Downtown Denver Partnership, Inc

Home , 16th Street Mall, 707 17th Street, Auraria West station, Denver Airport station, Denver Union Station, Downtown Denver

STATE OF DOWNTOWN DENVER SEPTEMBER 2012

Downtown Denver Partnership, Inc.

With support from:

STATE OF 1 DOWNTOWN DENVER

INTRODUCTION TABLE OF CONTENTS

Introduction Letter...... 1 Dear Downtown Denver Stakeholder, Key Facts...... 2 Thank you for picking up a copy of the Downtown Denver Partnership’s annual State of Downtown Denver report, a fact-driven report that provides timely, Denver’s Downtown Area Plan...... 3 objective and accurate data about Downtown Denver. This year we are proud Notable Rankings...... 4 to collaborate with Newmark Knight Frank Frederick Ross to bring you the most complete statistics and analysis about Downtown Denver. Office Market...... 6-7 Employers & Employees...... 8-9 In his 2012 State of the City address, Mayor Michael B. Hancock remarked that a vibrant downtown core is essential to the health of the city. At the 2012 Retail & Restaurants...... 11 Rocky Mountain Urban Leadership Symposium, Governor Hickenlooper and Downtown Residents...... 12-13 other leaders in the Rocky Mountain West stressed the importance of urban centers in creating strong place-based economies that attract and retain top Transportation...... 14-15 talent. Downtown Denver is one of the nation’s leaders in this regard, with Students & Universities...... 16 Denver being the number one city in the nation where young professionals are moving. This future workforce can be an incredible asset to our economy. Development & Investment...... 18-19

It is critically important that we work to attract and retain this future workforce Sustainability...... 20 by continuing to improve Downtown Denver’s amenities, high quality of life, transportation options, walkable urbanism, and its healthy and growing Culture, Entertainment, Sports, & Events...... 22-23 rental market. Tourism ...... 24

Downtown Denver remains the hub of the region with approximately 112,000 Board of Directors...... 25 employees, 17,000 residents in the urban core, 65,000 residents in City Center neighborhoods, and 44,000 university students. Downtown Denver has seen approximately $3.6 billion of non-residential development in the last 10 years. Downtown Denver is also a leader in sustainability and we are proud to have helped launch Downtown’s new green business rating, Certifiably Green Denver, a certification program that allows businesses to showcase their environmentally sustainable practices.

We invite you to turn the page and read the facts, figures and case studies in this report that showcase the current state of Downtown Denver. Please share this information with private sector leaders, investors, developers and decision makers and feel free to download additional copies of the report at www.downtowndenver.com.

Sincerely,

Tamara Door Cole Finegan President & CEO Board Chair Downtown Denver Partnership Downtown Denver Partnership

Tami Door, President & CEO Cole Finegan, Board Chair 2 SEPTEMBER 2012

For the purposes of this report, “Downtown Denver” is defined by KEY FACTS the boundaries of the 2007 Downtown Area Plan and includes the following areas: Commercial Core, Cultural Core, Lower Downtown • Denver, with its amenities, highly educated (LoDo), Arapahoe Square, Ballpark, Central Platte Valley, Auraria population, transportation options and and the Golden Triangle. attractive urban center, is the #1 city # in the U.S. where the future workforce 1 The “City Center” encompasses Downtown Denver as well as its (ages 25-34) is moving. surrounding neighborhoods within a 1.5 mile radius. This includes • Downtown Denver covers approximately the distinct neighborhoods of Capitol Hill, Highland, Curtis Park, 1,800 acres and is divided into 8 districts. Five Points, Jefferson Park, La Alma and Lincoln Park and Uptown.

• Downtown Denver has an office vacancy rate of 15.9%.

• Downtown Denver has a 4.9% retail vacancy rate.

• Annual Downtown Denver sales tax revenue increased 6.8% from 2010 to 2011.

• Downtown. Denver businesses generated over $34 million in sales tax revenue for the City & County of Denver in 2011.

• About one third of all of the City and County of Denver’s jobs are located in Downtown Denver.

E 37th Ave Schafer Park W 37th Ave W 37th Ave • Downtown Denver is home to 31 s t S Russell t d Park Lipan St Jason St Jason R Weston St 36th Ave Navajo St Navajo e E ll W 36th A i 35th St W 36th Ave ve Mariposa St v t e s C

b kin o Ar 17,000 residents. This number l G

Elizabeth St

34th St Marion St E 35th Ave 25% W 29th St W 35th Ave W 35th Ave

3 Lafayette St t City Of 3r S d E Bruce Randolph Ave Cuernavaca S E 34th Ave E 34th Ave grew over 25% in just the past year. n W 3 t 4th Ave o j Park

Clay St Brighton Blvd 32nd St

Decatur St Decatur St Quivas

Bryant St Alcott St St Vallejo Shoshone St Pecos St Osage St Zuni St Wyandot St T Vine St Vine

High St Potter’s Row E 33rd Ave W 33rd Ave Historic District 31st St Gilpin St

Race St HIGHLAND Gaylord St Elizabeth St r Denargo St Women’s 30th St Martin Luther King Blvd

D Milwaukee St

Franklin St t Market Denargo Bean Project W 32nd Ave n • Approximately 65,000 residents o George Morrison Sr Park m t 1 k 8 St Clayton W Argyle Pl S th c rie S o 29th St E t R The Denver t Mestizo-Curtis Figure 1: DowntownCt Lyle Denver Blake St S E 31st Ave E 31st Ave W thness P W 31st Ave Enterprise Center Park Cai l 17th St ut t ln 31st St S a 28 W Hirshorn Park ny W th Columbine St a S Fillmore St live in the City Center neighborhoods. D lg Lafayette St u e t

n D St York ke House ld Pl t t Denver Larimer St Sacred Heart E 30th Ave

r S l S Skate Fox St 27th St Thunderbolt Huron St Huron a BALLPARK St Gilpin de tr Park t E 30th Ave Park ul n St Inca t S o e S e

Vallejo St Vallejo B C 1 ta Lawrence St o Umatilla St Umatilla 9 t t h Elizabeth St Platte St h W 29th Ave a 26th St pa W 29th Ave S w Williams St N t e ra Black African E 29th Ave E 29th Ave Sp W A FIVE POINTS West Museum ee Highland r B lv Bridge l Fuller d The Larimer Street Market t P 25th St Curtis St St Marion Park u 29th St • Approximately 44,000 students attend a college or West 28th Avenue Platte River Bike Trail 1 tn W 28th Ave 9 s E 28th Ave Historic District th e St Vine S h Pedestrian t C Champa St Bridge Bassett St 24th St t S Stout St a KUVO Studio Coors ni W 27th Ave r St Milwaukee t fo St Josephine E 27th Ave S Park Ave W li Commons Park a university in Downtown Denver. 15th St n Field C e Pedestrian Curtis Park Historic District Glenarm Pl REI av The Ballpark le R CENTRAL PLATTE VALLEY Bridge Litt Market Welton St

W 26th Ave 22nd St Humboldt St Humboldt

Confluence St High t MaestasEddie S CURTIS PARK Park Millennium Bridge JEFFERSON PARK t Park t E 26th Ave 25 1700 co l 21st St Historic Five Points W 25th Ave A Sp Arts & Culture DistrictStiles e Wazee St 1600 E 25th Ave Bryant St er Water St B African American lv Impulse Blake St 1500 Heritage Center W Byron Pl d Wynkoop StTheater • Over $1 billion in public and private sector development Union Station 7th St Platte Valley Trolley Centennial t Museum of S Blair-Caldwell LOWER DOWNTOWN / El Chapultepec is Gardens Contemporary Art 20 rt African American th Cu Research Library E 24th Ave St Gaylord Oxford LODO Market St 1400 Downtown South Platte River Hotel 18th St St

t St Race

Eliot St. Decatur St Park S Sonny Lawson Aquarium a Rockmount Delgany St tt Museum Larimer St 1300 r a Jet ve W 23rd Ave i w Hotel 23rd A is scheduled to open in 2013 and 2014. Dr C e Williams St E Children's Museum nt s W Jefferson e e c Of Denver h Market California St Park s tc Lawrence St 1200 e li

Downtown St Vine r Street Station E Children’s C h Playground Pedestrian 17th St Arapahoe St 1100 2t St 1 Bridge 22 Glenarm Pl 1 Welton Stnd Gilpin St Elitch Gardens 9 Franklin St 1 Ritz Carlton th S 4 Curtis St 1000 S t Tremont Pl Marion St t t h Skyline Park t S Tabor Center S t Westin Pepsi Hotel n

Cleo Parker Robinson e Clay St Clay

Dance Ensemble Studio d Center g • Over half of Downtown Denver r D&F ResidenceInn 9th St i

Washington St Washington Clarkson St St Downing Emerson St O C 15th St Tower r Writer Square 16 Benedict Fountain e th Hotel City Bryant St Gates Crescent pp Larimer o St Mall Monaco Park Park W 20th Ave Park Ch Square E 20th Ave 1 Red Lion Inn 1 4 2 th M Champa St 900 th S

i t l S e Marriott-Denver City Center commuters use transit, bicycle, walk or Magnolia E 20th Ave t Hotel H Courtyard Stout St 800 ig by Marriot E 19th Ave E 19th Ave h

S Hotel

t Teatro a The Curtis California St 700 Hampton Inn Exempla St Joseph d Larimer St CENTRAL Grand Hyatt iu Starz Film Center & Suites m Tivoli Student Union Denver Performing 500 Hospital C BUSINESS DISTRICT Race St share the ride to work. St York ir Arts Complex Welton St 600 E 18th Ave The Ellie Caulkins Paramount Park Ave E 18th Ave AURARIA CAMPUS Opera House Theater Invesco Colorado 16 Warwick t th Comfort Inn UPTOWN S Metropolitian State College of Denver Symphony Orchestra St MallGlenarm Pl Hotel ut Denver Pavillions Brown E 17th Ave Field At aln St Gaylord W 7th St King Center University of Colorado Denver Palace Hotel Mile High y Community College of Denver Tremont Pl 400 E 17 wa E 17th Ave th Ave rk City Park M Pa 5th St St. Cajetan’s ile ia Hyatt Regency at the Esplanade H ar Golda Meir House St. Elizabeth Colorado ConventionHilton Center ig r St Vine h Walk Au Church • 87% of Downtown Denver visitors, Colorado Garden Inn Adam's Mark Lawrence Way Convention Crowne Plaza Hotel-Denver

Gilpin St E 16th A 9th Street E 16th Ave ve Historic Park Center

RTD St Detroit

13th St t

Fillmore St

S Emily Griffith Humboldt St Civic

Franklin St Elizabeth St Opportunity n Curtis St School Firefighters’ Center a

g v Court Pl 300 The Fillmore Milwaukee St ax A e Museum The Ogden Williams St including residents, tourists, and employees, say W Colf o

Station St Paul St Paul St

Emerson St Downing St Downing L Ogden St Marion St Sherman St Grant St Pearl St St Washington Clarkson St Auditorium Theater W Colfax Ave High St W Colfax Ave Speer Blvd Denver Justice United City/County

Civic y Center States Building a w Colorado State Capitol Mint Center d

Downtown Denver has a vibrant atmosphere. r

Park Detroit St

B Lincoln St E 14th Ave W 14th Ave E 14th Ave Fillmore St Colorado Molly Brown Zuni St Zuni Denver Art History Museum House Museum

Denver Columbine St Rio Ct

Osage St Umatilla St Shoshone St Mariposa St Museum Fox St Fox Byers-Evans Public Library Rude W 13th Ave E 13th Ave St Race W 13th Ave Cherry Creek Trail W 13th Ave House Museum Park The Vance

Lincoln Kirkland Museum St York W 12th Pl Park Denver Art Museum

• Downtown Denver welcomes 13.2 million overnight Fillmore St Hamilton Building Cheeseman Clayton St

Gaylord St Elati St Park

W 12th Ave

Delaware St Delaware Humboldt St Humboldt Vine St Vine

Ave Detroit St E 12th Ave E 12th

Decatur St t GOLDEN TRIANGLE CAPITOL HILL

S Milwaukee St visitors who spend $3.3 billion annually. a m W e t 11th Av u W 11th Ave B E 11th Ave Y r LA ALMA / LINCOLN PARK E 11th Ave y

a ck S

Josephine St

n o y t

a S n Cheesman

t w a

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o Santa Fe Dr Fe Santa

Kalamath St

Grant St Grant

Corona St Corona

Downing St Downing

Pearl St Pearl Logan St Logan St Ogden

Acoma St Pennsylvania St Clarkson St Emerson St Marion St Cherokee St St Washington

Sherman St B Lincoln St E 10th Ave W 10th Ave W 10th Ave E 10th Ave Denver Botanic • The Colorado Convention Center hosted 839,000 Museo de las Americas W 9th Ave Sunken Gardens Elati St Gardens E 9th Ave W 9th Ave W 9th Ave E 9th Ave W Barberry Pl t

Congress S

n Park

convention center attendees in 2011. o

Vallejo St Vallejo

Galapago St Galapago T

Lipan St Vine St Vine W 8th Ave Navajo St W The Art District on Santa Fe E 8th Ave 8th Av W 8th Ave Colorado Governor's Mansion e E 8th Ave Fillmore St Viad Governor's Grant-Humphreys Mansion Park Seminole Rd Denver E

Humboldt St

Canosa Ct The Denver Vallejo St Vallejo S St Race

Civic Theater p Detroit St Fox St Fox

W 7th Ave St Inca e Gilpin St Health e Clayton St Sources: Brookings Institution 2011; City and County of Denver 2011-2012; W 7th Ave r E 7th Ave t B Gaylord St

S t lv

d S

Medical s

m E 7th Ave Pky

i o

Center l l

Elizabeth St

Columbine St Columbine n

Franklin St

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a Alcott St Alcott Claritas 2012; Downtown Denver Area Plan 2007; Downtown Denver St Bryant B W 6th Ave High St E 6th Ave E 6th Ave W 6th Ave Esquire Partnership 2011; LED On the Map 2012; Longwoods 2012; Newmark Theater Knight Frank Frederick Ross 2012; VISIT Denver, 2011. Figure 2: Downtown Denver and City Center neighborhoods STATE OF 3 DOWNTOWN DENVER

DENVER’S DOWNTOWN AREA PLAN

In 2007, the public and private sectors came together to build upon the 1986 Downtown Area Plan with an updated vision and set of goals and recommendations for Downtown Denver. The Downtown Area Plan outlines the major components to make Downtown Denver one of the most livable places in the world. The vision elements and accompanying strategies guiding Downtown Denver are: PROSPEROUS

The Downtown of the Rocky Mountain Region Energizing the Commercial Core A Comprehensive Retail Strategy Clean and Safe

WALKABLE

An Outstanding Pedestrian Environment Building on Transit Bicycle City Park the Car Once Grand Boulevards

DIVERSE

Downtown Living A Family-Friendly Place Embracing Adjacent Neighborhoods An International Downtown

DISTINCTIVE

District Evolution Connecting Auraria Downtown’s New Neighborhood: Arapahoe Square

GREEN

An Outdoor Downtown A Rejuvenated Civic Center Sustainable Use of Resources 4 SEPTEMBER 2012

THE CITY OF DENVER’S NOTABLE RANKINGS

QUALITY OF LIFE BUSINESS • Denver is the #1 city where 25-34 year olds are moving (Brookings • Denver is the world’s best city for conventions (Globe and Mail of Institution, 2011) Toronto, 2011) • Denver is the #1 city where people want to live (Harris Poll, 2011) • Denver is 2nd best city for finance jobs (Accounting Principles, 2011) • Denver is America’s healthiest city (Food and Wine Magazine, 2012) • Denver is the 2nd best city for doing business (Area Development • Denver is America’s fittest city (Newsweek Online, 2011) Magazine, 2011) • Denver has the nation’s best microbrew beer (Travel + Leisure, 2011) • Denver is the 3rd best city for startups (Venture Beat, 2012) • Denver is the #1 athletic and active city in the U.S. (Travel + • Denver is the 4th best city for recent college graduates Leisure, 2011) (CareerBuilder.com, 2011) rd • Denver ranks 3 among the top U.S. growth cities for relocating • Denver’s employment forecast is 5th best in the nation (Manpower, (U-Haul International Inc., 2012) families 2012) • Denver is the 5th best city for young adults (Kiplinger, 2012) • Denver is the 8th hottest place to start a business (The Fiscal Times, • Denver is the 5th most attractive city (Travel + Leisure, 2011) 2011) • Denver is the 5th safest city (Travel + Leisure, 2011) • Denver has the 10th highest average annual salary among metro SUSTAINABILITY areas in the western states (Bureau of Labor Statistics, 2009) • Downtown Denver has the nation’s 1st LEED Platinum skyscraper TRANSPORTATION (1800 Larimer) • Denver ranks #1 for public transportation (U.S. News and World • Denver is the 2nd best city for public parks and outdoor access Report, 2011) (Travel + Leisure, 2011) • Denver International Airport is tied for America’s Favorite Airport • Denver ranks 11th in the United States for Energy Star buildings (Executive Travel Magazine, 2011) (The U.S. Environmental Protection Agency, 2011) • Denver International Airport is the 5th busiest U.S. airport and is • Denver is 5th greenest city in the U.S. (Siemens, 2011) 10th busiest airport in the world (Federal Aviation Administration, 2010) TOURISM • Denver is the nation’s 12th best city for bicycling (U.S. Census, 2010) • Denver is the 8th top place to go in the world in 2012 (Fodors, 2011) • Denver is the 5th best city for teleworking (Microsoft ‘Work Without • Denver is the 6th top U.S. travel destination for 2011 (Lonely Planet, Wall’ Report: U.S. Telework Trends, 2011) 2011) • Denver is the 4th best city base for day trips (Travel + Leisure, 2011) • Denver is the nation’s 2nd best weekend vacation city (Forbes, 2011) • Denver is the nation’s best city for a pet-friendly vacation (Travel + Leisure, 2011)

STATE OF COLORADO RANKINGS

• Colorado is ranked 1st for growth in the startup job sector (StartUpHire, 2012) • Colorado is ranked the 2nd best state for entrepreneurship and innovation (U.S. Chamber, 2012) • Colorado is ranked the 3rd best state for economic competitiveness (Beacon Hill Institute, 2012) • Colorado is ranked 5th in entrepreneurial activity (2011 Kauffman Index of Entrepreneurial Activity) • Colorado has more LEED-certified buildings than any other state (U.S. Green Building Council, 2011) • Colorado is the 6th happiest state on well-being index (Gallup, 2012) • Colorado is America’s 6th top creative class state (Atlantic Cities, July 2012) • Colorado ranks 5th among states where people want to live (Harris Poll, 2011) • Colorado is the least obese state in the nation (Centers for Disease Control and Prevention, 2011)

6 SEPTEMBER 2012

OFFICE MARKET

The last two years have brought an influx of new and expanding tenants to Downtown Denver, including Bridgepoint Education, HealthGrades, DaVita, Jacobs Engineering, AON, Suncor Energy, Intrawest, Pentax Imaging and Hub International. The highly desirable dynamics of Downtown Denver will continue to draw tenants from other submarkets, and many of the Commercial Core’s large tenants, particularly in the law, business services, engineering and oil and gas sectors, are in a growth mode.

Illustrating this commitment to the Downtown Denver office market, Brookfield Office Properties bought 1801 California for $215 million in December 2011 and has committed to investing $50 million in improvements to transform the building. Renovations will include 1801 California Photo: Inside Real Estate News improvements to the plaza on 18th and California Streets, a new ground floor conference center and installation of glass to open up the lobby.

Major office market purchases since July 2011 include: DOWNTOWN

• Beacon Capital Partners purchased 1700 Lincoln Street for $387.5 million. The DENVER’S 1.2-million-square-foot “Cash Register” building is one of the icons of the Downtown OFFICE MARKET Denver skyline. • Beacon Capital Partners acquired a 98% interest in a three-building 1.6-million- BOASTS square-foot portfolio, made up of 410 17th Street, 600 17th Street and 1560 Broadway, for $268 million. • Brookfield Properties purchased 1801 California for $215 million with plans to create 27.4 a transformative multitenant building. MILLION SF Downtown Denver’s office market boasts: OF OFFICE • 27.4 million square feet of office space. • 15.9% office vacancy rate (down from 17.4% in year-over-year comparisons), in SPACE leased buildings, compared to an 18% office vacancy rate of the region’s suburban office market and to higher vacancy rates in other downtowns across the United States. • 11.1% office vacancy rate (down 0.7% in the last year) in leased and owned buildings. • $24.35 per square foot direct median asking rate compared to Metro Denver’s direct median asking rate of $17.67 per square foot. • 105,000 square feet of positive net absorption in the first half of 2012.

Sources: Newmark Knight Frank Frederick Ross, 2012; The Denver Business Journal, 2012, Development Research Partners 2012. STATE OF 7 DOWNTOWN DENVER

SPOTLIGHT: Downtown’s Expanding Office Market Near Denver Union Station Denver Union Station is taking shape with redevelopment plans for the historic building and new office and multi-family projects moving forward. The $32 million, 108,000-square-foot IMA Financial Center is under construction, and One Union Station will break ground in the fall of 2012, anchored by Antero Resources’ 68,000-square-foot lease. Nearby, DaVita’s new 270,000-square-foot headquarters opened in Summer 2012. In the LoDo micromarket, vacancy plunged to 10.6% from 22.0% at year-end 2010, with demand being driven by proximity to Denver Union Station and the variety of amenities it will provide long-term. Also in LoDo, the mixed-use 16M project, featuring 130,000 square feet of office space, 15,000 square feet of retail space and 43 residential units, will soon begin construction for a 2014 delivery. LoDo is one of the few micromarkets in the Metro Rendering: SOM Red Square Denver office market that can support speculative development because of strong demand, extremely limited supply of large blocks of space, and high Class A rental rates. Source: Newmark Knight Frank Frederick Ross, 2012.

Downtown Denver Office Market Balance

1,500,000 20.0%

18.0% 1,000,000

16.0%

500,000

14.0%

Square Feet 0

12.0%

-500,000 10.0%

-1,000,000 8.0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2Q12

Supply Absorption Vacancy Source: Newmark Knight Frank Frederick Ross Research. 8 SEPTEMBER 2012

EMPLOYERS & EMPLOYEES

• Downtown Denver is the employment hub of the city, region and state, with 112,285 employees, making up approximately one third of all the jobs in the City and County of Denver, while constituting less than 1% of the City and County of Denver’s land mass. Downtown Denver employment numbers are up 2.6% in the fourth quarter of 2011 compared to the fourth quarter of 2010. The largest employment sectors in Downtown Denver are professional and business services (33,455), government (23,380), leisure and hospitality (16,837) and financial activities (14,199). • Downtown Denver is home to several Fortune 500 companies, including Wells Fargo, CenturyLink and DaVita, and is becoming an increasingly attractive place for companies looking to relocate. Companies such as Jacobs Engineering and SendGrid have relocated to or added offices in Downtown Denver in the past year. In August 2012, the U.S. Patent and Trademark Office announced that it had decided to locate a new regional office in Downtown Denver. Downtown Denver is also home to many energy companies, as well as the emerging high tech industries. Sources: LED On the Map U.S. Census Data 2010; DDP 2012; Development Research Partners 2012.

A Strong Oil and Gas Industry Downtown Denver has large employer presence in the oil and gas industry with Encana Oil & Gas taking the top spot of square footage occupied in Downtown Denver. The oil and gas sector is booming in the Commercial Core of Downtown, with current tenants such as Newfield Exploration, Anadarko Petroleum Corporation, EOG Resources, and Williams Exploration & Production taking full-floor or multiple floor expansions. As of the second quarter 2012, approximately 3.2 million square feet of space, or 15% of the Commercial Core’s total occupied space, was leased by the primary oil and gas industry, which has experienced significant growth over the past several years. Recent and future growth in the oil and gas sector equates to approximately 1.6 million square feet of positive absorption, with an estimated 100,000 to 200,000 square feet of absorption occurring in the next 18 months.

Downtown Denver’s Largest Oil & Gas Firms*

Company Address SF Occupied Encana Oil & Gas 370 17th Street (Republic Plaza) 452,000 Anadarko Petroleum Corporation 1099 18th Street (Granite Tower) 310,000 Newfield Exploration 1001 17th Street 233,000 EOG Resources 600 17th Street (Dominion Towers) 160,000 QEP Resources 1050 17th Street (Independence Plaza) 150,000 DCP Midstream 370 17th Street (Republic Plaza) 146,000 Noble Energy 1625 Broadway (World Trade Center II) 132,000 Forest Oil Corporation 707 17th Street 121,000 MarkWest Energy Partners 1515 Arapahoe Street 110,000 WPX Energy 1001 17th Street 102,000

*By square feet occupied Source: Newmark Knight Frank Frederick Ross, 2012. STATE OF 9 DOWNTOWN DENVER

STARTUPS & HIGH TECH COLORADO IS

Due in part to its high quality of life, engaged community and startup events, HIGH TECH & STARTUP FRIENDLY Downtown Denver is quickly becoming a magnet for web developers, high tech companies, small businesses and entrepreneurs. ReadyTalk, an audio & web-conferencing company occupying 47,000 square feet on two floors at 1900 16th Street, was named 2012’s best place to work in the United States by Outside Magazine. ReadyTalk has established a culture that centers on creating an environment that fosters collaboration with employees and customers. It does this by offering weekly yoga in the office, office bikes, a Nintendo Wii (with Guitar Hero), and free RTD Eco Passes, an all-inclusive transit pass offered to employers.

“Our young staff enjoys the amenities that come • 2nd most educated population, by percentage with being in Downtown Denver.” of residents with a Bachelor’s Degree or higher – Dan King, CEO, ReadyTalk (U.S. Census Data, 2010)

nd Creating a place where people want to live and connect with each other will • 2 top state for high-tech business (U.S. attract talent, which will in turn attract companies. In the first half of 2012, Chamber of Commerce, 2012) Downtown Denver hosted a variety of tech events including the International • 3rd in small business innovative research grants Drupal conference, the Denver i4c Campaign, the Colorado Code for (Toward a More Competitive Colorado, 2011) Communities Hackathon, the Denver Business Technology Exposition, monthly • 3rd in venture capital investments per $1,000 for Startup Colorado meetings, and monthly High-Tech meetup.com meetings. state GDP (Toward a More Competitive Colorado, 2011) Downtown Denver Employment • 3rd in concentration of high-tech workers in the Q4 2011 Q4 2010 % Change nation (TechAmerica, 2011)

PRIVATE SECTOR • 3rd top state for business (CNBC, 2012) DowntownNatural Resources & DenverConstruction Employment7,955 6,898 15.3% • 4th as the friendliest state toward entrepreneurs Manufacturing 889 877 1.4% (Kauffman Foundation Index of Entrepreneurial Wholesale and Retail Trade 3,631 3,551 2.3% Activity, 2012)

Transp., Warehousing & Utilities 1,353 1,469 -7.9% • 4th in number of new companies per 1,000 Information 5,159 6,282 -17.9% employees (U.S. Bureau of Labor Statistics, 2011)

Financial Activities 14,199 14,236 -0.3% • 4th for early-stage venture capital investment Professional & Business Services 33,455 30,556 9.5% (MoneyTree, 2012)

Education & Health Services 2,886 2,223 29.8% • 4th in number of proprietors as a percent of total Leisure & Hospitality 16,837 16,743 0.6% employment (U.S. Bureau of Labor Statistics, 2011)

Other Services 2,540 2,692 -5.7% • 8th top state for “Talent Pipeline” (U.S. Chamber of GOVERNMENT 23,380 23,911 -2.2% Commerce, 2012)

Total Downtown Employees 112,285 109,437 2.6% • 9th in the Small Business Survival Index of 2011 Source: Development Research Partners, 2012. (Small Business & Entrepreneurship Council, 2011) AT THIS LOCATION

• Between 11:30am to 1:30pm, approximately 6,000 pedestrians pass along the 16th Street Mall in front of the Denver Pavilions. • In one year, approximately 17 million pedestrians pass by the Denver Pavilions. Source: Downtown Denver Business Improvement District, 2012. STATE OF 11 DOWNTOWN DENVER

RETAIL & RESTAURANTS

• Downtown Denver has over 1,000 retail establishments and restaurants. The retail and restaurant sector employs 20,468 people in Downtown Denver, a 1% increase from a year ago. • In 2011, Downtown sales tax revenue accounted for 6.8% of the City and County of Denver’s total sales tax revenue, with $34,182,816 in sales tax revenue collected or over $554,000,000 in total sales. Sales tax revenue increased 6.8% from 2010 to 2011. • Establishments along the 16th Street Mall (including the ½ block extending on side streets) collected nearly $10.8 million in sales tax revenue in 2011, representing almost 32% of Downtown Denver’s total sales tax revenue. • The 16th Street Mall’s percentage of Downtown’s total sales tax revenue steadily rose over the last years from 2009 to 2011. • There is a total of 3.2 million square feet of total retail square footage in Downtown Denver with a 4.9% retail vacancy rate (leased buildings) or 2.8% retail vacancy rate (owned and leased buildings). The median asking rate for retail leases is $21.70 NNN per square foot. • Over 30 retailers and restaurants have opened since July 2011, including: H+M, LoDo Spokes, The Kitchen, Apricot Lane, Blue Sushi Sake Grill, Le Grand Bistro and Oyster Bar, Lucky Pie, Row 14 Bistro and Wine Bar, Zydeco’s and Udi’s Bread Café. • The 16th Street Mall remains the most popular tourist destination in Denver, attracting locals and visitors alike to its retail and restaurant establishments. Sources: Newmark Knight Frank Frederick Ross, 2012; City and County of Denver, 2012; Downtown Denver Partnership, 2012; Development Research Partners, 2012; Longwoods, 2012.

Downtown Denver Pedestrian Counts Downtown Sales Tax Collected - Annual Totals 5 year average by time of day and season, based on averages from 2006- 2011; mid-day is 11:30am - 1:30pm and evenings are 5 - 7pm. $40,000,000

9,000 Winter Mid-day $35,000,000 8,000 Summer Mid-day $30,000,000 7,000 Winter Evening $25,000,000 6,000 Summer Evening

5,000 $20,000,000

4,000 $15,000,000

3,000 $10,000,000 2,000 $5,000,000 1,000 $0 0 16th 16th 16th 16th Arapahoe Larimer California California 2004 2005 2006 2007 2008 2009 2010 2011 between between between between between between between between Glenarm California Lawrence Market and 16th and 14th and 16th and 15th and Sources: Downtown Denver Business Improvement District, 2012; City & and Welton and Stout and Larimer Blake 17th 15th 17th 16th County of Denver, 2012.

SPOTLIGHT: Marketplace on the Mall In 2011, the Downtown Denver Business Improvement District revamped, diversified, and expanded the 16th Street Mall Vending Program into the newly branded “Marketplace on the Mall.” The retail and food vending cart and kiosk program on the 16th Street Mall focuses on bringing local, regional and first-to-market retailers and food vendors to Downtown. Marketplace on the Mall continues to activate the pedestrian space adjacent to the buildings and along the medians, by adding quality, diverse vendors to Downtown Denver’s current outdoor retail and food vending program. A variety of annual and seasonal (summertime) vendors were added to the program in the past year including Gigi’s Cupcakes, Wystone’s Teas, Donut Maker, Doc Popcorn, Climax Jerky, LOL Caricature, Taste of the Philippines, Spice India, Slyderman and Maui Wowi. Photo: H. Wilson Photography 12 SEPTEMBER 2012

DOWNTOWN RESIDENTS

Denver is the #1 city in the nation in attracting 25-34 year olds. CEOs for Cities recently reported that the population of 25-34 year olds with a four-year degree in the City Center neighborhoods grew 25%, while this population decreased by 1% in the rest of the region during the past 10 years. Almost a quarter (22%) of the City Center’s residents are 25-34 years old. Denver’s top five walkable neighborhoods are all in Downtown Denver or its surrounding neighborhoods, with the Central Business District ranked as the #1 most walkable neighborhood in Denver. Not surprisingly, 23% of Downtown Denver residents walk to work and 24% do not own a vehicle.

Responding to the recent demand for housing in walkable urban environments, Downtown Denver developers are taking steps to provide an adequate housing stock. Recent projects have included The Four Seasons Private Residences, Solera and Renaissance Uptown Lofts. The Solera, a LEED-Gold Certified multi-family, mixed-use building was 92% leased by October 2011 and sold for the highest per unit sales price in Colorado history. Nearly a quarter of the 25 projects either planned or underway Downtown as of April 2012 had more than 300 units. As of the first quarter 2012, there were 5,582 rental units and 50 for-sale units under construction or planned for Downtown Denver’s residential market. Near Denver Union Station, several apartment projects are under construction, including 19th and Chestnut, 17th and Chestnut and Alta House.

• The residential population of Downtown Denver has grown 86% from 2000 to 2012. This reflects a 35% increase in growth over the last year in Downtown Denver. • The City Center population (neighborhoods within a 1.5 mile radius of Downtown Denver) grew 22% between 2000 and 2012 and has stayed relatively stable over the past year. The City Center population is projected to reach 70,057 by 2017. • Over the last 12 years, the number of Downtown Denver households increased by 110% and the City Center households grew by 32%.

Sources: Claritas, 2012; LED On the Map, 2012. Downtown Population City Center Population Where Downtown Denver Residents are Employed Residential Population: 16,959 Residential Population: 65,093 Number of Households: 10,667 Number of Households: 39,861 Median Age: 47.5 Median Age: 40 Racial Breakdown: Racial Breakdown: 84.4% Caucasian 78.25% Caucasian 5.35% Black 7.62% Black 60% 4.26% Asian 2.64% Asian of Downtown .8% American Indian 1.41% American Indian ResidentsDenver work (5.19% Other) (10.08% Other) in the CityLakewood and Sex: 58.95% Male Sex: 55.55% Male County ofAurora Denver 41.05% Female 44.45% Female Greenwood Village Households with no vehicles: 24% Households with no vehicles: 23% Denver Broomfield Average Income: $78,859 Average Income: $55,724 Lakewood Westminster Median Income: $40,733 Median Income: $35,377 Aurora Boulder Population with a Bachelor's Population with a Bachelor's Greenwood Village Centennial Degree or Higher: 57% Degree or Higher: 49% Denver Broomfield Englewood Median Housing Value (Owner Median Housing Value (Owner Lakewood Westminster Wheat Ridge Occupied): $377,682 Occupied): $256,158 Aurora Boulder All Other Locations Average Household Size: 1.39 Average Household Size: 1.52 Greenwood Village Centennial Broomfield Englewood Sources: ACS Census Data, 2010;Westminster Claritas, 2012; New WheatYork Times, Ridge 2010, On the Map, LED 2010. Boulder All Other Locations Centennial Englewood Wheat Ridge All Other Locations STATE OF 13 DOWNTOWN DENVER

SPOTLIGHT: The Economic Power of Downtown Denver Residents

Data indicates that the growing Downtown Denver residential population is well educated, tends to rent, appreciates the amenities Downtown offers, uses various forms of transportation and has a high average household income. Downtown Denver residents have an average household income of $78,859, a median income of $40,733 and a per capita income of $51,298. The Downtown Denver average household income ($78,859) is significantly higher than the citywide average household income ($45,501). In the upper brackets, 45% of Downtown households make over $50,000 a year and 31% of those make over $75,000.

$$550000,,000000 aanndd mmoorree $$115500,,000000 tt oo $$119999,,999999 $$220000,,000000 tt oo $$449999,,999999 22%% 66%% 77%%

$$112255,,000000 tt oo $$114499,,99999 33%% LLeessss tt hhaann $$1155,,000000 2255%%

$$110000,,000000 tt oo 112244,,999999 55%%

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$$3355,,000000 tt oo $$4499,,999999 $$2255,,000000 tt oo $$3344,,999999 Sources: ACS Census Data, 2010; Claritas, 2012; New York Times, 2010. 1122%% 1100%% SPOTLIGHT: Downtown Denver Multi- Family Rental Market

After taking a substantial hit in 2009 and 2010, the Downtown Denver apartment market has recovered at a faster rate than the rest of the nation. Vacancy rates remain historically low and effective rents continue to climb. In 2011, the average vacancy rate in Downtown decreased to an average of 5.25% and has stayed there in 2012. This represents the lowest vacancy rate in Downtown in a decade and is expected to remain there as construction lags behind Downtown’s growing demand.

The desire of the echo boomers and young professionals to live in a central, urban location has tightened Downtown Denver’s market substantially and caused effective rents to grow at significant rates. In 2011, effective rents in Downtown increased 14.0% over 2010, to an average of $1,386 per unit. Effective rents have already increased 6.2% in 2012 and are expected to rise as the year progresses.

Over the last 30 years, Downtown Denver has accumulated 5,100 apartment units, or 3.4% of metro Denver’s inventory. Due to a significant cultural and lifestyle shift for the younger population, there are more than 6,000 units proposed or under construction in more than a dozen developments in Downtown over the next five years. Although there are more units proposed and under construction in Downtown than the current inventory, Downtown Denver has become the largest and trendiest destination for the younger generation. In the past year, Downtown’s total population has grown by 35% to 16,959 residents. The strong population increase is the result of both organic growth and in-migration, as suburbanites move into the city and out-of-staters relocate to find jobs. This demand will continue as the economy approaches pre-recession levels and the transformation of Denver Union Station creates a new dynamic for workers that want to live in Downtown Denver. Source: Apartment Realty Advisors, 2012. 14 SEPTEMBER 2012

TRANSPORTATION

Downtown Denver is the transportation hub for the entire metropolitan region and continues to advance transportation options for its residents, visitors, employees and employers. Such advancements include improvements to the U.S. 36 highway system leading into Downtown Denver, the 122-mile build out of FasTracks bus and rail systems, various streetscaping projects enhancing the pedestrian environment and increasing the amount of bicycle infrastructure in and around Downtown. Approximately 50 transit-oriented developments are planned along eight different light rail and commuter rail lines as part of RTD’s FasTracks program extending in all directions from the downtown core, making Downtown Denver accessible to workers, residents, and visitors from every corner of the metro area. These investments in transportation choice are coming at an opportune time for Denver as the future workforce and the baby boomers are looking for more transportation choices in their daily lives.

Overview • 53% of Downtown Denver employees use alternative modes of transportation, including transit, bicycling, walking, carpooling, vanpooling and telecommuting. • 46% of Downtown Denver commuters travel viaBicycle active transportation (bicycling, walking, transit).

How Downtown Denver Employees Get to WorkBicycleWalk Bicycle Carpool /Vanpool WalkBicycle BicycleWalk CarpoolTransit /Vanpool CarpoolWalkBicycle /Vanpool WalkDrive Alone – 39.4% TransitBicycleDrive Alone TransitCarpoolTransitWalk – 36.1% /Vanpool WalkMoped/ScooterCarpool /Vanpool DriveTransitBicycleCarpool –Alone 6.3% /Vanpool BicycleDrive Alone CarpoolDidTransit not / VanpoolWork /Vanpool – 5% Moped/ScooterWalkTransit Moped/ScooterDriveWalk – 3.9%Alone TransitWalkWorksDriveDrive Alone from Alone Home DidCarpool not Work /Vanpool DidMoped/Scooter not Work – 1.8% DriveCarpoolMoped/ScooterMoped/Scooter Alone /Vanpool WorksTransitWorked from from home Home the day of the survey – 1.8% WorksDid Didnot from notWork Work Home Moped/ScooterTransitDid not not work Work the day of the survey – 5.7% WorksDriveWorks Alone from from Home Home DidDriveWorks not Alone from Work Home Moped/Scooter WorksMoped/Scooter from Home Did not Work Source: Downtown Denver Partnership, 2011. Did not Work Works from Home Works from Home Transit • 48 bus routes and 5 light rail routes serve Downtown Denver. • 48,693 people boarded the free 16th Street Mall Shuttle every weekday in 2011. • 13 million trips were made at Downtown Denver RTD light rail stations in 2011. • RTD’s most active light rail stations (in terms of boardings) are in Downtown Denver: Colfax at Auraria and the 16th Street Stations. • Over one third of Downtown Denver commuters (36%) ride mass transit, compared to just 6% in the City and County of Denver and just under 5% in the United States. • Two thirds of Downtown Denver employees (66%) receive some type of transit pass from their employer. • When an employer pays for a transit pass, over half of the Downtown commuters surveyed will take transit to work (53%) and driving alone dips down to 32%. When employers do not offer the incentive of paying for a transit pass, 53% drive alone to work. Sources: RTD 2012; Downtown Denver Partnership, 2011. STATE OF 15 DOWNTOWN DENVER

Automobiles • There are 43,637 off-street parking spaces in Downtown Denver: 32,998 garage spaces and 10,639 surface lot spaces. • The median rates for parking garages and surface parking lots have remained relatively stable over the past few years with median daily rates of $15.00 for garages and $7.50 for lots, and $175.00 median monthly rates for garages and $117.50 for lots.

Downtown Denver Parking Lot Rate Trends: Downtown Denver ParkingJune Lot Rate 2007 Trends: to December June 2007 2011 to December 2011 200 180 160 140 120 100 80 60 40 Garage#REF! Median Daily Max Rate 20 0 Garage#REF! Median Monthly Rate Lot#REF! Median Daily Max Rate L#REF!ot Median Monthly Rate June 2007 June 2008 June 2009 June 2011 June 2010 December 2007 December 2008 December 2009 December 2010 December 2011 Source: Downtown Denver Partnership, 2012. Bicycling Peak Hour (7 - 9am) Bicycle Counts at 16th and Broad- • 6.3% of Downtown Denver commuters ride a 300 bicycle to work, compared to 2.2% in the City 250 and 0.5% in the nation. 200 • Bicycle commuting has doubled in Downtown 150 Denver since 2007, from 3.7% to 6.6% in 2011. 100 #REF!2009 • There are 20.5 miles of bicycle facilities in 50 #REF!2010 Downtown Denver, with 5 more miles proposed. 0 • Historical bicycle counts at 16th Avenue and #REF!2011 July May

April June

#REF!2012 Broadway show a 91% increase in bicyclists over March August

January

October February February

the last two years in the 7 - 9am time period. December November September • Bicycle counts also reveal that separated facilities, such as Downtown’s Cherry Creek Trail at Market Street and 14th Street have higher percentages of women riding when compared to other locations Downtown. Sources: Downtown Denver Partnership 2012; ACS Census Data 2010; City and County of Denver 2012. Walking • 4% of all Downtown Denver commuters walk to work, compared to just 1.9% in the Denver metro area. • The number of commuters who bike and walk to work in Downtown Denver has steadily increased over the past three years. Sources: Downtown Denver Partnership 2012; ACS Census Data 2010. Carsharing & Bike Sharing • Carsharing allows users to rent a car for a short period of time and is often a convenient option for those without a car who may only need a car for certain trips. Three carsharing companies have 21 cars located within Downtown Denver. • Designed for short, urban trips, Denver’s bike sharing program, Denver B-cycle, allows users to rent a bike for a quick trip around town. Denver B-cycle has 25 B-cycle stations in Downtown Denver, with docks for 354 B-cycles. At these stations, there were 108,275 checkouts in 2011. Sources: Denver B-cycle 2012; eGo Carshare, Hertz on Demand, Occasional Car 2012. 16 SEPTEMBER 2012

STUDENTS & UNIVERSITIES

Downtown Denver is home to 43,664 students in public, not-for-profit, institutions of higher education, Schools in Downtown Denver Fall 2011 Enrollment as well as over 12,000 students at various trade University of Colorado, Denver 13,491 schools and private, for-profit, institutions that have Metropolitan State University of Denver 21,898 offices or classroom space in Downtown Denver. Community College of Denver 8,241 An educated population stimulates the culture of Colorado State University Executive MBA Program 34 downtown. The Brookings Institution noted that the young, emerging workforce is choosing to locate in Total Downtown Denver Students 43,664 highly educated areas, where “young people can feel connected and have attachments to colleges or universities among highly educated residents.” This culture of higher education is exemplified by Downtown Denver’s residential population, 57% of whom have Bachelor’s Degrees or higher, compared to 45% in downtown Seattle and 44% in downtown Washington D.C.

Sources: Auraria Higher Education Center, 2012; Colorado State University Executive MBA Program, 2012; Downtown Denver Partnership 2012; Downtown Seattle Association, 2011; and Downtown DC Business Improvement District, 2010.

SPOTLIGHT: Auraria Master Plan Update 2012

The Auraria Master Plan was updated in 2012. Key elements of the original plan included creating neighborhoods for the three institutions where each institution can create a unique identity, moving athletic and recreational fields to the west end of campus, and opening Larimer as a pedestrian, and possible transit, connection to the Auraria West station from Downtown Denver.

The updated plan refines the original 2007 plan and addresses changes in direction that have occurred within the community over the last five years and reinforces the goal of creating a more outward looking, urban campus, as recommended in the 2007 Downtown Area Plan. The 2012 update expands upon the neighborhood concept, linking each institution to an adjacent transportation corridor. Additionally, the 2012 update focuses on improving the circulation of modes around campus by looking at re-aligning certain streets and thinking more carefully about how specific modes are considered on each street that runs through the campus. Source: Auraria Higher Education Center, 2012. Downtown Denver has 43,664 students 18 SEPTEMBER 2012

DEVELOPMENT & INVESTMENT

There was approximately $3.6 billion of documented, non-residential public and private sector investment in Downtown Denver between 2003 and 2012. Residential investment during this same time period is estimated at over $1 billion. There is also well over $1 billion in public and private sector projects under construction in Downtown Denver, due to open in 2013 and 2014 alone.

Many of the large projects that have been completed within the past ten years include major hotels, transportation infrastructure, cultural facilities, office buildings, mixed-use development and landmark projects such as the Denver Justice Center and the 14th Street Streetscaping project.

Downtown Denver Development & Investment 2003-2012

$1,200,000,000

$1,000,000,000 Transp/Streetscape $800,000,000 Convention $600,000,000 Govt/Institutions Entertainment/Culture $400,000,000 Office $200,000,000 Hotel

$- Source: Downtown Denver Partnership, 2012. 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Development Highlights From The Past Decade: Public Projects: • The 1.5 million-square-foot expansion of the Colorado Convention Center was completed in 2004 and the adjacent Hyatt Regency celebrated its grand opening in 2005. • After the completion of a $92 million renovation, the Ellie Caulkins Opera House opened at the Denver Performing Arts Complex in 2005. The world-class 2,268-seat hall is home to Opera Colorado, Colorado Ballet and The Cleo Parker Robinson Dance Company. • The Denver Art Museum’s new wing, the Frederic C. Hamilton Building, opened in 2006. The titanium and glass addition, which is cantilevered across 13th Avenue, was designed by Daniel Libeskind. • The newly-renovated Denver Justice Center opened in 2010. The complex is composed of the 448,000-square-foot, $159 million Van Cise-Simonet Detention Center and the 310,000-square-foot, $136 million Lindsey-Flanigan Courthouse. • History Colorado Center opened its new 200,000-square-foot, $110.8 million museum in 2012. The museum’s former site was demolished to make way for the Ralph L. Carr Judicial Complex.

Private Sector Projects: • Denver’s Ritz-Carlton opened in 2008, and the Four Seasons Hotel and Residences opened in late 2010, filling Downtown Denver’s void of luxury hotels. • Spire, a 42-story, 496-unit, LEED certified luxury condominium tower was completed in 2009. The residential units range in price from the low $200,000s to $1 million. • 1800 Larimer, Westfield Company’s 495,000-square-foot, 22-story tower, was completed in 2010. The LEED Platinum project is home to Xcel Energy’s 340,000-square-foot headquarters. • A new 403-room Embassy Suites opened in 2010. The LEED-certified hotel is located across from the Colorado Convention Center. • In 2009, DaVita announced that it would relocate its corporate headquarters from Southern California to Downtown Denver. The kidney dialysis provider leased interim space at 1551 Wewatta while its 270,000-square-foot build-to-suit headquarters was completed in July 2012 in the Central Platte Valley. DEVELOPMENT PROJECTS ON THE HORIZON

• 16th Street Mall Renovation • Denver Union Station Redevelopment • Ralph L. Carr Judicial Complex • Homewood Suites / Hampton Inn & Suites • Marriott Renaissance • One Union Station • IMA Financial Center • 16M

Source: Newmark Knight Frank Frederick Ross, 2012, Downtown Denver Partnership, 2012. 20 SEPTEMBER 2012

SUSTAINABILITY

Downtown Denver is a national leader in the movement to conduct business more sustainably. Sustainability is not only important to Downtown Denver’s residents, employees, and visitors but it is also important to businesses and the future workforce they are trying to attract. The Wall Street Journal reports that eco-friendly policies can help companies attract talent as “80% of young professionals are interested in securing a job that has a positive impact on the environment and 92% would be more inclined to work for a company that is environmentally friendly.”

Sustainability by the Numbers: • 49 LEED certified buildings are located in Downtown Denver. • 2,072 trees are located in the Downtown Denver Business Improvement District. • 38,005 square feet of green roofs are located in Downtown Denver. • The nation’s 1st LEED Platinum skyscraper, 1st LEED Gold museum and the 1st LEED Gold state cultural history museum are all in Downtown Denver (1800 Larimer, Denver’s Museum of Contemporary Art, and the History Colorado Center, respectively). • 31 Downtown Denver companies participate in Certifiably Green Denver, a sustainability certification program, presented as a partnership between the City and County of Denver and the Downtown Denver Partnership. • 65 Downtown Denver companies participate in Watts to Water, a regional program dedicated to the reduction of energy and water consumption. • The Colorado Convention Center in Downtown Denver is rated LEED-EB (LEED Existing Building Operations and Maintenance certification). Its solar power could support 48 homes each year and the building diverts 981,965 pounds of waste from landfills, annually. • The Denver Performing Arts Complex is Energy Star Certified. Sources: CoStar, 2011; Downtown Denver Business Improvement District, 2012; Museum of Contemporary Art, 2012; DCPA 2012; Certifiably Green Denver, 2012.

SPOTLIGHT: History Colorado Center

The History Colorado Center is the country’s first LEED Gold state cultural history museum. The building’s design “promotes water and energy conservation by incorporating native landscaping, low-or zero-flow water systems, and fritted glass, and by taking advantage of natural light and heat provided by the Atrium.” It also incorporates recycled and regional materials as well as certified wood products. This building hopes to have a long life cycle, to stand for over 100 years. Ed Nichols, History Colorado President and CEO said, “The hundred-year life cycle is perhaps the most important sustainable element of the History Colorado Center.” The museum serves as a way to observe the past and present, while seriously looking into the future. Building a sustainable museum is a key way to serve as a model for Colorado’s future. Source: History Colorado Center, 2012. Photo: Frank Ooms

22 SEPTEMBER 2012

CULTURE, ENTERTAINMENT, SPORTS, & EVENTS

Downtown Denver hosted the opening of two new museums in the last 12 months, the History Colorado Center and the Clyfford Still Museum.

The Clyfford Still Museum, located adjacent to the Denver Art Museum, opened in November 2011 and hosts a collection of approximately 2400 paintings, drawings, prints and sculptures, from the late Clyfford Still, a mid-century abstract expressionist artist. As the majority of these pieces have never been on public display before, a visit to the museum provides an unprecedented opportunity to reflect on the full scope of Still’s legacy and his profound influence on American art. Just a few blocks away, the History Colorado Center opened its doors shortly after the Clyfford Still Museum in Spring 2012. The History Colorado Center allows History Colorado, a 132-year-old state agency, to continue creatively engaging Coloradans locally and across the state in discovering, preserving, and taking pride in its places of architectural, archaeological and historical significance through museum exhibitions, public programs and educational services.

Although not new to the area, the Denver Art Museum attracted significant attention in 2012 when it hosted the exhibit, Yves Saint Laurent: The Retrospective, “a stunning selection of 200 haute couture garments along with numerous photographs, drawings, and films that illustrate the development of Saint Laurent’s style and the historical foundations of his work.” The Denver Art Museum was the only North American venue selected to feature the exhibit. Not to be outdone by its cultural competitors, Denver Center Attractions was chosen to launch the national touring premiere of the Broadway hit “The Book of Mormon” at the Ellie Caulkins Opera House in August 2012. Finally, the Denver Museum of Contemporary Art (MCA) hosted the innovative “Thinking About Flying” exhibit in 2011. Museum visitors were invited to participate by taking home a pigeon in a carrying case and releasing the pigeon to fly back to its loft on the museum’s roof, expanding the traditional view and scope of an art museum.

In addition to Downtown Denver’s cultural facilities, Downtown Denver also hosts over 200 games at three major sports facilities: The Pepsi Center, Coors Field and Sports Authority Stadium at Mile High. Downtown Denver is home to six professional sports teams: Denver Broncos, Colorado Rockies, Denver Nuggets, Colorado Avalanche, Colorado Mammoth and the Denver Outlaws. In addition to professional sports, Downtown Denver played host to several high profile sporting events in the last 12 months, including the USA Pro- Cycling Challenge and the NCAA Women’s Final Four.

A new event in 2012, In 2011 and 2012, the USA Pro-Cycling

16,752 Make Music Denver increased Challenge, a state-wide race, finished school children attended pedestrian traffic along the in Downtown Denver where over theatre performances at the 16th Street Mall by watched the final Denver Center for Performing 250,000 stage, generating $83.5 million and Arts in 2011. . 23% drawing spectators from 17 countries. Photo: John Pierce, PhotoSport International STATE OF 23 DOWNTOWN DENVER

Visitors See Downtown Denver as a Fun Place Downtown Denver Attractions Annual Attendance Denver Performing Arts Complex 750,000 Denver Public Library Central 815,000 Denver Art Museum 670,000 Museum of Contemporary Art 48,398 Elitch Gardens 1,200,000 Children’s Museum of Denver 308,162 U.S. Mint 54,372 Coors Field 2,909,777 Pepsi Center 2,000,000 Sports Authority Field at Mile High 1,000,000 Note: Responses to the 2011 Downtown Denver Visitor Intercept Survey question, “What word comes to mind when you think of Downtown Denver?” Source: Downtown Denver Partnership, 2012.

Selection of Major Festivals and Events in Downtown Denver:

• 9News Parade of Lights • Denver PrideFest • National Western Stock Show Parade • Capitol Hill People’s Fair • Denver St. Patrick’s Day Parade • New Year’s Eve Fireworks • Cherry Blossom Festival • Doors Open Denver • Oktoberfest • Cinco de Mayo Festival • Downtown Denver Arts Festival • Rock n’ Roll Marathon • Civic Center EATS • Grand Illumination • Southwest Concert and Movie Series • Columbus Day Parade • Great American Beer Festival at Skyline Park • Denver Chalk Art Festival • Independence Eve at Civic Center • Southwest Rink at Skyline Park • Denver Christkindl Market • Kaiser Permanente Colfax Marathon • A Taste of Colorado • Denver Bike to Work Day • Komen Race for the Cure • USA Pro Cycling Challenge • Denver Day of Rock • Make Music Denver

SPOTLIGHT: Programming at Skyline Park

Skyline Park, which spans the 1500-1800 blocks of Arapahoe Street, provides a vibrant green space for Downtown Denver residents and visitors. The park is also host to several intriguing events and programs throughout the year. In 2011 and 2012, Southwest Airlines sponsored events such as the free summer movie and concert series, the Southwest Court, and the free Southwest Rink. The 2011- 2012 rink saw more than 42,000 visitors, an increase of more than 11,000 visitors from the previous year’s attendance of 31,726. Source: Downtown Denver Partnership, 2011. 24 SEPTEMBER 2012

TOURISM Downtown Denver Hotel Room Nights 2,000,000 The 16th Street Mall is the most popular tourist destination in 1,800,000 1,600,000 Denver, making Downtown Denver the metropolitan area’s center 1,400,000 for tourism. The Colorado Convention Center hosted 839,000 1,200,000 annual visitors in 2011. Recent conventions include International 1,000,000 800,000 Association of Fire Chiefs, Urban Land Institute, EDUCAUSE, 600,000 DrupalCon, American Solar Energy Society, Green Schools 400,000 National Network. 200,000 0 Downtown Denver currently has 22 hotels, with over 8,400 hotel 2003 2004 2005 2006 2007 2008 2009 2010 2011 rooms, representing 18.8% of the entire metro area’s hotels. There Downtown Denver Hotel Market are also over 600 hotel rooms planned as of August 2012; with Occupancy Percentage Trends 2000 - 2011

over 1,000 rooms under construction and 630 rooms recently 74

completed. 72 72.1 71.8 69.5 70 69.1 70.3

Sources: Downtown Denver Partnership, 2012; VISIT Denver, 2012,

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a 67.7 Colorado Convention Center, 2012. t 68 n 67.6

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Downtown Denver’s 2011 hotel market boasts: p u 62.9 c

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• 71.7% hotel occupancy O 60 • 1,806,131 occupied rooms 58 • $144.70 average daily rate 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 • $103.69 revenue per available room (rev par) Downtown Denver Hotel Market Average Room Rates 2000 - 2011

$180.00 $158.09 $160.00 $152.46 $145.86 $144.71 $139.96 $134.91 $140.00 $131.17 $125.92 $123.38 $123.42 $123.72 $121.50

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$0.00 Downtown Hotel Occupancy and 2000 2001 2002 2003 R 2004oo m 2005 Ra te 2006s 2007 2008 2009 2010 2011 Source: Rocky Mountain Lodging Report Downtown Hotel Occupancy and Room Rates 2000-2011 $180.00 74% $160.00 72% $140.00 70% $120.00 68% $100.00 66% $80.00 64% $60.00 $40.00 62% $20.00 60% $0.00 58% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Room Rates Occupancy Percentages

Source: Rocky Mountain Lodging Report 2000-2011. STATE OF 25 DOWNTOWN DENVER

Downtown Denver Inc. Board of Directors 2012-2013 Ray Baker, Gold Crown Management Todd Hartman, Callahan Capital Partners Ralph Pace, US Bank Jim Basey, Centennial Bank Michael Hobbs, Guaranty Bank and Trust Company Susan Powers, Urban Ventures LLC Mike Bearup, KPMG LLP Kathy Holmes, Holmes Consulting Group Gary Reiff, The Black Creek Group Scott Bemis, Denver Business Journal Walter Isenberg, Sage Hospitality Bill Reynolds, Denver Post Molly Broeren, Molly’s of Denver Bruce James, Brownstein Hyatt Farber Schreck, LLP Mimi Roberson, Presbyterian / St. Luke’s Medical Center Brad Buchanan, RNL Design Steve Katich, J.E. Dunn Construction and Rocky Mountain Hospital for Children at P/SL Chris Castilian, Anadarko Petroleum Corporation David Kenney, The Kenney Group Jon Robinson, UMB Financial Corporation Stephen Clark, S. B. Clark Companies Dick Kirk, Richard A. Kirk & Associates Jon Schlegel, Snooze, an A.M. Eatery Rob Cohen, The IMA Financial Group, Inc. Gail Klapper, The Klapper Firm David Shapiro, DaVita Inc. Mark Cornetta, 9News Charlie Knight, Venture Law Advisors, LLC John Shaw, McWhinney Dana Crawford, Urban Neighborhoods, Inc. Kim Koehn, K2 Ventures, LLC Charlita Shelton, University of the Rockies Andre Durand, Ping Identity Corporation Mike Komppa, Corum Real Estate Group Marc Spritzer, CoBiz Financial David Eves, Public Service Company, an Xcel Tom Lee, Newmark Knight Frank Frederick Ross Tom Stokes Energy Company Harry T. Lewis, Lewis Investments George Thorn, Mile High Development, LLC Cole Finegan, Hogan Lovells US LLP Laura Love-Aden, Groundfloor Media Deborah Wapensky, Vectra Bank Colorado Bob Flynn, Crestone Partners, LLC Dan May, Quitman Consulting Travis Webb, BKD, LLP Jaime Gomez, Colorado Housing and Finance Authority Patrick Meyers, Consumer Capital Partners David Wollard Jim Greiner, iTriage, LLC John Moye, Moye White, LLP Charlie Woolley, St. Charles Town Company, LLC Lisa Halbleib, CenturyLink Will Nicholson, Rocky Mountain BankCard Systems, Inc. John Yarberry, Wells Fargo

Denver Civic Ventures Board of Directors 2012-2013 Bruce Alexander, Vectra Bank Colorado Jerry Glick, Columbia Group Limited, LLLP Cindy Parsons, Comcast Sueann Ambron, University of Colorado Denver - Tom Gougeon, Gates Family Foundation Bill Pruter, The Nichols Partnership Business School Tom Grimshaw, Grimshaw & Harring, P.C. Sarah Rockwell, Kaplan Kirsch Rockwell LLP Holly Barrett, LoDo District, Inc. Beth Gruitch, Rioja Trinidad Rodriguez, George K. Baum & Company Ray Bellucci, TIAA-CREF Ismael Guerrero, Denver Housing Authority Ken Schroeppel, University of Colorado Denver - Ferd Belz, L.C. Fulenwider, Inc. Randy Hammond, JPMorgan Chase College of Architecture & Planning Peter Bowes, Bowes and Company Rus Heise, RBC Capital Markets Tim Schultz, Boettcher Foundation Marvin Buckels Doug Hock, Encana Corporation Chip Schweiger, Grant Thornton LLP Frank Cannon, Union Station Neighborhood Company Gene Hohensee Glen Sibley, Fleisher Smyth Brokaw Dee Chirafisi, Kentwood City Properties Don Hunt, Colorado Department of Transportation Mark Sidell, Gart Properties Cheryl Cohen-Vader, Stapleton Development John Ikard, FirstBank Holding Company David Sternberg, Brookfield Office Properties Corporation Jennifer Johnson, Gensler Jean Townsend, Coley/Forrest, Inc. Gene Commander, Polsinelli Shughart PC Stephen Jordan, Metropolitan State University of Denver David Tryba, Tryba Architects Gary Desmond, NAC Architecture Brian Klipp, klipp Meg VanderLaan, MWH Global, Inc. Kelly Dunkin, The Colorado Health Foundation Greg Leonard, Grand Hyatt Joe Vostrejs, Larimer Associates Greg Feasel, Colorado Rockies Baseball Club Roland Lyon, Kaiser Foundation Health Plan of Colorado Elbra Wedgeworth, Denver Health Patty Fontneau, Colorado Health Benefit Exchange Evan Makovsky, NAI Shames Makovsky Wendy Williams, Vector Property Services, LLC Mac Freeman, Denver Broncos Football Club Bill Mosher, Trammell Crow Company Michael Glade, Molson Coors Brewing Company Gene Myers, New Town Builders

Downtown Denver Information Sources eGo Carshare Hertz on Demand Business Improvement District ACS Census Data Apartment Realty Advisors History Colorado Center 2012 Board of Directors Auraria Higher Education Center LED On the Map Josh Comfort, Real Estate Development Services Brookings Institution Longwoods Ed Blair, The Embassy Suites Certifiably Green Denver New York Times Susan Cantwell, The Gart Companies City and County of Denver Newmark Knight Frank Frederick Ross Josh Fine, Focus Property Group Claritas Occasional Car Kevin McCabe, Newmark Knight Frank Frederick Ross Clyfford Still Museum Regional Transportation District Mike Zoellner, Red Peak Properties Colorado State University VISIT Denver Myra Napoli, REIT Management & Research CoStar Rick Kron, Grimshaw & Harring, P.C. Denver Art Museum Photography Denver B-cycle Photography by Larry Laszlo, CO/Media. DDP Staff Contributors / Editors Denver Business Journal Denver Center for Performing Arts The State of Downtown Denver report is created by the Graphic Design Denver Museum of Contemporary Art Downtown Denver Partnership Research Department. Megan Moye Zacher, Zebra Incorporated Development Research Partners Staff contributors and editors include: Cole Judge, Downtown DC Business Improvement District Aylene McCallum, John Desmond, Jim Kirchheimer, Downtown Denver Area Plan For errata Brian Phetteplace, Aneka Patel, Susan Rogers Kark, Ryan Downtown Denver Business Improvement District Please visit www.downtowndenver.com Sotirakis, Beth Warren, Bonnie Gross, Amanda Jimenez Downtown Denver Partnership and Tami Door. Downtown Seattle Association “ Cities have the capability of providing something for everybody, only because, and only when, they are CREATED BY EVERYBODY.” - Jane Jacobs

For errata, please visit www.DowntownDenver.com. DOWNTOWN DENVER PARTNERSHIP • 511 16th Street, Suite 200, Denver, Colorado 80202 • 303.534.6161