WHAT’S DRIVING DENVER?
“Regardless of your economic outlook,
someone has got to execute.”
by Luke Miller and Ian Neadle, AAMD
Photos courtesy of Victor Sanchez, imADgine Studios
The 2016 Winter Economic Conference drew a crowd of over 400 to
the Marriott Denver Tech Center on January 28th. With Denver growth
continuing, the main question was, “Where is the force behind this drive
coming from?”
Though the 4th quarter of 2015 reflected a 6.8% rise in vacancy rates
and a 13.7% economic vacancy (according to the Vacancy and Rent Survey),
the Colorado Department of Local Affairs State Demographer Elizabeth
Garner presented reassuring data that the future of Denver, and Colorado
overall, is going to be brighter than before.
A combination of economic growth and upcoming generations will
create a substantially higher rental demand than what is currently present.
Job growth peaked in 2014 but continues to grow at a consistent rate. In the
meantime, the Baby Boomer generation (ages 65+) continues to hold majority of the population and will be reaching the p