3X $2.8B under construction or planned 66% Bachelor’s ... · rankings downtown denver’s strategic vision. development + investment office market + employers. workforce residents.

14TH ST

PRODUCED BY THEDOWNTOWN DENVER PARTNERSHIP

2 0 1 7 S T A T E O F

Being invested through developments under construction or planned$2.8B

of downtown residents have aBachelor’s degree or higher66%

Downtown’s residential population has tripled since 2000 3X

private-sector employmentgrowth since 2010 21%

RANKINGS

DOWNTOWN DENVER’S STRATEGIC VISION

DEVELOPMENT + INVESTMENT

OFFICE MARKET + EMPLOYERS

WORKFORCE

RESIDENTS

RETAIL + RESTAURANTS

MOBILITY

PUBLIC SPACE + ACTIVATION

STUDENTS + UNIVERSITIES

TOURISM + ATTRACTIONS

ACKNOWLEDGEMENTS

3

4-5

6-7

8-9

10-11

12-13

14-15

16-17

18-19

20-21

22-23

25

TABLE OF CONTENTS

> INTRODUCTIONDenver is only as strong as its center, and through a visionary bias for action and community commitment to plan with purpose, Downtown Denver is thriving. We’re building a center city that is a place where people want to live, work, and visit, and where companies want to locate, driving significant investment to meet increased demand.

The 2017 State of Downtown report showcases the success of the Downtown Denver Partnership’s place-based economic development strategy to build an economically healthy and vital downtown. Our residential population, at the center of one of the fastest growing cities in the U.S., is expanding at unprecedented rates. Our diverse economy added close to 6,000 jobs over the past 24 months, bolstered by the arrival of 23 new companies and a nationally recognized culture of innovation and entrepreneurship.

All aspects of our city – from development to mobility, to high-profile rankings and unique downtown experiences – benefit from the impact of the business community supporting each and every citizen who calls our vibrant city home. In Downtown Denver, we are creating a powerful economic engine for the city, state, and region.

LEARN MORE: WWW.DOWNTOWNDENVER.COM

2

RANKINGSBest place for businessand careers - Forbes

Best place to live- U.S. News and World Report

Largest increase inworkers - LinkedIn

Hottest food city- Zagat

Best city to starta career - WalletHub

Fastest growing largecity - WalletHub

Best city for job seekersin 2017 - NerdWallet

Best city for millennials- SmartAsset

Best city to start a techcareer - ComputerTrainingSchools.com

3rd Happiest homeowners - HomeAdvisor4th Most popular relocation city for Bay Area talent - LinkedIn

9th Best U.S. destination 2017 - Lonely Planet

4th Most bike-friendly downtown - Forbes

6th Most increased millennial job interest - WalletHub

4th Best airport-to-city rail connection - MileCards.com

5th Best city for �rst-time homebuyers - WalletHub

3rd Most appealing city to hipsters - Infogroup

8TH Best market in the Americas for commercial real estate investment – CBRE • 3RD Best market for real estate agents – Wallet Hub • 5TH Best city to live – Timeout • 1ST Best place for pets to live – Trulia • 3RD Best place to live – Outside Magazine • 6TH Best city to celebrate Oktoberfest – WalletHub • 7TH Best place for development and construction of green buildings – CBRE Inc. • 2ND Best city for beer lovers – Infogroup • 3RD Most millennials moving from another city – May�ower • 5TH Best place for business travel – On Call International • 9TH Best metro area for retirees – ValuePenguin.com • 1ST Best place for New Year’s Eve celebrations – WalletHub • 7TH Fastest apartment inventory growth – MPF Research • 8TH Best holiday destination – Allianz Global Assistance

&

1ST2ND4TH

2ND3RD4TH

2ND3RD4TH

3

Photo Credit: Ryan Dravitz Photography

Prosperous• The Downtown

of the Rocky Mountain Region

• Energizing the Commercial Core

• A Comprehensive Retail Strategy

• Clean and Safe

Walkable • An Outstanding

Pedestrian Environment

• Building on Transit

• Bicycle City

• Park the Car Once

• Grand Boulevards

Diverse• Downtown Living

• A Family-Friendly Place

• Embracing Adjacent Neighborhoods

• An International Downtown

Distinctive• District Evolution

• Connecting Auraria

• Downtown’s New Neighborhood: Arapahoe Square

Green• An Outdoor Downtown

• A Rejuvenated Civic Center

• Sustainable Use of Resources

The Outdoor DowntownThis 20-year master plan will provide the City with visionary and actionable policies, programs and projects making Downtown’s parks and public spaces world-class destinations. A Funding and Governance Committee will be created in 2017 as a major step in implementing the plan.

16th Street Mall After several years of study focused on infrastructure, the City, RTD, and the Partnership are now undertaking a broader analysis of the Mall that includes studying alternative alignments of the Mall transit lanes. The analysis is scheduled to be complete by the end of 2017.

Denver Moves DowntownDenver Moves Downtown will re-imagine the downtown transportation system to one that provides meaningful placemaking and economic development opportunities within an integrated downtown transportation network that fosters mobility choices.

Downtown Area Plan:The 2007 Downtown Area Plan sets forth a 20-year vision to make Downtown Denver one of the most livable places in the world. Now at its half-way mark, significant progress has been made toward achieving the goals set forth by the Downtown Area Plan. The vision elements and accompanying strategies guiding Downtown Denver are:

Major Downtown Planning Initiatives:

Sources: Downtown Denver Partnership, 2007 Downtown Area Plan, City and County of Denver

5

Boundaries This report uses two geographic definitions as shown on the map below – Downtown Denver and center city. Downtown Denver refers to the core of Downtown Denver and was initially set forth by the 2007 Downtown Area Plan. The Downtown Denver boundary was expanded slightly in 2017. The northwestern edge of the boundary was moved from Platte River to I-25. All numbers in this report refer to the expanded Downtown Denver boundary. The center city neighborhood boundary includes Downtown Denver and its surrounding residential neighborhoods.

4

DENVER

UNION

STATION

LAFA

YET

TE S

T

E SPEER BLVD

E 19TH

GIL

PIN

ST

W

FRA

NK

LIN

ST

HIG

H S

TW

ILLI

AGIL

PIN

ST

E 30TH AVE

HU

MB

OLD

T ST

LAFA

YET

TE S

T

PLATTE ST

GIL

PIN

ST

GIL

PIN

ST

HIG

H S

T

WIL

LIA

MS

ST

GILP

IN ST

W COLFAX AVE

FRA

NK

LIN

ST

30TH ST

E 18TH AVE

HU

MB

OLD

T ST

ZU

NI S

T

FED

ERA

L B

LVD

SAN

TA FE D

R

E 24TH AVE

E 25TH AVE

MA

RIO

N S

TM

AR

ION

ST

HU

MB

OLD

T ST

HU

MB

OLD

T ST

16TH ST MALL

E 35TH AVE

E 29TH AVE

E 34TH

E 36TH

E 37TH AVE

FRA

NK

LIN ST

WIL

LIA

MS

STW

ILLI

AM

S ST

HIG

H S

TH

IGH

ST

GR

AN

T ST

W COLFAX AVE

BLAKE ST

E 13TH AVE

PEC

OS

ST

38TH AVE

N SPEER

W 8TH AVE

BRIGHTON B

LVD

E 31ST AVE

MARTIN LUTHER KING BLVD

20TH

LINC

OLN

STPARK AVE

E 8TH AVE

DO

WN

ING

ST

CHAMPA

ST

SPEER

BR

OA

DW

AY

Gates Crescent

Park

JeffersonPark

Centennial

Gardens

City ofCuernavaca

Park

RudePark

LincolnPark

CommonsPark

CivicCenter

Park

20TH AVE

38TH ST

BOUNDARYLEGEND

E 6TH AVE

CENTRALPLATTE VALLEY

HIGHLAND

JEFFERSONPARK

LODO

BALLPARK

RINO

CURTIS PARK/FIVE POINTS

UPTOWN

CAPITOLHILL

CENTRALBUSINESSDISTRICT

AURARIA

SUN VALLEY

GOLDEN

LA ALMA/LINCOLN PARK

TRIANGLE

CENTER CITYNEIGHBORHOOD

BOUNDARY

DOWNTOWN DENVER BOUNDARY(Adjusted 2017)

25

7

P R O D U C E D B Y T H E D O W N T O W N D E N V E R P A R T N E R S H I P | D O W N T O W N D E N V E R . C O M

54 DOWNTOWN DENVER’S STRATEGIC VISIONThe Downtown Denver Partnership convenes public and private sector leaders to create and implement a place-based economic development strategy to build a world-class center city.

WE ARE EXECUTING A STRATEGIC VISION TO BUILD ONE OF THE MOST ECONOMICALLY POWERFUL CITIES IN THE COUNTRY.

T A M I D O O RCEO, Downtown Denver Partnership

“

MAP OF DOWNTOWN BOUNDARIES+

7

Sources: Downtown Denver Partnership

BUILDING FOR THE FUTURE76 DEVELOPMENT + INVESTMENT

With a vision for the future, developers are responding to increased demand for residential, office, and hotel product propelled by strong population and job growth.

In 2016 and early 2017, 7 development projects were completed in Downtown Denver, representing:• $512,800,000 of investment

• 350 additional hotel rooms

• 650 additional residential units

• 870,000 additional square feet of office space

As of mid-2017, there are 31 projects under construction and 11 projects planned for development in Downtown Denver, representing:• $2,765,040,000 of investment

• 1,181 additional hotel rooms

• 5,341 additional residential units

• 2,509,300 additional square feet of office space

+

+ResidentialOf�ceMixed-Use

CivicHotelTransportation + Public Realm

45% 24% 19% 14% 10% 5%

2010 2011 2012 2013 2014 2015 2016 2017 2018+

5

10

15

20

25

24Development Projects Completed by Year

Variety of Project Types

HOTEL

ResidentialUnits Added

Of�ceSF Added

HotelRooms Added

3,817

5,341

In the Pipeline(Projects under construction orplanned as of mid-2017)42Completed

(Projects completed between2014 and mid-2017) 42

COMPLETED

IN THE PIPELINE

COMPLETED

IN THE PIPELINE

1,644,000

2,509,300

1,343

1,181

LEADSTO

LEADSTO

LEADSTO

4,499Estimated new

downtown residents(from projects completed)

5,768Estimated new

downtown employees(from projects completed)

351,866Estimated new annual

downtown visitor nights(from projects completed)

6,295Projected new

downtown residents(from projects in the pipeline)

8,805Projected new

downtown employees(from projects in the pipeline)

309,422Projected new annual

downtown visitor nights (from projects in the pipeline)



• Downtown Denver has a total of 37,155,879 square feet of office space.

• Since 2014, Downtown Denver has added 1,644,000 square feet of office space. Despite a slight increase in vacancy rates over the past year, average lease rates have remained relatively flat at around $33/sf.

• As of mid-2017, there is a total of 1,579,800 square feet of office space under construction in Downtown Denver, and an additional 929,500 square feet of office planned for development.

2U Inc.

EDUCATION

+

Artisan Talent

BUSINESS SERVICES

+CapTech Consulting+

Romano’s Corporate

FOOD/BEVERAGE

Whole Foods Market Regional Office

Prologis

REAL ESTATE DEVELOPMENT

BP Lower 48

ENERGY

Microgrid Energy+Real Goods Solar Inc.

Sunrun+

DISH Grand Central

eFolder

Gusto

HomeAdvisor

msgNETCONOMY

QuoteWizard

Remote-Learner

SendGrid

SyncHR

TapInfluence

TrustPilot

VIPER (Comcast)

World Wide Network

TECHNOLOGY

+

+

++

+++

“ P A M E L A G L I C KCEO, SyncHR

MOVING TO DENVER INCREASES OPPORTUNITIES FORCOLLABORATION WITH OTHER FRONT RANGE TECH LEADERS.

“K U B A P O R A J - K U C Z E W S K I

VP, QuoteWizard

WE CONSIDERED SEVERAL CITIES FOR EXPANSIONBUT CHOSE DENVER BECAUSE IT’S HOME TO AVERY TALENTED AND SAVVY WORKFORCE.

“D A V E L A W L E RCEO, BP Lower 48

WE SEE DENVER AS AN IMPORTANTENERGY HUB FOR THE FUTURE.

+Headquarters Relocation

Expansion - New Office

Consolidation of Offices - HQ

LEGEND

*Graphic only includes major, public relocation/expansion announcementsfrom March 2015-March 2017. Graphic does not include the many and significantexpansions made by existing Downtown Denver companies.

TOP 20 DOWNTOWN DENVER EMPLOYERS*:Hyatt Regency Hotel at the ColoradoConvention CenterKPMG LLPMortenson ConstructionSheratonTIAATransamerica Investments& Retirement US BankWells FargoXcel Energy

Accenture ALPs Fund ServicesAnadarko PetroleumAnthem Blue Cross Blue ShieldCenturyLinkComcastDaVita HealthCare Partners Inc.Deloitte LLPDenver PostEncanaGates Corporation

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

$23$25$27

$31$29

$35

Direct Vacancy Rate

$33

8%

6%

10%

14%

12%

1Q11

2Q13

3Q13

4Q13

1Q14

2Q14

$32.9711%3Q

14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

4Q16

Direct Average Lease Rate (per sf)

Downtown Denver Of�ce Market TrendsDirect Vacancy and Lease Rates

Denver’s center city is a growing and thriving tech hub, with 664 tech startups employing over 4,500 people and over 160 technology businesses founded in just the past year. The Downtown Denver Partnership, along with other community leaders, have built resources to ensure that anyone who wants to start or grow a business can succeed in Downtown Denver. These resources include Denver Startup Week, the largest free entrepreneurial event in North America with over 13,000 participants, and The Commons on Champa, a public campus for entrepreneurship where businesses, nonprofits, and individuals can assemble, collaborate and gain access to resources and educational content.

The mix of a robust existing startup community, one of the most highly-educated and fastest-growing workforces in the country, and dedicated resources to support innovators at all stages make Downtown Denver the best place to start and grow a business.

Sources: City and County of Denver. CoStar, Downtown Denver Partnership, Metro Denver Economic Development Council, Denver Post, Denver Business Journal, Development Research Partners

A GROWING HUB OF TECHNOLOGY AND INNOVATION

An increasing number of companies are locating in Downtown Denver, indicative of its reputation as one of the best places in the country to start and grow a business.

+

CORPORATE RELOCATIONS& EXPANSIONS+ 98 OFFICE MARKET + EMPLOYERS

*List includes only private sector, for-profit employers


• Employment in Downtown Denver is growing at a faster rate than employment nationally. From 2010 to 2016, employment in Downtown Denver has increased 17%, while employment nation-wide has only increased by 11%. Downtown Denver’s employment growth has been led by new and growing private-sector businesses. Since 2010, private-sector employment is up 21%, while government employment has only grown by 4%.

• As of the end of 2016, the unemployment rate in the City and County of Denver was 2.8% and the unemployment rate in Metro Denver was 2.7%, compared to 4.5% nation-wide.

• Downtown Denver is home to many of the region’s leading coding schools and bootcamps, including Galvanize, General Assembly, SecureSet, Skill Distillery, and Turing School of Software and Design.

105 K

2010

2011

110 K

115 K

120 K

125 K

130 K

135 K

2012

2013

2014

2015

2016

130,227Employment Growth in Downtown Denver

Employment by Sector in Metro Denver and Downtown Denver

Sources: Colorado Department of Labor and Employment Quarterly Census of Employment and Wages (Q2 2015 data), Development Research Partners,Downtown Denver Partnership, Metro Denver Economic Development Council

IF YOU’RE GOING TO SCALE SOMEWHERE, YOU’VE GOT TO HAVE THAT FLOW OF TALENT, AND IN DENVER, YOU HAVE IT.

“

Downtown Denver’s highly educated and in-demand workforce is growing to support the center city as an epicenter of business and innovation.

1110 WORKFORCE

S A M E E R D H O L A K I ACEO, SendGrid

5%

0%

Professional &

Business Services

Government

Leisure & Hospitality

Financial Activitie

s

Natural Resources &

Construction

Wholesale & Retail Trade

Information

Education & Health

Services

Other Services

Transp., Warehousing &

Utilitie

s

Manufacturing

10%

15%

20%

25%

30%Downtown

Metro Denver

Perc

ent o

f Tot

al E

mpl

oym

ent

DOWNTOWN DENVER OFFERS ACCESS TO METRODENVER’S IN-DEMAND WORKFORCE+

FORTY FOURpercent of the population have a

Bachelor’s degree or higher (vs. US average of 31%)

9.4%#1 best place for

business & careers

best placeto start atech career

#3

METRO DENVER WORKFORCE

1,649,882LABOR FORCE

year-over-year growth inIT-Software industry

4TH highest shareof educatedmillennials(23% of workforce)

3,133,826metro area population

MEDIAN AGEthirty seven

2ndyear ina row

100,000100,000+ students enrolled at metro

area colleges and universities

37


• 79,367 people live in Downtown Denver and the center city neighborhoods, an increase of almost 16,000 residents since 2010.

• The City of Denver is one of the fastest growing large cities in the United States with a population of 693,060. Over the past five years, Denver has been adding an average of 15,000 residents per year.

• 5,341 residential units are under construction or planned for development in Downtown Denver.

• The average rent for a one-bedroom apartment in Downtown Denver is $1,574; the average rent for a studio is $1,285.

• The average price of the 553 homes sold in Downtown Denver in 2016 was $497,000, and homes sold for an average of $427/sf. In the center city neighborhoods, 1,528 homes sold in 2016 for an average sales price of $425,000 at an average of $380/sf.

population

7,638

downtown denver demographics+

WHITE

80%

HISPA

NIC

8%

BLAC

K

4%

ASIAN

4%

OTHE

R

3%

WHITE

70%

BLAC

K

7%

ASIAN

3%

OTHE

R

3%

HISPA

NIC

17%race / ethnicityage & gender

households with no vehicles

21.2% 20.7%

average household size

1.42 1.59

*34.3 *33.8F 43.8%M 56.2%

F 45.2%M 54.8%

*median age

center city neighborhood demographics

2000

2010

2017*

2022*

15,486

22,010

24,408 87,345

79,367

63,493

55,865

*estimate/projection

years years

14,025

47,391

households household types

Non-familyHousehold

Family(with child/children)

Family(Married, No Child)

Family(Other, No Children)

$113,565

$85,546average household income

educational attainment

Bachelor’s Degree

Master’s Degree

Doctorate Degree

Professional School Degree

2% 2%

6% 4%

17% 14%

41% 37%

3% 9%82% 78%

13% 10% 2% 3%

DowntownDenver

Downtown Denver’s Expanding Residential Population

Center CityNeighborhoods

City of Denver

United StatesGrowth Rate 2000-2017Projected Growth Rate 2017-2022

11%188%

10%42%

9%27%

4%16%

220% | Growth Rate2000-2022

Growth Rate2000-202256% |



Sources: Denver Research Partners, Nielsen Segmentation and Market Solutions, U.S. Census Bureau, Downtown Denver Partnership, Denver Metro Apartment Vacancy and Rent Survey, Colorado Comps

+ downtown denver boundary revised in 2017 (see page 7)

Attracted to vibrant walkable districts and high-quality residential amenities, more and more people are choosing to live in Downtown Denver and its center city neighborhoods.

1312 RESIDENTS RESIDENTIAL DEMOGRAPHICS+


Photo Credit: Regional Transportation District

• Downtown Denver has 4,184,342 square feet of retail space with a 4.3% vacancy rate and a direct average lease rate of $23.80.

• Average Household Income in Downtown Denver is $113,565, a 49% increase since 2013.

• Retail sales tax collections in Downtown Denver have increased almost 60% since 2010. Retail sales in Downtown Denver are increasing at a faster rate than retail sales in the City and County of Denver overall.

• Local, independent boutiques and chef-driven restaurants find success in Downtown Denver alongside well-known international brands. Over 50% of the retail businesses along the 16th Street Mall are local or local chains, and retail destinations like Larimer Square and Union Station are filled with unique, independent options.

$10 M$20 M$30 M$40 M$50 M$60 M

$52MILLION

2010

2011

2012

2013

2014

2015

2016

restaurants

manufacturingother

hotel + otheraccommodation services

motor vehicles + auto parts

clothing +accessory stores

44% 24%

5%

7%

miscellaneousstores

5%

4%11%

Rising Retail Sales Tax Generated by Downtown Denver

Key Downtown Denver Retail Announcements and Openings:

Retail Sales in Downtown Denver are Driven by Restaurants and Tourism

Sources: City and County of Denver, Development Research Partners, Downtown Denver Partnership, CoStar, Nielsen Segmentation and Market Solutions

Downtown Denver’s residential renaissance is encouraging retail development, including first-to-market and new-to-downtown options creating a diverse retail scene with something for everyone.

1514 RETAIL + RESTAURANTS

Sephora Pavilions, 2017

Target16th & California, 2018

UniqloPavilions, 2016

WHOLE FOODS MARKET IS EXCITED TO OPEN OUR NEW DENVER FLAGSHIP STORE, ONE OF THE LARGEST IN THE REGION, IN THE HEART OF DOWNTOWN DENVER.

“B I L L J O R D A N

President, Rocky Mountain Region, Whole Foods

Whole FoodsUnion Station, 2017

P R O D U C E D B Y T H E D O W N T O W N D E N V E R P A R T N E R S H I P | D O W N T O W N D E N V E R . C O MPhoto Credit: Regional Transportation District

• Downtown Denver employees, visitors, and residents have access to high quality mobility options including 8 rail lines, 19.4 miles of bike lanes and trails, 60 RTD bus routes including the RTD Free MallRide and Free MetroRide, an extensive bike sharing network, and 5 carshare companies with 40 dedicated parking spaces.

• In the past year, Downtown Denver saw the opening of two RTD rail corridors, the University of Colorado A line serving Denver International Airport and the B line serving Westminster, expanded service hours on RTD’s Free MetroRide, the addition of three on-street bike corrals, and 0.7 miles of added bike facilities.

• Downtown Denver employers and employees place a high value on transit pass programs. Based on the 2016 Downtown Denver Commuter Survey, 68% of Downtown Denver employees receive a fully or partially subsidized transit pass from their employer and 87% of employees rate the pass as a very valuable or valuable benefit.

Sources: Downtown Denver Partnership, RTD, City and County of Denver, B-Cycle

A robust mobility network enhances options for all downtown users, connecting to surrounding neighborhoods and strengthening economic development opportunities.

1716 MOBILITY

How Downtown EmployeesCommuted to Work in 2016

Drove alone 40%

Used transit 40%

Bicycled 7%

Walked 5%

Carpooled 5%

Teleworked 2%

Moped/Scooter/Motorcycle 1%

Lyft/Taxi/Uber 1%

DENVER

UNION STA

TION

E SPEER

BLVD

16TH ST MALL

W COLFAX AVE

N

CHAMPA S

T

BR

OA

DW

AY

LincolnPark

PARK AVE

B

BB

B

B

B

B

B

B

B

B

B

BB

B

B

B

B

B

B

BB

B

B

B

B

B

B

BB

BB

B

B

CIVICCENTERSTATION

25

+

+

+

20TH ST

RTD Free MetroRideRTD Free MallRideBike Lanes and TrailsRailBcycleTransit CenterOn-street Bicycle CorralDedicated Carshare Parking

B

+LEGE

ND

MULTI-MODAL TRANSPORTATIONOPTIONS IN DOWNTOWN DENVER+

THE EXPANSION OF OUR DOWNTOWN DENVER OFFICE ALLOWS US TO MEET THE TRANSPORTATION NEEDS OF OUR EMPLOYEES AND CUSTOMERS WHILE GROWING OUR BUSINESS.

“R A Y B E L L U C C ISenior Managing Director, TIAA


B-Cycle Stations

Bicycle Facilities

• Downtown Denver is home to a diverse mix of cultural, historical, recreational, sports and entertainment, and public attractions.

• The live music scene in Denver has been booming in recent years. The Downtown Denver Partnership hires over 250 bands annually to perform during public events.

• The Downtown Denver Partnership produces eight signature public events each year. These events are a strong economic driver, bringing more than 1,200,000 people to Downtown Denver across 198 days. In addition to these eight Partnership-hosted events, hundreds of additional events take place in Downtown Denver each year, including Denver Day of Rock, Denver Zombie Crawl, Denver Derby Party, Rock ‘n’ Roll Marathon, and many others.

DOWNTOWN EXPERIENCES BROUGHT TO YOU BY THE DOWNTOWN DENVER PARTNERSHIP+

The Downtown Loop is a bold, visionary project that will transform how the public right-of-way is used in Downtown Denver. The Downtown Loop will link neighborhoods and connect people through the great urban outdoors, prioritizing people, bikes, and our urban tree canopy by turning underutilized streets into the essential downtown experience while uniting urban life with Colorado’s outdoor culture.

As a dedicated urban trail, the Downtown Loop will create a safe and stimulating route for the center city’s rapidly growing population of residents, employees, and visitors, encouraging them to use active modes of transportation while engaging in downtown’s cultural and civic facilities and open spaces. More than simply a trail, the Downtown Loop will significantly add to the open space in downtown and provide a safe and beautiful place to actively recreate and engage with downtown neighborhoods, cultural amenities and more.

The Partnership has embarked on a robust planning process with broad community support, including generous grants from The Colorado Health Foundation, the Gates Family Foundation, and privation donations, to develop a conceptual design and final route for the Downtown Loop. Temporary buildout of the Loop begins in 2017 on one block of 21st Street with the addition of 80 trees, food and beverage, seating, shade, lawn games, and flexible spaces for various events, markets, and other programing. Once built, the 5.280-mile trail will connect downtown’s neighborhoods and diverse amenities, celebrate their unique identities and create a powerful sense of place for the many vibrant mixed-use neighborhoods in Denver’s urban core.

THE DOWNTOWN LOOP: LINKING NEIGHBORHOODS, CONNECTING PEOPLE+

THE DOWNTOWN LOOP WILL HELP TO CONNECT EMPLOYEES AND RESIDENTS TO OPPORTUNITIES FOR HEALTH AND TO EXPERIENCE OUTDOOR LIFE THROUGHOUT DOWNTOWN’S DIVERSE COMMUNITIES.

“K A R E N M C N E I L - M I L L E R

CEO, Colorado Health Foundation

Through energizing public spaces and districts, tens of millions of people enjoy and engage with Downtown Denver each year.

19

Sources: Downtown Denver Partnership

18 PUBLIC SPACE + ACTIVATION

SKYINE BEER GARDEN

30,000A T T E N D E E S

Activation: 90 days

GRAND ILLUMINATION

50,000A T T E N D E E S

Activation: 1 day

NEW YEAR’S EVE FIREWORKS

100,000A T T E N D E E S

Activation: 1 day

SOUTHWEST RINK AT SKYLINE PARK

100,000A T T E N D E E S

Activation: 90 days

SKYLINE MOVIES

3,000A T T E N D E E S

Activation: 6 days

MEET IN THE STREET

100,000A T T E N D E E S

Activation: 4 days

9NEWS PARADE OF LIGHTS

400,000A T T E N D E E S

Activation: 2 days

A TASTE OF COLORADO

500,000A T T E N D E E S

Activation: 4 days


CONT

INUE

D IN

VEST

MENT

S &

GROW

TH

Colorado Convention Center ExpansionA new expansion, funded by a voter-supported tourism tax extension, will include many new features that will make the Center the most high-tech, user-friendly meeting and event space in the nation.

The project includes the addition of 80,000sf of �exible meeting and ballroom space and over 100,000sf of new pre-function and service space, including a spectacular 50,000sf outdoor terrace to be located on the roof of the existing convention center.

The Next Stage: A Vision for the Future ofthe Denver Performing Arts Complex

Unveiled in March 2016, The Next Stage is a plan to enliven, diversify and sustain the 12-acre complex that sits in the heart of Downtown Denver.

Major shifts in cultural consumption require physical and programmatic modi�cations at the Arts Complex. Di�ering expectations of a growing population and changing development patterns necessitate new ways of integrating the 12-acre campus into everyday life.

The plan includes a new school of the arts, commercial development and expanded retail.

Denver International Airport (DEN)New commuter rail connection between Downtown Denver and the airport began April 2016.

A 500-room Westin hotel opened in late 2015.

DEN set an all-time passenger tra�c record in 2015 with over 53.4 million travelers, making it the 19th busiest airport in the world and the sixth busiest in the U.S. (by

Expanding Hotel Market in Downtown DenverThe following new hotels are under construction, with many more projects planned for development:

Kimpton Hotel - 199 rooms Dairy Block Hotel – 170 rooms Hotel Indigo – 180 rooms AC Hotels/Le Méridien – 480 rooms

$110$120$130$140$150$160$170$180

$190

$183.67

2M

1996 2006 20161M

3M

4M

5M

4.5M

70%

77.10%

2012

2013

72%

74%

78%

76%

80%

2014

2015

2016

2012

2013

2014

2015

2016

Tota

l Squ

are

Feet

of

Cam

pus

Build

ings

• Over 48,000 students attend public, not-for-profit institutions of higher education in Downtown Denver.

• More than 10,000 students attend various trade and private for-profit institutions that have classroom space in Downtown Denver.

• The Auraria Campus is a unique higher-education community located in Downtown Denver. The 150-acre campus is home to three distinct academic institutions: University of Colorado Denver, Metropolitan State University of Denver, and the Community College of Denver.

• The colleges and universities of the Auraria Campus are investing in new programs and buildings to serve current and future students, and to ensure graduates are workforce-ready when they enter the Denver job market. Two projects are currently under construction on the Campus, CU Denver’s Wellness Center and MSU Denver’s Aerospace and Engineering Sciences building, and 7 projects have been completed over the past five years.

Institution Enrollment

Metro State University of Denver 19,800

University of Colorado Denver 14,770

Community College of Denver 9,114

Colorado State University Executive MBA Program 24

Emily Griffith Technical College 4,690

TOTAL 48,398

Sources: Auraria Higher Education Center, Colorado State University, Community College of Denver, Downtown Denver Partnership, Emily Griffith Technical College, Metro State University of Denver, University of Colorado Denver

A diverse array of educational opportunities, from traditional universities to coding schools, help build the workforce of the future and ensure businesses have access to top talent.

2120 STUDENTS + UNIVERSITIES

Development on the Auraria Campus


Photo Credit: Wenk Associates, Inc.

Photo Credit: Wenk Associates, Inc.

• Denver tourism has been setting records for 10 consecutive years. In 2016, Denver welcomed 16.4 million overnight visitors who spent $5 billion, including increases in all visitor spending categories.

• Downtown Denver has 35 hotels with a total of 9,500 hotel rooms and over 500,000 square feet of meeting space.

• The Colorado Convention Center welcomed nearly 1 million people at over 210 events in 2016.

• Downtown Denver is home to many of the most popular Denver-area attractions for visitors and residents, including award-winning museums and three major league sports team venues.

• The Denver Performing Arts Complex is the second-largest preforming arts complex in the U.S. with 10 performance spaces.

22

Major Conventions and Events in Downtown Denver, 2017

SnowSports Industries America Snow Show January 18,000

Society for Mining, Metallurgy & Exploration February 6,500

Government Finance Officers Association May 7,000

Society for Nuclear Medicine & Molecular Imaging

June 5,600

Denver Comic Con June 101,000

American Association of Physicists in Medicine

July 4,000

American Numismatic Association August 6,000

Cardiovascular Research Foundation October 11,500

Great American Beer Festival October 60,000

Association for Computing Machinery November 11,500

23

CONT

INUE

D IN

VEST

MENT

S &

GROW

TH

Colorado Convention Center ExpansionA new expansion, funded by a voter-supported tourism tax extension, will include many new features that will make the Center the most high-tech, user-friendly meeting and event space in the nation.

The project includes the addition of 80,000sf of flexible meeting and ballroom space and over 100,000sf of new pre-function and service space, including a spectacular 50,000sf outdoor terrace to be located on the roof of the existing convention center.

Denver International Airport (DEN)New commuter rail connection between Downtown Denver and the airport began April 2016.

A 500-room Westin hotel opened in late 2015.

DEN set an all-time passenger traffic record in 2015 with over 53.4 million travelers, making it the 19th busiest airport in the world and the sixth busiest in the U.S. (by total passenger traffic).

Expanding Hotel Market in Downtown DenverThe following new hotels are under construction, with many more projects planned for development:

Kimpton Hotel - 199 rooms Dairy Block Hotel – 170 rooms Hotel Indigo – 180 rooms AC Hotels/Le Méridien – 480 rooms

$110$120$130$140$150$160$170$180$190

$183.67

$110

2012 2013 2014 2015 2016

$100

$120

$130

$140

$150$141.54

70%

77.10%

2012

2013

72%

74%

78%

76%

80%

2014

2015

2016

2012

2013

2014

2015

2016

Average Daily Room Rate

Revenue Per Available Room

Downtown Hotel Occupancy

Sources: VISIT DENVER, Downtown Denver Partnership, Rocky Mountain Lodging Report, City and County of Denver, Colorado Convention Center, Denver International Airport

Denver’s center city has emerged as a premier visitor destination. With its concentrated amenities including award-winning restaurants, a diverse retail scene, impressive museums and cultural offerings, exciting sporting venues, and family-friendly events, Downtown Denver is a must-visit destination for the 16.4 million annual visitors to the Metro Denver area. With the 2016 opening of the University of Colorado A Line, Downtown Denver now has a valuable direct rail connection to Denver International Airport, the sixth busiest airport in the U.S. serving 58 million passengers annually with direct access to 180 destinations.

Due to a thriving local economy, premier visitor amenities, and commitment to excellent service and hospitality, Downtown Denver’s hotel market has experienced strong growth. In the past five years, Revenue Per Available Room is up 26%, Average Daily Room Rate is up 20%, and Occupancy is up 5% for the Downtown Denver hotel market. Developers are taking note of strong market fundamentals, adding a variety of new hotel options for the Downtown Denver visitor. In the past five years, nine hotels with a total of 1,800 rooms were added to the downtown market and four hotels are currently under construction.

A strong visitor base contributes to the center city’s strong economy and is a vital component of the vibrancy that comes when employees, residents, and visitors share in the unique experiences and amenities that can only be found in Downtown Denver.

DOWNTOWN DENVER AS A TOURISM DESTINATION

Premier hotels, award-winning restaurants and unique experiences, alongside a new direct rail connection to Denver International Airport, make Downtown Denver a world-class destination.

+

2322 TOURISM + ATTRACTIONS

P R O D U C E D B Y T H E D O W N T O W N D E N V E R P A R T N E R S H I P | D O W N T O W N D E N V E R . C O M Photo Credit: Larry Lazslo

DOWNTOWN DENVER MANAGEMENTCHAIRMAN 2016-2017Walter Isenberg, Sage Hospitality*

* Downtown Denver Partnership Management Group Member

DOWNTOWN DENVER INC.BOARD OF DIRECTORS 2016-2017

Board OfficersRob Cohen, The IMA Financial Group, Inc., Chairman*Travis Webb, BKD CPAs & Advisors, Vice Chairman*Lori Davis, Grant Thornton, Secretary*

MembersJim Basey, Centennial BankMike Bearup, KPMG LLPMolly Broeren, Molly’s of Denver Cedric Buchanon, BBVA Compass Terrance Carroll, Butler Snow LLPChris Castilian, Great Outdoors ColoradoStephen Clark, S. B. Clark Companies Mark Cornetta, 9NEWSDana Crawford, Urban Neighborhoods, Inc.David Eves, Public Service Company, an Xcel CompanyCole Finegan, Hogan Lovells US LLP Dorit Fischer, NAI Shames MakovskyBob Flynn, Crestone Partners, LLC Mark Goodman, Colorado Nut Company Jim GreinerTom Grimshaw, Spencer Fane & Grimshaw, LLPErik Hagevik, Holland Partners GroupTodd Hartman, Callahan Capital PropertiesScott Heimes, SendGridMichael Hobbs, Guaranty Bank and Trust CompanyJim Holder, CignaKathy Holmes, Holmes Consulting Group Vernon Irvin, CenturyLinkWalter Isenberg, Sage Hospitality*Bruce James, Brownstein Hyatt Farber Schreck LLP*Chris Jensen, JP Morgan ChaseCatherine (Katy) Jones-Metelko, Wells FargoSteve Katich, J.E. Dunn Construction Co. Kevin Kelley, Husch Blackwell LLP* David Kenney, The Kenney GroupDick Kirk, Richard A. Kirk & Associates Gail Klapper, Colorado ForumKim Koehn, K2 Ventures, LLCTom Lee, Newmark Grubb Knight Frank Harry T. Lewis, Lewis Investments Laura Love, Groundfloor MediaLee Mayer, HavenlyChad McWhinney, McWhinneyKaryn Miller, CraftsyJohn Moye, Moye White LLPKatherine Ott, SlimGenics, LLCSusan Powers, Urban Ventures LLC* Gary Reiff, Black Creek GroupJon Robinson, UMBMaja Rosenquist, Mortenson Construction* Marc Spritzer, Revenue Growth Group, LLCGeorge Thorn, Mile High Development Rick Tucker, Hensel PhelpsEllen Valde, PricewaterhouseCoopersTracy Winchester, Five Points Business DistrictDavid WollardMike Zoellner, RedPeak Properties*

DOWNTOWN DENVER BUSINESS IMPROVEMENT DISTRICT BOARD OF DIRECTORS 2016 Jon Buerge, Urban Villages Inc., ChairDavid Kaufman, 910 Associates, Inc., Vice ChairGina Guarascio, Jones Lang LaSalle, TreasurerAustin Kane, Unico Properties LLC, SecretaryDorit Fischer, NAI Shames MakovskyRick Kron, Spencer Fane LLP, Legal AdvisorSandrena B. Robinson, Jones Lang LaSalleBahman Shafa, Focus Property Group

GRAPHIC DESIGNDerek Berardi | www.derekberardi.com

DENVER CIVIC VENTURESBOARD OF DIRECTORS 2016-2017

Board OfficersTrinidad Rodriguez, D.A. Davidson & Co., Chairman*Sarah Rockwell, Kaplan Kirsch Rockwell LLP, Vice Chairman*Amy Hansen, Polsinelli, Secretary*

MembersLaura Aldrete, Denver International AirportBruce Alexander, Vectra Bank Colorado John Beeble, Beeble Company Ray Bellucci, TIAAFerd Belz, L.C. Fulenwider, Inc.Brianna Borin, Snooze: an AM Eatery Sarah Semple Brown, Semple Brown Design Frank Cannon, Continuum Partners, LLC Gene Commander, Gene Commander, Inc. Chris Crosby, The Nichols Partnership* Greg Feasel, Colorado Rockies Baseball Club Patty Fontneau, CignaChris Frampton, East West PartnersDr. Everette Freeman, Community College of DenverJerry Glick, Columbia Group LLLPTom Gougeon, Gates Family Foundation* Beth Gruitch, RiojaIsmael Guerrero, Denver Housing Authority*Tim Harlin, Denver HealthJim Hearty, DaVita Healthcare Partners Inc. Rus HeiseDoug Hock, Encana CorporationDon Hunt, Antero ResourcesJennifer Johnson, HKS ArchitectsJim Johnson, Johnson Nathan StroheDr. Stephen Jordan, Metropolitan State University of DenverChris King, DPC Development CompanyKatie Kramer, Boettcher FoundationGreg Leonard, Hyatt Regency DenverAdam Lerner, Museum of Contemporary Art DenverTraci Lounsbury, Workplace ELEMENTSRoland Lyon, Kaiser Foundation Health Plan of ColoradoEvan Makovsky, NAI Shames Makovsky* Pat McHenry, City Street InvestorsBill Mosher, Trammell Crow Company*Cindy Parsons, ComcastAdam Sands, First BankGloria Schoch, MillerCoors Mark Sidell, Gart PropertiesDavid Sternberg, Brookfield Office Properties Mark Stiebeling, Grand Hyatt DenverFrank TerrasiJean Townsend, Coley Forrest, Inc.Meg VanderLaanJoe Vostrejs, City Street Investors*Elbra Wedgeworth, Denver HealthWendy Williams, Vector Property Services, LLC

CONTACT INFORMATIONFor details about this report or to request additional information about Downtown Denver, please contact:

Emily BrettEconomic Development ManagerDowntown Denver [email protected]

INFORMATION SOURCES2007 Downtown Area Plan, Airports Council International, Auraria Higher Education Campus, B-Cycle, City and County of Denver, Colorado Comps, Colorado Convention Center, Colorado Department of Labor and Employment, Quarterly Census of Employment and Wages, Colorado State University, Community College of Denver, CoStar, Denver Business Journal, Denver Infill, Denver International Airport, Denver Metro Apartment Vacancy and Rent Survey, Denver Post, Development Research Partners, Downtown Denver Partnership, Emily Griffith Technical College, Headlight Data, Metro Denver Economic Development Council, Metro State University of Denver, Nielsen Segmentation and Market Solutions, Rocky Mountain Lodging Report, RTD, U.S. BLS Current Employment Statistics, U.S. Census Bureau, University of Colorado Denver, VISIT DENVER, walkscore.com


DENVER’S CENTER CITY IS A POWERFUL ECONOMIC ENGINE FOR THE REGION AND THE PARTNERSHIP WILL CONTINUE TO PLAY A SIGNIFICANT ROLE IN SUSTAINING THIS DYNAMIC MOMENTUM.”W A L T E R I S E N B E R G

“

Partnership Board Chair and Co-Founder, President & CEO, Sage Hospitality

PUBLISHED IN APRIL 2017 BY: Downtown Denver Partnership

1515 Arapahoe St.

Denver, CO 80202

303-534-6161

LEARN MORE: www.DowntownDenver.com

@DENPartnership @DowntownDenver

Downtown_Denver

/DowntownDen

For more than 60 years, the Downtown Denver Partnership has convened, collaborated and led a powerful vision to build Downtown Denver as the premier economic hub of the region. Guided by the 2007 Downtown Area Plan, the Partnership is a fast-moving, forward-thinking business organization that represents the visionary corporations that have brought Denver to where it is today and the cutting-edge concepts that will shape the city’s future.

A great city is always growing and always improving. By driving forward the important initiatives, programs, events, and activation to foster its evolution, the Downtown Denver Partnership is building one of the most economically powerful center cities in the country.

ABOUT THE DOWNTOWN DENVER PARTNERSHIP


3X $2.8B under construction or planned 66% Bachelor’s ... · rankings downtown denver’s strategic vision. development + investment office market + employers. workforce residents.

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