State of Downtown Denver Report

8/17/2019 State of Downtown Denver Report

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@

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 RAILCONNECTED TO DOWNTOWN

DENVER BY END OF 2016

88

DOWNTOWN’S RESIDE

POPULATION HAS ALM

TRIPLED SINCE 2000

3X

Downtown DenverPartnership, Inc.

P R O D U C E D B Y


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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

1

3

4-5

6-7

8-9

10-11

12-13

14-15

16-17

18-19

20-21

22-23

25

TABLE OF CONTENTS>


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WANT EVEN MORE?• Become a Member: Email [email protected]

• Engage: Facebook (Downtown Denver), Twitter (DENPartnership and DowntownDenver), Instagram (Downtown_Denv

• 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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RANKINGS

&


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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 Us of Resources

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 peopleto 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.

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 VISIONThe 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.

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


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

Boundaries

This report uses two geographic definitions as shown on the map below. Downtown Denver refers to the core ofDowntown 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.

D E N V

E R

U N I O N

S T A T

I O N

PEPSICENTER

E S P E E R B L

V D

P L A T T E

S T

W COLFAX AVE

3 0 T H S T

Z U N I S T

F E D

E R A L

B L V

D

S A N T A

F E D R

I

I

1 6 T H S

T M A L L

G R A N T S T

W COLFAX AVE

B L A K E

S T

P E C O S S T

38TH AVE

N S P E E R

W 8TH AVE

B R I G H T O

N B L V D

2 0 T H

L I N C OL N S T

P A R K A V E

E 8TH AVE

D O W N I N G S T

C H A M

P A S T

S P E E R

B R O A D W

A Y

25

SPORTSAUTHORITY

FIELD

GatesCrescent

Park

JeffersonPark

C e n t

e n n i

a l

G a r d

e n s

City ofCuernavaca

Park

Rude

Park

Lincoln

Park

C o m m

o n s

P a r k

CivicCenter

Park

20TH AV E

3 8 T H S T

DOWNTOWN

BOUNDARIES

E 6T H AV E

CENTRALPLATTE VALLEY

AURARIA

CENTRAL

PLATTE VALLEY COMMONS

PROSPECT

LODO

BALLPARK

ARAPAHOE

SQUARE

COMMERCIAL

CORE

AURARIA

CULTURAL

CORE

GOLDEN

TRIANGLE

CENTER CITY

NEIGHBORHOOD BOUNDARY

DOWNTOWN DENVER

BOUNDARY

BUSINESS IMPROVEMENT

DISTRICT BOUNDARY


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DEVELOPMENT + INVESTMENTDevelopers 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 underconstruction 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-UseOffice

Government + Academic InstitutionsHotelEntertainment + Culture

Transportation + Public Realm

50% 75% 100%

Increasing Investment in Downtown Denver

Variety of Project Types



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H

O

T

E

L

H

O

T

E

L

H

O

T

E

L

H

O

T

E

L

H

O

T

E

L

H

O

T

E

L

H

O

T

E

L

$205 Million TOTAL INVESTMENT: TOTAL COMPLETED PROJECTS: 5

TOTAL FUTURE PROJECTS: 3

$509 Million TOTAL INVESTMENT:

800 UNITS

150ROOMS

$464,200,000INVESTMENT

376UNITS

Arapahoe Square

$1.38 Billion TOTAL INVESTMENT: TOTAL COMPLETED PROJECTS: 11


$1.45 Billion TOTAL INVESTMENT: TOTAL COMPLETED PROJECTS: 11




Commercial Core



Golden Triangle$1.26 Billion TOTAL INVESTMENT:

TOTAL COMPLETED PROJECTS: 6


LoDo$177 Million TOTAL INVESTMENT:



Prospect

Auraria Ballpark

CPV Commons Cultural Core

2,087ROOMS

380ROOMS

3,625 UNITS

946UNITS

346ROOMS

$697,200,000

INVESTED

2,116,500SQUARE FEET

$46,630,000INVESTED

165

ROOMS

1,044UNITS

129,833

SQUARE FEET

$169,000,000INVESTED 482

ROOMS

901UNITS

970,800SQUARE FEET

$479,800,000INVESTED

883UNITS

H

O

T

E

L

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

H

O

T

E

L

H

O

T

E

L



$75 Million TOTAL INVESTMENT:



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( 4Q15)

$33.14 /SF direct average lease rate( 4Q15)

469,427SF total net absorption( 2015)

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 Center

KPMG LLP

Mortenson Construction

Sheraton

TIAA

Transamerica Investments& Retirement

US Bank

Wells FargoXcel Energy

Accenture

ALPs Fund Services

Anadarko Petroleum

Anthem Blue Cross Blue Shield

CenturyLink

Comcast

DaVita HealthCare Partners Inc.

Deloitte LLP

Denver PostEncana

Gates Corporation

2 Q 1 1

3 Q 1 1

4 Q 1 1

1 Q 1 2

2 Q 1 2

3 Q 1 2

4 Q 1 2

1 Q 1 3

8%

9%

10%

12%

11%

14%

Vacancy Rate

13%

$1

$2

$2

$3

$3

1 Q 1 1

2 Q 1 3

3 Q 1 3

4 Q 1 3

1 Q 1 4

2 Q 1 4

3 Q 1 4

4 Q 1 4

1 Q 1 5

2 Q 1 5

3 Q 1 5

4 Q 1 5

Avg. Lease Rate (per sf)

Downtown Denver Office Market TrendsDirect Vacancy and Lease Rates

* 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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x7 x2

x2

UKx2

United Wind

Spencer Ogden WorldRemit

Layer3 TV

Warren Resources

Microgrid Energy

Remote-Learner

World Wide Technology Inc.Kirkpatrick Bank

GranicusFiveStars

GustoJobAdder.comPensco Trust Co.PipelineRxSunrun

Poetic Systems

Map includes relocations and expansions announcedbetween 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 beenannounced by existing Downtown Denvercompanies, including:· Comcast· DaVita· KPMG· TIAA

DENVER IS A VIBRANT, GROWINGCITY WHERE WE ARE EXCITED TOEXPAND OUR FOOTPRINT.

J O S H R E E V E SGusto,

CEO and Co-founder“

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


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WORKFORCEMore 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.

THE HIGHLY EDUCATE WORKFORCECOMING TO DENVER HELPS COMPANIESLIKE OURS GROW OUR BUSINESS ANDCULTIVATE GREAT TALENT.

A N D R E D U R A N D

Ping Identity,Chairman and CEO

“108 K

2 0 0 9

2 0 1 0

110 K

112 K

114 K

116 K

118 K

120 K

122 K

124 K

2 0 1 1

2 0 1 2

2 0 1 3

2 0 1 4

12

Employment Growth in Downtown Denver



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P

R O F E S S I O N A L &

B U S

I N E S S S E R V I C E S

G O V E R N M E N T

L E I S U R E & H O S P I T A L I T Y

F I N A N

C I A L A C T I V I T I E S

N A T U R A L R E S O U R C E S

&

C O N S T R U C T I O N

W H O L E S A L E &

R E T A I L T R A D E

I N F O R M A T I O N

O

T H E R S E R V I C E S

E D U C A T I O N &

H E A L T H S E R V I C E S

T R A N S P . , W A R E H O U S I N G

& U T I L I T I E S

M

A N U F A C T U R I N G

31.4% 18.5%DOWNTOWN DENVER

DOWNTOWN DENVER METRO DENVER

METRO DENVER

30%

25%

20%

15%

10%

5%

The Professional and Business

Services sector employs the mostpeople 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


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STUDENTS + UNIVERSITIES

• 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 thecreation 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.

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

DowntownDenver*

CenterCity*

MetroDenver*

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 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 andprepared 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 2000-2016

Projected Growth Rate 2016-2021

179%

36%

24%

15%

Growth Rate2000-2021

50% | Growth Rate2000-2021

35% | Growth Rate2000-2021

19% | Growth Rate2000-2021


* Condominiums/townhomes and detached single-family homes combined


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population

7,108

downtown denver

O

T H

E R

3%

O

T H

E R

3%

race / ethnicityage & gender

households with no vehicles

21.4% 21.0%

average household size

1.4 1.6

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

82% 78%

family vs. non-family households

73%

$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


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RETAIL + RESTAURANTSDowntown 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 retai

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

2 0 0 6

2 0 0 7

2 0 0 8

2 0 0 9

2 0 1 0

2 0 1 1

2 0 1 2

2 0 1 3

2 0 1 4

2 0 1 5

$10 M

$15 M

$20 M

$25 M

$30 M

$35 M

$40 M

$45 M

$45 MILLION

restaurants

manufacturingother

hotel + othe

accommodation service

motor vehicles + auto parts

clothing +accessory store

49%

6%

miscellaneoustore

5%

4%10%

Rising Retail Sales Tax Collections inDowntown Denver

Restaurants Represent Almost Half ofDowntown’s Sales Tax Collections

TOP THREE MONTHS FOR RETAIL SALES


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


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DOWNTOWN DENVER IS HAVING AREJUVENATION THAT WE WANT TOBE PART OF.

L A R R Y M E Y E RUniqlo USA

CEO

“


20/28

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 thanfemale 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.

Used transit40.6%Drove alone38.5%

Bicycled6.5%Walked

5.6%Carpooled5.2%

Teleworked2.2%Motorbiked1.1%Vanpooled0.2%

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-Cyc


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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 STREET

5,000 ON STREET

P

ECOPASS55,000 ELIGIBLE

EMPLOYEES AT 360

COMPANIES

BUSONLY

MOBILITY OPTIONS IN DOWNTOWN DENVER


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PUBLIC SPACE + ACTIVATIONThrough 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 PUBLICSPACE LITERALLY ON OUR FRONT STEPSAND A NATURAL AMENITY FOR OUREMPLOYEES.

R O B C O H E N

The IMA Financial Group, Inc.Chairman & CEO

“


Sources: Downtown Denver Partnership, City and County of Denve


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CIVIC CENTER PARK

WYNKOOP PLAZA

SKYLINE PARK BLOCK 1



16TH STREET MALL

PARK ORPUBLIC SPACEDAYS ACTIVATED

IN 2015EVENT ATTENDANCE

IN 2015 (EST.)SAMPLE EVENTS

2015

153

18378

25068

17

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 t he C ity

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


24/28


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 occupancyrates 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 Artand 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 professionalsports 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 WorldChampionship Parade andCelebration

Feb. ‘16 1,000,000

SnowSports Industries America Jan. ‘16 19,000

Ellucian April ‘16 10,000

Association for TalentDevelopment

May ‘16 10,000

NAFSA: Association of

International Education

May ‘16 10,000

Intl. Society for Technology inEducation

June ‘16 20,000

American PsychologicalAssociation

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.


25/28

C O N T I N U E D I N

V E S T M E N T S &

G R

O W T H

Colorado Convention Center Expansion

A new expansion, funded by a voter-supportedtourism tax extension, will include many new featuresthat 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 flexiblemeeting and ballroom space and over 100,000sf ofnew pre-function and service space, including aspectacular 50,000sf outdoor terrace to be located onthe roof of the existing convention center.

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

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

Major shifts in cultural consumption require physicaland programmatic modifications at the ArtsComplex. Differing expectations of a growingpopulation and changing development patternsnecessitate new ways of integrating the 12-acrecampus 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 DowntownDenver and the airport began April 2016.

A 500-room Westin hotel opened in late 2015.

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

Expanding Hotel Market in Downtown Denver

The following new hotels are under construction, withmany 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

$179.4

$105

2011 2012 2013 2014 2015

$110

$100

$115

$120

$125

$130

$135

$140

$145

$139.58

77.80%

55%

2 0 0 9

2 0 1 0

60%

65%

70%

75%

80%

2 0 1 1

2 0 1 2

2 0 1 3

2 0 1 4

2 0 1 5

2 0 0 9

2 0 1 0

2 0 1 1

2 0 1 2

2 0 1 3

2 0 1 4

2 0 1 5

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


26/28


27/28

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 Bank

Mike Bearup, KPMG LLP

Molly Broeren, Molly’s of Denver

Kristin Bronson, Lewis Roca Rothgerber Christie LLP

Cedric Buchanon, BBVA Compass

Terrance Carroll, SCL Health

Chris Castilian, Anadarko Petroleum Corporation

Stephen Clark, S. B. Clark Companies

Mark Cornetta, 9NEWS

Dana Crawford, Urban Neighborhoods, Inc.

David Eves, Public Service Company, an Xcel Company

Cole Finegan, Hogan Lovells US LLP

Bob Flynn, Crestone Partners, LLC

Mark Goodman, Colorado Nut Company

Jim Greiner

Tom Grimshaw, Spencer Fane & Grimshaw, LLP

Michael Hobbs, Guaranty Bank and Trust CompanyJim Holder, Cigna

Kathy Holmes, Holmes Consulting Group

Vernon Irvin, CenturyLink

Walter Isenberg, Sage Hospitality*

Bruce James, Brownstein Hyatt Farber Schreck LLP*

Catherine (Katy) Jones-Metelko, Wells Fargo

Steve 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 Forum

Kim Koehn, K2 Ventures, LLC

Tom Lee, Newmark Grubb Knight Frank

Harry T. Lewis, Lewis Investments

Laura Love, Groundfloor Media

Chad McWhinney, McWhinney*

Karyn Miller, Craftsy

John Moye, Moye White LLP

Will Nicholson, Rocky Mountain BankCard Systems, Inc.

Katherine Ott, SlimGenics, LLC

Susan Powers, Urban Ventures LLC*

Gary Reiff, Black Creek Group

Jon Robinson, UMB

Maja Rosenquist, Mortenson Construction

Kathy Seidel, The Northern Trust Company

Marc Spritzer

George Thorn, Mile High Development

Rick Tucker, Hensel Phelps

Tracy Winchester, Five Points Business District

David Wollard

Mike Zoellner, RedPeak Properties*

DOWNTOWN DENVER BUSINESS IMPROVEMENTDISTRICT BOARD OF DIRECTORS 2016Gina 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

GRAPHIC DESIGNDerek Berardi | www.derekberardi.co

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, TIAA

Ferd Belz, L.C. Fulenwider, Inc.

Brianna Borin, Snooze: an AM Eatery

Sarah Semple Brown, Semple Brown Design

Marvin Buckels

Frank Cannon, Continuum Partners, LLC

Gene Commander, Gene Commander, Inc.

Chris Crosby, The Nichols Partnership*

Greg Feasel, Colorado Rockies Baseball Club

Patty Fontneau, Cigna

Chris Frampton, East West Partners

Dr. Everette Freeman, Community College of Denver

Jerry Glick, Columbia Group LLLP

Dr. Art Gonzalez, Denver HealthTom Gougeon, Gates Family Foundation*

Beth Gruitch, Rioja

Ismael Guerrero, Denver Housing Authority*

Amy Hansen, Polsinelli

Jim Hearty, DaVita Healthcare Partners Inc.

Rus Heise

Doug Hock, Encana Corporation

Don Hunt, Antero Resources

Jennifer Johnson, HKS Architects

Jim Johnson, Johnson Nathan Strohe

Dr. Stephen Jordan, Metropolitan State University of Denver

Greg Leonard, Hyatt Regency Denver at the CO Convention Center

Adam Lerner, Museum of Contemporary Art Denver

Traci Lounsbury, Workforce ELEMENTS

Roland Lyon, Kaiser Foundation Health Plan of Colorado

Evan Makovsky, NAI Shames Makovsky*

Cindy Parsons, Comcast

Adam Sands, First Bank

Gloria Schoch, MillerCoors

Ken Schroeppel, Univ. of CO Denver – College of Arch. & Planning

Mark Sidell, Gart Properties

David Sternberg, Brookfield Office Properties

Mark Stiebeling, Grand Hyatt Denver

Frank Terrasi, PCL Construction

Jean Townsend, Coley Forrest, Inc.

David Tryba, Tryba Architects

Meg VanderLaan, MWH Global, Inc.*

Joe Vostrejs, City Street Investors*

Elbra Wedgeworth, Denver Health

Wendy Williams, Vector Property Services, LLC

CONTRIBUTORS AND EDITORS Emily Brett, Aylene McCallum, Sharon

Alton, Kate Barton, John Desmond, Ta

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 Co

International, Auraria Higher Educatio

Campus, B-Cycle, City and County of D

Colorado Comps, Colorado Convention

Center, Colorado Department of Labor

and Employment, Quarterly Census of

Employment and Wages, Colorado Stat

University, Community College of Denv

CoStar, Denver Business Journal, Denv

Infill, Denver International Airport, Den

Metro Apartment Vacancy and Rent Su

Denver Post, Development Research

Partners, Downtown Denver Partnersh

Emily Griffith Technical College, HeadlData, Metro Denver Economic Develop

Council, Metro State University of Denv

Nielsen Segmentation and Market Solu

Rocky Mountain Lodging Report, RTD,

BLS Current Employment Statistics, U

Census Bureau, University of Colorado

Denver, VISIT DENVER, walkscore.com

Photo Credit: VISIT DENVER and Evan Semón

* Downtown Denver Partnership Management Group


28/28

GREAT CITIES ARE NOT STATIC,THEY CONSTANTLY CHANGEAND 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 Partnership

511 16th Street, Suite 200

Denver, CO 80202Downtown Denver

@Downtown_Denver

Downtown Denver

Partnership, Inc.

Published in May 2016 by:

Documents

State of Downtown Denver Report