New data reveals the state of downtown Denver 5 years post-pandemic
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.
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