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
FA X
STATE CAPITOL
AY DW OA
BR
• Building on Transit SPEER BLVD
Diverse
DENVER PERFORMING ARTS COMPLEX
PEPSI CENTER
CENTRAL PLATTE VALLEY AURARIA
AURARIA PAR KWA Y
• Grand Boulevards
SOUTH PLATTE RIVER
• Bicycle City • Park the Car Once
CO L
COMMERCIAL CORE LODO
.
CENTRAL PLATTE VALLEY COMMONS
AV E
. ST
• An Outstanding Pedestrian Environment
T AN GR
Walkable
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
AX LF CO
E AV
E SPEE
R BLVD
• 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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CHERRY CREEK TRAIL
17TH ST SH
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JO
| DOWNTOWN DENVER DEVELOPMENT: 2007-2015 E3
E2
E AV
5 7
COMPLETED
E AV
24TH ST
PARK AVE
ST
ST
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
E1
6 TREMONT PL E1 8T H AV E
GLENARM PL
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CALIFORNIA ST
STOUT ST
CHAMPA ST
CURTIS ST
ARAPAHOE ST
LAWRENCE ST
LARIMER ST
MARKET ST
BLAKE ST
WAZEE ST
ST
WYNKOOP ST
ST
AN M
18TH ST
ER SH
18TH ST
N
T TS AN GR
19TH ST
19TH ST
LO
GA
CHESTNUT PL
| PEDESTRIAN ACTIVITY IN THE 16TH STREET MALL CORRIDOR DENVER UNION STATION
CIVIC CENTER STATION
17TH ST
LI
CLEVELAND PL
COURT PL
ST
BR
15TH ST
15TH ST
STATE CAPITOL
N OL NC
16TH ST MALL
AY DW OA
14TH ST
12TH S T
DENVER PERFORMING ARTS COMPLEX
avg. daily pedestrian traffic
SATURDAY AUGUST NOON 1 2T H
ST
ER ST
ES
LARIM
4
Sat, Aug 30, 2014
9
Sat, Aug 2, 2014
5
Sat, May 31, 2014
10
Sat, Nov 29, 2014
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Sat, Dec 6, 2014
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Sat, Oct 4, 2014
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Sat, Dec 13, 2014
7
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6
Sat, May 24, 2014
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Sat, Oct 18, 2014
2
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Top 10 days in 2014 by pedestrian traffic:
1
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GO PA
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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
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ST
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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