Downtown Non-Residential December 2017

Yesterday we published our semi-annual summary of multifamily residential development in the Downtown Denver area. With this post, we provide a summary of non-residential development activity (i.e. office, hotel, and civic/other) in downtown since June. Only projects within a 1.50-mile radius of the historic D&F Tower at 16th and Arapahoe, which covers downtown proper plus the closer-in parts of the downtown-edge neighborhoods, are included in this analysis. For our previous semi-annual summaries, please check out our Special Features menu above.

Below is our latest Downtown Denver Non-Residential Projects summary map and table covering the time span of January 2010 to December 2017. For a high-resolution PDF of the exhibit, click here.

Downtown Denver Non-Residential Projects December 2017

Office: Only one office building, the small but handsome 1500 Market development in Lower Downtown, was completed since our June 2017 summary, bringing the amount of new office space completed in Downtown Denver since 2010 to about 2.66 million square feet. Two new office developments broke ground since our June summary: Market Station, a mixed-use project that includes retail and residential in addition to office, and the Denver Housing Authority’s Headquarters next to the 10th and Osage transit station. This puts the office space currently under construction in our downtown survey area at approximately 1.64 million square feet and ensures that at least 4.30 million square feet of office space will be developed in downtown this decade. In the Proposed column, no new projects were added in the past six months.

Looking forward to the first half of 2018, two big completions will likely occur with the 640,000 square foot 1144 Fifteenth tower and the 210,000 square foot Riverview at 1700 Platte development. And possibly joining the Under Construction category in the new year may be the 606,000 square foot Block 162 Tower; a new sign promoting the project has recently appeared on the site and building permit applications were recently filed and are under review with the city.

Hotel: Two hotel developments, Kimpton’s Hotel Born at Denver Union Station and the dual-branded Le Méridien/AC Hotel tower at 15th and California opened in the past six months, bringing the number of new hotel rooms added to the downtown market since 2010 to 3,206. Unlike our residential, office, and civic/other categories, we include new hotels developed in existing buildings as adaptive reuse projects in our semi-annual summaries. Since there are only a few of these types of hotel projects (tagged with asterisks in the exhibit table), including them in our tally gives us a complete accounting of all new downtown hotels.

Only one new hotel project, 15th and Stout, broke ground during the past six months, giving us 914 hotel rooms currently under construction in downtown. Adding these to those already completed, we know at least 4,120 new hotel rooms will be added in the downtown area this decade. Several new hotel proposals were announced since June, although none of these actually made it into the Proposed column in the exhibit table due to the lack of specific room counts. One of these, the 19th and Grant Hotel, will be both new construction (a new 11-story tower) and the adaptive reuse of two historic buildings. Two other projects that were recently announced, the Colorado Rockies Mixed-Use project and 650 17th Street, both hinted that hotels may be part of their developments but, again, no specific room counts were provided. Hopefully before our June 2018 summary, more information about these possible new hotels for downtown will be available.

Civic/Other: There was limited activity in the Civic/Other category in the past six months, with only the Kirkland Museum joining the Completed column (the museum isn’t quite open yet but the building is finished). However, with the passage of the 2017 GO bond package and the creation of the Denver Tourism Improvement District, we will see several new civic projects move forward in the near future, including the Colorado Convention Center Expansion and the new Welcome Center at the Denver Art Museum.

Coming in the next few days to wrap up our December 2017 summaries… our latest 3D Future Skyline and Tower Crane Census posts!

Downtown Denver skyline from Auraria Campus
By | 2017-12-31T08:33:02+00:00 December 30, 2017|Categories: Adaptive Reuse, Downtown Districts, Economic Growth, Infill|9 Comments

9 Comments

  1. JerryG December 30, 2017 at 2:34 pm

    Although it is only 15,000 sq. ft, it seems that you missed the office component of ‘The Lydian.’ Otherwise, both have been great summaries.

  2. Benit December 30, 2017 at 3:30 pm

    Why do you still include Two Tabor under the proposed category? Doesn’t a proposal stall out after a certain amount of time passes?

    • Ken Schroeppel December 30, 2017 at 9:00 pm

      That’s a good question. We can make up whatever rules we want. They haven’t officially cancelled the project, so we’re letting it hang there for now, although I doubt it will get built unless they find a big tenant to lease most of the building.

  3. Dave December 31, 2017 at 7:56 am

    Benit, about every 6 month the developers of Two Tabor asks for updated quote prices just in-case they want to move forward on the project. The most recent request was just a couple weeks ago.

  4. Benit January 1, 2018 at 5:05 pm

    I find it weird how the developers of Two Tabor are being so cautious. 1144 was built on pure speculation and I think I read that it is almost leased out.

    • Dan January 1, 2018 at 8:44 pm

      Agreed… Block 162 was also apparently able to close on the ground lease pretty quickly so I don’t get why Tabor is being so hesitant.

  5. Ryan January 4, 2018 at 8:43 am

    Time to add 90,000 square feet of Meow Wolf to the model. Might need another “Other” category for this one.

    • Heidi January 5, 2018 at 12:36 pm

      Where exactly is the new Meow Wolf location going to be? Along the Platte just south of Elitches? Or there about?

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