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2018State of Downtown Denver

“With the abundance of talent in Denver, we know it’s a perfect fit.”

– James Quarles, CEO, Strava

downtown residential population has tripled

since 2000

133,500 downtown employees, an all

time high

$2.3 billion of investment through developments in

the pipeline

39.3% of downtown employees commute

by transit

tech startups formed over the past three

years

3.3% retailvacancy rate in

Downtown Denver

68% of downtown residents have a bachelor’s degree

or higher

45,000 collegestudents in Downtown

Denver

4,525 residentialunits in the

pipeline

265

Highlights2018 State of Downtown Denver

74% increase in tech employment since

2010

average hoteloccupancy in Downtown

Denver

79%

Table of Contents01 Key Facts

02 Year in Review

14 Residents

05 Rankings

06 Development

08 Office Market

10 Talent

12 Mobility

16 Retail

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

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Produced by the Downtown Denver Partnership

Year in ReviewDowntown 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 YearThe 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.

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DENVER

UNION

STATION

LAFA

YET

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E SPEER BLVD

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FRA

NK

LIN

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HIG

H S

TW

ILLI

AGIL

PIN

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E 11TH AVE

E 30TH AVE

HU

MB

OLD

T ST

VIN

E ST

RA

CE

ST

LAFA

YET

TE S

T

GA

YLO

RD

ST

PLATTE ST

GIL

PIN

ST

GIL

PIN

ST

HIG

H S

T

WIL

LIA

MS

ST

GILP

IN ST

W COLFAX AVE

FRA

NK

LIN

ST

30TH ST

E 18TH AVE

HU

MB

OLD

T ST

ZU

NI S

T

FED

ERA

L B

LVD

SAN

TA FE D

R

E 24TH AVE

E 25TH AVE

MA

RIO

N S

TM

AR

ION

ST

HU

MB

OLD

T ST

HU

MB

OLD

T ST

16TH ST MALL

E 35TH AVE

E 29TH AVE

E 34TH E BRUCE

E 36TH

E 37TH AVE

FRA

NK

LIN ST

WIL

LIA

MS

STW

ILLI

AM

S ST

HIG

H S

TH

IGH

ST

GR

AN

T ST

E 16TH

W COLFAX AVE

BLAKE ST

E 14TH AVE

E 13TH AVE

VIN

E ST

VIN

E ST

VIN

E ST

VIN

E ST

VIN

E ST

RA

CE

STR

AC

E ST

RA

CE

STR

AC

E ST

PEC

OS

ST

38TH AVE

N SPEER

W 8TH AVE

BRIGHTON B

LVD

E 31ST AVE

20TH

LINC

OLN

STPARK AVE

E 8TH AVE

E 6TH AVE

DO

WN

ING

ST

CHAMPA

ST

SPEER

BR

OA

DW

AY

Gates Crescent

Park

JeffersonPark

Centennial

Gardens

City ofCuernavaca

Park

RudePark

LincolnPark

CommonsPark

CivicCenter

Park

CivicCenter

Park

20TH AVE

38TH ST

E 6TH AVE

CENTRALPLATTE VALLEY

HIGHLAND

JEFFERSONPARK

LODO

BALLPARK

RINO

CURTIS PARK/FIVE POINTS

UPTOWN

CAPITOLHILL

CENTRALBUSINESSDISTRICT

AURARIA

SUN VALLEY

GOLDEN

LA ALMA/LINCOLN PARK

TRIANGLE

25

BOUNDARYLEGEND:

CENTER CITYNEIGHBORHOODBOUNDARY

DOWNTOWNDENVER BOUNDARY

All data in this report uses the Downtown Denver boundary, unless otherwise noted.

> 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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1. Austin, TX2. Colorado Springs, CO3. Denver, CO4. Des Moines, IA5. Fayetteville, AR

Third best place to live in the U.S.3 - US News and World Report, 2018

1. Denver, CO2. Washington, D.C.3. Philadelphia, PA4. Boston, MA5. Portland, OR

Highest increase inskilled labor1 - JLL, 2018

1. Denver, CO2. Seattle, WA3. Houston, TX4. Dallas, TX5. Riverside, CA

Top metro for small business employment 1 - Paychex, 2018

1. Portland, OR2. Raleigh, NC3. Seattle, WA4. Denver, CO5. Des Moines, IA

Fourth best place forbusiness and careers 4 - Forbes, 2017

1. Washington, D.C.2. Minneapolis, MN3. Sacramento, CA4. Denver, CO5. San Francisco, CA

Fourth best city for working women 4 - MagnifyMoney, 2018

1. Los Angeles, CA2. Austin, TX3. Chicago, IL4. Denver, CO5. Seattle, WA

Fourth most exciting foodcity in America4 - Zagat, 2018

1. San Jose, CA2. San Francisco, CA3. Austin, TX4. Seattle, WA5. Denver, CO

Fifth best economy among large US cities 5 - Business Insider, 2018

1. Austin, TX2. Charlotte, NC3. Denver, CO4. Seattle, WA5. Nashville, TN

Third fastest growinglarge city3 - WalletHub, 2018

> Rankings

4 5Photo Credit: Keri Geha


DevelopmentWith 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.

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ResidentialUnits Added

OfficeSF Added

HotelRooms Added

6,236

52

Leads tocapacity for



7,700NEW DOWNTOWN

RESIDENTS

3,807,514

13,400NEW DOWNTOWN

EMPLOYEES

1,9133,807,514

680,000NEW DOWNTOWNVISITOR NIGHTS

projects completed in 2017 & 2018, under

construction, or planned

(Estimated) (Estimated) (Estimated, annual)

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“ 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.

– Mark Katz Senior Managing Director, HFF

> Building for Growth

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.

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$4.3 Billion Invested Over 5 Years

2014 2015 2016 2017 2018 (projected)

$975

M

$742

M

$280

M

$940

M$1

.5B

Photo Credit: Ryan Dravitz


$4.4 Billion Invested Over 5 Years

Office MarketA 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%).

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63%Growth in tech

companies from2010 to 2017

People are employed by high tech companies in Downtown Denver

10,000+

Increasing Employment in Tech Industry

2013 2014 2015 2016 2017

10,000

12,000

8,000

6,000

4,000

2,000

Increase in tech employment in Downtown

Denver since 2010

74%

Tech employment represents 8% of total downtown

employment

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.

Increasing Technology Business Formation

7+

209

6

46

5

50

4

56

3

70

22017

2010

94

1

101

147 27 25 43 38 47 57

{{

626 tech businesses in

Downtown Denverin 2017

384 tech businesses in

Downtown Denverin 2010

Years inbusiness

9

Total Downtown Employment

’10 ’11 ’12 ’13 ’14 ’15 ’16 ’17

130K

135K

125K

120K

115K

110K

105K

100K

Recent Relocations and ExpansionsCompanies that have announced a headquarters relocation or new office in Downtown Denver this past year include:

• Accelo• Apple

• ChannelAdvisor

• Accenture• ALPS Fund Services• Anadarko Petroleum• Anthem Blue Cross Blue Shield• CenturyLink

• Comcast• DaVita HealthCare Partners• Deloitte LLP• Encana• Gates Corporation

• Hyatt Regency Hotel at the Colorado Convention Center• KPMG LLP• Mortenson Company • Sheraton

• TIAA• Transamerica Investments & Retirement• US Bank• Vertafore

• Wells Fargo• Xcel Energy

• DTT Surveillance

• Marketo

• Mavrck

• Mercer Advisors

• Mindflash

• RLH Corp.

• Strava

• Switchfly

• Tapingo

• Thanx

• Vertafore

• Xactly

Largest Downtown Denver Employers*

> Technology Hub

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*list includes private, for-profit employers only

Downtown Denver Office Market Trends

1Q

-15

2Q

-15

3Q

-15

4Q

-15

1Q

-16

2Q

-16

3Q

-16

4Q

-16

1Q

-17

2Q

-17

3Q

-17

4Q

-17

Direct Vacancy Rates Direct Average Lease Rates (Per Square Foot)

$35

$25

$30

$20

16%

11%

6%

“ 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 Advisors


Downtown Denver Office Market Trends Total Downtown Employment

TalentDowntown Denver’s highly educated and in-demand workforce is growing to support the center city as an epicenter of business and innovation.

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1,817,000 total Metro Denver

labor force

percentage of Downtown Denver population with

bachelor's degree or higher

150K+

students enrolled at Metro Denver colleges

and universities

+260,000 Metro Denver

population growth2012-2017

100 PEOPLEMetro Denver's

approximate dailypopulation growth

68%44%

percentage of Metro Denver population with bachelor’s

degree or higher

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“ 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

Access to Metro Denver’s Robust Workforce

“ Denver has proven to be an incredibly dynamic hub for talent.

– David Collier VP of Sales, Thanx

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.

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MobilityDowntown Denver’s extensive network of mobility options is central to its strength and attractiveness as the economic hub of the region.

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DENVER

UNION STATION

E SPEER BLVD

16TH ST MALL

W COLFAX AVE

N

CHAMPA ST

BR

OA

DW

AYLincolnPark

20TH AVE

PARK AVE

B

BB

B

B

B

B

B

B

B

B

B

BB

B

B

B

B

B

B

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B

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B

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BB

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B

CIVICCENTERSTATION

25

20TH ST

RTD Free MetroRideRTD Free MallRideBicycle FacilityProtected Bicycle FacilityRailB-Cycle StationsTransit Center

B

LEG

END

13

Transit

39.3%Drive Alone

39.0%Bike

8.3%Walk

5.4%Carpool

4.0%Telework

2.2%Motorbike

0.9%Lyft/Taxi/Uber

0.9%Vanpool

0.1%

How 133,500 employees commute to downtown:

> Mobility Options in Downtown Denver

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.

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DenverInternationalAirport

N

DowntownDenver

“ 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 Executive Director of Marketing, Whole Foods Market

Photo Credit: RTD


ResidentsAttracted 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.

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Downtown Denver demographics

WH

ITE

76%

HIS

PAN

IC

8%

BLAC

K

4%

ASIA

N

5%

OTH

ER

6%

WH

ITE

64%

BLAC

K

7%

ASIA

N

3%

OTH

ER

10%

HIS

PAN

IC

16%

Race / EthnicityAge & Gender

*34.3

F 44%M 56%

F 45%M 55%

*median age

Center City Neighborhood demographics

years*33.8

years

14,226

47,849

Households

Average Household Size

Household Types

Non-familyHousehold

Family(with child/children)

Family(Married, No Child)

1.4household members

1.6household members

Family(Other, No Children)

$120,099

$92,595average household income

Educational Attainment

bachelor’s degree

master’s degreedoctoratedegree

professionalschool degree

42% 39%

2% 16%18%2%

6% 4%

2% 3%

81% 78%

13% 10%

bachelor’s degreeor higher:

61%

68%

4% 9%

Downtown DenverResidential Growth

2000census

2010census

2018estimate

25,000

20,000

15,000

10,000

5,000

199%population

growth

Center CityResidential Growth

2000census

2010census

2018estimate

90k80k70k60k50k40k30k20k10k

43%population

growth

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Downtown DenverResidential Growth

Center CityResidential Growth

RetailNew 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.

Sephora

Target

FlyWheel

Whole Foods

Free Market

Warby Parker

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“ 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

Increasing Retail Sales

’10 ’11 ’12 ’13 ’14 ’15 ’16 ’17

Total Retail Sales Tax $60M

$50M

$40M

$30M

$20M

$10M

Key RetailAnnouncements& Openings

restaurants

manufacturingother

hotel + otheraccommodation services

bus. admin.,waste/remediation

clothing +accessory stores

43% 24%

6%

7%

information +distributors

5%

3%12%


Retail Distribution

Public SpaceDowntown 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.

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“ 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 SpaceThe 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 in downtown’s unique neighborhoods, cultural landmarks, civic facilities and more.

>


TourismPremier 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.

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> Downtown Denver Hotel Scene

38 hotels and10,300 hotel rooms

$186 averagedaily room rate

Over 500,000 sfof hotel meetingspace

2,436 hotel roomsadded over the past five years

79% hoteloccupancy

$147 Revenue PerAvailable Room

Photo Credit: City of Denver


Denver International Airport (DEN) is the fifth-busiest airport in the U.S., serving more than 61 million travelers annually. DEN serves over 190 nonstop destinations, including 26 international destinations in 11 countries.

Denver tourism has been setting visitor records for 11 consecutive years, according to VISIT DENVER’s annual visitor profile study. Denver welcomed 17.3 million overnight visitors in 2016, driven by an increase in leisure travelers, who spent $5.3 billion.

The Colorado Convention Center, which hosts nearly 1 million attendees in the heart of Downtown Denver each year, will be undergoing a major renovation and expansion beginning in 2019. The fully-funded expansion will make the Center the most high-tech, user-friendly meeting and event space in the nation by adding 80,000 square feet of flexible meeting space, 60,000 square feet of pre-function space and a 50,000 square foot outdoor rooftop terrace, all of which will have views of the Rocky Mountains as well as the Downtown Denver skyline.

Outdoor Retailer, the largest outdoor recreation expo and conference in the country, chose Downtown Denver as its new home beginning in 2018. Outdoor Retailer attracts over 85,000 attendees annually across three shows (January, June/July, and November) with an economic impact of $110 million.

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Average Daily Room Rate

’12 ’13 ’14 ’15 ’16 ’17

$200

$180

$160

$140

Hotel Occupancy

’12 ’13 ’14 ’15 ’16 ’17

78%

80%

76%

74%

72%

Hotel Occupancy by Month

Jan

Feb

Mar Apr

May Jun

Jul

Aug

Sep Oct

Nov

Dec

100%

90%

80%

70%

60%

50%

40%

Revenue Per Available Room

’12 ’13 ’14 ’15 ’16 ’17

$150

$140

$130

$120

$110

$100

Average Daily Room Rate

Revenue Per Available Room

Hotel Occupancy

Hotel Occupancy by Month

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.

Benchmarking

Peer-to-Peer ReviewEach 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.

1. Austin 22.5%2. Dallas 14.7%3. Nashville 13.6%4. Denver 13.1%5. Phoenix 12.7%6. Seattle 12.2%7. Atlanta 11.0%8. Salt Lake City 10.2%9. Portland 9.9%10. Washington DC 9.7%11. San Francisco 8.8%12. Minneapolis 7.3%13. Los Angeles 4.0%14. New York City 3.7%15. Chicago 0.7%

1. Nashville 39%2. Austin 37%3. Dallas 26%4. San Francisco 26%5. Denver 26%6. Salt Lake City 25%7. Seattle 23%8. Phoenix 23%9. Portland 22%10. Atlanta 22%11. Los Angeles 16%12. Minneapolis 15%13. New York City 15%14. Washington DC 13%15. Chicago 12%

1. Salt Lake City 172. Nashville 333. Phoenix 344. Denver 365. Minneapolis 416. Austin 437. Portland 508. Dallas 549. Seattle 5510. Chicago 5711. Washington DC 6312. Atlanta 7013. San Francisco 7914. New York City 9115. Los Angeles 102

1. San Francisco 54.8%2. Washington DC 53.6%3. New York City 47.5%4. Minneapolis 46.9%5. Denver 46.0%6. Austin 45.1%7. Seattle 44.8%8. Chicago 43.7%9. Nashville 41.9%10. Portland 40.7%11. Atlanta 39.0%12. Los Angeles 34.8%13. Dallas 34.8%14. Salt Lake City 34.2%15. Phoenix 29.2%

1. San Francisco $2,440 2. New York City $2,070 3. Los Angeles $1,350 4. Washington DC $1,320 5. Seattle $1,320 6. Portland $1,130 7. Austin $1,120 8. Chicago $1,070 9. Denver $1,040 10. Atlanta $1,01011. Minneapolis $910 12. Nashville $910 13. Dallas $880 14. Salt Lake City $850 15. Phoenix $830

1. Austin 104.542. Dallas 94.173. Denver 92.314. Los Angeles 92.265. Phoenix 92.126. Atlanta 89.937. San Francisco 86.508. New York City 86.489. Seattle 84.9710. Portland 82.8211. Nashville 82.2212. Washington DC 78.0513. Chicago 74.6814. Minneapolis 72.5215. Salt Lake City n/a

1. New York City $74.34 2. San Francisco $73.44 3. Los Angeles $39.75 4. Austin $37.61 5. Washington DC $37.26 6. Seattle $35.13 7. Chicago $31.26 8. Portland $28.04 9. Denver $27.02 10. Dallas $26.6411. Minneapolis $25.79 12. Nashville $25.78 13. Phoenix $24.91 14. Atlanta $24.17 15. Salt Lake City $20.70

1. Austin 34.4%2. Salt Lake City 26.0%3. San Francisco 24.1%4. Nashville 24.1%5. Denver 20.5%6. Atlanta 15.6%7. New York City 12.8%8. Portland 12.3%9. Dallas 11.8%10. Los Angeles 8.5%11. Chicago 7.1%12. Seattle 6.1%13. Washington DC 4.8%14. Minneapolis 3.6%15. Phoenix -0.7%

1. Austin 28.5%2. San Francisco 25.9%3. Nashville 23.5%4. Dallas 20.4%5. Denver 19.5%6. Seattle 18.9%7. Salt Lake City 15.6%8. Atlanta 14.9%9. Los Angeles 14.5%10. Phoenix 11.8%11. Minneapolis 10.5%12. New York City 8.2%13. Chicago 7.5%14. Washington DC 4.5%15. Portland 2.5%

Educated Millennials % college grads age 25-34

(Source: Brookings)

Apartment RentMedian rent for 1-bedroom

(Source: aparmentlist.com)

Startup Density# of startups per 1,000 firms

(Source: Kauffman Foundation)

Office Rent Avg. asking rent/sf, direct

(Source: JLL)

Young Firm GrowthIncrease in jobs 2011-2016

(Source: Brookings)

Gross Metro Product GMP increase 2011-2016

(Source: Brookings)

Population Growth Pop. increase 2010-2017

(Source: US Census data)

Job GrowthNon-farm job growth 2010-2017

(Source: BLS)

Traffic Congestion Hours in traffic during peak

(Source: INRIX)

22 23

Key Performance Indicators Among 15 Selected Metro Areas


DOWNTOWN DENVER INC.BOARD OF DIRECTORS 2017-2018

Board OfficersRob Cohen, IMA Financial Group, Inc., Chairman*

Maja Rosenquist, Mortenson Construction, Secretary*

Mike Zoellner, ZF Capital, Vice-Chairman*

Cullin Barry, Wells Fargo

Jim Basey

Mike Bearup, KPMG LLP

Scott Booker

Terrance Carroll, Denver Public Schools

Steve Carter, 9News

Stephen Clark, S.B. Clark Companies

Dana Crawford, Urban Neighborhoods, Inc.

Lori Davis, Grant Thornton LLP*

David Eves, Public Service Company, an Xcel Energy Company

Andy Feinstein, EXDO Management

Cole Finegan, Hogan Lovells US LLP

Dorit Fischer, NAI Shames Makovsky

Bob Flynn, Crestone Partners, LLC

John Freyer, Jr., Land Title Gurantee Company

Tom Grimshaw, Spencer Fane Britt & Browne, LLP

Todd Hartman, Callahan Capital Properties

Scott Heimes

Michael Hobbs, Guaranty Bank and Trust Company

Jim Holder, Holmes Murphy

Kathy Holmes, Holmes Consulting Group

Dorothy Horrell, CU Denver

Rick Hosley, Davita, Inc.

Vernon Irvin, CenturyLink

Walter Isenberg, Sage Hospitality*

Bruce James, Brownstein Hyatt Farber Schrek LLP*

Chris Jensen, JP Morgan | Chase*

Steve Katich, J.E. Dunn Construction Company

Kevin Kelley, Husch Blackwell LLP*

David Kenney, The Kenney Group

Dick Kirk, Richard A. Kirk & Associates

Gail Klapper, Colorado Forum

Kim Koehn, K2 Ventures, LLC

Tom Lee, Newmark Knight Frank

Laura Love, Groundfloor Media

Lee Mayer, Havenly

Chad McWhinney, McWhinney

John Moye, Moye White

Katherine Ott, SlimGenics

Kevin Quinn, Citywide Banks

Gary Reiff, Black Creek Group

Jon Robinson, UMB

Marc Spritzer, MGMA

George Thorn, Mile High Development

Ellen Valde, PwC

Paul Washington, JLL

Tracy Winchester, Five Points Business District

Robin Wittenstein, Denver Health

David Wollard

Gary Yamashita, Sakura Square

DOWNTOWN DENVER BUSINESS IMPROVEMENT DISTRICT BOARD OF DIRECTORS 2017 Jon Buerge, Urban Villages Inc., Treasurer

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

GRAPHIC DESIGNDerek Berardi | www.derekberardi.com

DENVER CIVIC VENTURESBOARD OF DIRECTORS 2017-2018

Downtown Denver Management Group Chair 2017-2018Bill Mosher, Trammell Crow Company*

Board Officers Trinidad Rodriguez, D.A. Davidson & Co., Chairman*

Amy Hansen, Polsinelli, Secretary*

Sarah Rockwell, Kaplan Kirsch Rockwell LLP, Vice-Chairman*

Laura Aldrete, DEN Real Estate

Bruce Alexander, Vectra Bank Colorado

John Beeble, Beeble Company

Raymond Bellucci, TIAA

Ferd Belz, L.C. Fulenwinder

Brianna Borin, Snooze, an AM Eatery

Brent Bowman, Kaiser Permanente

Sarah Semple Brown, Semple Brown Design

Frank Cannon, Continuum Partners/Union Station Neighborhood Co.

Gene Commander, Gene Commander, Inc.

Chris Crosby, The Nichols Partnership*

Greg Feasel, Colorado Rockies Baseball Club

Patty Fontneau, Cigna

Chris Frampton, East West Partners

Dr. Everette Freeman, Community College of Denver

Jon Gambrill, Gensler

Jerry Glick, Columbia Group LLP

Tom Gougeon, Gates Family Foundation*

Beth Gruitch, Rioja

Ismael Guerrero, Denver Housing Authority*

Rus Heise

Doug Hock, Encana

Jennifer Johnson, NestBuilders

Jim Johnson, Johnson Nathan Strohe

Chris King, DPC Companies

Katie Kramer, Boettcher Foundation

Greg Leonard, Hyatt Regency Denver at Colorado Convention Center

Adam Lerner, Museum of Contemporary Art

Traci Lounsbury, Workplace ELEMENTS

Evan Makovsky, NAI Shames Makovsky*

Scott Martinez, Snell & Willmer

Pat McHenry, City Street Investors

Bill Mosher, Trammell Crow Company*

Cindy Parsons, Comcast

Adam Sands, FirstBank

Gloria Schoch, MillerCoors

Mark Sidell, Gart Properties

David Sternberg, Brookfield Properties

Mark Stiebeling, Grand Hyatt Denver

Frank Terrasi, CDM Smith

Rick Tucker, Hensel Phelps

Joe Vostrejs, City Street Investors*

Elbra Wedgeworth, Denver Health

FOR MORE INFORMATION CONTACTRandy ThelenVice President, Economic Development 303.825.6791 [email protected]

Emily BrettSenior Manager, Economic [email protected]

INFORMATION SOURCES2007 Downtown Area Plan, Airports

Council International, Auraria Higher

Education Campus, B-Cycle, City and

County of Denver, Colorado Comps,

Colorado Convention Center, Colorado

Department of Labor and Employment,

Quarterly Census of Employment and

Wages, CBRE, Community College of

Denver, CoStar, Denver Business Journal,

Denver Infill, Denver International Airport,

Denver Metro Apartment Vacancy and

Rent Survey, Denver Post, Development

Research Partners, Downtown Denver

Partnership, Emily Griffith Technical

College, Headlight Data, Metro Denver

Economic Development Council, Metro

State University of Denver, Nielsen

Segmentation and Market Solutions,

Rocky Mountain Lodging Report, RTD,

U.S. BLS Current Employment Statistics,

U.S. Census Bureau, University of

Colorado Denver, VISIT DENVER

Photo Credit: Ryan Dravitz

* Downtown Denver Partnership Management Group

>

24

Published May 2018 by:

Downtown Denver Partnership

1515 Arapahoe St., Tower 3, Suite 100

Denver, CO 80202

303.534.6161

downtowndenver.com

@DowntownDenver

DowntownDenver

/DowntownDen

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.

ABOUT THE DOWNTOWN DENVER PARTNERSHIP

Photo Credit: Ryan Dravitz Photography

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