DOWNTOWN DENVER PARTNERSHIP RELEASES RESIDENTIAL DEVELOPMENT MAP SHOWING POPULATION DOWNTOWN APPROACHES 73,000
The Downtown Denver Partnership issued the Center City Neighborhood
Residential Development Map and Profiles report (Residential
Development Map) which shows that 72,767 residents now call Downtown
Denver’s center city neighborhoods home. The Residential Development
Map also depicts 12,933 total residential units completed or under
construction since 2011.
The report supports the Downtown Denver Partnership’s commitment, as
outlined in the 2007 Downtown Area Plan, to create a diverse Downtown
that is socially and economically inclusive, including a commitment to add
18,000 new housing units to city center neighborhoods by 2027.
“The explosion of population growth in the center city, where some
neighborhoods have grown by more than 30 percent since 2010, is a
testament to our collective progress towards building an economically
healthy, growing and vital Downtown,” said Tami Door, president and CEO
of the Downtown Denver Partnership. “Residential development projects
and access to high-quality amenities and multi-modal transportation options
are critical components of attracting Downtown’s next generation workforce
who continue to place Downtown living in high demand.”
Highlights from the Residential Development Map also include:
- 15 neighborhoods comprise the center city for the report, with
residential development occurring at 98 projects across 13 of these neighborhoods since 2011. - Residential population in the center city has increased 15 percent since 2011.
- 2015 is the most active year in residential development since 2011, with 29 projects completed or under construction.
- There are currently 6,165 residential units under construction in the center city.
- 9 percent of the units completed or under construction since 2011 are rental units.
- Capitol Hill has the highest population (16,468 residents) within center city neighborhoods, while the Ballpark and Central Platte Valley neighborhoods have both experienced the largest percentage in population growth since 2010 (31 percent).
- The Central Platte Valley neighborhood, bolstered by the redevelopment of Denver Union Station, has also seen largest increase in residential units added or under construction since 2011 (3,808).
“Although we are well on our way to achieving our goal of adding new
housing units to Downtown, we know that we must continue to advocate for
a broad array of housing types to ensure that we achieve diversity in
housing type and affordability,” says Joe Vostrejs, chairman of the
Downtown Denver Partnership and partner at City Street Investors. “While
the residential development market is rising to increased demand, the
Partnership remains committed to advocating for the right mix of housing
options by supporting the passage of Denver’s proposed construction
defects ordinance, serving as members of the Homeownership Opportunity
Alliance, and continuing to collaborate with the City, our member
organizations and community leaders to reach our goal of a diverse and
inclusive place.”
Intended for developers, investors and brokers interested in Downtown
Denver, the Center City Neighborhood Residential Development Map and
Profiles report is designed to augment the Partnership’s annual Downtown
Denver Development Map and quarterly Development Map Updates to tell
the story of residential development throughout the center city. Tracking
development is a strategic action to ensure Downtown Denver continues to
be the primary economic hub in the region, as outlined in the 2007
Downtown Area Plan.