New data reveals the state of downtown Denver 5 years post-pandemic
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A view of downtown Denver in May 2024. Photo: Hyoung Chang/The Denver Post via Getty Images
Whether downtown Denver is hurting or healing depends on who you ask — but new data shows it's doing both.
Why it matters: The city's urban core is still finding its footing after COVID spurred the collapse of office culture and pedestrian life.
Driving the news: The Downtown Denver Partnership this month released its 2024 report on the "State of Downtown Denver."
- Here's what we learned from the 40-page report:
🏢 Office vacancy hit 27%, nearly 7 points above the national average — and worse than comparable tech hubs Seattle and Austin.
🚶 Daily foot traffic remains down by 53,000 pedestrians compared with pre-pandemic levels.
👔 Return to office remains sluggish in key areas like Skyline Park, where it sits at 47% of 2019 figures.
💸 Housing remains unaffordable for many despite falling rents. A one-bedroom apartment requires an annual income of nearly $77,000, pricing out 41% of the city's residents.
🏡 Only 21% of downtown households own their homes, compared with 49% citywide.
👎 Downtown visitor satisfaction plummeted, with 55% rating their downtown experience as "great" — down from 70% in both 2021 and 2023, Gensler's Jon Gambrill said during a presentation of DDP's report.
Yes, but: There are bright spots, too.
💰 Downtown pulled in $1.2 billion in investment last year, delivering 700,000 square feet of office space, more than 2,000 residential units and 265 hotel rooms.
🧑🧑🧒🧒 The area's population more than doubled since 2010, now at 33,000 residents.
📈 Growth projections exceed both metro area and statewide forecasts through 2029.
🛍️ Retail sales are climbing — up 4.7% year over year, ahead of the rest of the city.
🚨 Violent crime fell 8% year over year, and property crime dropped 9%.
What's next: Mayor Mike Johnston's new safety initiative aims to expand police presence downtown to further tamp down crime, increase foot traffic, and improve people's perception of the area.
- Local business owners, including Jax Fish House's Dave Query — who recently told Johnston the area was "completely falling apart" — have praised the effort, BusinessDen reports.
What we're watching: All eyes are on the summer unveiling of the long-awaited 16th Street Mall renovation — viewed by city leaders as the catalyst needed to restore downtown's appeal and repair its reputation.