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  #3661  
Old Posted Sep 19, 2018, 4:17 AM
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The degree to which downtown Denver and adjacent districts like RiNo are drawing tech firms from suburban areas and from out of state is quite remarkable. The "go downtown" movement, which certainly has been a thing since we came out of the recession, seems to have accelerated in the past year or two to a whole new level.

This is a fun website to play around with:

https://www.cyberstates.org/

According to their data, Colorado has 285,300 tech workers (Washington state has 363,500, Utah has 135,500, Arizona has 237,100) and of that, Denver metro has 173,900 workers--which does not even include Boulder County, clearly a tech hotspot.

Anyway, employment growth in downtown--particularly tech--has been remarkable this real estate cycle. In past booms, it seemed that most of the office leasing action in downtown was firms moving around within downtown from building to building. This cycle, there is clearly a big in-migration of jobs to Downtown, with new office development to match.

Just these two announcements of VF Corp. and Slack is over 300,000 SF of net absorption in one day. That's pretty amazing.
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  #3662  
Old Posted Sep 19, 2018, 4:50 AM
Agent Orange Agent Orange is offline
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Quote:
Originally Posted by DenverInfill View Post
The degree to which downtown Denver and adjacent districts like RiNo are drawing tech firms from suburban areas and from out of state is quite remarkable. The "go downtown" movement, which certainly has been a thing since we came out of the recession, seems to have accelerated in the past year or two to a whole new level.

This is a fun website to play around with:

https://www.cyberstates.org/

According to their data, Colorado has 285,300 tech workers (Washington state has 363,500, Utah has 135,500, Arizona has 237,100) and of that, Denver metro has 173,900 workers--which does not even include Boulder County, clearly a tech hotspot.

Anyway, employment growth in downtown--particularly tech--has been remarkable this real estate cycle. In past booms, it seemed that most of the office leasing action in downtown was firms moving around within downtown from building to building. This cycle, there is clearly a big in-migration of jobs to Downtown, with new office development to match.

Just these two announcements of VF Corp. and Slack is over 300,000 SF of net absorption in one day. That's pretty amazing.
It makes me hopeful that Tabor 2 will deliver. Heck with all of this news, I wonder if there's a chance they'd go for more height. Allow me to channel my inner Matt--it surprises me that we've only seen one new tower during this cycle which has made an impact on the skyline. Union Station and Lodo have the hottest parts of downtown for office construction, and both areas have height restrictions. Perhaps the next cycle will see attention shift toward upper downtown and we might see something more vertical.

Which reminds me of this image I came across through Nextdoor. It's related to the Sherman rezoning (which of course many of my neighbors are against).


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  #3663  
Old Posted Sep 19, 2018, 5:11 AM
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Quote:
Originally Posted by DenverInfill View Post
The degree to which downtown Denver and adjacent districts like RiNo are drawing tech firms from suburban areas and from out of state is quite remarkable. The "go downtown" movement, which certainly has been a thing since we came out of the recession, seems to have accelerated in the past year or two to a whole new level.

According to their data, Colorado has 285,300 tech workers (Washington state has 363,500, Utah has 135,500, Arizona has 237,100) and of that, Denver metro has 173,900 workers--which does not even include Boulder County, clearly a tech hotspot.

Just these two announcements of VF Corp. and Slack is over 300,000 SF of net absorption in one day. That's pretty amazing.
I've felt the acceleration over the last three years in Denver tech growth.

There has been just a ton of post-recession tech growth driven substantially by growth in the 'cloud' and it seems there's endless software application opportunities. Tech expansion has become an urban/millennial thing everywhere since the recession as well.

Phoenix which has always had a significant hardware industry in suburban Chandler has seen lots of tech back office/support expansion in urban areas of Tempe and Scottsdale. Interestingly, the more innovative software and coworking space is choosing downtown Phoenix.

In any case, Denver's strength has become a combination of diversity and tech growth. VF Corp and Slack are but one day's proof positive.
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  #3664  
Old Posted Sep 19, 2018, 3:33 PM
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It makes me hopeful that Tabor 2 will deliver.
Now now... Let's not celebrate the end of the development cycle quite yet.
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  #3665  
Old Posted Sep 19, 2018, 4:23 PM
dwalk dwalk is offline
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[QUOTE=Denver;8319040]10th and Acoma. Looks great but I doubt it is the final design.

Interesting the amount of brick used for a non-lodo location. Hopefully they break up the podium along the longer portion a little more (a la Market Street Station). I kinda like the wood grain-esque panels with glass pop-out sections.
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