DENVER | Main Development Thread #7

[BrIced_Tea]

Anecdotal evidance that downtown is not doomed, but I work downtown (and ride a bike to work HAHA) and with the warm weather this week, 16th Street has been absolutely bumping with people. Plus I was down at a Rockies game this past Sunday and LoDo was swarming with everyone going to Rockies / Avs games or watching from sports bars. I think a lot of the Doomers must have not visited downtown since COVID. If developers can solve the office -> residential conversion problem, the like 4 square blocks of the CBD that are still kind of dead will catch up to the rest of downtown.

If any part of the city is going to suffer from the rise of Cherry Creek its the Tech Center (and rightfuly so because the urban fabric down there is truly awful.)

[TakeFive]

The Revolving World of Tech

It's Good News is that Denver still appeals to NEW entrants to the market. Litera isn't likely to grow in Denver as Denver was the 8th location they have opened in the last year; still, it's nice to have them.

The continued contraction of Big Tech is likely bad news for the West Coast.

JUST TODAY

Meta just announced and additional 10% cut or about 8,000 employees. Of course they have offices all over the place but in addition to their HQ in Menlo Park, California they also have a lot of employees in Seattle. Couple of years ago Meta gave up two floors in downtown Denver but added the top floor on a new lease at 1900 16th Street.

Microsoft just announced buyouts for about 7% of the workforce or about 16,000 employees. Their HQ is in Redmond WA near Seattle.

Nike announced an additional 1,400 layoffs; they are located outside of Portland OR

[TakeFive]

Nice Post

Originally Posted by BrIced_Tea

Anecdotal evidance that downtown is not doomed, but I work downtown (and ride a bike to work HAHA) and with the warm weather this week, 16th Street has been absolutely bumping with people. Plus I was down at a Rockies game this past Sunday and LoDo was swarming with everyone going to Rockies / Avs games or watching from sports bars. I think a lot of the Doomers must have not visited downtown since COVID. If developers can solve the office -> residential conversion problem, the like 4 square blocks of the CBD that are still kind of dead will catch up to the rest of downtown.

If any part of the city is going to suffer from the rise of Cherry Creek its the Tech Center (and rightfuly so because the urban fabric down there is truly awful.)

With the Dodgers in town the Rockies sold out Saturday (nearly 48.000) and Sunday, normally a slow day attendance was over 42,600.

I'll mostly disagree about the DTC but it's certainly possible they could lose tenants to Cherry Creek. But for the most part those tenants like the area and their rents are (now) well below Cherry Creek.

Developer Shea Properties looks to bring ‘Cherry Creek sizzle’ to Denver Tech Center
October 23, 2025 By Matthew Geiger | BusinessDen vis The Denver Post

Peter Culshaw is building out what he thinks is the future of the Denver Tech Center in his own backyard. “We live five miles west of here. I can drive to Cherry Creek, but it’s a half an hour drive, and we don’t really want to go down there and mess with the parking. And the idea is to bring Cherry Creek sizzle to the Tech Center, available for folks living and working here,” Culshaw said.

The executive with Shea Properties leads its Colorado operations out of an office building at 8351 E. Belleview Ave. that was fashioned from a former 24 Hour Fitness. Just west of its office, Shea broke ground this summer on a redevelopment of the 13-acre Marina Square retail site.

Just west of its office, Shea broke ground this summer on a redevelopment of the 13-acre Marina Square retail site. The firm demolished the roughly 45-year-old, 94,000-square-foot shopping center and is building 481 apartments and space for 10 retailers across 32,000 square feet.

The other advantage with the Tech Center is that NO BIKES are allowed.




Postscript: Here's a photo of the site


Courtesy Matt Geiger/BusinessDen

[RiNo Randy]

Originally Posted by TakeFive

Nice Post

With the Dodgers in town the Rockies sold out Saturday (nearly 48.000) and Sunday, normally a slow day attendance was over 42,600.

I'll mostly disagree about the DTC but it's certainly possible they could lose tenants to Cherry Creek. But for the most part those tenants like the area and their rents are (now) well below Cherry Creek.

Developer Shea Properties looks to bring ‘Cherry Creek sizzle’ to Denver Tech Center
October 23, 2025 By Matthew Geiger | BusinessDen vis The Denver Post

The other advantage with the Tech Center is that NO BIKES are allowed.




Postscript: Here's a photo of the site


Courtesy Matt Geiger/BusinessDen

Well, the Rockies averaged nearly 30K per game last season with a really terrible team. This year isn't shaping up great. Yes, the Dodgers do pull extra fans in.

Why would "No bikes allowed in DTC" be a good thing? You are really exposing yourself on that issue, BTW.

[RiNo Randy]

Originally Posted by BrIced_Tea

Anecdotal evidance that downtown is not doomed, but I work downtown (and ride a bike to work HAHA) and with the warm weather this week, 16th Street has been absolutely bumping with people. Plus I was down at a Rockies game this past Sunday and LoDo was swarming with everyone going to Rockies / Avs games or watching from sports bars. I think a lot of the Doomers must have not visited downtown since COVID. If developers can solve the office -> residential conversion problem, the like 4 square blocks of the CBD that are still kind of dead will catch up to the rest of downtown.

If any part of the city is going to suffer from the rise of Cherry Creek its the Tech Center (and rightfuly so because the urban fabric down there is truly awful.)

Completely agree.

[TakeFive]

Originally Posted by RiNo Randy

Why would "No bikes allowed in DTC" be a good thing? You are really exposing yourself on that issue, BTW.

Are you unable to see images that are posted? Assuming that is the case, that statement wasn't meant to be taken seriously.

I take that you're not familiar with the DTC - which is fine. Staying closer to downtown does Cherry Creek have any bike lanes?

With respect to the DTC that area has great potential for more urban-suburban redevelopment over the next decade. There is soo much land that is underutilized it's easy to see mixed-use re-development in its place.

Originally Posted by TakeFive

The Revolving World of Tech

JUST TODAY

Leasing of office space for AI has been very active. The two big winners where large amounts of space have been leased in 2026 are NYC and San Francisco. Whether there's a spillover to Seattle, not sure. Small potatoes leases that are AI driven can happen anywhere of course.

[RiNo Randy]

Originally Posted by TakeFive

Are you unable to see images that are posted? Assuming that is the case, that statement wasn't meant to be taken seriously.

I take that you're not familiar with the DTC - which is fine. Staying closer to downtown does Cherry Creek have any bike lanes?

With respect to the DTC that area has great potential for more urban-suburban redevelopment over the next decade. There is soo much land that is underutilized it's easy to see mixed-use re-development in its place.

There's an old saying about there always being a little truth in kidding. But quite frankly it's getting old.

There is the Cherry Creek bike trail....

Nice assumption that I'm not familiar with DTC. In an earlier post I mentioned that I used to drive from Park Hill to Meridian Business Center for 10 years.

[TakeFive]

Originally Posted by RiNo Randy

There's an old saying about there always being a little truth in kidding. But quite frankly it's getting old.

There is the Cherry Creek bike trail....

Nice assumption that I'm not familiar with DTC. In an earlier post I mentioned that I used to drive from Park Hill to Meridian Business Center for 10 years.

I was only having a little fun with BrIced_Tea -- the post to which I responded. Sorry it bothered you.

Yes, there's the Cherry Creek Trail. I believe it's nearly 40 miles and in the Indian Creek neighborhood it's gets close to the High Line Canal Trail which is like 70 miles long.

Ah yes, thanks for reminding me of your commute to Meridian. Sorry I didn't remember.

[RiNo Randy]

Also, I thought I mentioned this earlier as well. But thought I might reiterate it in case anyone thinks my opinions or ideas aren't relevant.

I'm original from rural mid-Michigan. I first moved to the area in 1999. Lived in Lone Tree, Highlands Ranch and Castle Rock for three years (proximity to MBP).

That move was from SoCal, where I had lived in Costa Mesa and Aliso Viejo while working in Torrance for about a year.

After Castle Rock I lived in Las Vegas for two years, Albuquerque for a year, Phoenix (Ahwatukee) for two years. Then back to Park Hill for ten. Then to Plano and McKinney, TX for six miserable years. Bought my condo in RiNo back in 2015. Grateful to have kept it when I moved to the one star state (rating, not motto). I also have family in the Houston area, so I'm familiar with that shitshow as well.

I also spent 28 year in the automotive realm, 25 on the corporate side of things. I long for the day when I will no longer need a car. I rarely drive as it is.

[TakeFive]

You and your friends throw one hell of a party

Originally Posted by BrIced_Tea

Anecdotal evidance that downtown is not doomed, but I work downtown (and ride a bike to work HAHA) and with the warm weather this week, 16th Street has been absolutely bumping with people. Plus I was down at a Rockies game this past Sunday and LoDo was swarming with everyone going to Rockies / Avs games or watching from sports bars. I think a lot of the Doomers must have not visited downtown since COVID. If developers can solve the office -> residential conversion problem, the like 4 square blocks of the CBD that are still kind of dead will catch up to the rest of downtown.

Blockbuster Denver sports weekend brings in more than $172 million, per Visit Denver
Apr 25, 2026 By: Claire Lavezzorio -- Denver7 News

DENVER — A blockbuster sports weekend in Denver featuring some of the biggest stars brought in more than $172 million to the local economy, according to a new report from Visit Denver.

From April 17-19, more than 250,000 sports fans flocked to the city to see athletes like Nikola Jokic, Lionel Messi and Shohei Ohtani.

Not just for the locals.

According to Visit Denver, the weekend also drew in nearly 37,000 overnight visitors. Fans spent money at stadiums, arenas, hotels, restaurants and other attractions.

"I think one of the best parts is we got to see so many people not from Denver come and especially from around the world," said Braden Wormke, a sales associate at apparel shop Sportsfan.

[TakeFive]

How’s the state of downtown Denver ahead of new macroeconomic challenges?
April 23, 2026 By Bernadette Berdychowski -- The Denver Gazette

Note: This article is based significantly on information from the Downtown Denver Partnership and the Downtown Denver Report

In 2025, Downtown Denver started to see some hopeful signs of a nearly full recovery from the pandemic and 16th Street’s overhaul — just as Colorado had begun to see job losses and rising fuel prices reverberate across the economy.

Visits have substantially recovered.

Total visits in 2025 reached 73 million, up from 72 million in 2024, the report said. Downtown is still short 8 million yearly visitors compared to 2019. The trend of improving foot traffic has continued into 2026.

Breaking down the data further, Downtown Denver Partnership CEO Kourtny Garrett said downtown has actually outperformed during weekends and major events. She explained the data shows people will go downtown if they’re given something to do.

"Office market continues to see rising vacancies"

The empty office real estate market will continue to be one of downtown’s major vulnerabilities, Garrett said.

Downtown Denver’s office vacancy rose to nearly 39% in the first quarter of 2026, according to commercial real estate firm CBRE.

Denver to follow the trend being seen in most cities.

Still, there’s been an “acceleration” of leasing in Class A downtown office space, the newest and best in class real estate, CBRE said. Over the next few years, the real estate firm said the conversation in downtown will begin to shift to recognizing an “undersupply” of premium office space.

The unique (at least to Denver) is the competition from new developing space in Cherry Creek but I have no doubt many tenants would be content or even prefer being downtown.

The challenge is more about how can we grow the pie rather than just splitting the pie.

Going into 2026, downtown is about to face new headwinds. Colorado saw a contracting labor market in 2025, newly revised federal labor data shows. The effect is evident in downtown as employment fell nearly 2%, according to the downtown partnership’s report.

Now, the question is whether downtown is resilient to weather new storms as it’s still recovering from the last one?

Garrett said she thinks it can. The partnership has started to analyze new data to develop strategies to attract new technology companies to downtown and identify what other industries can help drive demand and job growth, she said.

The article also discusses retail but I'm passing on that.

[TakeFive]

It's always something



AI Overview

A standoff in downtown Denver, reported as of April 2026, highlights the conflict between a coworking tenant and a landlord in the city's struggling Upper Downtown submarket...

The Key Players

• Landlord (Minority Partner): Tim Borst, who is aiming to convert the 1950s-era Petroleum building at 110 16th St. into 178 residential units, a project backed by a $14 million loan from the Denver Downtown Development Authority
• Tenant: Paul Sheperd, who operates a 23,000-square-foot Venture X franchise across the top two floors of the building
• The Lease: Sheperd has 10 years remaining on his lease and has refused to vacate until his initial $500,000 investment to purchase the business is repaid. Sheperd asked for a $3 million buyout, citing years of maintaining the space through COVID-19 and 16th Street Mall construction.
• The Landlord's Position: Borst, who sold the business to Sheperd in 2021, stated the partnership is not interested in buying it back, noting the building has deteriorated further.

[TakeFive]

How impressive is this?

Mile High CRE broke the story (along with others)

Continuum Partners Acquiring San Francisco’s Ghirardelli Square
April 27, 2026 -- Mile High CRE

Denver-based developer Continuum Partners is part of an ownership group led by Embrace Real Estate and its affiliate 1823 Partners, an independent asset management firm, that has acquired the iconic Ghirardelli Square in San Francisco from Jamestown.

For those not particularly familiar with Denver-based Continuum Partners.

Continuum Partners has been nationally recognized for its work across a diverse portfolio that includes the Denver Union Station transit neighborhood and the Belmar mixed‑use district, both recipients of the Urban Land Institute’s Global Award for Excellence, as well as Denver’s 9+CO and Market Station, and significant projects in downtown Los Angeles.

Ghirardelli Square


Courtesy Visit California

Embrace Real Estate, in partnership with Continuum Partners, will lead the property’s business plan, leasing, and day-to-day operations. This transaction marks a generational transfer of one of the country’s most recognized mixed-use destinations.

Ghirardelli Square encompasses 12 buildings along the San Francisco waterfront, with origins dating to 1862. Listed on the National Register of Historic Places and widely regarded as the first major adaptive reuse project in the United States, the property is home to the Ghirardelli Chocolate Company’s U.S. flagship, a collection of restaurants and retailers, a Fairmont Heritage Place hotel, and the 19-foot illuminated Ghirardelli sign that has been part of the city’s skyline since 1915. The property welcomes nearly nine million visitors each year, supported by a strong base of destination tourism alongside consistent local and regional demand.

[RiNo Randy]

Here's a question for the crowd.

Which significant project will break ground next within Denver city limits?

Here are a few that I can think of currently:

Final parcel at Union Station (19th and Chestnut)
Greyhound Station Redevelopment (19th and Arapahoe)
Denargo Market
Denver Rock Drill
Cherry Creek West
Ball Arena Redevelopment Phase One
Second set of condo towers at Upton Residences
Fox Park (next phase - I believe the parking structure was completed first)
Other (please list project)

Discuss.

[wong21fr]

Originally Posted by RiNo Randy

Here's a question for the crowd.

Which significant project will break ground next within Denver city limits?

Here are a few that I can think of currently:

Final parcel at Union Station (19th and Chestnut)
Greyhound Station Redevelopment (19th and Arapahoe)
Denargo Market
Denver Rock Drill
Cherry Creek West
Ball Arena Redevelopment Phase One
Second set of condo towers at Upton Residences
Fox Park (next phase - I believe the parking structure was completed first)
Other (please list project)

Discuss.

I'd put my money on Ball Arena Phase 1 or Cherry Creek West as the next big project to kick off.


Or the Lifetime Fitness in Northfield since we're scrapping the bottom of the barrel.

[TakeFive]

Slam Dunk

Originally Posted by wong21fr

I'd put my money on Ball Arena Phase 1 or Cherry Creek West as the next big project to kick off.

Or the Lifetime Fitness in Northfield since we're scrapping the bottom of the barrel.

It could look like this:


Courtesy Lifetime Fitness

Kroenke has the ability but doesn't seem to be in any hurry. Maybe in 2027?

Cherry Creek West is scaping ground but so far as going vertical on their first office building I'd pencil that in for 2027 too. They could perhaps 'break' ground late in the year though.

IIRC the developer on Fox Park is from Indiana and they may have the ability. But I don't follow Fox Park and have no clue.

[TakeFive]

Another HQ is hopping on the train to Miami

Gratefully, there won't be any celebrating from Denver's Clown Circus of demonstrators.

The Real Brokerage Inc. to Acquire RE/MAX in $880M Deal
April 28, 2026 -- Mile High CRE

In a move set to reshape the residential brokerage landscape, The Real Brokerage Inc. will acquire RE/MAX Holdings in a deal valued at approximately $880 million, creating a new global platform under the Real REMAX Group name and moving the RE/MAX HQ from Denver to Miami, Florida.

The acquisition brings together two complementary business models: Real’s AI-powered, high-growth brokerage platform, proprietary software, and vibrant agent community with REMAX’s iconic real estate brand and expansive global franchise network with a presence in more than 120 countries and territories and more than 145,000 agents. Re/Max has been headquartered in Denver since the 1970s.

The transaction is expected to close in the second half of 2026.

What about financing?

The transaction is not subject to financing. Real has secured a $550 million financing commitment arranged by Morgan Stanley Senior Funding, Inc. and Apollo Global Funding, LLC as joint lead arrangers and bookrunners to refinance RE/MAX Holdings’ existing debt and to fund the cash portion of the transaction consideration and transaction costs.

[Fritzdude]

Originally Posted by TakeFive

Slam Dunk

It could look like this:


Courtesy Lifetime Fitness

Kroenke has the ability but doesn't seem to be in any hurry. Maybe in 2027?

Cherry Creek West is scaping ground but so far as going vertical on their first office building I'd pencil that in for 2027 too. They could perhaps 'break' ground late in the year though.

IIRC the developer on Fox Park is from Indiana and they may have the ability. But I don't follow Fox Park and have no clue.

Stan Kroenke is nearly 79 years old. Seems like he’d have a little more urgency to get these plans going. Wonder who takes over the empire once he’s out of the picture..?

[RiNo Randy]

Originally Posted by wong21fr

I'd put my money on Ball Arena Phase 1 or Cherry Creek West as the next big project to kick off.

I tend to agree, except that Denargo Market and Fox Park are shovel ready.

All of the others aren't that close.

[RiNo Randy]

Originally Posted by Fritzdude

Stan Kroenke is nearly 79 years old. Seems like he’d have a little more urgency to get these plans going. Wonder who takes over the empire once he’s out of the picture..?

They say you can't take it with you. But it seems like some of these folks think they can...