Downtown Denver: $4.4 billion and counting

July 07, 2016 / Posted in Condos, Denver, Developments, Downtown, Real Estate

Downtown Denver: $4.4 billion in developments.

Downtown has added equivalent of 599 stories of new developments since 2011.

Downtown Denver Partnership puts developments on the map.

Downtown Denver

A historical snapshot by neighborhood of Denver development activity since 2011. Source: Downtown Denver Partnership.

Downtown Denver had added the equivalent of almost 600 stories of ongoing and completed developments since 2011.

To put that into perspective, that is the equal to about 10 Republic Plazas. Republic Plaza, with 56 stories, is the tallest building in Colorado.

The developments, either completed or under construction, represent $4.4 billion in investment,  according to the 2016 Development Map.

The map, which tracks activity going back to January 2011, is based on analysis by the Partnership.

The breakdown of the various a total of 73 developments include:

  • 3.1 million square feet of office space;
  • 6.447 new residential units;
  • And 2,457 hotel rooms.

“Developers are responding to increased demand for residential housing, office space and hotel rooms propelled by strong population and job growth, as well as key public sector investments,” said Tami Door, president and CEO of the DDP.

Downtown Denver

Map traces the path of Downtown Denver development.

“We produce this report as a tool to help developers, realtors, brokers and others tell the powerful story behind downtown Denver and to encourage continued investment,” Door explained.

The report found that $2.7 billion have been completed, with another $1.7 billion under construction.

As far as activity, 2014 and 2015 were the higher water marks, with 16 and 15 developments underway, respectively.

This year, there are 11 developments underway with 10 anticipated in 2017.

http://www.denverrealestatewatch.com/2016/07/01/downtown-denver-4-4-billion-and-counting/