DENVER | Main Development Thread #7

[Robert.hampton]

Originally Posted by chickenbone

Are we seeing a shift in the balance away from the Tech Center and back toward Downtown? In the 90s, it seemed like nothing was being built downtown and most companies wanted to be in the Tech Center. Downtown was only for banks and oil companies. Now, it seems like the Tech Center is mostly law firms, insurance, and real estate companies, along with telecommunications. All the new tech companies seem to want to be in downtown, LoDo or RiNo.

I think that we are well beyond a shift. The shift probably started 6-8 years ago, and I think is now complete. I think companies view a downtown work space as an amenity that helps recruit workers, whereas a tech center office is a viewed as more of a liability than an asset when it comes to recruitment.

[jbssfelix]

Originally Posted by chickenbone

Are we seeing a shift in the balance away from the Tech Center and back toward Downtown? In the 90s, it seemed like nothing was being built downtown and most companies wanted to be in the Tech Center. Downtown was only for banks and oil companies. Now, it seems like the Tech Center is mostly law firms, insurance, and real estate companies, along with telecommunications. All the new tech companies seem to want to be in downtown, LoDo or RiNo.

Can you tell my software employer to get on the bandwagon, please?

[CherryCreek]

Originally Posted by Robert.hampton

I think that we are well beyond a shift. The shift probably started 6-8 years ago, and I think is now complete. I think companies view a downtown work space as an amenity that helps recruit workers, whereas a tech center office is a viewed as more of a liability than an asset when it comes to recruitment.

Perhaps, but there's also very low vacancy and some significant construction in the tech center.

Also, the largest employer to most recently invest in metro Denver is Charles Schwab with their massive campus on the extreme southern reaches of the metro area.

As much as we talk about tech companies, financial services are a huge, huge driver of jobs and growth in metro Denver. Those type of companies are well represented in the tech center, though you obviously also have some downtown.

[Agent Orange]

San Francisco 2.0 accelerates. I might be more excited about this if I were a homeowner. And if we didn't have to use public subsidies to accomplish this.

Originally Posted by CherryCreek

As much as we talk about tech companies, financial services are a huge, huge driver of jobs and growth in metro Denver. Those type of companies are well represented in the tech center, though you obviously also have some downtown.

This is true for my niche of finance. I work downtown but nearly all of the companies I might go to work for in the future are in the Tech Center. I'd have to be offered a pretty hefty raise to consider that since it would be a massive lifestyle change to return to the commute grind.

[Robert.hampton]

Originally Posted by Agent Orange

San Francisco 2.0 accelerates. I might be more excited about this if I were a homeowner. And if we didn't have to use public subsidies to accomplish this.

N Carolina legislatures seem to think they have Apple's new campus in the bag -- I'm surprised they would go to a state with such regressive social policies. Count me in as one that would much rather have a modest Apple campus over the behemoth of Amazon HQ2, though it doesnt seem we are in a serious running for it.

[TakeFive]

Originally Posted by Robert.hampton

N Carolina legislatures seem to think they have Apple's new campus in the bag -- I'm surprised they would go to a state with such regressive social policies. Count me in as one that would much rather have a modest Apple campus over the behemoth of Amazon HQ2, though it doesnt seem we are in a serious running for it.

This article from two days ago covers the Apple topic well. Fwiw, Apple by-passed Denver years ago when it went to Austin. Now, like Amazon, it wants an east cost time zone presence. If they ever bring fabrication back to the U.S., Phx thinks it has a good chance. Apple recently completed its new flagship data center there, a $2 billion gem. Many of the biggest tech companies still prefer a campus setting.

[Stonemans_rowJ]

WeWork is opening a 4th downtown location this year too

[Robert.hampton]

Originally Posted by TakeFive

This article from two days ago covers the Apple topic well. Fwiw, Apple by-passed Denver years ago when it went to Austin. Now, like Amazon, it wants an east cost time zone presence. If they ever bring fabrication back to the U.S., Phx thinks it has a good chance. Apple recently completed its new flagship data center there, a $2 billion gem. Many of the biggest tech companies still prefer a campus setting.

The whole east coast time zone argument for Apple is totally bunk—-two of their four existing campuses are in the eastern time zone.

[TakeFive]

Originally Posted by Robert.hampton

The whole east coast time zone argument for Apple is totally bunk—-two of their four existing campuses are in the eastern time zone.

I know; the real reason is the Trump factor. Guy just has this aura and magnetism about him (and if you think about it there could be more to this than meets the eye).

[spr8364]

Originally Posted by TakeFive

This article from two days ago covers the Apple topic well. Fwiw, Apple by-passed Denver years ago when it went to Austin. Now, like Amazon, it wants an east coast time zone presence. If they ever bring fabrication back to the U.S., Phx thinks it has a good chance. Apple recently completed its new flagship data center there, a $2 billion gem. Many of the biggest tech companies still prefer a campus setting.

From what I have heard, the Apple campus they are talking about is not a high wage location. It is low wage. That is why they need to go somewhere where the cost of living is low.

[Robert.hampton]

Originally Posted by spr8364

From what I have heard, the Apple campus they are talking about is not a high wage location. It is low wage. That is why they need to go somewhere where the cost of living is low.

It looks like the Raleigh papers are saying they average salary fro the jobs is 130.

[TakeFive]

Originally Posted by TakeFive

(and if you think about it there could be more to this than meets the eye).

Just to explain my thinking here... up until about a decades or so ago larger tech companies had successfully avoided anything political; then they 'woke' up and decided they should at least retain some legal/lobbyists connections so when things popped up in Congress that might concern them they would have the connections needed in place to react.

With a crazy twitter President one never knows which flank may be attacked on any given morning. Google was the first company to drop a boatload of money when they landed in NYC. Having a prominent presence near the seat of power may not be necessary but it sure isn't a bad idea.

Amazon and Apple are notoriously cheap. The reason Apple landed in Austin is because of all the 'green' and I wouldn't be referring to the landscape.

Some years ago Apple backed a new tech glass maker (for their phones) and bought out a large very high quality facility that First Solar had built in Mesa AZ but later moved all their manufacturing to Ohio (in addition to their foreign sites). Before this glass company started manufacturing Apple cut a deal with the AZ state legislature via an executive session. Afaik nobody has ever read the legal agreement that resulted although they did release summary details of incentives.

Recently Amazon stopped construction on new building in Seattle because they were pissed Seattle was threatening to pass a head tax to deal with the homeless which they in fact did.

Something else to consider... While tech companies will get involved in social issues relative to diversity since diversity is all important to them they don't otherwise advocate for political parties (as a corporation). With respect to their businesses, they don't just sell to liberals. If Apple or Amazon were to pick a red state it would be a nice way of saying we respect and appreciate the business we get from conservatives just as much as from liberals. The other possible advantage is they might just save some greenbacks by doing so.

[mhays]

People have been misreading Seattle headlines...Amazon didn't stop construction of anything. They stopped planning for a moderate-sized planned building. It's now back on again because the head tax is much less than the original proposal (though still a sizable tax).

Stopping construction is a pretty big deal, at a very large cost, particularly if you're not at a convenient point like getting back to ground level.

[DenvertoLA]

Originally Posted by TakeFive

Something else to consider... While tech companies will get involved in social issues relative to diversity since diversity is all important to them they don't otherwise advocate for political parties (as a corporation). With respect to their businesses, they don't just sell to liberals. If Apple or Amazon were to pick a red state it would be a nice way of saying we respect and appreciate the business we get from conservatives just as much as from liberals. The other possible advantage is they might just save some greenbacks by doing so.

Amazon's conveyance will get people of a different ideology. I think Jeff is more concerned about his employees wellbeing. This is a pretty good read about why Amazon most likely won't go to a souther state.

"Amazon and its founder have a strong record of LGBT rights. In 2012, Bezos and his wife donated $2.5 million in support of Referendum 74, which asked voters if they supported same-sex marriage in Washington state." (when asked to donate $100,000 by a former employee)

http://fortune.com/2018/04/27/lgbt-rights-amazon-hq2/

[Matt]

Just a candid shot in overcast skies from an angle not too often photographed... taken today.

[TakeFive]

Originally Posted by DenvertoLA

Amazon's conveyance will get people of a different ideology. I think Jeff is more concerned about his employees wellbeing. This is a pretty good read about why Amazon most likely won't go to a souther state.

"Amazon and its founder have a strong record of LGBT rights. In 2012, Bezos and his wife donated $2.5 million in support of Referendum 74, which asked voters if they supported same-sex marriage in Washington state." (when asked to donate $100,000 by a former employee)

http://fortune.com/2018/04/27/lgbt-rights-amazon-hq2/

There's always more than one way to read things; it's also possible to read too much into any one thing. Are there members of the LGBT community in N Carolina? Ofc there is. Does Amazon support that community by refusing to consider N. Carolina?

[DenvertoLA]

Originally Posted by TakeFive

There's always more than one way to read things; it's also possible to read too much into any one thing. Are there members of the LGBT community in N Carolina? Ofc there is. Does Amazon support that community by refusing to consider N. Carolina?

Not considering N. Carolina and publicly saying their discriminatory laws were the reason would be supporting the LGBT community. N. Caroline a few years back was national news for it's crazy bathroom laws. If the discriminatory laws prove to be harmful to a states economy, then they will vanish fast.

Of course that doesn't mean there are no LGBT people in that state, they are everywhere. Is a states policy on LGBT rights Bezos's sole factor for selecting a location? No, but he is definitely aware of it, and it is probably a weighted element.

[BG918]

Rendering of DU's new residence hall and student center at High & Evans. They are currently doing asbestos abatement on all of the old houses along High preparing for demolition.





https://letsgodu.com/2018/05/21/phas...collaboration/

[wong21fr]

Originally Posted by BG918

Rendering of DU's new residence hall and student center at High & Evans. They are currently doing asbestos abatement on all of the old houses along High preparing for demolition.





https://letsgodu.com/2018/05/21/phas...collaboration/

The residence halls are fine, but I am not feeling the new student center. Not enough of the Richie era classical architecture in the design. The alumni center is even worse.

[TakeFive]

https://www.bisnow.com/national/news...ttention-88424

“Our activity level will increase,” Crescent Communities President and CEO Todd Mansfield said. Keep your eyes open, Denver, Austin, Dallas and Charlotte: This means you.

Well, you've been busy in Dallas; why you no like Denver so much?

“We’d like to be more active in Denver. We have team members in Denver and for whatever reason we’ve just not made investments; we’ve looked at a number of things and we’ve tried to make some investments, but the economics have been challenging,” Mansfield said.

You low on cash?

When Crescent Communities was purchased by Japanese company Sumitomo Forestry America Inc., its corporate debt was paid off. So what is the Charlotte, North Carolina-based developer going to do with all the extra money, now that it doesn’t have to pay interest?

Denver here we come. Interesting article.