2018 State of Downtown Denver - Downtown Denver Partnership
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State of Downtown Denver 2018
Table of Contents
01 Key Facts
02 Year in Review
05 Rankings 12 Mobility
06 Development 14 Residents
08 Office Market 16 Retail
10 Talent 18 Public Space
20 Tourism
22 Benchmarking
Produced by the Downtown Denver Partnership, a non-profit
business organization dedicated to building an economically
powerful center city.
downtowndenver.com
Highlights
2018 State of Downtown Denver
39.3% of downtown downtown residential 74% increase in tech
employees commute population has tripled employment since
by transit since 2000 2010
“With the abundance
of talent in Denver, we
know it’s a perfect fit.”
– James Quarles,
133,500 downtown CEO, Strava
$2.3 billion of investment
employees, an all through developments in
time high the pipeline
68% of downtown residents
265
tech startups formed 3.3% retail
have a bachelor’s degree over the past three vacancy rate in
or higher years Downtown Denver
79 average hotel
occupancy in Downtown
%
45,000 college
students in Downtown
4,525 residential
units in the
Denver Denver pipeline
1
Produced by the Downtown Denver Partnership
Year in Review
Downtown Denver enjoyed a record-setting year in 2017. This growth
and prosperity is driven by the Downtown Denver Partnership’s vision
and strategy to build an economically powerful center city.
Record-Setting Year
The rise of Downtown Denver continued throughout 2017 and the first half of 2018, establishing record highs
for employment, residents, hotel occupancy, and tech startup formation. City builders throughout Denver have
supported investments that are providing an extraordinary return—investments in strategic planning, transit,
arts and culture, technology, infrastructure, parks and recreation, conventions and visitors have all created an
environment that has propelled our economically powerful center city forward.
Highlights from the 2018 State of Downtown Report include:
+ Downtown’s residential population has tripled since 2000, with nearly 23,000 people now living downtown.
+ Employment downtown reached a record-high of 133,478 people, which is up 2.5% from last year.
+ Over $1.35 billion in new development was completed in 2017 and early 2018, with another $2.26
billion under construction or planned.
+ Retail downtown experienced a solid growth year, with retail sales tax collections up 6.4% year-over-year.
+ Hotel performance is achieving modern day records with an average 79% occupancy rate and $186
average daily room rate for downtown hotels in 2017.
+ Technology employment is up 74% since 2010 with 626 technology businesses located in
Downtown Denver.
2
> 2007 Downtown Area Plan
Mid-Point Reflection
The 2007 Downtown Area Plan set forth a 20-year vision to make Downtown Denver one of the most livable places in the
world. Ten years into the plan, the next generation of downtown leaders are marking its mid-point with a determination to
keep the plan relevant with focused energy for the next ten years. To achieve a vibrant, economically healthy, growing and
vital downtown, Denver is showing a sustained effort in each of the plan vision elements, Prosperous, Walkable, Diverse,
Distinctive, and Green. This continued effort reflects downtown’s commitment to planning
with a purpose, building our center city, and making meaningful impact.
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All data in this report uses
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the Downtown Denver
HIGH ST
boundary, unless
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3
Produced by the Downtown Denver Partnership
>
4
Photo Credit: Keri Geha
Rankings
1 1
Highest increase in Top metro for small
skilled labor business employment
- JLL, 2018 - Paychex, 2018
1. Denver, CO 1. Denver, CO
2. Washington, D.C. 2. Seattle, WA
3. Philadelphia, PA 3. Houston, TX
4. Boston, MA 4. Dallas, TX
5. Portland, OR 5. Riverside, CA
3 3
Third best place to Third fastest growing
live in the U.S. large city
- US News and World Report, 2018 - WalletHub, 2018
1. Austin, TX 1. Austin, TX
2. Colorado Springs, CO 2. Charlotte, NC
3. Denver, CO 3. Denver, CO
4. Des Moines, IA 4. Seattle, WA
5. Fayetteville, AR 5. Nashville, TN
4 4
Fourth best place for Fourth best city for
business and careers working women
- Forbes, 2017 - MagnifyMoney, 2018
1. Portland, OR 1. Washington, D.C.
2. Raleigh, NC 2. Minneapolis, MN
3. Seattle, WA 3. Sacramento, CA
4. Denver, CO 4. Denver, CO
5. Des Moines, IA 5. San Francisco, CA
4 5
Fourth most exciting food Fifth best economy
city in America among large US cities
- Zagat, 2018 - Business Insider, 2018
1. Los Angeles, CA 1. San Jose, CA
2. Austin, TX 2. San Francisco, CA
3. Chicago, IL 3. Austin, TX
4. Denver, CO 4. Seattle, WA
5. Seattle, WA 5. Denver, CO
5
Produced by the Downtown Denver Partnership
Development
With record setting numbers of downtown jobs, residents, and visitors,
developers are finding downtown a prime location for new investment,
with $2.3 billion of projects in the pipeline.
+ In 2017 and early 2018, 17 projects were completed in Downtown Denver, totaling $1,352,880,000 in
investment and adding 1,711 residential units, 1,141 hotel rooms, and 1.1 million square feet of office.
+ As of mid-2018, there are 27 projects under construction and 8 planned for development in Downtown
Denver, totaling $2,260,160,000 of investment and adding 4,525 residential units, 772 hotel rooms, and
2.7 million square feet of office to Downtown Denver.
+ The largest office project completed in the past year was Hines’ 1144 Fifteenth Street, a 40-story, 670,000
square foot, spec office tower that was nearly fully leased at opening in spring 2018.
+ The largest residential project completed in the past year was Holland Partner Group’s Union, adding 579
apartments adjacent to Denver Union Station and anchored by a flagship Whole Foods Market.
+ The largest hotel project completed in the past year was White Lodging’s Le Meridien/AC Hotel, featuring
495 new hotel rooms, 12,000 square feet of meeting and event space, and an outdoor rooftop bar.
$4.4 Billion Invested Over 5 Years
$4.3
B
M
M
M
M
.5
75
42
80
40
$1
$9
$7
$2
$9
2014 2015 2016 2017 2018 (projected)
“
Denver continues to see strong
demand from capital investors
nationally and now globally. We see
this demand continuing and look
forward to Denver’s continued rise as
a destination for investment capital.
6 – Mark Katz Photo Credit: Ryan Dravitz
Senior Managing Director, HFF
> Building for Growth
52
projects completed in
2017 & 2018, under
construction, or
planned
Residential Office Hotel
Units Added SF Added Rooms Added
6,236 3,807,514 1,913
Leads to Leads to Leads to
capacity for capacity for capacity for
7,700 13,400 680,000
NEW DOWNTOWN NEW DOWNTOWN NEW DOWNTOWN
RESIDENTS EMPLOYEES VISITOR NIGHTS
(Estimated) (Estimated) (Estimated, annual)
7
Produced by the Downtown Denver PartnershipOffice Market
A downtown office location provides exceptional access to our regional
talent pool and mobility options, driving 2.5% employment growth year-
over-year and attracting a steady stream of business expansions.
+ Employment in Downtown Denver is at an all-time high of 133,478, a 2.5% year-over-year increase,
compared to 1.9% year-over-year increase metro-wide and a 1.2% increase nationwide.
+ Downtown Denver has a total of 38,000,000 square feet of office space, up over 2% year-over-year.
+ While vacancy rates have increased slightly over the past few years to 11.4%, average lease rates have
held steady at around $33/sf.
+ Downtown’s largest sectors are Professional/Business Services (31% of total employment), Government
(19%), Leisure/Hospitality (16%), Financial Activities (12%), and Natural Resources/Construction (7%).
Largest Downtown Denver Employers*
• Accenture • Comcast • Hyatt Regency Hotel • TIAA • Wells Fargo
• ALPS Fund Services • DaVita HealthCare at the Colorado • Transamerica • Xcel Energy
• Anadarko Petroleum Partners Convention Center Investments &
• Anthem Blue Cross • Deloitte LLP • KPMG LLP Retirement *list includes
Blue Shield • Encana • Mortenson Company • US Bank private, for-profit
• Gates Corporation • Sheraton • Vertafore employers only
• CenturyLink
Downtown Denver
Downtown Denver Office
Office Market
Market Trends
Trends Total DowntownEmployment
Total Downtown Employment
Direct Vacancy Rates Direct Average Lease Rates (Per Square Foot) 135K
16% $35 130K
125K
120K
$30 115K
11% 110K
$25 105K
100K
6% $20
’10 ’11 ’12 ’13 ’14 ’15 ’16 ’17
1Q-15
2Q-15
3Q-15
4Q-15
1Q-16
2Q-16
3Q-16
4Q-16
1Q-17
2Q-17
3Q-17
4Q-17
8
“ Denver is geographically central to our business and will be a great location
for our new headquarters and employees, offering a high quality of life,
affordability, and access to premium cultural and recreational activities.
– Dave Welling, CEO, Mercer AdvisorsRecent Relocations and Expansions
Companies that have announced a headquarters relocation or new office in Downtown Denver this past year include:
• Accelo • DTT Surveillance • Mercer Advisors • Strava • Thanx
• Apple • Marketo • Mindflash • Switchfly • Vertafore
• ChannelAdvisor • Mavrck • RLH Corp. • Tapingo • Xactly
> Technology Hub
Increasing Employment in Tech Industry
12,000
74% 10,000
8,000
6,000
Increase in tech
employment in Downtown 4,000
Denver since 2010
2,000
2013 2014 2015 2016 2017
10,000+
People are employed by high tech
63%
Growth in tech
companies from
companies in Downtown Denver 2010 to 2017
Tech employment represents
8% of total downtown
employment
Increasing Technology Business Formation
{
209 46 50 56 70 94 101
626 tech
2017 businesses in
Downtown Denver
Years in
7+ 6 5 4 3 2 1 in 2017
{
business 384 tech
2010 businesses in
Downtown Denver
in 2010
147 27 25 43 38 47 57
9
Definition of "technology sector" follows NAICS codes for businesses in the high tech sector as defined by the
Colorado Technology Association. Data from the Quarterly Census on Workforce and Wages.
Produced by the Downtown Denver PartnershipTalent
Downtown Denver’s highly educated and in-demand workforce is
growing to support the center city as an epicenter of business
and innovation.
+ A downtown office location provides access to Metro Denver’s exceptional and growing labor force of
over 1.6 million, 44% of whom have a bachelor’s degree or higher.
+ Metro Denver’s unemployment rate stands at 2.7%, one of the lowest in the country. Strong
population growth balances a tight labor market. According to the 2017 Census population estimates,
the City of Denver grew by 10,000 residents last year and Metro Denver grew by 36,000 residents.
+ Over 45,000 students attend public, not-for-profit institutions of higher education in Downtown
Denver, with an additional 10,000 attending various trade and private institutions that have classroom
space downtown.
+ The Auraria Higher Education Center 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 (19,401 students), Metropolitan State University of Denver (15,008 students), and the
Community College of Denver (9,013 students).
+ Downtown is home to many of the region’s leading coding schools and bootcamps including Galvanize,
General Assembly, SecureSet, Skill Distillery, and Turing School of Software and Design.
“ Denver has so many
things going for it — an
existing top-level talent
pool, a burgeoning tech
scene, and an overall
environment conducive
to helping us grow
both our business and
the business of our
customers.”
– Amy Zupon
CEO, Vertafore
10“ Denver has proven
to be an incredibly
dynamic hub for
talent.
– David Collier
VP of Sales, Thanx
> Access to Metro Denver’s
Robust Workforce
1,817,000 +260,000 100 PEOPLE
total Metro Denver Metro Denver Metro Denver's
labor force population growth approximate daily
2012-2017 population growth
150K+
44%
68%
percentage of Downtown percentage of Metro Denver students enrolled at
Denver population with population with bachelor’s Metro Denver colleges
bachelor's degree or higher degree or higher and universities
11
Produced by the Downtown Denver PartnershipMobility
Downtown Denver’s extensive network of mobility options is
central to its strength and attractiveness as the economic hub
of the region.
+ Downtown Denver has 9 rail lines, 19.4 miles of bike lanes and trails, 60 RTD bus routes including RTD
Free MallRide and Free MetroRide, an extensive bike sharing network, and 4 carshare companies with 21
dedicated parking spaces.
+ Almost 60% of the Downtown Denver workforce uses transit, bikes, walks or shares the ride for its
commute to work. The greatest increase in commuter mode share over the past five years is among
bicycle use, which has almost doubled.
+ Transportation infrastructure continues to expand in Downtown Denver. Over the past year, Civic Center
Station reopened after a $31 million renovation; portions of 19th and 20th Avenues and Grant and
Logan Streets were converted to two-way complete streets with bicycle facilities; and the 14th Street
bike lane was upgraded to a parking protected facility from Market Street to Court Place.
How 133,500 employees commute to downtown:
Transit Drive Alone Bike Walk Carpool Telework Motorbike Lyft/Taxi/Uber Vanpool
39.3% 39.0% 8.3% 5.4% 4.0% 2.2% 0.9% 0.9% 0.1%
“ In the process of relocating our
regional headquarters to Downtown
Denver, our employees ranked access
to transit as one of the top two criteria
for a new office. Denver’s investment
in a strong mobility network is
increasingly important as we grow
our footprint here.
– Heather Larrabee
12 Executive Director of Marketing,
Photo Credit: RTD
Whole Foods Market> Mobility Options in
Downtown Denver
Denver
International
Airport
Downtown 20
Denver TH
ST
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PA
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RK
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DE N S
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B I O B
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Bicycle Facility
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Protected Bicycle
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B
B
LV
B B-Cycle Stations
D
Transit Center
13
Produced by the Downtown Denver PartnershipResidents
Attracted to vibrant walkable districts and high-quality residential
amenities, more people than ever before are choosing to live in
Downtown Denver and its center city neighborhoods.
+ 80,271 people live in the center city boundary and 22,801 live in the Downtown Denver boundary.
+ The City of Denver has experienced rapid growth in recent years, adding over 100,000 residents since
2010. While annual population growth has slowed slightly from its peak in 2015, the city continues to
add close to 30 people each day.
+ 4,525 residential units are under construction or planned for development in Downtown Denver.
+ The average rent for a one-bedroom apartment in Downtown Denver is $1,734 and the average rent for
a one-bedroom apartment in the center city is $1,462.
+ The average price of the 537 homes sold in Downtown Denver in 2017 was $583,000, and homes
sold for an average of $458/sf. In the center city neighborhoods, 1,535 homes sold in 2017 for an
average sales price of $495,000 at an average of $411/sf.
+ The recent wave of apartment construction in Downtown Denver has brought the ratio of jobs to
apartment units to a healthy 5.9 jobs per unit. According to a CBRE study, that ratio remains higher
than many other peer markets, showing additional potential demand for apartment homes.
DowntownDenver
Downtown Denver 199%
Residential Growth
population
Residential Growth growth
25,000
20,000
15,000
10,000
5,000
2000 2010 2018
census census estimate
Center
CenterCity
City 43%
Residential
ResidentialGrowth
Growth population
growth
90k
80k
70k
60k
50k
40k
30k
20k
10k
2000 2010 2018
14 census census estimateDowntown Denver demographics Center City Neighborhood demographics
Educational Attainment
42% 39% bachelor’s degree
or higher:
2% 2% bachelor’s degree
68%
18% 16%
doctorate
degree master’s degree
6% 4%
professional
61%
school degree
Age & Gender Race / Ethnicity
F 44% F 45%
M 56% M 55%
76% 8% 4% 5% 6% 64% 16% 7% 3% 10%
*34.3 *33.8
years years
WHITE
HISPANIC
BLACK
ASIAN
OTHER
WHITE
HISPANIC
BLACK
ASIAN
OTHER
*median age
Households Household Types
14,226 81% 78% 4% 9%
Non-family Family
Household (with child/children)
47,849
$120,099
13% 10% 2% 3%
Family Family
(Married, No Child) (Other, No Children)
average household income
Average Household Size
$92,595 1.4 1.6
household members household members
15
Produced by the Downtown Denver PartnershipRetail
New jobs, residents and visitors attracted to a thriving downtown
have generated extraordinary demand for new goods, services, and
entertainment options, with retail sales up 6.4% year-over-year.
+ Downtown Denver has over 4,000,000 square feet of retail space with a 3.3% vacancy rate (down
31% year-over-year) and a direct average lease rate of $24.90 (up 5% year-over-year).
+ Retail sales tax collections in Downtown Denver have increased over 60% since 2010. Retail sales
in Downtown Denver are increasing at a faster rate than retail sales in the City and County of
Denver overall.
+ Over two-thirds of Downtown Denver residents fit the “Metro Renters” Tapestry Segment. This
demographic group is characterized by educated young-professionals who tend to rent vs. own,
have higher than average incomes, prefer travelling without a car, and tend to live alone or with
a roommate. The second most common segment is “Laptops and Lattes,” who represent 20% of
downtown residents. This segment has very high labor force participation rates, high salaries, and
are health-conscious, environmentally-conscious, and image-conscious consumers.
Key Retail Sephora FlyWheel Free Market
Announcements
& Openings Target Whole Foods Warby Parker
Increasing Retail Sales Retail Distribution 12% 3%
other manufacturing
Total Retail Sales Tax
$60M 6%
bus. admin.,
$50M waste/remediation
$40M 5%
information +
$30M distributors
$20M 7%
clothing +
$10M accessory stores
43% 24%
’10 ’11 ’12 ’13 ’14 ’15 ’16 ’17 restaurants hotel + other
accommodation services
16
“ Target is thrilled to bring our first small-format store to Colorado and be
part of a thriving community in Downtown Denver.
– Mark Schindele, Senior Vice President,
Properties, Target>
17
Produced by the Downtown Denver PartnershipPublic Space
Downtown Denver’s public spaces function as the city’s front
yard, connecting and engaging tens of millions of people
each year.
+ Downtown Denver has 152 acres of parks and open spaces, including Commons Park (20 acres),
Civic Center Park (12.5 acres), and Skyline Park (3.2 acres).
+ Shoemaker Plaza renovations were completed in 2017 and now offer greater and safer access to the
Platte River with wider pedestrian and bike access.
+ Since 2014, the urban tree canopy has grown by over 18% in the Downtown Denver Business
Improvement District. Due to a 2012 streetscaping project that increased the available soil volume
for each tree, the tree canopy increased by 54% on 14th Street.
“ Denver is an outdoor city where our parks and public spaces are exceptional places that
are a daily part of our urban lifestyle. The Outdoor Downtown master plan, completed
in 2017, builds on our outdoor spirit and outlines key implementation strategies to
realize the full potential of our great parks and public spaces.
– Wendy Williams, Director of Property Management, Vector Property
Services, Co-Chair Outdoor Downtown Plan Executive Committee
5280 Loop -
A New Public Space
The Downtown Denver Partnership is nearing
completion of the conceptual design for the 5280
Loop, a new and distinctly Denver amenity that
will connect many vibrant and diverse center city
neighborhoods through the great urban outdoors,
creating a powerful sense of place. The 5.280-mile
trail will transform underutilized streets to better
link neighborhoods and connect people. Based on
input from over a thousand downtown stakeholders,
the 5280 Loop design repurposes our shared public
spaces to create new green space and an intuitive
and a safe route for the center city’s rapidly growing
population of residents, employees and visitors to
use active modes of transportation while engaging
18 in downtown’s unique neighborhoods, cultural
landmarks, civic facilities and more.>
19
Produced by the Downtown Denver PartnershipTourism
Premier hotels, award-winning restaurants, and a world-class
convention center, all connected by rail to the fifth busiest airport in
the country, make Downtown Denver a global destination.
+ Denver International Airport (DEN) Average DailyRoom
RoomRate
Rate
Average Daily
is the fifth-busiest airport in the
$200
U.S., serving more than 61 million
$180
travelers annually. DEN serves over
190 nonstop destinations, including $160
26 international destinations in 11 $140
countries.
+ Denver tourism has been setting ’12 ’13 ’14 ’15 ’16 ’17
visitor records for 11 consecutive
years, according to VISIT DENVER’s RevenuePer
Revenue PerAvailable
Available Room
Room
annual visitor profile study. Denver $150
welcomed 17.3 million overnight $140
visitors in 2016, driven by an $130
increase in leisure travelers, who $120
spent $5.3 billion. $110
$100
+ The Colorado Convention Center,
which hosts nearly 1 million ’12 ’13 ’14 ’15 ’16 ’17
attendees in the heart of Downtown
Denver each year, will be undergoing
a major renovation and expansion Hotel Occupancy
Hotel Occupancy
80%
beginning in 2019. The fully-funded
expansion will make the Center the 78%
most high-tech, user-friendly meeting 76%
and event space in the nation by
74%
adding 80,000 square feet of flexible
meeting space, 60,000 square feet 72%
of pre-function space and a 50,000
square foot outdoor rooftop terrace, ’12 ’13 ’14 ’15 ’16 ’17
all of which will have views of the
Rocky Mountains as well as the
Downtown Denver skyline.
Hotel Occupancy
Hotel Occupancy byby Month
Month
100%
+ Outdoor Retailer, the largest outdoor 90%
recreation expo and conference 80%
in the country, chose Downtown
70%
Denver as its new home beginning in
2018. Outdoor Retailer attracts over 60%
85,000 attendees annually across 50%
three shows (January, June/July, and
20
40%
November) with an economic impact
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
of $110 million.> Downtown Denver
Hotel Scene
38 hotels and
10,300 hotel rooms
Over 500,000 sf
of hotel meeting
space
2,436 hotel rooms
added over the
past five years
$186 average
daily room rate
79% hotel
occupancy
$147 Revenue Per
Available Room
Photo Credit: City of Denver
21
Produced by the Downtown Denver PartnershipBenchmarking
With our rapid rise in recent years, Denver has moved up in weight
class and now compares favorably with the best of the best cities
across the country.
Peer-to-Peer Review
Each year the State of Downtown Denver provides the development community a comprehensive,
year-over-year analysis of the economic performance of Downtown Denver. This year, we are adding a
benchmarking analysis, showing how Denver compares with 14 other peer and aspirational markets.
This exercise is intended to help provide context to the growth and development of the area. Compared
to our past, Denver has experienced extraordinary growth; compared to our peers, we see opportunities
to get even better.
Key Performance Indicators Among 15 Selected Metro Areas
Population Growth Educated Millennials Office Rent
Pop. increase 2010-2017 % college grads age 25-34 Avg. asking rent/sf, direct
(Source: US Census data) (Source: Brookings) (Source: JLL)
1. Austin 22.5% 1. San Francisco 54.8% 1. New York City $74.34
2. Dallas 14.7% 2. Washington DC 53.6% 2. San Francisco $73.44
3. Nashville 13.6% 3. New York City 47.5% 3. Los Angeles $39.75
4. Denver 13.1% 4. Minneapolis 46.9% 4. Austin $37.61
5. Phoenix 12.7% 5. Denver 46.0% 5. Washington DC $37.26
6. Seattle 12.2% 6. Austin 45.1% 6. Seattle $35.13
7. Atlanta 11.0% 7. Seattle 44.8% 7. Chicago $31.26
8. Salt Lake City 10.2% 8. Chicago 43.7% 8. Portland $28.04
9. Portland 9.9% 9. Nashville 41.9% 9. Denver $27.02
10. Washington DC 9.7% 10. Portland 40.7% 10. Dallas $26.64
11. San Francisco 8.8% 11. Atlanta 39.0% 11. Minneapolis $25.79
12. Minneapolis 7.3% 12. Los Angeles 34.8% 12. Nashville $25.78
13. Los Angeles 4.0% 13. Dallas 34.8% 13. Phoenix $24.91
14. New York City 3.7% 14. Salt Lake City 34.2% 14. Atlanta $24.17
15. Chicago 0.7%
22 15. Phoenix 29.2% 15. Salt Lake City $20.70Traffic Congestion Startup Density Gross Metro Product
Hours in traffic during peak # of startups per 1,000 firms GMP increase 2011-2016
(Source: INRIX) (Source: Kauffman Foundation) (Source: Brookings)
1. Salt Lake City 17 1. Austin 104.54 1. Austin 28.5%
2. Nashville 33 2. Dallas 94.17 2. San Francisco 25.9%
3. Phoenix 34 3. Denver 92.31 3. Nashville 23.5%
4. Denver 36 4. Los Angeles 92.26 4. Dallas 20.4%
5. Minneapolis 41 5. Phoenix 92.12 5. Denver 19.5%
6. Austin 43 6. Atlanta 89.93 6. Seattle 18.9%
7. Portland 50 7. San Francisco 86.50 7. Salt Lake City 15.6%
8. Dallas 54 8. New York City 86.48 8. Atlanta 14.9%
9. Seattle 55 9. Seattle 84.97 9. Los Angeles 14.5%
10. Chicago 57 10. Portland 82.82 10. Phoenix 11.8%
11. Washington DC 63 11. Nashville 82.22 11. Minneapolis 10.5%
12. Atlanta 70 12. Washington DC 78.05 12. New York City 8.2%
13. San Francisco 79 13. Chicago 74.68 13. Chicago 7.5%
14. New York City 91 14. Minneapolis 72.52 14. Washington DC 4.5%
15. Los Angeles 102 15. Salt Lake City n/a 15. Portland 2.5%
Job Growth Apartment Rent Young Firm Growth
Non-farm job growth 2010-2017 Median rent for 1-bedroom Increase in jobs 2011-2016
(Source: BLS) (Source: aparmentlist.com) (Source: Brookings)
1. Nashville 39% 1. San Francisco $2,440 1. Austin 34.4%
2. Austin 37% 2. New York City $2,070 2. Salt Lake City 26.0%
3. Dallas 26% 3. Los Angeles $1,350 3. San Francisco 24.1%
4. San Francisco 26% 4. Washington DC $1,320 4. Nashville 24.1%
5. Denver 26% 5. Seattle $1,320 5. Denver 20.5%
6. Salt Lake City 25% 6. Portland $1,130 6. Atlanta 15.6%
7. Seattle 23% 7. Austin $1,120 7. New York City 12.8%
8. Phoenix 23% 8. Chicago $1,070 8. Portland 12.3%
9. Portland 22% 9. Denver $1,040 9. Dallas 11.8%
10. Atlanta 22% 10. Atlanta $1,010 10. Los Angeles 8.5%
11. Los Angeles 16% 11. Minneapolis $910 11. Chicago 7.1%
12. Minneapolis 15% 12. Nashville $910 12. Seattle 6.1%
13. New York City 15% 13. Dallas $880 13. Washington DC 4.8%
14. Washington DC 13% 14. Salt Lake City $850 14. Minneapolis 3.6%
15. Chicago 12% 15. Phoenix $830 15. Phoenix -0.7% 23
Produced by the Downtown Denver Partnership>
DENVER CIVIC VENTURES DOWNTOWN DENVER INC.
BOARD OF DIRECTORS 2017-2018 BOARD OF DIRECTORS 2017-2018 FOR MORE
INFORMATION
Downtown Denver Management Board Officers CONTACT
Group Chair 2017-2018 Rob Cohen, IMA Financial Group, Inc., Chairman*
Maja Rosenquist, Mortenson Construction, Secretary* Randy Thelen
Bill Mosher, Trammell Crow Company*
Mike Zoellner, ZF Capital, Vice-Chairman* Vice President, Economic Development
Cullin Barry, Wells Fargo 303.825.6791
Board Officers Jim Basey rthelen@downtowndenver.com
Trinidad Rodriguez, D.A. Davidson & Co., Chairman* Mike Bearup, KPMG LLP
Emily Brett
Amy Hansen, Polsinelli, Secretary* Scott Booker
Senior Manager, Economic Development
Sarah Rockwell, Kaplan Kirsch Rockwell LLP, Vice-Chairman* Terrance Carroll, Denver Public Schools
303.571.8216
Laura Aldrete, DEN Real Estate Steve Carter, 9News
ebrett@downtowndenver.com
Bruce Alexander, Vectra Bank Colorado Stephen Clark, S.B. Clark Companies
John Beeble, Beeble Company Dana Crawford, Urban Neighborhoods, Inc.
Raymond Bellucci, TIAA Lori Davis, Grant Thornton LLP*
Ferd Belz, L.C. Fulenwinder David Eves, Public Service Company, an Xcel Energy Company INFORMATION
Brianna Borin, Snooze, an AM Eatery Andy Feinstein, EXDO Management
Cole Finegan, Hogan Lovells US LLP
SOURCES
Brent Bowman, Kaiser Permanente
Sarah Semple Brown, Semple Brown Design Dorit Fischer, NAI Shames Makovsky 2007 Downtown Area Plan, Airports
Frank Cannon, Continuum Partners/Union Station Neighborhood Co. Bob Flynn, Crestone Partners, LLC Council International, Auraria Higher
Gene Commander, Gene Commander, Inc. John Freyer, Jr., Land Title Gurantee Company Education Campus, B-Cycle, City and
Chris Crosby, The Nichols Partnership* Tom Grimshaw, Spencer Fane Britt & Browne, LLP County of Denver, Colorado Comps,
Greg Feasel, Colorado Rockies Baseball Club Todd Hartman, Callahan Capital Properties Colorado Convention Center, Colorado
Patty Fontneau, Cigna Scott Heimes Department of Labor and Employment,
Chris Frampton, East West Partners Michael Hobbs, Guaranty Bank and Trust Company Quarterly Census of Employment and
Dr. Everette Freeman, Community College of Denver Jim Holder, Holmes Murphy Wages, CBRE, Community College of
Jon Gambrill, Gensler Kathy Holmes, Holmes Consulting Group Denver, CoStar, Denver Business Journal,
Jerry Glick, Columbia Group LLP Dorothy Horrell, CU Denver Denver Infill, Denver International Airport,
Tom Gougeon, Gates Family Foundation* Rick Hosley, Davita, Inc. Denver Metro Apartment Vacancy and
Beth Gruitch, Rioja Vernon Irvin, CenturyLink Rent Survey, Denver Post, Development
Ismael Guerrero, Denver Housing Authority* Walter Isenberg, Sage Hospitality* Research Partners, Downtown Denver
Rus Heise Bruce James, Brownstein Hyatt Farber Schrek LLP* Partnership, Emily Griffith Technical
Doug Hock, Encana Chris Jensen, JP Morgan | Chase* College, Headlight Data, Metro Denver
Jennifer Johnson, NestBuilders Steve Katich, J.E. Dunn Construction Company Economic Development Council, Metro
Jim Johnson, Johnson Nathan Strohe Kevin Kelley, Husch Blackwell LLP* State University of Denver, Nielsen
Chris King, DPC Companies David Kenney, The Kenney Group Segmentation and Market Solutions,
Katie Kramer, Boettcher Foundation Dick Kirk, Richard A. Kirk & Associates Rocky Mountain Lodging Report, RTD,
Greg Leonard, Hyatt Regency Denver at Colorado Convention Center Gail Klapper, Colorado Forum U.S. BLS Current Employment Statistics,
Adam Lerner, Museum of Contemporary Art Kim Koehn, K2 Ventures, LLC U.S. Census Bureau, University of
Traci Lounsbury, Workplace ELEMENTS Tom Lee, Newmark Knight Frank Colorado Denver, VISIT DENVER
Evan Makovsky, NAI Shames Makovsky* Laura Love, Groundfloor Media
Scott Martinez, Snell & Willmer Lee Mayer, Havenly
Pat McHenry, City Street Investors Chad McWhinney, McWhinney
Bill Mosher, Trammell Crow Company* John Moye, Moye White GRAPHIC DESIGN
Cindy Parsons, Comcast Katherine Ott, SlimGenics
Derek Berardi | www.derekberardi.com
Adam Sands, FirstBank Kevin Quinn, Citywide Banks
Gloria Schoch, MillerCoors Gary Reiff, Black Creek Group
Mark Sidell, Gart Properties Jon Robinson, UMB
David Sternberg, Brookfield Properties Marc Spritzer, MGMA
Mark Stiebeling, Grand Hyatt Denver George Thorn, Mile High Development
Frank Terrasi, CDM Smith Ellen Valde, PwC
Rick Tucker, Hensel Phelps Paul Washington, JLL
Joe Vostrejs, City Street Investors* Tracy Winchester, Five Points Business District
Elbra Wedgeworth, Denver Health Robin Wittenstein, Denver Health
David Wollard
Gary Yamashita, Sakura Square
DOWNTOWN DENVER BUSINESS
IMPROVEMENT DISTRICT BOARD
OF DIRECTORS 2017 * Downtown Denver Partnership
Jon Buerge, Urban Villages Inc., Treasurer
Management Group
Dorit Fischer, NAI Shames Makovsky
Gina Guarascio, Jones Lang LaSalle
Austin Kane, Unico Properties LLC, Vice Chair
David Kaufman, 910 Associates, Inc., Chair
Rick Kron, Spencer Fane Britt and Browne, Legal Advisor
Sandrena B. Robinson, Jones Lang LaSalle
Bahman Shafa, Focus Property Group, Secretary
24
Photo Credit: Ryan DravitzPhoto Credit: Ryan Dravitz Photography
ABOUT THE DOWNTOWN DENVER PARTNERSHIP
For more than 60 years, the Downtown Denver Partnership has convened, collaborated and led
a bold vision to build an economically powerful center city. With a bias for action, we invest for
tomorrow and execute for today, converging the right people at the right time to make an IMPACT.
Guided by the 2007 Downtown Area Plan, we are a fast-moving, forward thinking, non-profit
business organization with the foundational belief that every day is our chance to make the city a
better place. Together with our more than 700 Member organizations, we are the leading voice for
private sector businesses in the center city.
Visit downtowndenver.com today to become a member and to join us in building our city.
Learn more: Published May 2018 by:
downtowndenver.com Downtown Denver Partnership
@DowntownDenver 1515 Arapahoe St., Tower 3, Suite 100
DowntownDenver Denver, CO 80202
/DowntownDen 303.534.6161You can also read
