Page 1

BILLION

MILLION HOTEL ROOM NIGHTS

INVESTMENT THROUGH PROJECTS COMPLETED IN 2014

164%

SQUARE FEET OF OFFICE SPACE

152

GROWTH IN DOWNTOWN’S RESIDENTIAL POPULATION SINCE 2000

$1

ACRES OF PARKS IN DOWNTOWN DENVER

DOWNTOWN AVERAGE HOUSEHOLD INCOME

63%

69,872 RESIDENTS IN DOWNTOWN DENVER AND CITY CENTER NEIGHBORHOODS

RESIDENTS WITH A BACHELOR’S DEGREE OR HIGHER

55,000+ HIGHER EDUCATION STUDENTS IN DOWNTOWN DENVER

60%

EMPLOYEES THAT BIKE, WALK, USE TRANSIT OR CARPOOL TO WORK

120, 871 EMPLOYEES WORKING IN DOWNTOWN DENVER

Downtown Denver Partnership, Inc.


TABLE OF CONTENTS HOW TO USE THE STATE OF DOWNTOWN DENVER RANKINGS DENVER’S DOWNTOWN AREA PLAN DEVELOPMENT AND INVESTMENT OFFICE MARKET EMPLOYERS AND EMPLOYEES RESIDENTS RETAIL AND RESTAURANTS STUDENTS AND UNIVERSITIES MOBILITY ENVIRONMENT TOURISM CULTURE, SPORTS AND EVENTS CREDITS

1 3 4 6-7 8-9 10-11 12-13 14-15 16-17 18-19 20 22 23 25


HOW TO USE THE STATE OF DOWNTOWN DENVER

1

The State of Downtown Denver is the most complete encyclopedia of statistics and analysis about Downtown Denver. We have prepared this document specifically to inform and support Downtown Denver stakeholders as they build, invest, locate and visit Downtown Denver. We invite you to turn the page and read the facts, figures and case studies in this report that showcase the current State of Downtown Denver.

LOOK SMART Impress your colleagues with facts and figures about Downtown Denver that are relevant to your career, industry and investments.

CLOSE THE DEAL Gather the information you need about Downtown Denver to secure the deal, inspire your investors or plan your next move.

FIND OUT WHAT’S COOL Stay ahead of the game and discover what forward thinking businesses, entrepreneurs, retailers and restaurants are located in Downtown Denver.

START A BUSINESS Start your next company in Downtown Denver to have the best access to technology, talent and tools.

KNOW YOUR CITY Knowledge is power and nothing is more powerful than knowing the most comprehensive facts and figures about Downtown Denver.

Want even more? • Email info@downtowndenver.com to inquire about membership with the Downtown Denver Partnership • Follow Downtown Denver on Facebook, Twitter and Instagram • Visit www.downtowndenver.com


2


RANKINGS

3

4TH HIGHEST % YOUNG AND EDUCATED RESIDENTS 3RD BEST CITY FOR SMALL BUSINESS -NEW YORK TIMES 2014

1ST 6TH 7TH

BEST COMMERCIAL REAL ESTATE MARKET IN US -COLDWELL BANKER 2015

2014

BEST CITY FOR PARKS -TRUST FOR PUBLIC LAND

2ND 1ST

MOST LITERATE CITY -CCUS

-BIZ2CREDIT 2014

2014

BEST BEER CITY -LIVABILITY 2014

LARGEST INCREASE IN RESIDENTS W/ COLLEGE DEGREES -US CENSUS

2014

4TH HEALTHIEST CITY IN UNITED STATES -AMERICAN FITNESS INDEX

2014

2ND BEST PLACE TO LAUNCH A STARTUP BUSINESS

9TH HIGHEST RATE OF BIKE COMMUTERS AMONG LARGE CITIES

6TH

7TH

-FORBES 2014

1ST

FASTEST GROWING METRO AREA -FORBES

2015

BEST CITY FOR COLLEGE GRADUATES -APARTMENTS.COM 2014

-US CENSUS 2014

6TH

BEST CITY FOR FEMALE ENTREPRENEURS -NERDWALLET 2014

MOST CREATIVE CITY -MOVOTO 2015

7TH BEST COFFEE CITY IN THE WORLD

5TH BEST PLACE FOR MILLENNIAL-AGED ENTREPRENEURS

6TH BEST PLACE FOR JOB SEEKERS

8TH MOST INNOVATIVE TRANSPORTATION OPTIONS

-MATADOR

2015

-NERD WALLET 2015

-NERDWALLET 2014

-COPIRG 2015


DENVER’S DOWNTOWN AREA PLAN The Downtown Area Plan sets 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 • The Downtown of the Rocky

Mountain Region

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• Grand Boulevards

SOUTH PLATTE RIVER

• Bicycle City • Park the Car Once

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AV E

. ST

• An Outstanding Pedestrian Environment

T AN GR

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BALLPARK

AY DW OA

• Clean and Safe

COORS FIELD

ARAPAHOE SQUARE

W

• A Comprehensive Retail Strategy

PARK AVE.

CENTRAL PLATTE VALLEY PROSPECT

DENVER UNION STATION

• Energizing the Commercial Core

BR

2015 | STATE OF DOWNTOWN DENVER

4

COLORADO CONVENTION CENTER

CULTURAL CORE GOLDEN TRIANGLE

AURARIA W

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• Downtown Living • A Family-Friendly Place • Embracing Adjacent Neighborhoods • An International Downtown

Downtown Denver Boundaries

Distinctive

The map above illustrates the boundaries of Downtown Denver. Downtown Denver is comprised of the following planning districts set forth by the 2007 Downtown Area Plan: Central Platte Valley Prospect, Central Platte Valley Commons, Central Platte Valley Auraria, Auraria, Lower Downtown (LoDo), Commercial Core, Cultural Core, Golden Triangle, Arapahoe Square and Ballpark.

• District Evolution • Connecting Auraria • Downtown’s New Neighborhood: Arapahoe Square

Green

City Center Neighborhood Boundaries

• An Outdoor Downtown

The City Center area includes Downtown Denver and its surrounding residential neighborhoods. Its boundaries extend beyond the Downtown Denver boundary to include the following neighborhoods: Highland, Ballpark, Curtis Park, Five Points, Uptown, Capitol Hill, La Alma/Lincoln Park and Jefferson Park.

• A Rejuvenated Civic Center • Sustainable Use of Resources

Sources: Downtown Denver Partnership, 2007 Downtown Area Plan Downtown Denver Partnership, 2007 Downtown Area Plan


5


DEVELOPMENT AND INVESTMENT Investors are taking notice of Downtown Denver and development is booming.

16 development projects were completed in Downtown Denver in 2014, representing:

Increasing Investment in Downtown Denver

$1.9

BILLION

$2 B

• $1,022,100,000 of investment

$1.75 B

• 482 additional hotel rooms

$1.25 B

• 1,148 additional residential units

$0.75 B

• 275,000 additional square feet of office space

$0.25 B

$1.5 B $1 B $0.50 B

Variety of Project Types

5% entertainment + culture

FUTURE

2014

2013

2012

2011

2010

2009

As of the beginning of 2015, there are 20 projects under construction and 15 projects planned for development in Downtown Denver, representing:

2008

• 170,000 additional square feet of retail space 2007

2015 | STATE OF DOWNTOWN DENVER

6

9% hotel

• $1,938,980,000 of investment

10%

government + academic

• 1,741 additional hotel rooms • 3,973 additional residential units • 2,396,000 additional square feet of office space • 211,920 additional square feet of retail space

11% mixed-use

39%

residential

13% office

Sources: Denver Business Journal, Denver Infill, Denver Post, Downtown Denver Partnership

12% transportation + public realm


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| DOWNTOWN DENVER DEVELOPMENT: 2007-2015 E3

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OFFICE MARKET Downtown Denver’s office market is experiencing strong demand and growth. • Downtown Denver has a total of 35,267,302 square feet of office space. • Despite the addition of over 700,000 square feet of office space in the past three years, the direct vacancy rate for Downtown Denver office space is 9.7%, as of the fourth quarter 2014. The direct average lease rate is $31.16/sf and net absorption is 247,184 square feet. • As of the beginning of 2015, there is 2,396,000 square feet of office space under construction or planned for development.

9.7% direct vacancy rate

$31.16/SF direct average lease rate

Major Office Building Sales in 2014*

247,184SF net absorbtion

* Does not include partial purchases. Only includes buildings over 100,000 square feet.

Est. Sales Price

Square Feet

Price Per Square Foot

Sale Date

1705 17th St.

$65,500,000

108,000

$600.65

March 2014

1615 Wynkoop St.

$67,150,000

112,552

$596.61

June 2014

1515 Arapahoe St.

$212,850,000

558,346

$381.22

May 2014

1875 Lawrence St.

$46,700,000

192,241

$242.92

May 2014

1600 Stout St.

$41,500,000

172,912

$240.01

April 2014

1801 Broadway

$37,000,000

195,753

$189.01

December 2014

700 Broadway

$70,000,000

423,562

$165.27

December 2014

475 17th St.

$16,600,000

151,425

$109.63

June 2014

Building Address

Downtown Denver’s Falling Vacancy Rates 16% 15% 14% 13%

9.7%

12%

VACANCY

11% 10%

Sources: CoStar (Q4 2014 data), Denver Business Journal, Denver Post, Downtown Denver Partnership

4Q - 2014

3Q - 2014

2Q - 2014

1Q - 2014

4Q - 2013

3Q - 2013

2Q - 2013

1Q - 2013

4Q - 2012

3Q - 2012

2Q - 2012

1Q - 2012

4Q - 2011

3Q - 2011

2Q - 2011

1Q - 2011

4Q - 2010

3Q - 2010

2Q - 2010

9%

1Q - 2010

2015 | STATE OF DOWNTOWN DENVER

8


9

Downtown Denver’s Rising Lease Rates

$31.16 /SF

$32 $31 $30 $29 $28

DENVER OFFERS THE PERFECT COMBINATION OF A HIGHLY-SKILLED WORKFORCE, SUPPORTIVE LOCAL AUTHORITY AND IDYLLIC LOCATION.

$27 $26

4Q - 2014

3Q - 2014

2Q - 2014

1Q - 2014

4Q - 2013

3Q - 2013

2Q - 2013

1Q - 2013

4Q - 2012

3Q - 2012

2Q - 2012

1Q - 2012

4Q - 2011

3Q - 2011

2Q - 2011

1Q - 2011

4Q - 2010

3Q - 2010

2Q - 2010

1Q - 2010

$25

- Ismail Ahmed

WorldRemit, Founder and CEO

The Sharing Economy Meets Office Space: Co-Working Options in Downtown Denver Options are expanding for companies and individuals looking for office space in Downtown Denver. In the past few years, the number of co-working and shared office spaces in Downtown Denver has increased significantly. Co-working and shared office spaces are attractive to tenants looking for more flexibility and affordability than most traditional office options provide and have been popular with startups and small businesses. Co-working spaces in Downtown Denver include Thrive, Green Spaces Shift Workspaces, Galvanize, Converge, Industry, Uncubed, Modworks and Battery 621.

collaboration and innovation, making industry-specific shared workspaces a natural fit. A new healthtechnology innovation campus, Stride, aims to disrupt the healthcare industry. Non-profit organizations have also seen the benefit of shared office space. The Alliance Center for Sustainability in LoDo houses “tenant-partners” who must all be committed to sustainability. Similarly, the Posner Center for International Development is an office space shared by over 60 organizations dedicated to finding solutions to global poverty.

Demand for this new type of office space is growing. Galvanize, one of Downtown Denver’s first coworking spaces, will open a second location on Platte Street this year and has spread its collaborative campus concept to other tech hubs like San Francisco and Seattle. Another major shared workspace concept, Industry, is expanding with two additional phases slated to open in the next year. A major benefit of shared workspace is increased

>


Downtown Denver is the economic hub of the Rocky Mountain West. • 120,871 people work in Downtown Denver. • Employment is up 11% since 2010 and up over 3% in the past year. • The largest industry in Downtown Denver is Professional and Business Services, representing almost a third of Downtown Denver jobs. • The following companies have recently relocated or plan to relocate to Downtown Denver: Ardent Mills, Granicus, JobAdder.com, Layer3 TV, Liberty Global, McKinsey & Co., Personal Capital, Skookum Digital Works, Signpost, Spencer Ogden, TransAmerica, WhiteWave Foods, WorldRemit and Zayo Group.

Employment in Downtown Denver is Increasing

DENVER HAS BECOME ONE OF THE MOST POWERFUL MAGNETS...[FOR] THE YOUNG AND EDUCATED - New York Times

Characteristics of Downtown Denver Workers: 120,871

Age • 20% are 29 or younger • 61% are between 30 and 54 • 19% are 55 or older

122 K 120 K 118 K 116 K

Gender

114 K

• 53% Male • 47% Female

112 K 110 K 108 K

2014

2013

2012

2011

2010

Race

2009

2015 | STATE OF DOWNTOWN DENVER

EMPLOYERS AND EMPLOYEES

10 9

• • • •

74% - White (not Hispanic or Latino) 14% - Hispanic or Latino 6% - Black or African American 3% - Asian

Innovation and Entrepreneurship in Downtown Denver Downtown Denver is a national hub of entrepreneurial activity and is consistently ranked a top city for startups by national media and research organizations. Startups are an important and growing part of Downtown Denver’s economy. Over 370 technology startups are located in Downtown Denver, employing over 3,000 people, and almost 8% of Downtown Denver businesses are startups. Startup business formation has been increasing significantly in recent years. Companies are drawn to Downtown Denver’s innovative culture and strong network of startups and early stage companies, which enables startup businesses to collaborate, communicate and convene. Downtown Denver is home to Denver Startup Week, the largest free entrepreneurial event in North America. In addition to this entrepreneurial ecosystem, startups in Downtown Denver have access to a highly-educated and growing workforce, 45,000 college and university students, and world-class amenities. Sources: Colorado Department of Labor and Employment Quarterly Census of Employment and Wages (Q2 2014 data), Development Research Partners, U.S. Census Longitudinal Employment Household Dynamics, Downtown Denver Partnership

>


11

| DOWNTOWN DENVER’S ROLE IN THE METRO DENVER ECONOMY Downtown Denver is the center of the thriving Metro Denver and Colorado economies. Employment growth in Downtown Denver, the Metro Denver Region, and the State of Colorado is significantly higher than the national employment growth.

DENVER’S TOP INDUSTRY

30%

25%

DOWNTOWN DENVER

METRO DENVER

30.6%

18.5%

professional & business services

20%

DOWNTOWN DENVER METRO DENVER

15%

10%

MANUFACTURING

TRANSP., WAREHOUSING AND UTILITIES

EDUCATION AND HEALTH SERVICES

OTHER SERVICES

WHOLESALE AND RETAIL TRADE

INFORMATION

NATURAL RESOURCES AND CONSTRUCTION

FINANCIAL ACTIVITIES

LEISURE AND HOSPITALITY

GOVERNMENT

PROFESSIONAL AND BUSINESS SERVICES

5%


2015 | STATE OF DOWNTOWN DENVER

12

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. • 69,872 people live in Downtown Denver and its City Center neighborhoods.

A Walk, Bike and Transit-friendly Downtown

• Downtown Denver’s projected growth rate in the next five years is over four times the national rate. • The City of Denver is one of the fastest growing cities in the U.S. In the past three years, Denver’s population has grown by 8.2% to 649,495 residents. Over two-thirds of this increase is due to net migration. Between 2010 and 2013, net migration for the City of Denver was almost 31,000. International net migration was 5,461 and domestic net migration was 25,484.

City Center Neighborhoods Downtown Denver

Average Walk Score

Average Transit Score

Average Bike Score

84

68

91

85

85

88

Scores out of 100, with 100 being the best

• Net migration of millennials to the Denver Metro Area since 2006 is the highest in the country, with Denver gaining an average of over 11,000 25-34 year-olds each year. • 3,973 residential units are under construction or planned for development in Downtown Denver. • As of the third quarter 2014, the average rent for a Downtown Denver one-bedroom apartment was $1,490. The vacancy rate for Downtown Denver apartments was 4.3%. • The average sales price for a home in Downtown Denver was $458,110 in 2014 (Q1, Q2 and Q3); homes sold for an average of $378/sf. • The average sales price for a home in the City Center neighborhood area was $363,442 in 2014 (Q1, Q2 and Q3); homes sold for an average of $311/sf.

Amenities in Downtown Denver Add Vibrancy to Downtown Living Residents in Downtown Denver are finding more and more amenities right at their front door, enhancing the downtown lifestyle and decreasing the need for residents to travel outside of downtown during the course of their days, nights and weekends. Two grocery stores, a flagship Whole Foods and King Soopers, are both under construction and scheduled to open within the next 24 months. Residents with families now have a new elementary school, the Downtown Denver Expeditionary School, with a middle school in the planning stages. Finally, Downtown Denver residents are a short walk or bike ride away from new restaurants in adjacent neighborhoods like Lower Highland, breweries that are locating in the River North district along Brighton Boulevard and the arts and culture district of the Golden Triangle. Sources: Nielsen SiteReports/Claritas, Downtown Denver Partnership, www.walkscore.com, Denver Metro Apartment Vacancy and Rent Survey, U.S. Census, Colorado Comps, Brookings

>


13

| DEMOGRAPHICS

downtown denver

city center neighborhoods

population

family vs. non-family households

2000 52,883

7,157

18%

2010 15,044

82%

22%

78%

owner vs. renter occupied households

60,497

2015* 18,914

69,872

26.6%

2020* 21,624

77,265

*growth 2015-2020: *estimate/projection

age & gender

F 43% M 57%

27.0%

73.0%

median owner-occupied housing value

164.3% 32.1% 14.3% 10.6% growth 2000-2015:

73.4%

$426,128

$339,302

households

F 45% M 55%

*34.1

*33.6

years

11,907

years

*median age

race / ethnicity

79.7% 7.7% 4.8% 4.4% 3.4%

70.5% 16.8% 6.6% 2.6% 3.5%

OTHER

ASIAN

BLACK

HISPANIC

WHITE

OTHER

ASIAN

BLACK

HISPANIC

WHITE

41,758 households with no vehicles

education / income ree deg

23.1%

*63%

$91,961

22.4%

average household size

$73,837 * residents with bachelor’s degree or higher

*56%

ee

average household income

gr

wit

h

w it h

de

1.41

1.57


Downtown Denver retail has something for everyone. • Over 1,000 retail establishments are located in Downtown Denver, providing ample options for eating, entertainment, shopping and more.

Sales Tax Collections in Downtown Denver are on the Rise

• The 16th Street Mall is the most popular shopping and entertainment destination among Metro Denver visitors.

$35 M

MILLION

$30 M $25 M $20 M $15 M $10 M

2013

2012

2011

2010

2009

2006

• Downtown Denver has 3,328,000 square feet of retail space with a 4.4% vacancy rate.

2008

$5 M

2007

Downtown Denver’s Share of the City of Denver’s Total Sales Tax Collection is Increasing

•  A curated collection of independent retailers and restaurants opened in the newly renovated historic Denver Union Station in July 2014, creating a new retail destination for Downtown Denver.

11.0%

•  Retail continues to thrive and evolve along the 16th Street Mall. New first in market and best in class concepts announced leases at the Denver Pavilions and a variety of high-quality eateries opened along the mall over the course of the past year.

5.0%

9.7%

10.0% 9.0% 8.0% 7.0% 6.0%

2013

2012

2011

2010

4.0%

2009

•  Over 75 retailers and restaurants opened in 2014.

2008

• The direct average lease rate for retail space in Downtown Denver is $28.01/sf.

*2014

• Businesses along the 16th Street Mall accounted for 35% of the total sales tax collected in Downtown Denver in the first three quarters of 2014.

$38

$40 M

2007

2015 | STATE OF DOWNTOWN DENVER

RETAIL AND RESTAURANTS

*first three quarters of 2014

DOWNTOWN DENVER HAS EVOLVED INTO A VIBRANT, CULTURALLY EXCITING PLACE TO HAVE MY FOUR RESTAURANTS.

Restaurants Account for Almost Half of Downtown’s Sales Tax Collection

14

- Jennifer Jasinski

Owner, Rioja, Euclid Hall, Bistro Vendome, Stoic and Genuine

5% manufacturing

6%

miscellaneous stores

7%

clothing + accessory stores

15% other categories (less than 4% each)

48% restaurants

19% hotel + other accommodation services

Sources: CoStar, Downtown Denver Partnership, City of Denver, Visit Denver


15

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| PEDESTRIAN ACTIVITY IN THE 16TH STREET MALL CORRIDOR DENVER UNION STATION

CIVIC CENTER STATION

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ST

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15TH ST

15TH ST

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AY DW OA

14TH ST

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DENVER PERFORMING ARTS COMPLEX

avg. daily pedestrian traffic

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Sat, Aug 30, 2014

9

Sat, Aug 2, 2014

5

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13

SA

ST

Sat, Aug 16, 2014

W

ER

AURARIA PARKW AY

8

TH

ST

ST

Sat, Dec 6, 2014

RY CR E

CH

3

CHER

E AV

CK

Sat, Oct 4, 2014

O NN

Sat, Dec 13, 2014

7

ST

6

Sat, May 24, 2014

AV

BA

I AT

CHOP

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Sat, Oct 18, 2014

2

FO X

ST

Top 10 days in 2014 by pedestrian traffic:

1

TH

T

GO PA

T

2 E1

W AR

LA

9TH S

BUSIEST HOUR GA

PEPSI CENTER

BUSIEST MONTH

PER C I R CL E

BUSIEST DAY

under 4,999 5,000 - 9,999 10,000 - 14,999 15,000 - 19,999 20,000 - 24,999 DE LA 25,000+

13TH ST

COLORADO CONVENTION CENTER

E

14TH ST

ST

O

RI CT AV E TH 13

S

A ST

DI UM

H

W

L IL AT UM

ST

ST

AJ AV

O

NI

12

TH

N

PL

H

A UM

ST

W

W

VIAD

SEM

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7T

E AV

A M LA KA

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ST

E AV

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W

AX LF CO

9T

LI

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IGH MILE H

W

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10

C IR


2015 | STATE OF DOWNTOWN DENVER

STUDENTS AND UNIVERSITIES The concentration of higher education institutions contributes to Downtown Denver’s vibrancy. • Over 45,000 students attend public, not-for-profit institutions of higher education in Downtown Denver.

Institution

Fall 2014 Enrollment

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

Metropolitan State University

21,179

University of Colorado Denver

14,369

• 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.

Community College of Denver

9,622

Colorado State University Executive MBA Program TOTAL

33 45,203

PROGRAMS TARGETED AT ENERGY EDUCATION, SUCH AS CU DENVER’S GLOBAL ENERGY MANAGEMENT PROGRAM, ARE A GREAT TOOL TO DEVELOP THE DOWNTOWN DENVER WORKFORCE AND HELP US RECRUIT AND RETAIN ENCANA EMPLOYEES.

- Doug Hock

16

Encana Oil & Gas (USA) Inc.

Sources: Downtown Denver Partnership, Auraria Higher Education Center, Metropolitan State University, University of Colorado Denver, Community College of Denver, Colorado State University


17

| INNOVATIVE HIGHER EDUCATION PROGRAMS IN DOWNTOWN DENVER

University of Colorado Denver Business School

Metropolitan State University of Denver

• Provides education programs and research in commodities markets, regulation, trading, financial fundamentals, investigating, risk management and ethics.

• One of the largest and most advanced collegiate aviation

J.P. Morgan Center for Commodities

• A  ims to become the global leader in commodities research and education.

Aviation and Aerospace Science Department programs in the country.

• Programs are specially-designed to meet workforce demands. • Opening in 2017, MSU’s new Aerospace and Engineering

• O  ffers an MBA specialization in commodities, undergraduate certificates in commodities and professional education.

Sciences Building will revolutionize aerospace and

• Downtown Denver business partners advise the center and provide internship and professional opportunities.

industrial design, computer information systems and

advanced manufacturing education in Colorado by integrating aviation, aerospace sciences, engineering, computer sciences in one location.

Community College of Denver

Auraria Campus

• Offers certificates and Associate Degrees in 3D

• In 2016, the Tivoli Park/Quad will be a shared campus

Modeling and Design, Machine Technologies, CNC

community space designed to support special events,

Manufacturing, CNC Management and Fabrication.

festivals and general social uses.

• Machining and Welding students are working on a

• A series of patios will be added to the side of the existing

Advanced Manufacturing

The Tivoli Park/Quadrangle

RockSat C project to build components for a NASA rocket

Tivoli building, one of which will serve as an outdoor beer

anticipated to launch in July 2015.

garden for the Tivoli Tap Room.

• Working with the U.S. Department of Agriculture Forest

• The Tivoli Park/ Quad project is another successful way

Service, faculty and students designed and built a fire

of connecting the Auraria Campus to Downtown Denver

prevention radio tower prototype.

and enhancing its public spaces.


MOBILITY Downtown Denver residents, employees and visitors have more mobility options than anywhere else in the region. • Over 60% of Downtown Denver employees use transit, walk, bike or share the ride to work. •  There are 30 on-street parking spots dedicated for carshare vehicles in Downtown Denver. •  185,815 B-cycle bikes were checked out from 31 Downtown Denver stations in 2014, a 49% increase since 2013. • Commuting by bike into Downtown Denver has increased 43% in the past year. • 42,009 off-street parking spaces are available in Downtown Denver. • The new RTD Union Station Bus Concourse opened May 9, 2014. It features a 22-gate underground bus facility that serves 16 distinct bus routes, including the new Free MetroRide.

TRANSIT DROVE ALONE BICYCLED CARPOOLED WALKED TELEWORKED MOTORBIKE VANPOOLED CHANGE FROM 2013

2015 | STATE OF DOWNTOWN DENVER

18

43.4% 38.3% 6.6% 4.6% 4.5% 1.4% 1.0% 0.2%

How Downtown Denver Employees Get to Work

i53% i34% i9% h22% i14% h43% n0% i3%

Downtown Denver Experiencing Surge in Mobility Options Downtown Denver is squarely in the middle of significant increases in transportation options, clearly responding to the 60% of Downtown Denver commuters who use transportation options to travel to work every day. Over the past 18 months, three new carshare programs and two on-demand transportation providers have expanded operations into Downtown Denver, a new protected bike lane has been added along 15th Street, and RTD introduced the Free MetroRide, a new shuttle running along 18th and 19th Streets between Denver Union Station and Civic Center Station. In the next 18 months, three new RTD commuter rail lines will open connecting the western, northern and eastern suburbs to Downtown Denver at Denver Union Station, as well as provide direct service to Denver International Airport, three new protected bike lanes will open on Arapahoe, Lawrence and 14th Streets, and a new on-street bicycle parking program will add new locations for Downtown Denver visitors to park their bicycles. Sources: Downtown Denver Partnership, City of Denver, Denver Bike Sharing, Regional Transportation District

>


FIVE POINTS

AV E FA X CO L E TREMONT PL

WELTON ST

GLENARM PL

15TH ST CHERRY CREEK TRAIL

N LI

SOUTH PLATTE RIVER

14TH ST

N

L CO ST

L CO

X

18.5 miles W

CHER

RY C R

ST

FA

K

OC

NN

BA

PLAT TE RIVER T R AIL

JEFFERSON PARK

WELTON ST

STOUT ST

16TH ST MALL SHUTTLE

16TH ST MALL SHUTTLE

CO NF PA LUE RK NC E

SPEER B LVD

CALIFORNIA ST

LAWRENCE ST

CURTIS ST

CHAMPA ST

WYNKOOP ST

18TH ST

AY DW OA BR

AIL DENVER UNION STATION

ARAPAHOE ST

LARIMER ST

MARKET ST

R TR

20TH ST

N OR SH RK HIR PA

current or future protected bike lane

BLAKE ST

IV E

Downtown Denver Bike Network

PLA TTE R

PARK AVE

19

EEK T

RAIL

RUDE PARK

Rail to Airport Coming in 2016

of bike lanes and trails in Downtown Denver convention center

35 minutes

by train from Denver Union Station to Denver International Airport

E SPE

ER BL VD


2015 | STATE OF DOWNTOWN DENVER

ENVIRONMENT 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.

WHEN IT COMES TO GREEN BUILDING AND URBAN SUSTAINABILITY, DOWNTOWN DENVER CONTINUES TO BE A TRAILBLAZER.

20

- Sharon Alton U.S. Green Building Council Colorado

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

Growing Network of Public Spaces in Downtown Denver Downtown 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 City of Denver are working on a cohesive master plan, Denver’s Outdoor Downtown: Turning Urban Spaces into Thriving Places. This plan will outline how Downtown parks and public spaces may be best utilized to serve a rapidly increasing population. Sources: U.S. Green Building Council Colorado, Certifiably Green Denver, Denver 2030 District, City of Denver, Downtown Denver Partnership

>


21


TOURISM Downtown Denver is a must-visit attraction for Denver area visitors. • Downtown Denver is home to 27 hotels with over 9,332 hotel rooms, which represent almost 22% of the hotel rooms in the entire Metro Denver region. • Downtown’s hotel market is enjoying high demand with increasing room nights and occupancy rates.

• Seven of the top 15 attractions for Metro Denver visitors are located in Downtown Denver. • In 2014, total occupied hotel room nights for Downtown Denver was 2,017,933.

• Downtown Denver’s award-winning Colorado Convention Center welcomed 918,616 visitors in 2014.

Hotel Occupancy

• The 16th Street Mall is the most popular shopping and entertainment destination among Metro Denver visitors.

80%

78.2%

85% 75% 70% 65% 60%

10,000

$120

American Physical Society

9,500

$110

True Value Company

9,500

American Veterinary Medical Association

9,000

Society of Cable Telecommunications Engineers

9,000

2014

Risk and Insurance Management Society, Inc.

2013

$130

Revenue Per Available Room

2012

12,000

2011

National Education Association

2010

17,000

2009

American Academy of Dermatology

2008

18,000

2007

Custom Electronic Design Installation Assn.

2006

19,000

2005

SnowSports Industries America

2004

45,000

2003

Great American Beer Festival

2002

58,500

2000

Colorado Crossroads Volleyball Tournament

2001

Major Conventions in Downtown Denver, 2014

$134.34

$140 $135 $125 $115 $100

2011

2012

2013

2014

Average Daily Room Rate

$171.86

$180 $170 $160 0 $150 $140 $130 $120

Sources: Rocky Mountain Lodging Report, VISIT DENVER, Downtown Denver Partnership

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

$110

2000

2015 | STATE OF DOWNTOWN DENVER

22


CULTURE, SPORTS AND EVENTS

23

Downtown Denver is becoming a 24/7 city with activity year-round. • Award-winning museums in Downtown Denver include the Denver Art Museum, Clyfford Still Museum, Denver Museum of Contemporary Art and History Colorado Center.

• 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.

• The Denver Performing Arts Complex in Downtown Denver is the second-largest performing arts complex in the U.S. with 10 performance spaces, including an opera house, concert hall and various theatres.

• 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 games at Sports Authority Field at Mile High.

SOUTHWEST RINK AT SKYLINE PARK

7

COLORADO AVALANCHE HOCKEY SEASON

DAYS

STARZ FILM FESTIVAL

JANUARY

ER DECEMB

Y

HT NIG IKE RB VE EN

JUNE

THURSDAY - PECHAK UCH A

VO L. 23

SU

NOV E

IDE FE ST

SATURDAY - PR

LIGHTS DE OF ARA SP W E 9N

OCTOBER BER SEPTEM

AY RID

F

UST

DOORS OPEN DENVER

MA

ART OF WINTER ICE SCULPTING EXHIB.

-D

3 PM

2 PM

DENVER ZOMBIE CRAWL

APRIL

4 PM

ALMOST HAPPY HOUR

1 PM

DENVER DERBY PARTY

MARCH

5 PM

11 AM

NATIONAL WESTERN STOCK SHOW PARADE

DENVER NUGGETS BASKETBALL SEASON

W E D NES DAY

AUG

JULY

USA PRO CHALLENGE

24

HOURS

LODO BITES

9 AM

ST. PATRICK’S DAY PARADE

LUNTEER FEST COLO RAD O

A TASTE OF COLORADO

CENTER PARK

RUNNIN’ OF THE GREEN

VO DAY TUES

7 PM

6 AM YOGA IN CIVIC

NEW YEARS EVE FIREWORKS

FEB R SH BA

FASHION SHOW

BIKE-IN MOVIES AT CIVIC CENTER PARK

GREAT AMERICAN BEER FESTIVAL

12 AM

10 PM OHHECK,YEAH!

8 PM ARTOPIA WHITEOUT

UP WE EK OP EN IN

G

DENVER BRONCOS FOOTBALL SEASON

Y NDA

N TI EE -M

DENVER RESTAURANT WEEK

MONDAY - START

Y UAR

ER MB

ET STRE THE

CINCO DE MAYO FESTIVAL

12

BIKE TO WORK DAY

MONTHS COLORADO ROCKIES BASEBALL SEASON


DENVER CIVIC VENTURES BOARD OF DIRECTORS 2014-2015 Board Officers

DOWNTOWN DENVER INC. BOARD OF DIRECTORS 2014-2015 Board Officers

Bill Mosher, Trammell Crow Company, Chairman

Walter Isenberg, Sage Hospitality, Chairman

Partnership Research Department. Staff

Trinidad Rodriguez, D.A. Davidson & Co., Vice Chairman

Rob Cohen, The IMA Financial Group, Inc., Vice Chair

authors, contributors and editors include:

Sarah Rockwell, Kaplan Kirsch Rockwell, Secretary

Travis Webb, BKD CPAs & Advisors, Secretary

Emily Brett, Aylene McCallum, John

Meg VanderLaan, MWH Global, Inc.

Bruce James, Brownstein Hyatt Farber Schreck

Desmond, Aneka Patel, Kate Barton, Tami

Tom Gougeon, Gates Family Foundation

Susan Powers, Urban Ventures LLC

Door, Bonnie Gross, Jim Kirchheimer, Kate

Evan Makovsky, NAI Shames Makovsky

Ralph Pace, US Bank

Lynch, Brian Phetteplace, Chloe Rekow and

Jennifer Johnson, HKS Architects, Chair Appointee Dr. Stephen Jordan, Metropolitan State Univ. of Denver, Chair Appointee

Members

CONTRIBUTORS AND EDITORS The State of Downtown Denver is a publication of the Downtown Denver

Brittany Morris Saunders.

Members Jim Basey, Centennial Bank Mike Bearup, KPMG LLP

INFORMATION SOURCES

Laura Aldrete, Parsons Brinckerhoff

Molly Broeren, Molly’s of Denver

Bruce Alexander, Vectra Bank Colorado

Kristin Bronson, Lewis Roca Rothgerber

Sueann Ambron, Univ. of Colorado Denver – Business School

Cedric Buchanon, BBVA Compass

Ray Bellucci, TIAA-CREF

Terrance Carroll, SCL Health

Ferd Belz,L.C. Fulenwider, Inc.

Chris Castilian, Anadarko Petroleum Corporation

Brianna Borin, Snooze AM Eatery

Stephen Clark, S. B. Clark Companies

Sarah Semple Brown, Semple Brown Design

Mark Cornetta, 9News

Ed Bucholtz, Hyatt Regency Denver

Dana Crawford, Urban Neighborhoods, Inc.

Marvin Buckels

Lori Davis, Grant Thornton

Frank Cannon, Continuum Partners

David Eves, Public Service Company, an Xcel Energy Co.

Dee Chirafisi, Kentwood City Properties

Cole Finegan, Hogan Lovells US LLP

Gene Commander, Polsinelli

Bob Flynn, Crestone Partners, LLC

Research Partners, Downtown Denver

Chris Crosby, The Nichols Partnership

Mark Goodman

Partnership, Metropolitan State University,

Kelly Dunkin, The Colorado Health Foundation

Jim Greiner, iTriage, LLC

Nielsen SiteReports/Claritas, Regional

Taryn Edwards, Saunders Construction Co.

Tom Grimshaw, Spencer Fane & Grimshaw, LLP

Transportation District, Rocky Mountain

Greg Feasel, Colorado Rockies Baseball Club

Michael Hobbs, Guaranty Bank and Trust Company

Lodging Report, U.S. Census, U.S. Census

Patty Fontneau, Cigna

Jim Holder, Cigna

Longitudinal Employment Household

Jerry Glick, Columbia Group LLLP

Kathy Holmes, Holmes Consulting Group

Dynamics, U.S. Green Building Council

Beth Gruitch, Rioja

Catherine (Katy) Jones-Metelko, Wells Fargo

Colorado, University of Colorado Denver,

Ismael Guerrero, Denver Housing Authority

Steve Katich, J.E. Dunn Construction Co.

VISIT DENVER, www.walkscore.com.

Randy Hammond, JPMorgan Chase

David Kenney, The Kenney Group

Amy Hansen, Polsinelli

Pete Khanna, TrackVia, Inc.

Jim Hearty, DaVita

Dick Kirk, Richard A. Kirk & Associates

Rus Heise

Gail Klapper, Colorado Forum

Doug Hock, Encana

Kim Koehn, K2 Ventures, LLC

Don Hunt

Mike Komppa, Corum Real Estate Group

Jim Johnson, JG Johnson Architects

Tom Lee, Newmark Grubb Knight Frank

Adam Lerner, Museum of Contemporary Art Denver

Harry T.Lewis, Lewis Investments

Traci Lounsbury, ELEMENTS

Laura Love, Groundfloor Media

Roland Lyon, Kaiser Foundation Health Plan of Colorado

Chad McWhinney, McWhinney

Cindy Parsons, Comcast

Karyn Miller, Craftsy

Ken Schroeppel, Univ. of Colorado Denver – Coll. of Arch. & Planning

John Moye, Moye White

Glen Sibley, Fleisher Smyth Brokaw

Will Nicholson

Mark Sidell, Gart Properties

Ray Pittman, CB Richard Ellis

David Sternberg, Brookfield Office Properties

Gary Reiff, Black Creek Group

Jean Townsend, Coley Forrest, Inc.

Jon Robinson, UMB

David Tryba, Tryba Architects

Maja Rosenquist, Mortenson Construction

Joe Vostrejs, Larimer Associates

Kathy Seidel, The Northern Trust Company

Elbra Wedgeworth, Denver Health

Charlita Shelton, University of the Rockies

Wendy Williams, Vector Property Services, LLC

Marc Spritzer, CoBiz Financial George Thorn, Mile High Development Tracy Winchester, Five Points Business District

DOWNTOWN DENVER BUSINESS IMPROVEMENT DISTRICT BOARD OF DIRECTORS 2015 Dorit Fischer, NAI Shames Makovsky, Chair Gina Guarascio, Jones Lang LaSalle, Vice Chair Josh Fine, Focus Property Group, Treasurer Susan Cantwell, The Gart Companies, Secretary Connie O’Murray, Jones Lang LaSalle Ed Blair, Mile High United Way Josh Comfort, Real Estate Development Services Rick Kron, Spencer Fane Britt and Browne, Legal Advisor

David Wollard Mike Zoellner, RedPeak Properties

Auraria Higher Education Center, Brookings, Certifiably Green Denver, City of Denver, Colorado Comps, Colorado Department of Labor and Employment Quarterly Census of Employment and Wages, Colorado State University, Community College of Denver, CoStar, Denver 2030 District, Denver Bike Sharing, Denver Business Journal, Denver Infill, Denver Metro Apartment Vacancy and Rent Survey, Denver Post, Development

GRAPHIC DESIGN Derek Berardi | www.derekberardi.com

PHOTOGRAPHY Ryan Dravitz Photography


DOWNTOWN DENVER’S VIBRANCY AND ECONOMIC VITALITY PLAY AN INTEGRAL ROLE IN THE SUCCESS OF OUR ENTIRE CITY. - Michael B. Hancock

Mayor City and County of Denver

Downtown Denver Partnership, Inc.

Published in March 2015 by:

Downtown Denver Partnership 511 16th Street, Suite 200 Denver, CO 80202 303.534.6161 www.downtowndenver.com

@Downtown_Denver Downtown Denver @DowntownDenver

Profile for DowntownDenver

2015 State of Downtown Denver  

Downtown Denver's encyclopedia. Published in March 2015.

2015 State of Downtown Denver  

Downtown Denver's encyclopedia. Published in March 2015.

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