SECOND ANNUAL STATE OF DOWNTOWN DENVER REPORTS PROGRESS AND GROWTH OF HOSPITALITY INDUSTRY, DEVELOPMENT PROJECTS AND STUDENT POPULATION

The Downtown Denver Partnership hosted the second annual State of Downtown Denver breakfast this morning, an event attended by over 350 community members, business and civic leaders and Downtown employees.  The State of Downtown Denver event, which reached capacity weeks in advance, was sponsored by Newmark Grubb Knight Frank and featured presentations from Downtown Denver leaders highlighting the incredible growth Downtown Denver has experienced in the last year, specifically in the areas of hospitality, development and higher education.

“The strength, vitality and vibrancy of cities are critical to the success of our regions because this is what ultimately attracts companies, employees, residents and visitors and spurs growth in the state and the region,” said Tami Door, President and CEO, Downtown Denver Partnership. “Downtown Denver continued to see unprecedented growth over the past year. The State of Downtown Denver report explores the various aspects of Downtown’s success in order to provide business leaders with timely information to make investment decisions that impact our center city.”

The State of Downtown Denver featured presentations from:

  • Paul Washington, Executive Director of the City’s Office of Economic Development, who stressed the economic importance of Downtown Denver in relation to the rest of the city;
  • Walter Isenberg, President & CEO, Sage Hospitality, who commented on the hospitality industry’s growth in Downtown Denver;
  • Bill Mosher, Senior Managing Director, Trammel Crow Company, who discussed Denver Union Station’s role in Downtown Denver’s booming development; and
  • Barbara Weiske, Executive Director, Auraria Higher Education Center, who presented on the Auraria Higher Education Center’s work to densify the campus and better connect the campus to the rest of Downtown Denver.

During the event, the Downtown Denver Partnership, released the third annual State of Downtown Denver report, a fact-driven report created in collaboration with the Downtown Denver Business Improvement District, which provides timely, objective and accurate data about Downtown Denver.  Presented by Newmark Grubb Knight Frank, the report shows that Downtown Denver remains the hub of the region with approximately 115,000 employees, 17,500 residents in the urban core, almost 66,000 residents in the city center neighborhoods and 55,000 students.

The report shows Downtown Denver’s progress in creating an environment attractive to drivers of the new economy, such as the Millennial generation and start-ups, and tracks everything from the average square foot lease rates to things like attendance numbers at cultural facilities and miles of bike lanes throughout Downtown Denver.  Key findings in the State of Downtown Denver report include:

  • Downtown Denver projects completed in the last year represent $636,000,000 of investment into Downtown Denver
  • Downtown Denver’s projected growth rate is five times the national average
  • 7,000 residential units are under construction or planned for development in Downtown and surrounding neighborhoods
  • 115,020 people work in Downtown Denver
  • Downtown Denver has approximately 27.1 million square feet of office space
  • 17,528 residents live in Downtown Denver, a 142% increase since 2000
  • 55,000 students attend classes in Downtown Denver
  • 26 projects are currently under construction, representing approximately $1.8 billion in investment from both the public and private sectors

To read the full report, click here.

To view the PowerPoint presentation from the event, click here.

 

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