The Downtown Denver Partnership has released an update to the Downtown Denver Development Map, detailing projects under construction or planned as of July. Currently, there is $1.51 billion in development under construction, with 1,576 hotel rooms, 4,244 residential units, 2.3 million square feet of office space and more than 231,000 square feet of retail space either planned or under construction downtown.
While development trends remain consistent with previous updates, planned residential development in Arapahoe Square is on the rise and accounts for 8.3 percent of residential units planned or under construction downtown, up from .4 percent.
“It is encouraging to see growth in planned residential development in areas like Arapahoe Square, signaling progress in our collective efforts to establish the area as Downtown’s next great neighborhood,” said Tami Door, president and CEO of the Downtown Denver Partnership. “More people are living and working Downtown than ever before, creating significant demand for development of residential, office and retail space throughout the center city.”
Intended for developers, investors and brokers interested in Downtown Denver, the Downtown Denver Development Map, presented by Hensel Phelps, highlights key investments in Denver’s urban core and is updated four times per year. The Partnership also produces the annual Downtown Denver Development Map, intended to show a historical perspective of Downtown development by highlighting projects completed in the past five years in addition to projects under construction. Tracking development is a strategic action to ensure Downtown Denver continues to be the primary economic hub in the region, as outlined in the 2007 Downtown Area Plan.
For more information, visit www.downtowndenver.com.
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