Report: Developers have invested $4.4 billion into downtown Denver since 2011
Since 2011, $4.4 billion worth of development projects were started or completed in downtown Denver, according to a new report from The Downtown Denver Partnership.
The report released Thursday shows 73 projects (mapped above) added
- 3.1 million square feet of office space
- 6,447 residential units
- 2,457 hotel rooms
- 599 stories
Tami Door, the Downtown Denver Partnership CEO and president, hopes recent development will signal downtown Denver is ripe for investment.
“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,” Door said in a statement.
Demand and growth are also propelling prices. Living and working in downtown Denver tends to be more expensive than other areas of the city.
In 2015, condos, townhomes and single-family houses sold for roughly $162,000 more on average than similar residential properties in the greater metro area, according to the Downtown Denver Partnerships’ 2016 State of Downtown Denver report.
The report shows the average asking price for leasing office space was $33.14 per square foot in fourth quarter 2015.
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