State of Downtown Denver 2016

@

S T A T E O F D O W N T O W N

DENVER2016

EMPLOYMENT GROWTH IN DOWNTOWN DENVER SINCE 2010

13.2%

COMPANIES THAT HAVE RELOCATED TO OR EXPANDED IN DOWNTOWN DENVER OVER PAST 24 MONTHS

24TOTAL INVESTMENT IN DOWNTOWN DENVER THROUGH DEVELOPMENTS UNDER CONSTRUCTION AND PLANNED

$2.5BILLION

TOTAL MILES OF RAIL CONNECTED TO DOWNTOWN DENVER BY END OF 2016

88

DOWNTOWN’S RESIDENTIALPOPULATION HAS ALMOSTTRIPLED SINCE 2000

3X

Downtown DenverPartnership, Inc.

P R O D U C E D B Y

INTRODUCTION

RANKINGS

DOWNTOWN DENVER’S STRATEGIC VISION

DEVELOPMENT + INVESTMENT

OFFICE MARKET + EMPLOYERS

WORKFORCE

STUDENTS + UNIVERSITIES

RESIDENTS

RETAIL + RESTAURANTS

MOBILITY

PUBLIC SPACE + ACTIVATION

TOURISM + ATTRACTIONS

ACKNOWLEDGEMENTS

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4-5

6-7

8-9

10-11

12-13

14-15

16-17

18-19

20-21

22-23

25

TABLE OF CONTENTS>

TABLE OF CONTENTS

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

> INTRODUCTIONDowntown 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.

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RANKINGS1ST1ST3RD

1ST2ND4TH

1ST3RD4TH

Best place for businessand careers - Forbes

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

Best city fortechnology jobs - Simply Hired

Easiest city in the countryto find a job - Forbes

Best metro area for economic& job growth - Area Development

Best U.S. city to becomean entrepreneur - Investopedia

Hottest housing marketof 2016 - Zillow

Best city for youngentrepreneurs - NerdWallet

Best recession-recovered city - WalletHub

4th Most bikeable city in the U.S. - Walkscore3rd Best city for college graduates - Rent .com

5th Most startup activity - Kauffman Index

6th Most active city - BetterDoctor

4th Best market for STEM professionals - WalletHub

4th Highest increase in new housing - Freddie Mac

4th Top emerging technology center - JLL

6th Best U.S. city for foodies in 2015 - Nerdwallet

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

&

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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 Mall Experience: The Future of Denver’s 16th Street MallThe 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 SpacesDenver 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 ComplexDenver 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.

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:

Major Downtown Planning Initiatives:

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.

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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

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

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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.

DENVER

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CENTER CITYNEIGHBORHOOD BOUNDARY

DOWNTOWN DENVER BOUNDARY

BUSINESS IMPROVEMENTDISTRICT BOUNDARY

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.

2008 2009 2010 2011 2012 2013 2014 2015 Future

$2.5B

$750M

$1.50B

$2.25B

$3.0B

15 development projects were completed in Downtown Denver in 2015, representing:

• $634,700,000 of investment

• 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:

• $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%

ResidentialMixed-UseOf�ce

Government + Academic InstitutionsHotelEntertainment + CultureTransportation + Public Realm

50% 75% 100%

Increasing Investment in Downtown Denver

Variety of Project Types

6


7

HOTEL

HOTEL

HOTEL

HOTEL

HOTEL

HOTEL

HOTEL

$205 MillionTOTAL INVESTMENT:TOTAL COMPLETED PROJECTS: 5TOTAL FUTURE PROJECTS: 3

$509 MillionTOTAL INVESTMENT:

800 UNITS

150ROOMS

$464,200,000INVESTMENT

376UNITS

Arapahoe Square

$1.38 BillionTOTAL INVESTMENT:TOTAL COMPLETED PROJECTS: 11TOTAL FUTURE PROJECTS: 6

$1.45 BillionTOTAL INVESTMENT:TOTAL COMPLETED PROJECTS: 11TOTAL FUTURE PROJECTS: 9


Commercial Core


Golden Triangle$1.26 BillionTOTAL INVESTMENT:

TOTAL COMPLETED PROJECTS: 6TOTAL FUTURE PROJECTS: 6

LoDo$177 MillionTOTAL INVESTMENT:


Prospect

Auraria Ballpark

CPV Commons Cultural Core

2,087ROOMS

380ROOMS

3,625 UNITS

946UNITS

346ROOMS

$697,200,000INVESTED

2,116,500SQUARE FEET

$46,630,000INVESTED

165ROOMS

1,044UNITS

129,833SQUARE FEET

$169,000,000INVESTED 482

ROOMS

901UNITS

970,800SQUARE FEET

$479,800,000INVESTED

883UNITS

HOTEL

HOTEL

TOTAL HOTELROOMS ADDED

TOTAL RESIDENTIALUNITS ADDED

TOTAL SQUARE FEETOF OFFICE ADDED

DOLLARS INVESTED IN MAJOR PROJECTS

RESIDENTIAL COMMERCIAL CIVIC

PROJECT TOTALS NO OR INSIGNIFICANT DEVELOPMENT

LEGEND

Totals include projects completed since 2010 and projectsunder construction/planned as of May 2016

1,093,000SQUARE FEET

HOTEL

HOTEL



DEVELOPMENT BY DISTRICT SINCE 2010

Sources: Downtown Denver Partnership - For boundaries please contact the Downtown Denver Partnership.

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• Downtown Denver has a total of 36,151,490 square feet of office space.

• 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.

• 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.

9.5% direct vacancy rate( 4 Q 1 5 )

$33.14/SF direct average lease rate( 4 Q 1 5 )

469,427SF total net absorption( 2 0 1 5 )

OFFICE MARKET + EMPLOYERSDowntown 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.

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

8%

9%

10%

12%

11%

14%

Vacancy Rate

13%

$15

$25

$20

$35

$30

1Q11

2Q13

3Q13

4Q13

1Q14

2Q14

$33.14

9.5%

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

Avg. Lease Rate (per sf )

Downtown Denver Of�ce Market TrendsDirect Vacancy and Lease Rates

* List includes only private sector, for-profit employers

A STRONG CULTURE OF ENTREPRENEURSHIP AND INNOVATIONDowntown 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.


x7 x2

x2

UKx2

United Wind

Spencer OgdenWorldRemit

Layer3 TV

Warren Resources

Microgrid EnergyRemote-Learner

World Wide Technology Inc.Kirkpatrick Bank

GranicusFiveStars

GustoJobAdder.comPensco Trust Co.PipelineRxSunrun

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.

J O S H R E E V E SGusto,

CEO and Co-founder

“

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DOWNTOWN DENVER IS ATTRACTING CORPORATE EXPANSIONS AND RELOCATIONS

Sources: CoStar, Downtown Denver Partnership, Metro Denver Economic Development Council, Denver Post, Denver Business Journal, Development Research Partners

WORKFORCE 9

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.

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THE HIGHLY EDUCATE WORKFORCE COMING TO DENVER HELPS COMPANIES LIKE OURS GROW OUR BUSINESS AND CULTIVATE GREAT TALENT.

A N D R E D U R A N DPing Identity, Chairman and CEO

“108 K

2009

2010

110 K112 K114 K116 K118 K120 K122 K124 K

2011

2012

2013

2014

2015

123,548Employment Growth in Downtown Denver


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31.4% 18.5%DOWNTOWN DENVER

DOWNTOWN DENVER METRO DENVER

METRO DENVER30%

25%

20%

15%

10%

5%

The Professional and Business Services sector employs the most

people in both Downtown Denver and the Metro Denver region.

EMPLOYMENT BY SECTOR IN METRO DENVER & DOWNTOWN DENVER

Sources: Colorado Department of Labor and Employment Quarterly Census of Employment and Wages (Q2 2015 data), Development Research Partners, HeadlightData analysis of ACS data, U.S. Census Bureau (ACS data), U.S. BLS Current Employment Statistics

STUDENTS + UNIVERSITIES12

• 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.

• 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.

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.

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 32

Emily Griffith Technical College 4,101

TOTAL 54,040


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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RESIDENTS

• 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.

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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.

2015 Residential Real Estate Market

Downtown Denver*

Center City*

Metro Denver*

Total Homes Sold 561 1,562 61,439

Average Sales Price $513,790 $414,144 $351,619

Average Price/SF $418 $362 $216

GROWING AMENITIES TO SUPPORT A GROWING POPULATIONHigh-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.

DowntownDenver

Downtown Denver’s Expanding Residential Population

Center CityNeighborhoods

City of Denver

United States

215% |

Growth Rate 2000-2016Projected Growth Rate 2016-2021

13%179%

10%36%

9%24%

4%15%

Growth Rate2000-2021

50% | Growth Rate2000-2021

35% | Growth Rate2000-2021

19% | Growth Rate2000-2021


* Condominiums/townhomes and detached single-family homes combined

1515

population

7,108

downtown denver

WHITE

81%

HISPA

NIC

7%

BLAC

K

5%

ASIAN

4%

OTHE

R

3%

WHITE

71%

BLAC

K

7%

ASIAN

3%

OTHE

R

3%

HISPA

NIC

16%race / ethnicityage & gender

households with no vehicles

21.4% 21.0%

average household size

1.4 1.6

*34.3 *33.6F 43%M 57%

F 45%M 55%

*median age

center city neighborhoods*

2000

2010

2016*

2021*

14,844

19,854

22,357 83,817

75,972

63,297

55,709

*estimate/projection

years years

73%

12,702

45,344

households

$ 4 7 2 , 0 7 9 $ 3 6 5 , 7 4 2

median owner-occupied housing value

owner vs. renter occupied households

18% 82% 22% 78%

family vs. non-family households

73%27%27%

$100,825

$76,914average household income

educational attainment

Bachelor’s Degree

Master’s Degree

Doctorate Degree

Professional School Degree

2% 2%

6% 4%

17% 14%

40% 38%

DEMOGRAPHICS

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

* center city neighborhood boundary revised in 2015

RETAIL + RESTAURANTS16

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.

DECEMBER SEPTEMBER JUNE1ST 2ND 3RD

$5 M

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

$10 M$15 M$20 M$25 M$30 M$35 M$40 M$45 M

$45 MILLION

restaurants

manufacturingother

hotel + otheraccommodation services

motor vehicles + auto parts

clothing +accessory stores

49% 22%

4%

6%

miscellaneousstores

5%

4%10%

Rising Retail Sales Tax Collections in Downtown Denver

Restaurants Represent Almost Half of Downtown’s Sales Tax Collections

TOP THREE MONTHS FOR RETAIL SALES


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

DOWNTOWN DENVER IS HAVING A REJUVENATION THAT WE WANT TO BE PART OF.

L A R R Y M E Y E R

17

Uniqlo USACEO

“

JUNE

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

MOBILITYMultimodal 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.

• 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.

• 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.

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Used transit 40.6%Drove alone38.5%Bicycled 6.5%Walked 5.6%Carpooled 5.2%Teleworked 2.2%Motorbiked 1.1%Vanpooled 0.2%

HOW DOWNTOWN DENVER EMPLOYEES COMMUTE TO WORKNearly 60% use transit, walk, bike, or share the ride to Downtown Denver


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

RTD FREE SHUTTLESPEDAL CABS

BIKESHARE

BUS

CARSHARE bus rapid transit TRAVEL APPS

BIKE

RAIL

ON-DEMAND RIDESINCLUDING SERVICES SUCH AS UBER, LYFT AND TAXIS

353 LICENSED PEDAL CAB DRIVERS

RTD FREE MALLRIDE (14,000,000 ANNUAL PASSENGERS) + RTD FREE METRORIDE (586,500 ANNUAL PASSENGERS)

FLATIRON FLYER CONNECTS BOULDER TO DOWNTOWN DENVER WITH FREQUENT SERVICE

• TRANSIT • GO DENVER• MY WAY TO GO

18.7 MILES OF BIKE LANES AND TRAILS + 3 PROTECTED BIKE LANES

7 RTD RAIL LINES SERVING DOWNTOWN DENVER + 37 MINUTES BY RAIL FROM DOWNTOWN DENVER TO DIA

walkAVERAGE COMMUTER WALKS 9.7 BLOCKS EACH DAY

OPTIONS INCLUDE CAR2GO, ZIPCAR, ENTERPRISE CARSHARE, EGO CARSHARE + 28 DEDICATED PARKING SPACES

58 RTD BUS ROUTES SERVING DOWNTOWN DENVER

34 B-CYCLE STATIONS THROUGHOUT DOWNTOWN DENVER

ELECTRIC18 CHARGING STATIONS IN DOWNTOWN DENVER

B

PARKING42,000 OFF STREET5,000 ON STREET

PECOPASS55,000 ELIGIBLEEMPLOYEES AT 360 COMPANIES

BUSONLY

19

MOBILITY OPTIONS IN DOWNTOWN DENVER

HOW DOWNTOWN DENVER EMPLOYEES COMMUTE TO WORKNearly 60% use transit, walk, bike, or share the ride to Downtown Denver

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

PUBLIC SPACE + ACTIVATION20

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.

20

WYNKOOP PLAZA IS A PREMIER PUBLIC SPACE LITERALLY ON OUR FRONT STEPS AND A NATURAL AMENITY FOR OUR EMPLOYEES.

R O B C O H E NThe IMA Financial Group, Inc.

Chairman & CEO

“


Sources: Downtown Denver Partnership, City and County of Denver

Growing Network of Public Spaces in Downtown DenverDowntown Denver welcomed a brand new public space at Denver Union Station with the completion of Wynkoop Plaza in July 2014. The 40,000 square foot public plaza is surrounded by restaurant patios, entrances to more than a dozen office buildings, stores and restaurants, making the plaza active with pedestrian traffic for a significant portion of the day. During the summer months, the plaza’s southern side offers a fountain that attracts children, as well as the young at heart, to cool-off and play in the water that jets out of the ground. The computer programmed fountain displays a variety of effects, shooting out bursts of water in constantly changing shape and timing patterns. The northern side of the plaza hosts a grove of trees and permanent seating, offering plenty of shade to users of the plaza. Continued investment in urban parks and public spaces is an integral component of propelling Denver forward as a world-class city with an economically healthy and vibrant Downtown. The Downtown Denver Partnership and the .

PUBLIC SPACE + ACTIVATION20

Downtown Denver offers a healthy green environment and a commitment to sustainability.

• Downtown Denver has 152 acres of parks and open space.

• RTD’s Union Station Bus Concourse was awarded LEED Gold certification, becoming only the ninth transit building in the United States to earn LEED designation.

• The recently formed Denver 2030 District includes 45 buildings representing over 20 million square feet in Downtown Denver. The District aims to dramatically reduce energy consumption, water use, and emissions from transportation.

• There are 37 businesses in Downtown Denver that are certified through the City of Denver’s Certifiably Green Denver Program.

21

Five Largest Parks in Downtown Denver

PARK ACRES

City of Cuernavaca Park 29.1

Commons Park 19.7

Gates Crescent Park 14.2

Civic Center Park 12.5

Centennial Park 6.6

20

2 0 1 6 S T A T E O F D O W N T O W N D E N V E R | P R O D U C E D B Y 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

21

WE THINK DOWNTOWN DENVER IS HAVING A REJUVENATION THAT WE WANT TO BE PART OF...

L A R R Y M E Y E RCEO of Uniqlo USA

“CIVIC CENTER PARK

WYNKOOP PLAZA

SKYLINE PARK BLOCK 1



16TH STREET MALL

PARK ORPUBLIC SPACE

DAYS ACTIVATEDIN 2015

EVENT ATTENDANCEIN 2015 (EST.)

SAMPLE EVENTS2015

153153

1831837878

2502506868

1717 PARTIAL YEARBID/DOWNTOWN DENVER PARTNERSHIP-PRODUCED

MILLIONS

2,482,000

221,270

98,137

2,324

3,110

+ 701 KIDS

+ 1,676 DOGS

Your Keys to the City

Meet in the Street

Zombie Crawl

Taste of Colorado

Pride Fest

Civic Center Eats

Movies in Skyline Park

Denver Christkindl Market

Farmers’ Market

Doors Open Denver

Pop-up Dog Park

Kid’s Play Area

Southwest Rink at Skyline Park

Games at Skyline Park

2121

Sources: Downtown Denver Partnership, City and County of Denver


TOURISM + ATTRACTIONS

• 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.

22

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

Offering premier hotels, award-winning restaurants and unique experiences, Downtown Denver has become a world-class destination for regional and international tourists alike.

23CO

NTIN

UED

INVE

STME

NTS

& GR

OWTH

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.

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 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.

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

$179.45

$105

2011 2012 2013 2014 2015

$110

$100

$115$120$125$130$135$140$145

$139.58

77.80%

55%

2009

2010

60%

65%

70%

75%

80%

2011

2012

2013

2014

2015

2009

2010

2011

2012

2013

2014

2015

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, Airports Council Int’l

DOWNTOWN DENVER INC.BOARD OF DIRECTORS 2015-2016

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 Kristin Bronson, Lewis Roca Rothgerber Christie LLPCedric Buchanon, BBVA Compass Terrance Carroll, SCL HealthChris Castilian, Anadarko Petroleum CorporationStephen 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 Bob Flynn, Crestone Partners, LLC Mark Goodman, Colorado Nut Company Jim GreinerTom Grimshaw, Spencer Fane & Grimshaw, LLPMichael 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*Catherine (Katy) Jones-Metelko, Wells FargoSteve Katich, J.E. Dunn Construction Co. Kevin Kelley, Husch Blackwell LLP David Kenney, The Kenney Group*Dick 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 MediaChad McWhinney, McWhinney*Karyn Miller, CraftsyJohn Moye, Moye White LLPWill Nicholson, Rocky Mountain BankCard Systems, Inc.Katherine Ott, SlimGenics, LLCSusan Powers, Urban Ventures LLC* Gary Reiff, Black Creek GroupJon Robinson, UMBMaja Rosenquist, Mortenson Construction Kathy Seidel, The Northern Trust CompanyMarc SpritzerGeorge Thorn, Mile High Development Rick Tucker, Hensel PhelpsTracy Winchester, Five Points Business DistrictDavid WollardMike Zoellner, RedPeak Properties*

DOWNTOWN DENVER BUSINESS IMPROVEMENT DISTRICT BOARD OF DIRECTORS 2016 Gina Guarascio, Jones Lang LaSalle, ChairJon Buerge, Urban Villages Inc., Vice ChairDorit Fischer, NAI Shames Makovsky, TreasurerConnie O’Murray, Jones Lang LaSalle, SecretaryAustin Kane, Unico Properties LLCDavid Kaufman, 910 Associates, Inc.Rick Kron, Spencer Fane LLP, Legal AdvisorBahman Shafa, Focus Property Group

GRAPHIC DESIGNDerek Berardi | www.derekberardi.com

PHOTOGRAPHYRyan Dravitz Photography

DENVER CIVIC VENTURESBOARD OF DIRECTORS 2015-2016

Board OfficersBill Mosher, Trammell Crow Company, Chairman*Trinidad Rodriguez, D.A. Davidson & Co., Vice Chairman*Sarah Rockwell, Kaplan Kirsch Rockwell LLP, Secretary*

MembersLaura Aldrete, Matrix Design Group Bruce Alexander, Vectra Bank Colorado John Beeble, Saunders Construction, Inc. Ray Bellucci, TIAAFerd Belz, L.C. Fulenwider, Inc.Brianna Borin, Snooze: an AM Eatery Sarah Semple Brown, Semple Brown Design Marvin BuckelsFrank 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 LLLPDr. Art Gonzalez, Denver HealthTom Gougeon, Gates Family Foundation* Beth Gruitch, RiojaIsmael Guerrero, Denver Housing Authority*Amy Hansen, PolsinelliJim 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 DenverGreg Leonard, Hyatt Regency Denver at the CO Convention CenterAdam Lerner, Museum of Contemporary Art DenverTraci Lounsbury, Workforce ELEMENTSRoland Lyon, Kaiser Foundation Health Plan of ColoradoEvan Makovsky, NAI Shames Makovsky* Cindy Parsons, ComcastAdam Sands, First BankGloria Schoch, MillerCoorsKen Schroeppel, Univ. of CO Denver – College of Arch. & Planning Mark Sidell, Gart PropertiesDavid Sternberg, Brookfield Office Properties Mark Stiebeling, Grand Hyatt DenverFrank Terrasi, PCL ConstructionJean Townsend, Coley Forrest, Inc.David Tryba, Tryba ArchitectsMeg VanderLaan, MWH Global, Inc.*Joe Vostrejs, City Street Investors*Elbra Wedgeworth, Denver HealthWendy Williams, Vector Property Services, LLC

CONTRIBUTORS AND EDITORS Emily Brett, Aylene McCallum, Sharon Alton, Kate Barton, John Desmond, Tami Door, Nicole Dorsey, Bonnie Gross, Jim Kirchheimer, Beth Moyski, Brea Olson, Aneka Patel, Adam Perkins, Brian Phetteplace and Kaylin Tscherpel.

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

Photo Credit: VISIT DENVER and Evan Semón

* Downtown Denver Partnership Management Group

GREAT CITIES ARE NOT STATIC, THEY CONSTANTLY CHANGE AND TAKE THE WORLD ALONG WITH THEM.

E D W A R D G L A E S E R

“ “

AuthorTriumph of the City

Downtown Denver Partnership511 16th Street, Suite 200Denver, CO 80202

303.534.6161www.downtowndenver.com

Downtown Denver

@DowntownDenver

@Downtown_Denver

Downtown DenverPartnership, Inc.

Published in May 2016 by:

Documents

State of Downtown Denver 2016