state
or micromarket. LoDo’s Class A rental rates have risen to
of Colorado.
$34.00/sf—the highest in the Denver market. As elements of the
However, by the mid-twentieth century, the declining popularity
new Union Station begin to open in 2014 and surrounding office
of rail travel reduced Denver Union Station to a relic, leaving
developments are completed, Denver’s oldest neighborhood is
LoDo full of dilapidated commercial buildings. By the late 1980s,
again entering a new phase.
pioneer businesses such as the Wynkoop Brewery opened and old warehouses were converted to hallmark LoDo ‘brick and timber’ office buildings. The opening of Coors Field in 1995 drew thousands to the neighborhood’s growing retail amenities. Prior to 2008, LoDo’s 2.7 million square feet of office space was home to mostly creative firms drawn to the neighborhood’s nontraditional space. LoDo enjoyed low vacancy of around 6% from 2005 to 2007. By 4Q09, vacancy climbed to 26.4% due mainly to the delivery of over 1.1 million square feet of partially occupied
{9}
STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
EMPLOYERS & EMPLOYEES Downtown Denver serves as the Rocky Mountain region’s
Number of Employees in Downtown Denver*
employment hub, with 115,020 employees in 2012—2.4% more
116,000
employees than in 2011. The largest industries in Downtown
114,000
Denver are Professional and Business Services (31%),
112,000
Government (20%), Leisure and Hospitality (15%) and Financial
110,000
Activities (12%)*.
108,000
Since September 2012, many companies have decided to
104,000
106,000
relocate or expand into Downtown Denver. Canada Goose chose Denver for their U.S. headquarters and Newalta Corp. announced that they will open their first Colorado office in Downtown Denver. In addition, other companies that made
2009
2010
2011
2012
*Numbers reflect fourth quarter covered employment (Jobs covered by unemployment insurance as reported in the QCEW. These positions represent the vast majority of total employment, although the selfemployed, some agricultural workers, some domestic workers, and several other categories of workers are excluded).
the decision to locate in Downtown Denver in the past year include: McGraw Hill, PIXIA, OnDeck Capital, SwiftPage, Seven Step RPO, Halcón Resources Corporation and Resource Land Holdings.
SPOTLIGHT: Competitive Startups Are Focusing on Downtown Denver Downtown Denver is a hub of high quality resources for
DENVER
IS UP
DOWNTOWN
IN THE PAST YEAR
AND UP
2.4% 5%
EMPLOYMENT IN
SINCE 2010
innovators, budding entrepreneurs and startup companies through great facilities like Galvanize and support from academic institutions. Additionally, Downtown Denver’s urban environment is attractive to prospective startup employees looking to work and live in a vibrant, highly educated and accessible location. The energy and support
Supply
Characteristics of Downtown Denver workers: Age • 20% are 29 or younger • 61% are between 30 and 54
and Built in Denver are intensifying the entrepreneurial community’s interest in Downtown Denver with multiple startups moving their offices to Downtown Denver in the last year.
• 19% are 55 or older Gender • 53% Male • 47% Female Race/Ethnicity • 74%—White (not Hispanic or Latino) • 14%—Hispanic or Latino • 6%—Black or African American • 3%—Asian • 3%—Other or more than one race
{10}
Source: Newmark Knight Frank Frederick Ross
from events and organizations like Denver Startup Week
Sources: U.S. Census, Longitudinal Employment Household Dynamics, Quarterly Census of Employment and Wages, Denver Post, Denver Business Journal, Metro Denver Economic Development Corporation, Rigzone
Downtown Denver’s Role in the Metro Region Downtown
Sample jobs in Downtown Denver’s largest industry: • Attorney • Marketing Professional • Researcher • Private Investigator • Software Developer • Graphic Designer
Denver was ranked the third best city in the world for oil and gas jobs, according to Rigzone, a leading industry publication.
While the Education and Health Services industry only accounts for 2% of Downtown Denver’s jobs, it was the fastest growing industry in 2012.
Metro Denver
31%
PROFESSIONAL & BUSINESS SERVICES
18%
20%
GOVERNMENT
15%
15%
LEISURE & HOSPITALITY
11%
12%
FINANCIAL ACTIVITIES
7%
7%
NATURAL RESOURCES & CONSTRUCTION
5%
4%
INFORMATION
4%
3%
WHOLESALE & RETAIL TRADE
15%
2%
OTHER SERVICES
4%
2%
EDUCATION & HEALTH SERVICES
12%
1
%
TRANSPORTATION, WAREHOUSING & UTILITIES
3%
1%
MANUFACTURING
6% {11}
STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
RESIDENTS New residents are moving to Downtown Denver and its surrounding neighborhoods in record numbers. Downtown Denver’s residential population is projected to grow by almost 18% in the next five years and Downtown’s City Center neighborhoods are projected to grow by 12%. Recent Census data shows that the City of Denver grew by 5% between 2010 and 2012, making it the second-fastest-growing large city (population over 500,000) in the U.S. Downtown Denver’s residential real estate market reflects this strong population growth. As of August 2013, over 7,000 residential units are under construction or planned in Downtown Denver and City Center neighborhoods, apartment vacancy rates are near record lows and the residential real estate market is surging.
Downtown Denver Rental Rates
Downtown Denver Historical Apartment Vacancy Rate
1,256 1,405 $
$
25 20 15 10 5
AVERAGE RENT
0
For
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012*
*Q4 vacancy rate not included due to incomplete data
Amenities Elevate Downtown Denver’s Quality of Life Residents who live in and around Downtown Denver enjoy
AVERAGE RENT For
STUDIO
ONE-BEDROOM
APARTMENT
APARTMENT
Walk, Bike and Transit Scores of Downtown Neighborhoods
a high quality of life. Downtown and City Center Neighborhoods
Average Walk Score
Average Transit Score
Average Bike Score
Downtown Neighborhoods
87
82
88
City Center Neighborhoods
83
67
91
are easy to get around on foot or by bike and have the best access to public transportation in the entire Denver metro region. The neighborhoods in and around Downtown Denver have the highest walk, bike and transit scores in the City of Denver. In the past year, two new amenities were announced that will further enhance the quality of life for Downtown Denver residents. Students in grades K-5 will be able to attend the Downtown Expeditionary School beginning in the 2013/2014 school year. A new King Soopers will open in the 20th and Chestnut project near Denver Union Station in late 2014, providing Downtown residents and commuters a full-service grocery store in a convenient location.
{12}
Scores out of 100, with 100 being the best
Resident Demographics Downtown
City Center Neighborhoods
2013 Estimated Residential Population
17,528
65,974
Est. Growth 2013-2018
17.7%
12.0%
Households
11,137
39,411
1.4
1.6
141.7%
24.8%
White (not Hispanic or Latino)
76.2%
60.3%
Hispanic or Latino
8.3%
18.4%
Black or African American
5.3%
7.4%
Asian
4.4%
2.6%
Other or more than one race
5.8%
11.3%
33.9
33.4
Male
56.9%
55.3%
Female
43.1%
44.7%
58.5%
50.8%
Size and Growth
2013 Est. Ave. Household Size Growth 2000-2013
Race/Ethnicity
Age 2013 Est. Median Age
Gender
Education/Income Percent of Population with Bachelor’s Degree or higher
• Downtown Denver’s projected growth rate is five times the
2013 Est. Average Household Income
$76,263
2013 Est. Median All OwnerOccupied Housing Value
$361,029
$60,283
of Denver. $278,660
• Denver’s City Center neighborhood residents have a similar racial and ethnic breakdown to Colorado and the U.S.
Presence of Vehicles 2013 Est. Households No Vehicles
national rate and almost twice that of the City and County
• Downtown Denver residents are highly-educated, with almost 25.2%
24.3%
6 in 10 having a Bachelor’s degree or higher, compared to 3 in 10 nationally.
Sources: Claritas, www.walkscore.com, U.S. Census, Downtown Denver Partnership, Denver Metro Apartment Vacancy and Rent Survey
{13}
STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
RETAIL & RESTAURANTS Downtown Sales Tax Collected—Annual Totals $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000
• Over 1,000 retail establishments are located in Downtown
$5,000,000
Denver, providing ample options for eating, entertainment,
$-
shopping and more.
2006
• In 2012, Downtown Denver retail establishments collected
2007
2008
2009
2010
2011
2012
$37,487,637 in sales tax for the City of Denver, representing 7.6% of the City of Denver’s total sales tax revenue.
2012 Downtown Sales Tax Collections by Month
• The 16th Street Mall accounted for 32% of total sales tax
$4,500,000
collected in Downtown Denver and remains the most popular
$4,000,000
attraction for Metro Denver visitors.
$3,500,000
• Downtown Denver has 3.2 million square feet of retail space
$3,000,000
with a 4.4% vacancy rate.
$2,500,000 $2,000,000
• The median asking rate for retail leases is $23.75 NNN per
$1,500,000
square foot.
$1,000,000
• Over 50 retailers and restaurants have opened since
$500,000
July 2012, including: Hapa Sushi, John Fluevog Shoes,
DEC
NOV
OCT
SEPT
AUG
JULY
JUNE
MAY
APRIL
MARCH
JAN
ViewHouse Eatery & Bar, Gather, Tom’s Urban 24, Eperney,
FEB
$0
Larkburger, Hailee Grace, Novo Coffee, Pizza Republica, and Southern Hospitality.
Downtown Denver’s Share of the City of Denver’s Annual Sales Tax Collections 8.0% 7.5% 7.0% 6.5% 6.0% 5.5% 5.0%
{14}
2005
2006
2007
2008
Sources: Downtown Denver Partnership, City of Denver, Visit Denver, Newmark Grubb Knight Frank, CoStar
2009
2010
2011
2012
CONFLUENCE PARK
COMMONS PARK
BASSETT ST
BLAKE ST
ST N RO
ST FO X
O
18 T
H
AV E
ST
IN
H AS W
ST
E
E AV
Miscellaneous Stores 6%
Information Producers/ Distributors 5%
Motor Vehicles and Auto Parts 4%
Other Categories (less than 3% each)
{15}
Tr im
Restaurants 48%
A GR
ON GT
D
E AV
Hotel and Other Accommodation Services 16%
NT
ST
AV E
TH
RM
E
SH
H
19
DE
ST
ER SO N
E
AN
CLEVELAND PL
Clothing/Accessory Stores 8%
25TH ST
TREMONT PL
COURT PL
CIVICManufacturing 6% RTD CIVIC CENTER CENTER STATION PARK
24TH ST
PARK AVE
www.DowntownDenver.com.
T 20
LA W AR
PL visit GLENARM throughout Downtown Denver,
E
ST
B TREMONT PL
information about pedestrian traffic
RTD LIGHT RAIL
AY W D A RO
E
TH
13
2012 Sales Tax Collections by Industry
HU
ST CALIFORNIA of 44,924 pedestrians per block to a low
of 400 pedestrians per block. ST For more WELTON
GLENARM PL
35,046
22ND ST
17TH ST
20TH ST
Downtown Denver ranges from a high CALIFORNIA ST
EM
ST FO X
EEK
E AV
RY C R
Pedestrian traffic on an average day in
STOUT ST
38,977
AX LF
W
CHER
DENVER PAVILIONS
CO
TRAI
W
L
LA AN SDowntown Denver GA on an average day.
E
CHAMPA ST
ST
O
ST
Downtown Denver.
WELTON ST
F G Stout block in PA TA Street is the busiest
TI LA
middle of the day, unlike the rest of
PARK AVE
3,912
traffic in the evening than during the
CURTIS ST
44,924 9,147 6,245 36,029
16th Street between California and ST DR E
THTH ST 1616 MALL STMALL
34,247
LAWRENCE ST SKYLINE PARK ARAPAHOE ST
Larimer Square has more pedestrian
N
KA
CA
LARIMER ST
19TH ST
6,686 30,805 5,449
MARKET ST
21ST ST
MARKET STREET STATION
and 19th Street.
3,026
GA
R BL VD
M LA
Y ST
FIELD between 18th Street Blake Street
L
ST
COLORADO CONVENTION CENTER
SPEE
N
PA
LI
ST
DELGA N
traffic increases five-fold on
18TH ST
18,997
RTD LIGHT RAIL
H AT
AV E
COORS
15TH ST
DENVER PERFORMING ARTS COMPLEX
14TH ST
13TH ST
40,000+
TH
During a Rockies game, pedestrian
WAZEE ST
LARIMER WRITER SQUARE SQUARE
30,000-39,999
IN
DENVER UNION STATION
WYNKOOP ST
18,502
20,000-29,999
19TH ST
18TH ST
CHERRY CREEK TRAIL
10,000-19,999
29
WEWATTA ST
T WEWATTA S
0-9,999
CHESTNUT PL
W
Downtown Pedestrian Count Highlights
Average Daily AVERAGE DAILY Traffic: Pedestrian PEDESTRIAN TRAFFIC
UNION GATEWAY BRIDGE
LIGHT RAIL PLAZA
SPEER BLVD
EL I
H CIR TC
ST
2 WAY UNTIL WAZEE
CENTENNIAL GARDENS
STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
STUDENTS & UNIVERSITIES Over 42,000 students attend public not-for-profit institutions of higher education in Downtown Denver. In addition, over 13,000 students attend various trade and private for-profit institutions that have classroom space in Downtown Denver.
Schools in Downtown Denver Institution
Fall 2012 Enrollment
Metropolitan State University
21,520
University of Colorado Denver
13,102
Community College of Denver
7,443
Colorado State Executive MBA
32
Program TOTAL
42,097
LOOKING AHEAD: Enhancing Connections to Auraria The Auraria Higher Education Center, home to the University of Colorado Denver, Metropolitan State University of Denver and the Community College of Denver, had been historically disconnected from the rest of Downtown Denver. The 2007 Downtown Area Plan called for fully integrating the campus and Downtown Denver core through improvements to physical, social, economic and programmatic connections. In 2013, the Connecting Auraria study kicked off its examination of how to improve the existing connections between Auraria and the campus’s surrounding neighborhoods, such as the Commercial Core, LoDo, Golden Triangle and La Alma/Lincoln Park. In addition to the Connecting Auraria study, recent incremental improvements have already been implemented, such as the addition of a campus bike lane on Curtis Street and planters and banners along Larimer Street, improving the pedestrian environment along one of Auraria’s most traveled pedestrian access points.
{16}
Sources: Auraria Higher Education Center, Denver Post, DenverInfill, Metro State University Denver, University of Colorado Denver, Community College of Denver, Colorado State University
25TH ST
OG
ST
N DE
ON GT
ST
C
DO W
N HI AS W
JA
24TH ST
TREMONT PL
GLENARM PL
ST
22ND ST
HU
WELTON ST
X FO
A Year of Investment at Auraria Campus
CALIFORNIA ST
PARK AVE
WEWATTA ST
CURTIS ST
RO N $254,000,000 has been invested in new buildings at the Auraria Campus in the last year. All projects were funded through revenue, ST 60
9T H
DR
AV E
I
2
HI
PE
47
IA AN LV SY N N
H 0T
AS W
institutions located in other areas of Downtown Denver have added or enhanced their academic facilities over the past year. For example, E AV
E
AV E 18 TH E TREMONT PL
GLENARM PL
CLEVELAND PL
COURT PL
AURARIA PARK
T ST
CURT
WAL NU
IS ST
H AT
M
AT I
ST
AP AG O
ST
N PA
ST
ST
A
OS
IP
ST
AR
M
E AG
ST
O
RI CT
13 W
OS SH
LA
ST IL AT
UM
ST
O AJ AV
N
PL
TH
12
W
T
S MA YU
TH W8
ST
AV E
ST
H
BRYA N T ST
T 11
LE JO
W
V AVE
IAD
SEM
INOL
E RD
{17}
VA LL
R
AT U
ST
T
IS
N
ZU
• 917 space, four-story parking structure with 15,000 square feet of ground floor retail space
7T
E AV
LA
H
W
• $20,000,000 project
EJ O
CIR
H IG
• Under construction; scheduled to be completed in 2014
ST
M
LE
• Project is adding bike connectivity between 13th Ave and the Auraria Campus
KA
CO
AHEC 5th Street Parking Garage
VA L
HIG MILE
TH
HO
AV E
E N
ST AD IU
T HS
• Subsequent phases will include E AV H 9T baseball, softball and soccer fields W ST
AX LF
W
E AV
E AV
10
N PA
I
TH
W
LI
• Administrative and support services for MSU Denver students H W AL K
EL GA L
LI
OS
AY
ST
CL
AV E
DR
W
E AV
• Under construction, Phase 1 completed in August 2013
ST
TH
WELTON ST
CALIFORNIA ST
ER S LARIM
WAY
CHOP
CRESCENT DR
E
OK
ER
CH
FE
TH
11
Metropolitan State University of Denver Athletic Fields
T
20
K OC
E AV
14
TA
L
W
N YA BR
W
N
13
TRAIL
• $17,000,000 project
• First building in MSU Denver’s neighborhood
W
AV
N
ST
ST
TH 12
BA
E AV
LA
CO
X FA
TH
E AV
ST
• $62,000,000 project
M
CREEK
TH
N
ST
• Completed March 2012
• 145,000 square feet
ST
SA
7TH
W 5TH
E
I AT
CHERRY
E AV
Metropolitan State University of Denver Student Success Building
FO X
KA
2
STOUT ST
T
PER C IR
E CL
E
EL
PL
LA W AR
ST
N
DE
O AG AP
RO
ST
L GA
T
W
CHAMPA ST
CURTIS ST
DENVER UNION STATION WEWATTA ST
DELGANY ST
ARAPAHOE ST
LAWRENCE ST
LARIMER ST
MARKET ST
BLAKE ST
WAZEE ST
BASSETT ST
ST
WAT ER
EL I
ST
ST
ST
12TH
13TH ST
COLORADO CONVENTION CENTER
12TH ST
9TH
D 3R
• Critical part of creating 72 CCD’s neighborhood on Auraria Campus
DENVER PERFORMING ARTS COMPLEX
• First hotel on the Auraria Campus, providing a much needed amenity PEPSI for visiting students,CHfamily andCENTER C IR adjacent neighborhoods
LN
14TH ST larger lecture room
14TH ST
• Hotel and learning laboratories for hospitality students at MSU Denver
7TH
• Administrative and support services for CCD students
• Will house support services and
SPEER BLVD
STATE CAPITOL CO
• 162,000 square feet and 150 room hotel CHERRY CREEK TRAIL
• 87,000 square feet
N
• 146,000 square feet 15TH ST
15TH ST
16TH ST MALL
LI
• $45,000,000 project
64
• $50,000,000 project
AY DW OA BR
• $60,000,000 project
• Completed May 2013
TE JO N
PLATTE ST
ST
17TH ST • Under construction, scheduled for completion in August 2014
Community College of Denver Confluence
ST
CENTRAL ST
18TH ST
AN M ER
University of Colorado Denver Academic Building One
• Completed August 2012 25
ST
ST
L TT
RA VE N
19TH ST
E
E AV
T
LI
E
18TH ST
AN
SH
Spring Hill Suites Denver Downtown and Metropolitan State University Hotel and Hospitality Learning Center
WYNKOOP ST
19TH ST
19
TH
17
AN GR
SOUTH PLATTE RIVER GREENWAY
19TH S T
E
O
ST
TH
of 2012, creating a consolidated space that can accommodate over 5,000 students daily.
A
G
CHESTNUT PL
2 20TH ST E the University of Colorado Denver completed a $20,000,000 renovation of their Business School on 15th and Lawrence Streets in the fall VE L
G N
ONT ROCKM
W
AY DW OA BR
COORS student fees and otherNCprivate sources. In addition, numerous other21ST not-for-profit institutions of higher education and private, for-profit A ST ST FIELD
STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
TRANSPORTATION Downtown Denver serves as the transportation hub for the region, providing numerous transportation options for Downtown Denver residents, employees and visitors. Transportation options are only expanding with the addition of light and commuter rail lines, the installation of bike lanes, the expansion of Denver’s bike-sharing system and more car-sharing options. Having a variety of transportation options is important to members of the Millennial Generation, who are less likely to own a car. Millennials enjoy Denver’s bike share program, multiple car share programs, strong public transit system and walkable neighborhoods.
OVER
60%
How Do Downtown Denver Employees Get to Work?
of
Carpool 5.6% Bike 4.3%
DOWNTOWN DENVER
EMPLOYEES use
TRANSIT,WALK, BIKE OR SHARE THE RIDE
Walk 3.8% Moped/Scooter/Motorcycle 1.8% Telework 0.8%
Drive Alone 38.7% Use Transit 44.6%
Vanpool 0.5%
TO WORK Transit • 57 RTD bus routes serve Downtown Denver.
SPOTLIGHT: West Rail Line
• 6 light rail lines stop at 11 light rail stations in Downtown Denver.
• Opened April 26, 2013
• $707M capital cost
• Approximately 45,000 people boarded the 16th Street Mall shuttle
• First FasTracks line to open
• Expected ridership
• 12.1 miles of light rail
> 19,300–2013
• 11 new stations
> 29,700–2030
per day in 2012.
Car Sharing & Bike Sharing • 30 B-Cycle stations are located in Downtown Denver and over 125,000 bikes were checked out at these Downtown stations in 2012. • Downtown Denver is home to 50 car share vehicles with dedicated parking spaces operated by five different car share companies: car2go, eGo CarShare, Hertz 24/7, Occasional Car and Zipcar.
{18}
• 5,605 parking spaces
Automobiles
Bicycling
• There are 43,305 off-street parking spaces in Downtown Denver:
• 13 miles of existing bike lanes, including new 15th Street bike lane
> 33,037 spaces in parking garages
• 5 miles of sharrows
> 10,268 spaces in lots
• 5.5 miles of trails
• The median rates for parking garages and surface parking lots have remained relatively stable, with a slight increase in the past year. The median daily max rates are $16.00 for parking garages and $8.00 for surface parking lots. The median monthly rates are $177.50 for parking garages and $117.50 for surface parking lots.
• Parking rates vary widely by neighborhood. More detailed parking rate information can be found at www.downtowndenver.com.
LOOKING AHEAD: Denver Union Station Denver Union Station is a unique and transformative development project that is already changing Downtown Denver. As the future multi-modal transit hub of the Rocky Mountain region, the publicly funded Denver Union Station Infrastructure Redevelopment project is spurring significant private development around the transit center. While this multi-billion dollar project has been in the works for almost a decade, 2014 will mark the beginning of a series of official grand openings scheduled to occur over the next several years. • Denver Union Station Bus Complex is scheduled to open May 9, 2014. • 110-room boutique hotel in the renovated historic train station will open June 2014. • Over 22,000 square feet of new retail space added to the historic train station, including restaurant concepts by The Kitchen, Snooze and Chef Alex Seidel. • Public spaces will open throughout early 2014. • Eight private developments are under construction, investing approximately $400 million in the Central Platte Valley—Commons and Lower Downtown neighborhoods around Denver Union Station, with many more projects in the planning stages. • Three new commuter rail lines are scheduled to open in 2016, including the East Line to Denver International Airport.
Sources: Downtown Denver Partnership, City & County of Denver, Denver Bike Sharing , Denver Union Station Project Authority, and Regional Transportation District
{19}
STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
ENVIRONMENT Downtown Denver’s residents, employees, employers and visitors enjoy a healthy green environment and a culture of sustainability: • 152 acres of parks and open space in Downtown Denver • 51 Energy Star certified buildings in Downtown Denver • 39 LEED certified buildings in Downtown Denver • 2,075 trees located in the Business Improvement District • The Colorado Convention Center in Downtown Denver has the most innovative green initiatives in the country, according to a leading trade show magazine • The City of Denver is the only city in the U.S. to receive certification to the ISO 14001:2004 standard by Lloyd’s Register Quality Assurance, Inc. for the City’s Environmental Management System. This certification rewards Denver’s commitment to making City buildings, property and processes more sustainable.
Selected Parks In Downtown Denver PARK
ACRES
SPOTLIGHT: Downtown Denver Garden Block The Downtown Denver Garden Block is an oasis on the 16th
City of Cuernavaca Park
29.1
Street Mall bringing a unique environment to the block
Commons Park
19.7
between Champa and Curtis Street. Installations of various
Gates Crescent Park
14.2
Civic Center Park
12.5
Street Mall, giving Downtown Denver visitors, residents and
Centennial Park
6.6
workers a beautiful place to eat, meet, linger and enjoy the
Fishback Park
4.0
Speer Blvd Park
3.5
Skyline Park
3.2
Confluence Park
2.9
DCPA Sculpture Park
2.5
Denver Skate Park
2.4
Confluence East Park
1.3
Creekfront Park
1.0
{20}
small gardens, representative of those featured at the Denver Botanic Gardens, create a pocket park on the 16th
urban landscape.
Sources: Downtown Denver Partnership, City of Denver, CoStar, Colorado Convention Center
{21}
STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
TOURISM
Downtown Denver Total Hotel Room Nights
When visitors come to Denver for business or pleasure, they are likely to spend time in Downtown Denver. Six of the top ten attractions for Metro Denver visitors are located in Downtown Denver, and the 16th Street Mall remains the top visitor destination. The award-winning Colorado Convention Center hosted 915,000 visitors in 2012. Downtown Denver is home to 24 hotels with over 8,850 hotel rooms. This represents almost 20% of the hotel rooms in the entire ten-county Metro Denver region. Demand for Downtown Denver hotel rooms remains high, with hotels enjoying rising occupancy
2,000,000 1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 400,000 0
1,753,271
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
and room rates. Three hotel projects are under construction and one hotel project is proposed. When completed, these four projects
Downtown Denver Hotel Market Occupancy Percentage 76% 74% 72% 70% 68% 66% 64% 62% 60% 58% 56%
11,000
National Council of Teachers of Mathematics
11,000
American College of Emergency Physicians
9,500
{22}
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
Sources: Visit Denver, Downtown Denver Partnership, Rocky Mountain Lodging Report 2000-2012
2011
Colorado Crossroads Volleyball Tournament
2010
11,500
2009
Heart Rhythm Society
2008
12,000
2007
American Water Works Association
2006
15,000
$153.50
2005
International Association of Fire Chiefs
$170.00 $160.00 $150.00 $140.00 $130.00 $120.00 $110.00 $100.00 $90.00 $80.00 2004
17,000
2003
American Institute of Architects
Downtown Denver Average Room Rate
2002
19,000
2001
SnowSports Industries America
2000
Attendance
2001
2000
Major Conventions at the Colorado Convention Center August 2012–July 2013 Convention
73.4%
2012
will add another 850 rooms to Downtown’s hotel market.
STATE OF DOWNTOWN DENVER // SEPTEMBER 2013
CULTURE, ENTERTAINMENT, SPORTS & EVENTS
Sample Downtown Events
Downtown Denver is home to a variety of cultural institutions,
Dr. Martin Luther King, Jr. Marade
January
museums and sports venues. From opera to football, Downtown
National Western Stock Show Parade
January
Denver is the place to be. The Denver Performing Arts Complex
Denver St. Patrick’s Day Parade
is the nation’s second-largest performing arts complex with 10
Doors Open Denver
April
performance spaces, including an opera house, concert hall and
Cinco de Mayo Festival
May
various theatres. The region’s premier museums are located in
Denver Comic Con
Downtown Denver. The Denver Art Museum, Clyfford Still Museum,
Denver Cruiser Ride
May-September
Denver Museum of Contemporary Art and the History Colorado
Denver Day of Rock
May
Center provide a variety of permanent and temporary exhibits for
Denver Derby Party
May
Denver visitors and residents to enjoy.
Downtown Denver Arts Festival
May
Kaiser Permanente Colfax Marathon
May
Capitol Hill People’s Fair
June
Cherry Blossom Festival
June
Families have many reasons to visit Downtown Denver. In addition to family-friendly exhibits at the many museums, families love visiting the Downtown Aquarium, the Children’s Museum of Denver and Elitch Gardens Theme and Water Park.
Civic Center EATS
March
May-June
June-September
Denver Bike to Work Day
June
Sports fans of all kinds can attend over 200 games played annually
Denver Chalk Art Festival
June
at Denver’s major sports venues located in and adjacent to
Denver PrideFest
June
Downtown Denver at The Pepsi Center, Coors Field, and Sports
InnovAge Moonlight Classic
June
Authority Field at Mile High. Downtown Denver also hosts the
Make Music Denver
June
final stage of the USA Pro-Cycling Challenge and many other
Independence Eve at Civic Center
July
professional and amateur sporting events.
Southwest Movies at Skyline Park
July-August
Underground Music Showcase A Taste of Colorado
Facility Children’s Museum of Denver Coors Field Denver Art Museum Denver Performing Arts Complex Denver Public Library - Central Elitch Gardens Theme and Water Park Museum of Contemporary Art Pepsi Center
2012 Attendance 348,459 2,630,458 589,296 1,236,811 949,429 1,100,000 42,426 2,000,000
Sports Authority Field at Mile High
840,000
U.S. Mint
42,007
Source: Visit Denver, Downtown Denver Partnership
July August
Komen Race for the Cure
September
USA Pro Cycling Challenge
September
Columbus Day Parade
October
Denver Zombie Crawl
October
Gorilla Run
October
Great American Beer Festival
October
Oktoberfest October Rock n’ Roll Marathon Denver Christkindl Market Grand Illumination Southwest Rink at Skyline Park
October November-December November November-February
Starz Denver Film Festival
November
9News Parade of Lights
December
New Year’s Eve Fireworks
December
{23}
Downtown Denver Inc. Board of Directors 2013–2014
Ralph Pace, US Bank
Michael Glade, Molson-Coors Brewing Company
Ray Pittman, CB Richard Ellis
Jerry Glick, Columbia Group Limited, LLLP
Walter Isenberg, Sage Hospitality, Chairman
Susan Powers, Urban Ventures LLC
Tom Gougeon, Gates Family Foundation
Rob Cohen, IMA Financial Group, Inc., Vice Chair
Gary Reiff, Black Creek Group
Beth Gruitch, Rioja
Trinidad Rodriguez, D.A. Davidson & Co., Treasurer
Jon Robinson, UMB
Ismael Guerrero, Denver Housing Authority
Ralph Pace, US Bank, Secretary
Maja Rosenquist, Mortenson Construction
Randy Hammond, JPMorgan Chase
Jim Basey, Centennial Bank
Kathy Seidel, Northern Trust Bank of Colorado
Amy Hansen, Otten Johnson Robinson Neff & Ragonetti
Mike Bearup, KPMG LLP
David Shapiro, DaVita Inc.
Rus Heise
Scott Bemis, Denver Business Journal
John Shaw, McWhinney
Doug Hock, Encana
Molly Broeren, Molly’s of Denver
Charlita Shelton, University of the Rockies
Don Hunt, Colorado Department of Transportation
Kristin Bronson, Rothgerber Johnson & Lyons LLP
Marc Spritzer, CoBiz Financial
Jennifer Johnson
Brad Buchanan, RNL Design
George Thorn, Mile High Development
Jim Johnson, JG Johnson Architects
Chad Calvert, Noble Energy
Deborah Wapensky, Vectra Bank Colorado
Stephen Jordan, Metropolitan State University of Denver
Chris Castilian, Anadarko Petroleum Corporation
Travis Webb, BKD CPAs & Advisors
Brian Klipp, klipp—a division of gkworks
Stephen Clark, S. B. Clark Companies
Tracy Winchester, Five Points Business District
Greg Leonard, Grand Hyatt
Mark Cornetta, 9News
David Wollard
Roland Lyon, Kaiser Foundation Health Plan of Colorado
Dana Crawford, Urban Neighborhoods, Inc.
John Yarberry, Wells Fargo
Evan Makovsky, NAI Shames Makovsky
Andre Durand, Ping Identity
Mike Zoellner, RedPeak Properties
Gene Myers, New Town Builders
David Eves, Public Service Company, an Xcel Energy Company Cole Finegan, Hogan Lovells US LLP
Denver Civic Ventures Board of Directors 2013–2014
Cindy Parsons, Comcast Bill Pruter, The Nichols Partnership Sarah Rockwell, Kaplan Kirsch Rockwell LLP
Bob Flynn, Crestone Partners, LLC
Joe Vostrejs, Larimer Associates, Chairman
Mark Goodman, Boyer’s Coffee
Bill Mosher, Trammell Crow Company, Vice Chair
Ken Schroeppel, University of Colorado Denver, College of Architecture & Planning
Jim Greiner, iTriage, LLC
Trinidad Rodriguez, D.A. Davidson & Co., Treasurer
Tim Schultz, Boettcher Foundation
Tom Grimshaw, Spencer Fane & Grimshaw, LLP
Meg VanderLaan, MWH Global, Inc., Secretary
Chip Schweiger, Grant Thornton
Lisa Halbleib, Century Link
Bruce Alexander, Vectra Bank Colorado
Glen Sibley, Fleisher Smyth Brokaw
Todd Hartman, Callahan Capital Partners
Sueann Ambron, Univ of Colo Denver, Business School
Mark Sidell, Gart Properties
Michael Hobbs, Guaranty Bank and Trust Company
Holly Barrett, LoDo District, Inc.
David Sternberg, Brookfield Office Properties
Kathy Holmes, Holmes Consulting Group
Ray Bellucci, TIAA-CREF
Jean Townsend, Coley Forrest, Inc.
Bruce James, Brownstein Hyatt Farber Schreck
Ferd Belz, L.C. Fulenwider, Inc.
David Tryba, Tryba Architects
Steve Katich, J.E. Dunn Construction Co.
Peter Bowes, Bowes and Company
Elbra, Wedgeworth, Denver Health
David Kenney, The Kenney Group
Marvin Buckels
Wendy Williams, Vector Property Services, LLC
Pete Khanna, TrackVia, Inc.
Frank Cannon, Union Station Neighborhood Company
Dick Kirk, Richard A. Kirk & Associates
Dee Chirafisi, Kentwood City Properties
Gail Klapper, The Klapper Firm
Cheryl Cohen-Vader, Stapleton Development Corporation
Kim Koehn, K2 Ventures, LLC
Gene Commander, Polsinelli
Mike Komppa, Corum Real Estate Group
Gary Desmond, NAC Architecture
Tom Lee, Newmark Grubb Knight Frank
Kelly Dunkin, The Colorado Health Foundation
Laura Love, Groundfloor Media
Taryn Edwards, Saunders Construction Co.
Dan May, Renal Ventures
Greg Feasel, Colorado Rockies Baseball Club
John Moye, Moye White
Patty Fontneau, Connect for Health Colorado
Will Nicholson, Rocky Mountain BankCard Systems, Inc.
Mac Freeman, Denver Broncos
Downtown Denver Business Improvement District Board Ed Blair, Embassy Suites Denver, Chair Josh Fine, Focus Property Group, Vice Chair Josh Comfort, Real Estate Development Services, Treasurer Susan Cantwell, The Gart Companies, Secretary Dorit Fischer, NAI Shames Makovsky Kevin McCabe, Newmark Grubb Knight Frank Myra Napoli, Brookfield Office Properties
DDP Staff Contributors / Editors The State of Downtown Denver report is created by the Downtown Denver Partnership Research Department. Staff contributors and editors include: Emily Brett, Aylene McCallum, John Desmond, Jim Kirchheimer, Brian Phetteplace, Bonnie Gross, Ryan Sotirakis, Aneka Patel, Susan Rogers-Kark, Beth Warren, Amanda Jimenez and Tami Door.
Information Sources American College of Sports Medicine, American Forests, Auraria Higher Education Center, Brookings, Business Journals, Businessweek.com, CardHub, Central Connecticut State University, City of Denver, Claritas, CleanEdge, Colorado Convention Center, Colorado State University , Community College of Denver, CoStar, Denver Business Journal, Denver Infill, Denver Metro Apartment Vacancy and Rent Survey, Denver Post, Denver Union Station Project Authority, Downtown Denver Partnership, Entrepreneur Magazine, Forbes, Gallup, Kiplinger’s, LedgerLink, Longitudinal Employment Household Dynamics, Metro Denver Economic Development Corporation, Metro State University Denver, NerdWallet, Newmark Grubb Knight Frank, Quarterly Census of Employment and Wages, Regional Transportation District, Rigzone, Rocky Mountain Lodging Report 2000–2012, Travel + Leisure, U.S. Census Bureau, Under30CEO, University of Colorado Denver, Visit Denver, www.walkscore.com
Graphic Design Pure Brand Communications For errata Please visit www.downtowndenver.com
“ A city is a place where there is no need to wait for next week to get the answer to a question, to taste the food of any country, to find new voices to listen to and familiar ones to listen to again.” — Margaret Mead
Published in September 2013 by: Downtown Denver Partnership 511 16th Street, Suite 200 Denver, CO 80202 303.534.6161 www.downtowndenver.com Follow Us:
Downtown Denver @DowntownDenver