Top facts about the fast-growing Denver Tech Center
With a population growing more than 10% between 2010 and 2020, the Denver Tech Center and Greenwood Village area is one of the fastest-developing in Colorado.
Why it matters: The DTC is emerging as a major technology hub in the state, and beyond.
- Some of the most prominent companies in the area include Arrow Electronics, Comcast and Fidelity Investments.
By the numbers: The region has added nearly 12 million square feet of combined office, industrial, flex, and retail space since 2011, according to the latest data from the Denver South Economic Development Partnership.
- Some of the largest projects currently underway include the Westray Tower 1, which will add more than 351,000 square feet of office space. Another is BlueScope Logistics Center II, which will bring in nearly 305,000 square feet of industrial space.
Of note: Greenwood Village created an entertainment district in 2019 to infuse activity into the area. Building owners are offered sales tax incentives that fund renovations for repurposing the strip mall-style retail space.
- The plan appears to be working, with retail vacancy across the region at historic lows. The district has secured a number of restaurants and bars, including the Rouge Wine Bar & Patio, Pindustry and Shake Shack.
What they're saying: "There's a lot of companies leaving downtown Denver right now based on issues that are taking place there — and so we're the beneficiary of that," Greenwood Village Mayor George Lantz tells Axios Denver.
Yes, but: Between the pandemic emptying many office buildings to the latest woes surrounding the tech industry, the area has had its fair share of challenges despite a big boom in growth.
- From 2020 to 2022, office vacancy declined slightly but remains elevated at nearly 15%.
The big picture: The region is trending in the right direction and "seeing significant rebound now," Lantz says.
- "You look at the parking lots … and see the people around at lunch time. It's vibrant out there again," he says.
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