Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

A rendering of Crescent's RiNo development that recently broke ground. Image courtesy of Crescent Communities

If it seems like out-of-state developers are snatching up property in Denver, it's not your imagination.

What's happening: A handful of major developers — including two from North Carolina — are prospecting fast-growing cities like Denver.

  • The reasons are simple: the large talent pool, quality of life and manageable cost of living compared with large metros like New York and San Francisco.
  • Other top new cities on the list include Austin, Charlotte and Nashville.

What they're saying: Daniel Zunker, president of development at Kairoi Residential in Denver, described the four cities as the "new guard," fast-growing cities ripe for investment.

  • "That's where action is happening. That’s where businesses are going to be started. That’s where entrepreneurship is going to flourish," Zunker recently told Katie.

Between the lines: The market is ripe. Denver added more than 124,000 residents from 2010 to 2019, a 21% increase that exceeded the growth in total housing units, state figures show.

The state of play: Last month, Charlotte-based Crescent Communities made its debut in the city with a 483-unit luxury apartment building in RiNo, and more properties are in the pipeline.

  • "We wanted to be in what we believed will be a high-growth, high-potential market," said Brian Natwick, president and chief operating officer of Crescent.

Another developer, New York-based Acram Group, is close to finalizing a deal for a property in Denver, which will be its first in the city.

  • "It’s a market we’ve been trying hard to get into," managing principal Matt Cassin said.

Asana Partners, another Charlotte firm, acquired the historic Larimer Square in December from longtime owner Jeff Hermanson.

  • The company also put more than $11 million into numerous properties on Denver's beloved Tennyson Street in the last two years, the Denver Business Journal reports.

Of note: In Charlotte, Asana is well-known for pumping millions into historic properties in hot areas. It’s unclear what exactly Asana has planned for Larimer Square. A company representative declined to comment.

This story first appeared in the Axios Denver newsletter, designed to help readers get smarter, faster on the most consequential news unfolding in their own backyard.

Not a valid email format.
Not a valid email format.
Server error. Please try a different email.
Not a valid email format.
Not a valid email format.
Server error. Please try a different email.
Not a valid email format.
Not a valid email format.
Server error. Please try a different email.
Not a valid email format.
Not a valid email format.
Server error. Please try a different email.
Not a valid email format.
Not a valid email format.
Server error. Please try a different email.

Go deeper

Heat wave enveloping West will shatter records, spark wildfires

The sun sets behind power lines in Rosemead, California on June 14, 2021, amid an early season heatwave across much of California this week. Photo by Frederic J. Brown/AFP via Getty Images

A dangerous and widespread mid-June heat wave is bringing blowtorch-like heat, skyrocketing power demand, and “critical” wildfire danger to much of the West Tuesday through this weekend.

Why it matters: The heat is building in a region that is experiencing a record drought, leading to dangerous fire weather conditions, straining electrical grids, and causing water supplies to dwindle further. The heat itself may prove deadly.

28 mins ago - Health

U.S. COVID-19 death toll surpasses 600,000

Expand chart
Data: Johns Hopkins University; Chart: Danielle Alberti/Axios

More than 600,000 people have died from the coronavirus in the U.S., according to data from Johns Hopkins University.

The big picture: It's a higher death toll than the number of American soldiers killed in combat during the Vietnam War, World War I and World War II combined.