State of Downtown Denver Report

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$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.

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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

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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.

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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

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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

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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.

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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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17



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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19

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
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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23

$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

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