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Denver Economic Development Update – 2014

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denver-golden-skyline

I attended Mayor Michael Hancock’s 2014 Denver Economic Development Update, with speakers Paul Washington, the Director of Denver’s Office of Economic Development and Kelly Leid, the project manager of the North Denver Cornerstone Collaborative, so that you don’t have to!  2014 is looking pretty strong, but let’s review what Denver has already accomplished…

-Unemployment is down in to pre-recession levels

-We have experienced record-breaking home prices

-Forbes listed Denver as a Top City for Economic Momentum and a Top City for Job Seekers!

-Nonstop international flights to Denver have been increased to increase our competitiveness as an international economic contender

-We have gained 80,000 new residents since 2001

-New construction has hit the highest levels in over a decade

-Denver Public School attendance is up from 72,000 to 90,000 students

-Denver has added 15,000 jobs over the last two years

Not too shabby!  So, what are we looking forward to in 2014?

Mayor Hancock is focusing strongly on building up North Denver, including the improving the RiNo district, redevelopment of Brighton Boulevard, increasing access, transit, and services to the long neglected Globeville and Elyria-Swansea neighborhoods.  (To learn about Globeville and Elyria Swansea initiative, click here.)  Interstate 70 is also looking to receive improvements to move the highway underground and place a park above ground, similar to the Klyde Warren Park of Dallas, which has been described as “a green space arising out of thin air.”

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Efforts are also being made to redevelop the National Western Stock Complex and Denver Coliseum, to turn them into a year-round destination for out-of-towners.  The Welton Corridor in Five Points is also receiving grant money for mixed-use improvements.  The Mayor is also focused on adding affordable housing, as well as mixed-income developments in lower income neighborhoods.

One of my personal favorites as an real estate agent who advocates for community building and eco-concerns is that the Mayor has recognized that many of Denver’s new residents are aged 18-34.  He acknowledged that these folks wants to live, work, and play in the same area, often eschewing vehicles for public transit.  To accommodate this, our transit system is being expanded and strengthened.

All in all, the future looks bright!

Are Denver’s Globeville and Elyria-Swansea Neighborhoods Headed for Change?

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I-70 East Environmental Impact Statement (EIS) Project - Visual Simulation of the Partial Covered Lowered Alternative

I-70 East Environmental Impact Statement (EIS) Project – Visual Simulation of the Partial Covered Lowered Alternative

Many people living in Denver have never heard of the Globeville and Elyria-Swansea neighborhoods, although these neighborhoods are almost as close to downtown as the Highlands.  These neighborhoods are north of downtown Denver and are dissected by the junction of I-70 and I-25.  Globeville and Elyria-Swansea consists mostly of smaller Victorian homes built in the late 1800’s which housed the workers of the Globe Smelting and Refining Company which processed raw minerals brought from the Colorado Rocky Mountains.

The Globeville and Elyria-Swansea neighborhoods have faced many problems in the past, due to a lack of urban planning in the neighborhood as well as environmental issues caused by the nearby industries of what is now Denver’s River North or RiNo area.  However, Denver Mayor Michael Hancock and Denver City Councilwoman Judy Montero seek to transform the area into a “Corridor of Opportunity.”  “This part of the city has been long avoided by planners, mostly because there were easier projects to tackle,” states Kelly Leid, project manager.

This project, the “North Denver Cornerstone Collaborative,” seeks to provide sidewalks, new drainage, new roads, and new infrastructure including vertical buildings to bring jobs and investment to the area.  A total of four new light-rail stations will be constructed in the neighborhood and the East Commuter Rail Line will cut through on its way to Denver International Airport.  Another project could remove the aging interstate viaduct over the neighborhood, burying it underground and replacing it with a sprawling park, which is a $1.8 billion dollar proposal.

Even if the projects come to fruition in their current form, it will take at least a decade before they’re all fully realized.  In that time, multiple administrations could come and go.  Major improvements have been announced for these areas in the past and then simply did not happen.  In addition to lack of follow-through on past promises, KUNC, a community radio station for Northern Colorado, interviewed several residents in the area and found that area residents are concerned about the gentrification of the Globeville and Elyria-Swansea neighborhoods which occurred in the Denver Highlands neighborhoods. 

Mayor Hancock is pushing for change – to turn what has been called the back door of Denver into the new front door.