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Originally Posted by BG918
Greystar is currently building 3 projects in Denver: Parc on Speer (Speer & Bannock), The Pullman (Ascent Union Station) and one of the new apartment towers at 9th & Colorado. If 18M actually breaks ground then I’ll say that T2 could actually happen.
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Thanks for the update/correction. I should have at least remembered 'Ascent' - now The Pulman. In any case it's great to have Greystar now jumping in with both feet to the development scene.
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Originally Posted by mhays
Office growth is based on economic conditions, and specific demand from big companies. One city's office market says very little about another city's.
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Seattle and Denver are very different from each other. Seattle's current catalyst is vibrant clear with Amazon's accumulation of tons of space along with the obvious ripple growth affect.
With one exception (Davita), all of Denver's Fortune 500 HQ's are (still) in the suburbs and Denver keeps losing HQ's to mergers as fast as they gain them. What downtown Denver benefits from is its own booming economy that's more granular and diverse. When Hines broke ground (June 2015) on their over 650,000 SF, speculative office building (1144 15th Street) nobody (at least me) knew how much demand or how quickly the project would lease up. It's been Not a problem. Bottom Line is that Denver's growth is much more opaque, less predictable than Seatte's. Fortunately it's been like the energizer bunny.
Speaking of Amazon
https://www.bizjournals.com/denver/n...hort-list.html
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According to The New York Times, there is “widespread speculation” Amazon could cut down its 20-city short list for its second headquarters as soon as this month. The company would then ask for “best-and-final offers” from the remaining cities, according to the report.
Amazon CEO Jeff Bezos ... is said to be “incentive-obsessed” in his company’s HQ2 hunt... “His whole team is charged with getting the largest pound of flesh possible out of every jurisdiction they are in,” the person said. “It’s about money and about the spreadsheet, but it’s also about being wanted and this gesture he expects from the governments where he’s blessing the community with high-wage jobs.”
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