Since 2011, Denver has added nearly 600 stories of developments. This is the equivalent of 10 Republic Plazas. Republic Plaza has 56 stories and is currently the tallest building in Colorado.
Both the completed and ongoing developments have a total worth of $4.4 billion according to the 2016 Development Map. The map monitors Denver developments since 2011.
Since 2011, there has been a total of 73 developments, this includes 3.1 million square feet of office space, 6,447 residential units, and 2,457 hotel rooms.
Tami Door, the president and CEO of DDP related that the construction of more residential units, office space and hotel rooms was caused by Denver’s increasing population and robust job growth. The steady local economy has allowed Denver to evolve into a healthier community.
The report shows that out of $4.4 billion, a total of $2.7 billion has been complete. The remaining $1.7 billion is currently under construction.
Door believes that Denver property managers are able to encourage investors by sharing the details of the report. She also related investors are looking into Denver because the local economy is good and a suitable avenue for investments.
For 2016, there 11 ongoing investments, 10 of these are expected to be completed by 2017.