$2.5
24
BILLION
TOTAL INVESTMENT IN DOWNTOWN DENVER
THROUGH DEVELOPMENTS UNDER
CONSTRUCTION AND PLANNED
COMPANIES THAT HAVE RELOCATED TO
OR EXPANDED IN DOWNTOWN DENVER
OVER PAST 24 MONTHS
@
STATE OF DOWNTOWN
88
DENVER
2016
TOTAL MILES OF RAIL
CONNECTED TO DOWNTOWN
DENVER BY END OF 2016
13.2%
EMPLOYMENT GROWTH IN
DOWNTOWN DENVER SINCE 2010
P R O D U C E D
Downtown Denver
Partnership, Inc.
B Y
3X
DOWNTOWN’S RESIDENTIAL
POPULATION HAS ALMOST
TRIPLED SINCE 2000
TABLE OF CONTENTS
1
3
>
INTRODUCTION
RANKINGS
4-5
DOWNTOWN DENVER’S STRATEGIC VISION
6-7
DEVELOPMENT + INVESTMENT
8-9
OFFICE MARKET + EMPLOYERS
10-11
WORKFORCE
12-13
STUDENTS + UNIVERSITIES
14-15
RESIDENTS
16-17
RETAIL + RESTAURANTS
18-19
MOBILITY
20-21
PUBLIC SPACE + ACTIVATION
22-23
TOURISM + ATTRACTIONS
25
ACKNOWLEDGEMENTS
>
INTRODUCTION
Downtown Denver is thriving. With strong economic growth and a dynamic energy, it’s a place where
people want to live and work. As a result, it’s a place where companies want to locate.
Population and employment growth in Downtown Denver is among the strongest in the country, with
Downtown’s residential population almost tripling since 2000 and total employment at a record high.
Forbes crowned Denver as the best place for business and careers and U.S. News and World Report
declared Denver the best place to live in the country.
In the past 24 months alone, 24 companies have relocated their headquarters or expanded into
Downtown Denver. A hub of entrepreneurship and innovation, hundreds of new companies are also
founding and growing their businesses here, employing thousands of people and raising hundreds of
millions of capital.
The Downtown Denver Partnership’s intentional place-based economic development approach has
helped create this powerful economic engine for the city, state and region. Innovative, results-driven
strategies have ensured Downtown Denver is an economically healthy, growing, and vital center city.
This year’s State of Downtown Denver details the growth, investment, and transformation by
innovators, city-builders and place-makers. We encourage you to join them by leveraging the
information in this report to encourage continued investment in Downtown Denver.
WANT EVEN MORE?
• Become a Member: Email
[email protected]
• Engage: Facebook (Downtown Denver), Twitter (DENPartnership and DowntownDenver), Instagram (Downtown_Denver)
• Learn More: www.downtowndenver.com
2
3
RANKINGS
housing market
place for business
of 2016
and careers
1ST Best
1ST Best place to live 1ST Hottest
recessionmetro area for economic
city in the country
recovered city
& job growth
to find a job
1ST Best
2ND Best
3RD Easiest
Best city for
Best U.S. city to become
Best city for young
3RD technology jobs
4TH entrepreneurs 4TH an entrepreneur
- Forbes
- U.S. News and World Report
- Area Development
- Forbes
- WalletHub
- Simply Hired
- Investopedia
- NerdWallet
3rd Best city for college graduates
4th Top emerging technology center
4th Best market for STEM professionals
4th Highest increase in new housing
- Rent.com
4th Most bikeable city in the U.S.
5th Most startup activity
6th Best U.S. city for foodies in 2015
6th Most active city
- Walkscore
- Kauffman Index
- JLL
- WalletHub
- Freddie Mac
&
- Zillow
- Nerdwallet
- BetterDoctor
2ND Most improved unemployment rate over the past ten years - Headlight • 3RD Highest percentage of adult population with full-time
employment - Gallup • 3RD Most dog-friendly city - SmartAsset • 8TH Most future-ready city in the country - Dell • 6TH Best city
for IT professionals - InformationWeek • 3RD Lowest number of homes with negative equity - Zillow • 6TH Hottest commercial real
estate market - Urban Land Institute • 1ST Best city to live in the West - Money Magazine • 2ND Highest number of construction jobs
added - Associated General Contractors • 7TH Best city for sports travel - SeatGeek and Hotels.com • 1ST Best beer city in America CNN • 3RD Best city for retirees - Bankers Life Center for a Secure Retirement • 6TH Best city for green office space - National Green
Building Adoption Index • 6TH Largest share of rich millennials - Zillow • 1ST Best place to be a real estate agent - WalletHub
4
DOWNTOWN DENVER’S STRATEGIC VISION
The Downtown Denver Partnership aligns the commitment of public and private sector leaders to create and
implement the strategic vision for a world-class center city.
Downtown Area Plan:
The 2007 Downtown Area Plan set forth a vision to make Downtown Denver one of the most livable places in the world.
Downtown Denver’s public and private sector leaders are actively working to implement the plan and are committed to
bringing the plan to fruition. The vision elements and accompanying strategies guiding Downtown Denver are:
Prosperous
Walkable
Diverse
Distinctive
Green
• The Downtown
• An Outstanding
Pedestrian
Environment
• Downtown Living
• District Evolution
• A Family-Friendly
Place
• Building on Transit
• Connecting
Auraria
• An Outdoor
Downtown
•
Embracing Adjacent
Neighborhoods
•
Downtown’s New
Neighborhood:
Arapahoe Square
of the Rocky
Mountain Region
• Energizing the
Commercial Core
• A Comprehensive
Retail Strategy
• Clean and Safe
• Bicycle City
• Park the Car Once
• Grand Boulevards
• An International
Downtown
• A Rejuvenated
Civic Center
• Sustainable Use
of Resources
Major Downtown Planning Initiatives:
The Mall Experience: The Future of Denver’s 16th Street Mall
The City and County of Denver and the Downtown Denver Partnership are working with Gehl
Studio, a global leader in people-centered urban design, with the goal of bringing more people
to the Mall more often and having them stay longer. To achieve that, we’re studying Mall activity
and conducting public outreach to identify ways to help the Mall reach its full potential as a
welcoming place for everyone, and the heart of a vibrant downtown.
The Outdoor Downtown: The Future of Denver’s Parks and Public Spaces
Denver Parks & Recreation and the Downtown Denver Partnership are collaborating to create
an innovative master plan for Downtown Denver’s outdoor spaces. The 20-year plan will focus
on investment in Downtown’s parks and public spaces to enhance the quality of life, and create a
sustainable, vibrant downtown that is economically healthy and growing.
The Next Stage: The Future of Denver’s Performing Arts Complex
Denver Arts & Venues, in partnership with other City agencies and the community, including the
Downtown Denver Partnership, has announced its vision for the future of the Denver Performing
Arts Complex. The vision includes facilities and activities that support music, youth education
and the further development of the neighborhood to contribute to a diverse, vibrant and
economically thriving Downtown.
PROD UC E D BY TH E D OWN TOWN D E N V E R PA RT N E R SHI P | DOW NTOW NDE NV E R .C OM
5
Boundaries
This report uses two geographic definitions as shown on the map below. Downtown Denver refers to the core of
Downtown Denver as set forth by the 2007 Downtown Area Plan. The Center City Neighborhood boundary includes
Downtown Denver and its surrounding residential neighborhoods. While not used in this report, the map below
shows the boundary of the Downtown Denver Business Improvement District, a public organization funded by private
commercial property owners. The 120 block District provides a clean, safe and
vibrant downtown environment for workers, residents and visitors.
38
COMMERCIAL
CORE
Sources: Downtown Denver Partnership, 2007 Downtown Area Plan, City and County of Denver
HUMBOLDT ST
GILPIN ST
WILLIAMS ST
WILLIAMS ST
WILLIAMS ST
E 13TH A
WILLIA
E 6TH AVE
E 18TH
GILPIN ST
E 8TH AVE
HUMBOLDT ST
MARION ST
VD
BL
BUSINESS IMPROVEMENT
DISTRICT BOUNDARY
SANTA FE DR
W 8TH AVE
GOLDEN
TRIANGLE
GRANT ST
ER
W
BROADWAY
PE
Lincoln
Park
W COLFAX AVE
Civic
Center
Park
ES
Rude
Park
FRANKLIN ST
E 17TH
HUMBOLDT ST
AURARIA
CULTURAL
CORE
GILPIN ST
E 19TH
W COLFAX AVE
DOWNTOWN DENVER
BOUNDARY
MARION ST
20TH AVE
FRANKLIN ST
CENTRAL
PLATTE VALLEY
AURARIA
LINCOLN ST
SPORTS
AUTHORITY
FIELD
ARAPAHOE
SQUARE
M
AL
L
PEPSI
CENTER
FRANKLIN ST
GILPIN ST
Gates
Crescent
Park
LODO
ST
E3
E 30TH AVE
E 29TH AVE
DOWNING ST
TH
MA
E 24TH AVE
DOWNING ST
MARION ST
Co
m
Pa m o
rk ns
C
Gaente
rd nn
en ia
s l
E
AV
16
Jefferson
Park
E 35TH A
E 34TH
E 25TH AVE
RK
FEDERAL BLVD
BALLPARK
PA
ER
PE
CENTER CITY
NEIGHBORHOOD BOUNDARY
CH
ER
NV ON N
DE UNI TIO
A
ST
S
ST
AM
CENTRAL
PLATTE VALLEY
COMMONS
H
25
PA
T
20
P
PROSPECT
ST
E 36TH
GILPIN ST
E
E
TT
LA
NS
PE
ER
ST
BL
AK
TH
30
ST
BR
City of
Cuernavaca
Park
E 37TH A
HUMBOLDT ST
IG
H
TO
PECOS ST
ZUNI ST
BOUNDARIES
N
BL
VD
MARION ST
38TH AVE
LAFAYETTE ST
DOWNTOWN
ST
LAFAYETTE ST
TH
6
DEVELOPMENT + INVESTMENT
Developers are responding to increased demand for residential housing, office space and hotel rooms in Downtown
Denver propelled by strong population and job growth, as well as key public-sector investments.
15 development projects were completed in
Downtown Denver in 2015, representing:
• $634,700,000 of investment
Increasing Investment in Downtown Denver
$3.0B
$2.5B
$2.25B
• 511 additional hotel rooms
• 1,901 additional residential units
• 333,000 additional square feet of office space
As of mid-2016, there are 18 projects under
construction and 14 projects planned
for development in Downtown Denver,
representing:
$1.50B
$750M
2008
2009
2010
2011
2012
2013
2014
2015
Future
Variety of Project Types
• $2,471,940,000 of investment
• 1,230 additional hotel rooms
• 4,592 additional residential units
• 2,770,300 additional square feet of office space
0%
25%
Residential
Mixed-Use
Office
PROD UC E D BY TH E D OWN TOWN D E N V E R PA RT N E R SHI P | DOW NTOW NDE NV E R .C OM
50%
75%
Government + Academic Institutions
Hotel
Entertainment + Culture
Transportation + Public Realm
100%
DEVELOPMENT BY DISTRICT SINCE 2010
7
$464,200,000
INVESTMENT
800 UNITS
150
ROOMS
HOTEL
HOTEL
HOTEL
376
UNITS
Arapahoe Square
Auraria
Ballpark
TOTAL INVESTMENT: $205 Million
TOTAL COMPLETED PROJECTS: 5
TOTAL FUTURE PROJECTS: 3
TOTAL INVESTMENT: $509 Million
TOTAL COMPLETED PROJECTS: 7
TOTAL FUTURE PROJECTS: 3
TOTAL INVESTMENT: $75 Million
TOTAL COMPLETED PROJECTS: 2
TOTAL FUTURE PROJECTS: 0
3,625 UNITS
LEGEND
2,116,500
SQUARE FEET
TOTAL HOTEL TOTAL RESIDENTIAL TOTAL SQUARE FEET DOLLARS INVESTED
ROOMS ADDED UNITS ADDED
OF OFFICE ADDED IN MAJOR PROJECTS
HOTEL
2,087
ROOMS
HOTEL
1,093,000
SQUARE FEET
HOTEL
$697,200,000
INVESTED
RESIDENTIAL COMMERCIAL
PROJECT TOTALS
CIVIC
NO OR INSIGNIFICANT DEVELOPMENT
Totals include projects completed since 2010 and projects
under construction/planned as of May 2016
946
UNITS
$46,630,000
INVESTED
346
ROOMS
380
ROOMS
HOTEL
HOTEL
Commercial Core
CPV Commons
Cultural Core
TOTAL INVESTMENT: $1.38 Billion
TOTAL COMPLETED PROJECTS: 11
TOTAL FUTURE PROJECTS: 6
TOTAL INVESTMENT: $1.45 Billion
TOTAL COMPLETED PROJECTS: 11
TOTAL FUTURE PROJECTS: 9
TOTAL INVESTMENT: $766 Million
TOTAL COMPLETED PROJECTS: 8
TOTAL FUTURE PROJECTS: 1
970,800
SQUARE FEET
$479,800,000
INVESTED
1,044
UNITS
$169,000,000
INVESTED
129,833
SQUARE FEET
482
ROOMS
883
UNITS
HOTEL
HOTEL
HOTEL
165
ROOMS
901
UNITS
Golden Triangle
LoDo
Prospect
TOTAL INVESTMENT: $446 Million
TOTAL COMPLETED PROJECTS: 9
TOTAL FUTURE PROJECTS: 3
TOTAL INVESTMENT: $1.26 Billion
TOTAL COMPLETED PROJECTS: 6
TOTAL FUTURE PROJECTS: 6
TOTAL INVESTMENT: $177 Million
TOTAL COMPLETED PROJECTS: 2
TOTAL FUTURE PROJECTS: 1
Sources: Downtown Denver Partnership - For boundaries please contact the Downtown Denver Partnership.
OFFICE MARKET + EMPLOYERS
Downtown Denver is an ideal place to start or grow a business. An increasing number of companies are locating in
Downtown Denver resulting in strong office market fundamentals.
• Downtown Denver has a total of 36,151,490
square feet of office space.
Downtown Denver Office Market Trends
• Despite the addition of over 1 million square
feet of office space in the past three years, the
direct vacancy rate for the Downtown Denver
office market is 9.5% as of the fourth quarter
2015. The direct average lease rate is $33.14/sf
and total net absorption for 2015 was 469,427.
14%
Direct Vacancy and Lease Rates
9.5% direct vacancy rate
$33.14/SF direct average lease rate
469,427SF total net absorption
$35
$30
12%
11%
9.5% $25
10%
$20
9%
$15
Vacancy Rate
4Q15
3Q15
2Q15
1Q15
4Q14
3Q14
2Q14
1Q14
4Q13
3Q13
2Q13
1Q13
4Q12
3Q12
2Q12
1Q12
4Q11
3Q11
8%
2Q11
• As of the beginning of 2016, there is 1,623,000
square feet of office space under construction
and 1,147,300 square feet of office space
planned for development.
$33.14
13%
1Q11
8
Avg. Lease Rate (per sf )
TOP 20 DOWNTOWN DENVER EMPLOYERS*:
(4Q15)
(4Q15)
(2015)
Accenture
ALPs Fund Services
Anadarko Petroleum
Anthem Blue Cross Blue Shield
CenturyLink
Comcast
DaVita HealthCare Partners Inc.
Deloitte LLP
Denver Post
Encana
Gates Corporation
Hyatt Regency Hotel at the Colorado
Convention Center
KPMG LLP
Mortenson Construction
Sheraton
TIAA
Transamerica Investments
& Retirement
US Bank
Wells Fargo
Xcel Energy
* List includes only private sector, for-profit employers
A STRONG CULTURE OF ENTREPRENEURSHIP AND INNOVATION
Downtown Denver is committed to supporting and growing a thriving culture of innovation and
entrepreneurship. 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 do so in Downtown Denver. These
resources include Denver Startup Week, the largest free entrepreneurial event in North America with over
10,000 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.
Now more than ever, the entrepreneurial spirit in Denver is alive and well, surging through Downtown
Denver at an unprecedented rate. Over 600 startups are located in the Center City, employing 4,359 people
and raising hundreds of millions of dollars of capital. 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.
PROD UC E D BY TH E D OWN TOWN D E N V E R PA RT N E R SHI P | DOW NTOW NDE NV E R .C OM
9
DOWNTOWN DENVER IS ATTRACTING CORPORATE EXPANSIONS AND RELOCATIONS
x2
x2
x7
UK
United Wind
Warren Resources
Remote-Learner
x2
FiveStars
Granicus
Gusto
JobAdder.com
Pensco Trust Co.
PipelineRx
Sunrun
Layer3 TV
Spencer Ogden
WorldRemit
Microgrid Energy
World Wide Technology Inc.
Kirkpatrick Bank
Poetic Systems
Map includes relocations and expansions announced
between April 2014 and April 2016
Additional Downtown Denver relocations,
expansions, and new offices:
· DISH Network
· HomeAdvisor
· Transamerica Corp.
· Liberty Global
· MicroStar Logistics
· Prologis
· Zayo Group
Significant expansions have also been
announced by existing Downtown Denver
companies, including:
· Comcast
· DaVita
· KPMG
· TIAA
“
DENVER IS A VIBRANT, GROWING
CITY WHERE WE ARE EXCITED TO
EXPAND OUR FOOTPRINT.
JOSH REEVES
Gusto,
CEO and Co-founder
Sources: CoStar, Downtown Denver Partnership, Metro Denver Economic Development Council, Denver Post, Denver Business Journal, Development Research Partners
10
9
WORKFORCE
More people are working in Downtown Denver than ever before, and the highly-educated workforce
continues to grow and thrive in the center city’s urban, amenity-rich environment.
• Employment in Downtown Denver is increasing at a faster rate than U.S. employment. From 2010 to 2015, employment
in Downtown Denver has increased 13.2%, while employment nation-wide has increased by 8.5%.
• Businesses located in Downtown Denver have access to a highly-educated and growing labor pool. Over 40% of the
Denver Metro area residents have Bachelor’s Degree or higher. This makes Denver the seventh most educated metro
area in the country. In the past five years, Denver has seen the fourth highest increase in educated residents in the
country.
• Downtown Denver is the home to many of the region’s leading coding schools and bootcamps, including Galvanize,
General Assembly, Secure Set, Skill Distillery and the Turing School of Software & Design.
ANDRE DURAND
124 K
122 K
120 K
118 K
116 K
114 K
112 K
110 K
108 K
PROD UC E D BY TH E D OWN TOWN D E N V E R PA RT N E R SHI P | DOW NTOW NDE NV E R .C OM
2015
2014
2013
2012
2011
2010
Ping Identity,
Chairman and CEO
2009
“
THE HIGHLY EDUCATE WORKFORCE
COMING TO DENVER HELPS COMPANIES
LIKE OURS GROW OUR BUSINESS AND
CULTIVATE GREAT TALENT.
123,548
Employment Growth in Downtown Denver
11
EMPLOYMENT BY SECTOR IN METRO DENVER & DOWNTOWN DENVER
DOWNTOWN DENVER
30%
31.4%
METRO DENVER
18.5%
The Professional and Business
Services sector employs the most
people in both Downtown Denver
and the Metro Denver region.
25%
20%
DOWNTOWN DENVER
METRO DENVER
15%
10%
Sources:
MANUFACTURING
TRANSP., WAREHOUSING
& UTILITIES
OTHER SERVICES
EDUCATION &
HEALTH SERVICES
INFORMATION
WHOLESALE &
RETAIL TRADE
NATURAL RESOURCES
& CONSTRUCTION
FINANCIAL ACTIVITIES
LEISURE & HOSPITALITY
GOVERNMENT
PROFESSIONAL &
BUSINESS SERVICES
5%
Colorado Department of Labor and Employment Quarterly Census of Employment and Wages (Q2 2015 data), Development Research Partners, Headlight
Data analysis of ACS data, U.S. Census Bureau (ACS data), U.S. BLS Current Employment Statistics
12
STUDENTS + UNIVERSITIES
The plethora of educational opportunities in Downtown Denver, from traditional universities to coding bootcamps,
contribute to a highly-educated workforce and help ensure businesses are able to recruit qualified employees.
• Over 54,000 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.
Institution
Enrollment
Metro State University of Denver
21,196
University of Colorado Denver
18,417
Community College of Denver
10,294
Colorado State University Executive MBA Program
Emily Griffith Technical College
TOTAL
32
4,101
54,040
• In the past year, a variety of projects have advanced the goal of improved connections between the Auraria Campus
and Downtown Denver, including enhanced, brick-like crosswalks on Speer at Larimer and Lawrence Streets and the
creation of a more pedestrian-friendly crossing at Colfax and Lipan.
• The three institutions 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. Currently under
construction, the Metro State University of Denver’s Aerospace and Engineering Sciences Building will educate
students with innovative programs to meet job needs in aviation, aerospace, and advanced manufacturing. The CU
Denver Wellness Center, a new 85,000sf building on Speer Blvd., will provide students with commuter services, fitness
classes, a climbing wall and a lap pool when completed in 2018. The Community College of Denver recently opened a
33,280sf Advanced Manufacturing Center offering degree and certificate programs in high-demand areas, including
machining and welding. Finally, the four-acre Tivoli Quad creates a new public space for all Auraria Students, as well
as downtown workers, residents and visitors.
Sources: Auraria Higher Education Center, Colorado State University, Community College of Denver, Denver Infill, Emily Griffith Technical College, Metro State University of Denver, University of Colorado Denver
PROD UC E D BY TH E D OWN TOWN D E N V E R PA RT N E R SHI P | DOW NTOW NDE NV E R .C OM
13
14
RESIDENTS
Attracted to vibrant walkable districts and diverse residential amenities, more and more people are choosing to live in
Downtown Denver and its City Center neighborhoods.
• 75,972 people live in Downtown Denver and the
Center City Neighborhoods
• Downtown Denver’s projected growth rate in the
next five years is 12.6%, compared to the U.S.
projected growth rate of 3.7%.
• The city of Denver is one of the fastest growing
cities in the U.S. with 682,545 residents. Since 2010,
Denver has added an average of almost 16,000
residents per year, resulting in a population increase
of over 13% in the past five years.
• 4,592 residential units are under construction or
planned for development in Downtown Denver.
• Downtown has the highest walk, bike and transit
scores in Denver.
•
As of early 2016, the average rent for a one-bedroom
apartment in Downtown Denver was $1,584 and the
average rent for a studio apartment was $1,210.
Downtown Denver’s Expanding Residential Population
2015 Residential Real Estate Market
Total Homes Sold
Average Sales Price
Average Price/SF
Downtown
Denver*
Center
City*
Metro
Denver*
561
1,562
61,439
$513,790
$414,144
$351,619
$418
$362
$216
* Condominiums/townhomes and detached single-family homes combined
179%
Downtown
Denver
Center City
Neighborhoods
City of Denver
United States
36%
15% 4%
215% | 2000-2021
Growth Rate
50% | 2000-2021
35% | 2000-2021
10%
24% 9%
13%
Growth Rate
Growth Rate
19% | 2000-2021
Growth Rate
Growth Rate 2000-2016
Projected Growth Rate 2016-2021
GROWING AMENITIES TO SUPPORT A GROWING POPULATION
High-quality amenities are central to Downtown Denver’s transition to a 24/7 city. In August 2015, King
Soopers opened Downtown’s first full-service grocery store offering 47,000sf of expanded fresh and
prepared food offerings tailored to its urban neighborhood. A new 56,000sf Whole Foods flagship store is
also under construction with a planned opening in 2017. Downtown Denver’s newest elementary school, the
Downtown Denver Expeditionary School, is thriving with record enrollment and the charter has been secured
for the Downtown Denver Expeditionary Middle School.
PROD UC E D BY TH E D OWN TOWN D E N V E R PA RT N E R SHI P | DOW NTOW NDE NV E R .C OM
15
DEMOGRAPHICS
downtown denver
population
center city neighborhoods*
*estimate/projection
educational attainment
2000
Doctorate Degree
2 % 2%
Bachelor’s Degree 40% 38%
55,709
7,108
Professional School Degree
2010
14,844
63,297
6% 4%
Master’s Degree 17% 14%
2016*
19,854
75,972
2021*
22,357
83,817
*34.3
F 45%
M 55%
81% 7% 5% 4% 3%
71% 16% 7% 3% 3%
WHITE
HISPANIC
BLACK
ASIAN
OTHER
F 43%
M 57%
WHITE
HISPANIC
BLACK
ASIAN
OTHER
race / ethnicity
age & gender
*33.6
years
years
*median age
households
family vs. non-family households
18%
82%
22%
78%
owner vs. renter occupied households
12,702
27%
$100,825
73%
27%
73%
median owner-occupied housing value
average household income
$76,914
$472,079
45,344
average household size
1.4
$365,742
households with no vehicles
1.6
21.4%
21.0%
* center city neighborhood boundary revised in 2015
Sources: Nielsen Segmentation and Market Solutions, walkscore.com, U.S. Census Bureau, Downtown Denver Partnership, Denver Metro Apartment Vacancy and Rent Survey, Colorado Comps
RETAIL + RESTAURANTS
Downtown Denver’s residential renaissance is encouraging retail development, including first-to-market
and new-to-downtown options that create a diverse retail scene with something for everyone.
• The retail market in Downtown Denver continues to strengthen and evolve. Uniqlo will open a 23,000sf flagship store,
only their second non-coastal location, at the Denver Pavilions in fall of 2016. Other new additions include one of
the few H&M Home locations in the country, an expanded Victoria’s Secret, as well as a number of new restaurants
along the 16th Street Mall. New retail spaces are planned for both the Dairy Block and the Market Street Station
redevelopment projects that will add over 130,000sf of new space to the Downtown submarket.
• Local, independent boutiques and chef-driven restaurants find success in Downtown Denver in addition to well-known
international brands. 53% of businesses located on the 16th Street Mall are local businesses or local chains, and retail
destinations like Larimer Square and Union Station are filled with unique, independent options.
• Businesses along the 16th Street Mall accounted for 36% of the total sales tax collected in Downtown Denver in 2015.
• Downtown Denver has 3,388,042sf of retail space with a 5.4% vacancy rate and a direct average lease rate of $22.53/sf.
•
Average Household Income in Downtown Denver is $100,825, a 32% increase since 2013.
TOP THREE MONTHS FOR RETAIL SALES
1ST
DECEMBER
2ND
Rising Retail Sales Tax Collections in
Downtown Denver
SEPTEMBER
$45
MILLION
3RD
JUNE
Restaurants Represent Almost Half of
Downtown’s Sales Tax Collections 10%
4%
other
manufacturing
$45 M
$40 M
4%
$35 M
motor vehicles +
auto parts
$30 M
5%
$25 M
$20 M
miscellaneous
stores
$15 M
$10 M
6%
$5 M
clothing +
accessory stores
2015
2014
2013
2012
2011
2010
2009
2008
2007
49%
2006
16
restaurants
22%
hotel + other
accommodation services
Sources: City and County of Denver, Downtown Denver Partnership, CoStar, Nielsen Segmentation and Market Solutions
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“
DOWNTOWN DENVER IS HAVING A
REJUVENATION THAT WE WANT TO
BE PART OF.
LARRY MEYER
Uniqlo USA
CEO
18
MOBILITY
Multimodal transportation options – including rail, bus, bike lanes, and shared transportation services – converge in
Downtown Denver to provide seamless and convenient access for commuters, residents, and visitors alike.
• Commuting habits for Downtown
Denver employees change with age.
Younger commuters travel shorter
distances and are more likely to
walk and bike to work. Transit use
increases with age and driving alone
peaks when commuters are in their
30s and 40s, especially for women.
HOW DOWNTOWN DENVER EMPLOYEES COMMUTE TO WORK
Nearly 60% use transit, walk, bike, or share the ride to Downtown Denver
Used transit
40.6%
Drove alone
38.5%
• Males and females have different
commuting habits. Male commuters
are significantly more likely to bike
to work, more likely to walk to work,
and less likely to drive alone than
female commuters.
Bicycled
•
In 2016, Denver’s Regional
Transportation District (RTD)
will double the miles of rail in
their system with the opening of
four new rail lines, including the
University of Colorado A Line which
provides quick and easy access
from Downtown Denver to Denver
International Airport.
5.2%
6.5%
Walked
5.6%
Carpooled
Teleworked
2.2%
Motorbiked
1.1%
Vanpooled
0.2%
Sources: Downtown Denver Partnership, RTD, City and County of Denver, B-Cycle
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MOBILITY OPTIONS IN DOWNTOWN DENVER
PARKING
P
42,000 OFF STREET
5,000 ON STREET
PEDAL CABS
RTD FREE SHUTTLES
353 LICENSED PEDAL
CAB DRIVERS
RTD FREE MALLRIDE (14,000,000 ANNUAL
PASSENGERS) + RTD FREE METRORIDE
(586,500 ANNUAL PASSENGERS)
ECOPASS
55,000 ELIGIBLE
EMPLOYEES AT 360
COMPANIES
ON-DEMAND RIDES
BIKE
INCLUDING SERVICES SUCH AS
UBER, LYFT AND TAXIS
18.7 MILES OF BIKE LANES AND TRAILS
+ 3 PROTECTED BIKE LANES
BIKESHARE
RAIL
B
34 B-CYCLE STATIONS THROUGHOUT
DOWNTOWN DENVER
7 RTD RAIL LINES SERVING DOWNTOWN
DENVER + 37 MINUTES BY RAIL FROM
DOWNTOWN DENVER TO DIA
BUS
ONLY
BUS
AVERAGE COMMUTER WALKS 9.7
BLOCKS EACH DAY
58 RTD BUS ROUTES SERVING
DOWNTOWN DENVER
ELECTRIC
18 CHARGING STATIONS
IN DOWNTOWN DENVER
walk
CARSHARE
bus rapid transit
OPTIONS INCLUDE CAR2GO, ZIPCAR,
ENTERPRISE CARSHARE, EGO CARSHARE
+ 28 DEDICATED PARKING SPACES
FLATIRON FLYER CONNECTS BOULDER
TO DOWNTOWN DENVER WITH
FREQUENT SERVICE
TRAVEL APPS
• TRANSIT
• GO DENVER
• MY WAY TO GO
20
PUBLIC SPACE + ACTIVATION
Through a series of intentional activation efforts, Downtown Denver inspires people to get up, get out,
and engage with the city on a daily basis.
• Downtown Denver is home to a variety of public spaces, from streets to plazas to parks. There are 172 acres of parks
and open spaces which serve as gathering places for the community.
• Meet in the Street, funded by the Downtown Denver Business Improvement District, transforms the 16th Street Mall
into an active pedestrian environment prime for biking, outdoor cafes, live music and more. In 2015, Meet in the Street
resulted 30% more pedestrian traffic on the Mall, 60% more people spending time in the space, and a 77% increase in
the share of adults to children.
• Downtown Denver takes on a new energy during Winter in the City which welcomed 56,172 skaters to the Southwest
Rink at Skyline Park for its sixth season, and hundreds of thousands of spectators for the 9NEWS Parade of Lights and
New Year’s Eve Fireworks.
“
WYNKOOP PLAZA IS A PREMIER PUBLIC
SPACE LITERALLY ON OUR FRONT STEPS
AND A NATURAL AMENITY FOR OUR
EMPLOYEES.
ROB COHEN
The IMA Financial Group, Inc.
Chairman & CEO
Sources: Downtown Denver Partnership, City and County of Denver
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21
PARK OR
PUBLIC SPACE
DAYS ACTIVATED
IN 2015
16TH STREET MALL
153
183
CIVIC CENTER PARK
SKYLINE PARK BLOCK 1
SKYLINE PARK BLOCK 2
SKYLINE PARK BLOCK 3
WYNKOOP PLAZA
78
250
68
17
EVENT ATTENDANCE
IN 2015 (EST.)
SAMPLE EVENTS
2015
Your Keys to the City
Meet in the Street
MILLIONS
Zombie Crawl
Taste of Colorado
Pride Fest
2,482,000
Civic Center Eats
Movies in Skyline Park
Denver Christkindl Market
221,270
Southwest Rink at Skyline Park
Games at Skyline Park
98,137
+ 1,676
DOGS
2,324
+ 701
KIDS
Pop-up Dog Park
Kid’s Play Area
Farmers’ Market
3,110
Doors Open Denver
BID/DOWNTOWN DENVER PARTNERSHIP-PRODUCED
PARTIAL YEAR
22
TOURISM + ATTRACTIONS
Offering premier hotels, award-winning restaurants and unique experiences, Downtown Denver has
become a world-class destination for regional and international tourists alike.
• Denver tourism has been setting new records in
recent years with over 15 million people visiting the
city each year and spending a total of $4.6 billion
during their time in Denver.
• Downtown Denver is home to 32 hotels with a total
of 9,141 hotel rooms and 526,636 square feet of
meeting space.
• The Colorado Convention Center welcomed over
1 million attendees across 240 events in 2015.
• RevPAR (revenue per available room) for Downtown
Denver hotels is up almost 30% since 2011.
• Developers are taking notice of high occupancy
rates and increasing RevPAR enjoyed by Downtown
Denver hotels. As of spring 2016, four hotels are
under construction and three are planned for
development.
• Downtown Denver is home to many of the most
popular Denver-area attractions for visitors and
residents.
• Award-winning museums in Downtown Denver
include the Denver Art Museum, Clyfford Still
Museum, Denver Museum of Contemporary Art
and History Colorado Center.
• The Denver Performing Arts Complex is the
second-largest performing arts complex in the U.S.
with 10 performance spaces.
• In addition to family-friendly exhibits at Downtown
Denver’s many museums, families can visit the
Children’s Museum of Denver, Elitch Gardens
Theme and Water Park and the Downtown
Aquarium.
•
Major sports venues for Denver’s professional
sports teams are located in Downtown Denver.
Sports fans can attend basketball and hockey
games at the Pepsi Center, baseball games at
Coors Field, and football and lacrosse games at
Sports Authority Field at Mile High.
Major Conventions and Events in Downtown Denver, 2016
Denver Broncos World
Championship Parade and
Celebration
Feb. ‘16
1,000,000
SnowSports Industries America
Jan. ‘16
19,000
Ellucian
April ‘16
10,000
Association for Talent
Development
May ‘16
10,000
NAFSA: Association of
International Education
May ‘16
10,000
Intl. Society for Technology in
Education
June ‘16
20,000
American Psychological
Association
Aug. ‘16
13,000
American Dental Association
Oct. ‘16
20,000
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$180
$170
$160
$150
$140
$130
$120
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 modifications at the Arts
Complex. Differing 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.
Revenue Per Available Room
2015
2014
2013
The Next Stage: A Vision for the Future of
the Denver Performing Arts Complex
2012
$110
2011
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.
$179.45
$190
2009
$139.58
$145
$140
$135
$130
$125
$120
$115
$110
$105
$100
Denver International Airport (DEN)
2011
New commuter rail connection between Downtown
Denver and the airport began April 2016.
2012
2013
A 500-room Westin hotel opened in late 2015.
Downtown Hotel Occupancy
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).
80%
65%
60%
2015
2014
2013
55%
2009
Kimpton Hotel - 199 rooms
Dairy Block Hotel – 170 rooms
Hotel Indigo – 180 rooms
AC Hotels/Le Méridien – 480 rooms
77.80%
2012
The following new hotels are under construction, with
many more projects planned for development:
2015
70%
2011
Expanding Hotel Market in Downtown Denver
2014
75%
2010
CONTINUED INVESTMENTS & GROWTH
A 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.
Average Daily Room Rate
2010
Colorado Convention Center Expansion
Sources: VISIT DENVER, Downtown Denver Partnership, Rocky Mountain Lodging Report, City and County of Denver, Colorado Convention Center, Denver International Airport, Airports Council Int’l
DENVER CIVIC VENTURES
BOARD OF DIRECTORS 2015-2016
DOWNTOWN DENVER INC.
BOARD OF DIRECTORS 2015-2016
Board Officers
Board Officers
Bill Mosher, Trammell Crow Company, Chairman*
Rob Cohen, The IMA Financial Group, Inc., Chairman*
Door, Nicole Dorsey, Bonnie Gross, Jim
Trinidad Rodriguez, D.A. Davidson & Co., Vice Chairman*
Travis Webb, BKD CPAs & Advisors, Vice Chairman*
Kirchheimer, Beth Moyski, Brea Olson,
Sarah Rockwell, Kaplan Kirsch Rockwell LLP, Secretary*
Lori Davis, Grant Thornton, Secretary*
Aneka Patel, Adam Perkins, Brian
Members
Members
Laura Aldrete, Matrix Design Group
Jim Basey, Centennial Bank
Bruce Alexander, Vectra Bank Colorado
Mike Bearup, KPMG LLP
John Beeble, Saunders Construction, Inc.
Molly Broeren, Molly’s of Denver
Ray Bellucci, TIAA
Kristin Bronson, Lewis Roca Rothgerber Christie LLP
Ferd Belz, L.C. Fulenwider, Inc.
Cedric Buchanon, BBVA Compass
Brianna Borin, Snooze: an AM Eatery
Terrance Carroll, SCL Health
Sarah Semple Brown, Semple Brown Design
Chris Castilian, Anadarko Petroleum Corporation
Marvin Buckels
Stephen Clark, S. B. Clark Companies
Frank Cannon, Continuum Partners, LLC
Mark Cornetta, 9NEWS
Gene Commander, Gene Commander, Inc.
Dana Crawford, Urban Neighborhoods, Inc.
Chris Crosby, The Nichols Partnership*
David Eves, Public Service Company, an Xcel Company
Greg Feasel, Colorado Rockies Baseball Club
Cole Finegan, Hogan Lovells US LLP
Patty Fontneau, Cigna
Bob Flynn, Crestone Partners, LLC
Chris Frampton, East West Partners
Mark Goodman, Colorado Nut Company
Dr. Everette Freeman, Community College of Denver
Jim Greiner
Jerry Glick, Columbia Group LLLP
Tom Grimshaw, Spencer Fane & Grimshaw, LLP
Dr. Art Gonzalez, Denver Health
Michael Hobbs, Guaranty Bank and Trust Company
Tom Gougeon, Gates Family Foundation*
Jim Holder, Cigna
Beth Gruitch, Rioja
Kathy Holmes, Holmes Consulting Group
Ismael Guerrero, Denver Housing Authority*
Vernon Irvin, CenturyLink
Amy Hansen, Polsinelli
Walter Isenberg, Sage Hospitality*
Jim Hearty, DaVita Healthcare Partners Inc.
Bruce James, Brownstein Hyatt Farber Schreck LLP*
Rus Heise
Catherine (Katy) Jones-Metelko, Wells Fargo
Doug Hock, Encana Corporation
Steve Katich, J.E. Dunn Construction Co.
Don Hunt, Antero Resources
Kevin Kelley, Husch Blackwell LLP
Jennifer Johnson, HKS Architects
David Kenney, The Kenney Group*
Jim Johnson, Johnson Nathan Strohe
Dick Kirk, Richard A. Kirk & Associates
Dr. Stephen Jordan, Metropolitan State University of Denver
Gail Klapper, Colorado Forum
Greg Leonard, Hyatt Regency Denver at the CO Convention Center
Kim Koehn, K2 Ventures, LLC
Adam Lerner, Museum of Contemporary Art Denver
Tom Lee, Newmark Grubb Knight Frank
Traci Lounsbury, Workforce ELEMENTS
Harry T. Lewis, Lewis Investments
Roland Lyon, Kaiser Foundation Health Plan of Colorado
Laura Love, Groundfloor Media
Evan Makovsky, NAI Shames Makovsky*
Chad McWhinney, McWhinney*
Cindy Parsons, Comcast
Karyn Miller, Craftsy
Adam Sands, First Bank
John Moye, Moye White LLP
Gloria Schoch, MillerCoors
Will Nicholson, Rocky Mountain BankCard Systems, Inc.
Ken Schroeppel, Univ. of CO Denver – College of Arch. & Planning
Katherine Ott, SlimGenics, LLC
Mark Sidell, Gart Properties
Susan Powers, Urban Ventures LLC*
David Sternberg, Brookfield Office Properties
Gary Reiff, Black Creek Group
Mark Stiebeling, Grand Hyatt Denver
Jon Robinson, UMB
Frank Terrasi, PCL Construction
Maja Rosenquist, Mortenson Construction
Jean Townsend, Coley Forrest, Inc.
Kathy Seidel, The Northern Trust Company
David Tryba, Tryba Architects
Marc Spritzer
Meg VanderLaan, MWH Global, Inc.*
George Thorn, Mile High Development
Joe Vostrejs, City Street Investors*
Rick Tucker, Hensel Phelps
Elbra Wedgeworth, Denver Health
Tracy Winchester, Five Points Business District
Wendy Williams, Vector Property Services, LLC
David Wollard
Mike Zoellner, RedPeak Properties*
DOWNTOWN DENVER BUSINESS IMPROVEMENT
DISTRICT BOARD OF DIRECTORS 2016
Gina Guarascio, Jones Lang LaSalle, Chair
Jon Buerge, Urban Villages Inc., Vice Chair
Dorit Fischer, NAI Shames Makovsky, Treasurer
Connie O’Murray, Jones Lang LaSalle, Secretary
Austin Kane, Unico Properties LLC
David Kaufman, 910 Associates, Inc.
Rick Kron, Spencer Fane LLP, Legal Advisor
Bahman Shafa, Focus Property Group
Photo Credit: VISIT DENVER and Evan Semón
* Downtown Denver Partnership Management Group
CONTRIBUTORS AND EDITORS
Emily Brett, Aylene McCallum, Sharon
Alton, Kate Barton, John Desmond, Tami
Phetteplace and Kaylin Tscherpel.
INFORMATION SOURCES
2007 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
GRAPHIC DESIGN
Derek Berardi | www.derekberardi.com
PHOTOGRAPHY
Ryan Dravitz Photography
“
“
GREAT CITIES ARE NOT STATIC,
THEY CONSTANTLY CHANGE
AND TAKE THE WORLD
ALONG WITH THEM.
EDWARD GLAESER
Author
Triumph of the City
Downtown Denver
Partnership, Inc.
Published in May 2016 by:
Downtown Denver Partnership
511 16th Street, Suite 200
Denver, CO 80202
303.534.6161
www.downtowndenver.com
@Downtown_Denver
Downtown Denver
@DowntownDenver