sodd 2013-presentations-pdf

Tami Door

President and CEO, Downtown Denver Partnership

Elbra Wedgeworth

Chairwoman, Downtown Denver Partnership

Chief Government and Community Relations Officer, Denver Health

PRESENTING SPONSOR

PLATINUM SPONSOR

GOLD & SILVER SPONSORS

Brownstein Hyatt Farber Schreck The IMA Financial Group

Metropolitan State University of Denver Schomp Automotive Suncor Energy USA

ViaWest Wells Fargo

THANK YOU TO OUR HOST

Kevin McCabe

Executive Vice President, Regional Managing Director

Newmark Grubb Knight Frank

Paul Washington

Executive Director,

Denver Office of Economic Development

Walter Isenberg

President and

Chief Executive Officer,

Sage Hospitality

Hotel Room Inventory

• Current Downtown Core Hotel Room Inventory 7,944

• By 2014 Downtown Core Hotel Room Inventory 8,782

– Renaissance Hotel at Colorado National Bank 230 rooms

– Union Station Hotel 112 rooms

– Aloft Hotel 150 rooms

– Dual-branded Hyatt Place/Hyatt House 346 rooms

Downtown Denver

76.00%

77.00%

78.00%

79.00%

80.00%

81.00%

82.00%

83.00%

Occupancy

Source: Rocky Mountain Lodging Report 7/31/13

$116.00

$118.00

$120.00

$122.00

$124.00

$126.00

$128.00

Average Rate2012

2013

YTD

YTD

Denver City & County

2,850,000

2,900,000

2,950,000

3,000,000

3,050,000

3,100,000

Demand

2012

2013

Source: Smith Travel Report 7/31/13

YTD

YTD

+5.3%

Recent Hotel Expansion

Hotel Opening Date Rooms Jobs

Hyatt Hotel Conv. Ctr 2005 1100 750

Residence Inn 2006 229 110

Hilton Garden Inn 2008 221 100

Embassy Suites 2010 403 201

Four Seasons Hotel 2010 239 230

Springhill Suites 2012 150 72

Hampton Inn 2013 182 94

Homewood/Hampton 2013 120 59

Renaissance Hotel 2014 230 115

Union Station Hotel 2014 112 60

Total 2,986 1,791

Downtown Hotel Development Only

New Rooms!

Total Hotel Check-Out Tax 2000 to 2013

$44.6

$40.7

$37.7 $37.7 $38.7

$46.5

$59.8

$68.6

$74.3

$60.8

$67.9

$76.8

$79.5

$0.0

$20.0

$40.0

$60.0

$80.0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Mil

lio

ns

Hotel Tax Detail: 2000 to 2013

$32.3 $29.5

$27.3 $27.3 $28.0 $32.7

$43.3

$49.7 $53.8

$44.0 $49.1

$55.6 $58.0

$0.0

$20.0

$40.0

$60.0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Mil

lio

ns

Lodgers Tax

$12.3 $11.2 $10.4 $10.4 $10.6 $13.8

$16.5 $18.9 $20.5

$16.8 $18.7 $21.2 $21.6

$0.0

$20.0

$40.0

$60.0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Mil

lio

ns

Non-Lodgers Tax (SCFD, RTD, State Tax)

• SnowSports Industries America • Society for Mining, Metallurgy and Exploration • Colorado Crossroads Volleyball Tournament • American Organization of Nurse Executives • COLLABORATE • National Council of Teachers of Mathematics • DaVita • Heart Rhythm Society • American Society for Microbiology • American Society of Military Comptrollers • Massachusetts Mutual Financial Group • American Water Works Association • American Institute of Architects • Creative Memories • PennWell Corporation • Pampered Chef • National Cattlemen’s Beef Association • American Association of Petroleum Geologists • Harley-Davidson Motor Company • American Society of Microbiology

Strong 2013 Convention Calendar

Note: In the next 6 years: 30% of the business is Medical 20% Engineering/Science 15% Business/Trade 15% Corporate

•Custom Electronic Design Installation Association •Council of Supply Chain Management Professionals •Geological Society of America •Bank Administration Institute •American Physical Society •Association for Computing Machinery •National Science Teachers Association •International Robot Olympiad •Institute of Electrical and Electronics Engineers/EMC Society

2012

1 San Diego

2 Orlando

3 Chicago

4 Las Vegas

5 Boston

6 San Francisco

7 Atlanta

8 San Antonio

9 Dallas

10 Washington DC

Denver’s Competition – “best of the best”

Source: VISIT DENVER

Economics 101 – Supply & Demand

21

Buyers market for convention center business as a result of increased supply and flat demand “Gains made by new facilities came at the expense of existing facilities” Doug Ducate, CEIR

Infrastructure Supply Increases

22

Competition Status

Las Vegas Over supply of center and hotel availability

San Diego Center expansion approved and being sold

Austin 1100 room headquarter hotel under construction

New Orleans Availability after Katrina recovery - Aggressive

Philadelphia Expansion opened mid - 2010

Nashville Just opened center expansion 2013

Washington, DC 1500 room Marriott under construction

Dallas 1200 room Omni opened late 2011

Chicago $15 mil from State to buy down center rental

Los Angeles Recent LA Live package & $1 center rental

San Antonio Center expansion to open 2014

Phoenix Expansion completed late 2009

Indianapolis Expansion & 2300 new hotel rooms opened 2010

Orlando, Atlanta, Baltimore, Houston, San Fran, Boston are fierce competitors

Cities - Discount & Incentive Funds

23

BOSTON—Rivalry between cities isn't limited to sports teams. Across the country, cities are duking it out like never before over conventions, vying to host everyone from the Barbershop Harmony Society to the American Academy of Cosmetic Dentistry. City convention bureaus are undercutting each other with offers of freebies and incentives, such as free banners, breaks on rent and donations to a trade organization's charity. "It's been going on for years, but not at the magnitude that it is today," said Mr. Vaughan in Atlanta.

Dominick Reuter for The Wall Street Journal The AABB, a medical-industry association focused on blood transfusion and cell therapy, holds an expo in Boston earlier this month.

U.S. NEWS October 12, 2012, 6:01 p.m. ET By JENNIFER LEVITZ and CAMERON MCWHIRTER

Cities Clash in Battle to Land Conventions

http://online.wsj.com/search/term.html?KEYWORDS=JENNIFER+LEVITZ&bylinesearch=true

http://online.wsj.com/search/term.html?KEYWORDS=CAMERON+MCWHIRTER+&bylinesearch=true

William E. Mosher

Senior Managing Director,

Trammell Crow Company

State of Downtown Denver Presentation

September 11, 2013

Denver Union Station A 25 Year Story....and Counting

• Civic and Political Will

• Big Vision with Persistence

• Public Investment As A Catalyst For Private Investment

• Place Making Is Important; Design Is Important

• Transparent, Accountable, & Inclusive

Denver’s Central Platte Valley Rail Yards

Denver’s Central Platte Valley Rail Yards

DUS

Denver’s Central Platte Valley: Late 1980s

LODO

Historic

District

LODO

Historic

District

Denver’s Central Platte Valley: 1990s

Coors Field

Commons Park

NEW 15TH STREET AND UNDERPASS

DUS

NEW PARK AVENUE OVERPASS

Prospect Housing Cuernavaca

Park

REMOVAL OF 16TH STREET VIADUCT

LODO

Historic

District

Denver’s Central Platte Valley: 2000s

Coors Field

Commons Park

NEW 15TH STREET AND UNDERPASS

NEW PARK AVENUE OVERPASS

Prospect Housing Cuernavaca

Park

DUS DUS Transit Center

Kennedy/TCC

EPA/Hines

Riverfront Housing By East West

Partners

REMOVAL OF 16TH STREET VIADUCT

• Voter approved November 2004

• 119 miles of Rail Rapid Transit

(LRT/CRT)

• 18 miles of Bus Rapid Transit (BRT)

• 31 new park-n-Rides with over 21,000 new spaces

• Enhanced Bus Network & Transit Hubs (FastConnects)

FasTracks Program Multi-Modal Vision for the Metropolitan Area

Major Transit Elements Transit Framework

• 8 track CRT (plus expansion)

– East (DIA) - 2016

– North Metro (I-25 North)

– Northwest (Boulder)

– Gold (Arvada/Golden) - 2016

– Amtrak - 2014

• 3 track LRT

– Existing Southwest & Southeast - 2011

– West (Lakewood/Golden) - 2013

• 22 bay regional bus facility - 2014

– 16 regional

– 4 Downtown Circulator

– 2 commercial bus

• 16th Street Mall Extension - 2011

• Downtown Circulator

Wewatta Plaza

DUS - Transit Infrastructure

DUS HISTORIC BUILDING

LIGHT RAIL + MALL SHUTTLE STATIONS

REGIONAL BUS TERMINAL

COMMUTER RAIL TERMINAL

DUS Project Cost Summary

Light Rail $ 69.6 M

Passenger Rail $153.7 M

Regional Bus $191.2 M

Streets & Public Spaces $ 65.3 M

DUS Renovation $ 0 M

$479.8 M

Public Finance Summary Cash Sources

Cash Sources Description Amount FHWA PNRS $ 45.3 M FTA 5309 $ 9.5 M CDOT SB-1 $ 17.4 M DRCOG TIP Funds $ 2.5 M RTD ARRA (stimulus) Grant $ 18.6 M ARRA (stimulus) Grant $ 9.8 M RTD FasTracks Contribution $ 40.8 M CPV District Bond Funds $ 1.1 M Total Grants $145.0 M

Other Sources Proceeds from Sale of RTD Sites $ 26.3 M New Contributions from RTD $ 5.1 M Contributions from Amtrak $ .3 M Miscellaneous Reimbursements $ 2.5 M Total Other Sources $ 34.2 M

TOTAL CASH SOURCES $ 179.2 M

Required Financing $300.6 M

Public Finance Summary USDOT Loan Structure

Loan Sources Amount TIFIA Loan Proceeds $145.6 M RRIF Loan Proceeds $155.0 M Total $300.6 M

Repayment Sources Description RTD Bond Voter Authorized Sales Tax Proceeds City Tax Increment Proceeds Property, lodger’s & sales tax increment from properties in DDA Metro District Mil Levy Additional property mil levy captured as increment from DUS property (capital and maintenance)

Spent $427M / 89%

% Complete By Mode LRT - 99.5% CRT - 78% Bus - 94% Streets & Plazas - 90%

Construction Progress as of July 31, 2013

Light Rail

• LRT Final Acceptance Obtained December 22, 2011 • LRT Plaza Opened on May 18, 2012

Regional Bus Facility as of July 31, 2013

• Phases I & II – West of Wewatta o Millwork & Casework Installation Complete o Glass Tile Installation Nearing Completion o Terrazzo Installation Nearing Completion o Restroom Fixture Installation Underway o Stair Rail Installation Underway

• Phase III – East of Wewatta (behind DUS) o Wewatta Pavilion Elevator & Escalator Installation Nearing Completion o DUS Pavilion Elevator & Escalator Installation Underway o CRT Pavilions Aluminum Storefront Framing & Glazing Underway o East Starter Booth Steel Columns & Beams Installation Underway o Glass Tile Installation Nearing Completion o Terrazzo Installation Nearing Completion

Hand Rail On Stair No. 12 (Chestnut Pavilion) is Progressing

Commuter Rail as of August, 2013

• Pedestrian Bridge Structural Steel Erection Complete • Precast Platform Walls Installation Complete

• CRT Train Hall PTFE Installation Complete • Amtrak Canopy ETFE Installation Nearing Completion

•CRT Platforms Nearing 75% Complete

•Final Track Work Into Station Underway

View Of Train Hall Canopy From Pedestrian Bridge Near North Wing Building Stairs & Elevator

Formwork Progressing For Stairs No. 3 & 4 From Pedestrian Bridge To Platforms No. 2 & 4

Work Continues in the EVA Lane Including Trench Drains and Structural Tree Trenches

DDA Development by Land Use As of August, 2013

Uses Feasibility Study

Absorption Range (Lo/Hi) 2009 - 2019

As of August, 2013

Built or Under Construction/ Plus Under Design

Office 418,000 – 628,000 SF 1,117,500 – 1,830,500 SF

Retail 193,000 – 245,000 SF 163,500 – 266,500 SF

Commercial 611,000 – 873,000 SF 1,281,000 – 2,097,000 SF

Hotel (2019 – 2024 Time Frame) 112 – 288 Rooms

Residential 1,520 – 1,930 Units 1098 – 1,348 Units

*Taxes Received To Date are 80% Above Forecast *Estimated Market Value of Projects Built or Under Construction - $734 Million *Parking Spaces in Projects Built or Under Construction – 3,270 Spaces

Completed

1900 16th Street 385,000 SF Office 24,000 SF Retail Completed: Sept. 2009

DaVita

260,000 SF Office

Completed: Aug. 2012

- IMA Financial Plaza

112,000 SF Office with Retail

Scheduled Completion: Nov. 2013

One Union Station

110,000 SF Office with Retail

Scheduled Completion: Dec. 2013

Cadence Apartments

219 Unit Apartment

Scheduled Completion: Nov. 2013

- Historic Denver Union Station

Boutique Hotel and Retail

Scheduled Completion: Summer 2014

- Alta City House

281 Unit Apartment

Scheduled Completion: Spring 2014

- 1650 Wewatta

290 Unit Apartment

Scheduled Completion: Dec. 2014

- 20th & Chestnut

55,000 SF Retail

312 Unit Apartment

Projected Completion: April, 2015

- 1601 Wewatta

301,500 SF Office

Projected Completion: Q1, 2015

- 16 Wewatta & The Bike Hub

200,000 SF Office

The Bike Hub

Projected Completion: Spring 2015

- 16th & Wewatta

51,000 SF Office and Retail

176 Room Hotel


- 17 Wewatta

105,000 SF Office and Retail

250 Unit Apartment

Projected Completion: TBD

- 16 Chestnut

440,000 SF Office


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14 Currently Under Construction Under Design

1900 16th Street

Developer: Trammell Crow Company

Contractor: Saunders

Architect: Tryba Architects

Date Began: October 2007

Date Completed: September 2009

Square Footage: 400,000

Notes:

Seventeen story building developed in 3 phases includes: Approximately 600,000 SF of Class A office and supporting retail space, 100-150 residential units and 1,400 parking spaces when completed

The first phase multi-tenant office building consisted of 385,000 SF office Space, 24,000 SF of retail and 1,086 parking stalls

Achieved LEED - Gold Certification

1

DaVita World Headquarters

Developer: Trammell Crow Company

Contractor: Saunders

Architect: MOA

Date Began: December 2010

Date Completed: August 2012


Notes:

The 2nd phase of the 1900 16th Street project serves as DaVita’s world headquarters and features a DaVita information center on the first floor along with training rooms and a kidney dialysis training facility. DaVita University, 265 parking space, a top floor open air terrace, and teammate cafeteria also included.

Accommodates approximately 950 DaVita teammates

Achieved LEED - Gold Certification

2

North Wing Building: IMA Financial Plaza

Developer: First Century Development

Contractor: Haselden Construction

Architect: Anderson Mason Dale Architects

Date Began: April 2012

Scheduled Completion: November 2013


Notes:

Five story office building with two parking levels below ground

Retail and restaurants operating on the ground floor

IMA Financial Group Inc. corporate office space will be on the upper four levels

Pursuing LEED - Gold Certification

Construction photos are on the next page

3

Front View Upper Side View

3 North Wing Building: IMA Financial Plaza Construction Photos

South Wing Building: One Union Station

Developer: East West Partners/Starwood Capitol Group

Contractor: Kiewit Building Group

Architect: Anderson Mason Dale Architects

Date Began: August 2012

Scheduled Completion: December 2013


Notes:

Five story office building

Antero Resources, the lead tenant, will reside in the 2nd, 3rd, 4th, and 5th floors; 1st Floor Retail

Pursuing LEED - Gold Certification


4

4 South Wing Building: One Union Station

Construction Photos

Lower Side View Upper Side View

Cadence Apartments

Developer: Zocalo

Contractor: GE Johnson

Architect: JG Architects

Date Began: May 2012

Scheduled Completion: November 2013

Square Footage: 8,000 SF Retail

219 Unit Apartment

Notes:

Thirteen story apartment building containing 219 apartments

Includes a parking garage and 8,000 SF of retail on the ground level

Pursuing LEED Gold Certification


5

http://www.zocalodevelopment.com/1

5 Cadence Apartments -Construction Photos

Below View Front Side View

Side View Back Side View

Historic Denver Union Station

Developer: Union Station Alliance

Contractor: Milender White Construction

Architect: Tryba Architects & JG Johnson Architects

Date Began: December 2012

Scheduled Completion: Summer 2014

Square Footage: 112 Room Hotel

21,000 SF Retail

6,500 SF AMTRAK/Transit

Main Floor Train Hall Remains Public Space

Notes:

Remodeled into a 112 room boutique hotel residing in the 2nd and 3rd floors with retail and restaurants on the ground floor

Amtrak will operate out of the ground floor

Historic Central Train Hall remains an open public space


6

http://assets.bizjournals.com/denver/news/UnionStationAllianceWeb1.jpg?v=1

6 Historic Denver Union Station – Construction Photos

Upper Front View Upper Side View

Lower Back View Upper Back View

Alta City House

Developer: East West Partners/Wood Partners

Contractor: Wood Partners

Architect: Paul T. Bergner Associates

Date Began: November 2012

Scheduled Completion: Spring 2014

Square Footage: 280 Unit Apartment

Notes:

Five story apartment building containing 280 units


7

7 Alta City House – Construction Photos

Upper Back View Lower Front View

Block A: 1650 Wewatta

Developer: Holland Partners

Contractor: Holland Partners

Architect: Shears Adkins Rockmore

Date Began: January 2013

Scheduled Completion: December 2014


287 Unit Apartment

Notes:

Twenty-one story apartment building with 287 apartments

287 total parking spaces will be provided on 2 underground levels as well as levels 2-4, while ground floor will include 6,000 SF of retail. Apartments will be on levels 5 through 21

Pursuing LEED – Gold Certification


8

8 Block A: 1650 Wewatta – Construction Photos

20th & Chestnut

Developer: Greystar

Contractor: Martines Palmeiro Construction

Architect: The Molhern Group

Date Began: April, 2013

Scheduled Completion: April, 2015


312 Unit Apartment

Notes:

Five story multi-use building

Includes 42,000 SF King Soopers grocery and 13,000 SF of additional ground floor retail

The four top floors will contain 312 apartments


9

9 20th & Chestnut – Construction Photos

1601 Wewatta

Developer: Hines/Perlmutter

Contractor: Whitting - Turner

Architect: HOK

Scheduled Start: August, 2013

Scheduled Completion: Q2, 2015


Notes:

Ten story multi-tenant office building

Four levels of underground parking with 400 parking spaces

17,500 SF of retail on the ground level

Pursuing LEED - Platinum Certification


10

10 1601 Wewatta – Construction Photos

Triangle Parcel: 16 Wewatta & The Bike Hub

Developer: East West Partners/

Starwood Capital Group

Contractor: TBD

Architect: TBD

Scheduled Start: October, 2013

Projected Completion: Spring, 2015

Square Footage: 220,000 SF Office

Notes:

Ten story office building

Two underground parking levels, ground level containing retail, and nine floors of office space

The Bike Hub offers bike racks, heated locker

rooms with toilets and showers, and bike maintenance

Pursuing LEED –Gold Certification

11

16 Wewatta

The Bike Hub

16th & Wewatta: Office Building and Hotel

Developer: Continuum Partners

Contractor: TBD

Architect: TBD

Scheduled Start: Q1, 2014


Square Footage: 200,000 SF

176 Room Hotel

Notes:

Five story office building

Office building includes 35,000 SF of office space and 16,000 SF of retail

Nine story hotel with 176 rooms

12

17 Wewatta

Developer: Holland Partners

Contractor: Holland Partners

Architect: TBD

Scheduled Start: TBD


Square Footage: 105,000 SF, including 45,000 SF Retail and 60,000 SF Office

250 Unit Apartment

Notes:

Property contains three buildings including 60,000 SF of office and, 45,000 SF of retail with grocery space

60,000 SF of office space will be located above grocery

13

16 Chestnut

Developer: East West Partners/Starwood Capital Group

Contractor: TBD

Architect: Gensler

Scheduled Start: March, 2014


Square Footage: 440,000 SF Office

Notes:

Nineteen story office space

Underground and above ground parking as well as ground floor retail

Possible pedestrian bridge to connect Millennium Bridge with Mezzanine level of lobby.

14

Barbara Weiske

Executive Vice President for Administration/ Agency CEO, Auraria Higher Education Center

Annual Report

2012 - 2013

The Auraria Campus Denver’s Urban Academic Community

MSU Denver Student Success Building $62 million

Photo courtesy of Frank Ooms

CCD Confluence Building $50 million

Marriott SpringHill Suites & MSU Denver Hospitality Learning Center $45 million

CU Denver Academic Building $60 million

MSU Denver Athletic Sports Field Complex $17 million

79

5th Street Parking Structure with Retail Component $20 million

Library Renovation $32 million

The 5th Street Hub $1.5 million

Campus Infrastructure Development $3 million

•MSU Denver – Aerospace Engineering Technologies Building •Projected: $40 – 50 million

•CU Denver - Instructional Lab Wing, Science Building

•Projected: $19 million

•CCD - Boulder Creek Building Expansion/ Renovation •Projected: pending

•Arts Building Renovation

•Projected: $20 million

Performing Arts Center Expansion & Renovation Tivoli Conference Center Concept

Tivoli Park & Events Center Renovation

Other Initiatives

Connecting Auraria (and Higher Education) with Denver…

…through Presence…

…through Investment & Development…

Mine Pavilion by Pezo von Ellrichshausen

…through Concept…

…through Streetscape…

The “Connect Auraria Coalition”

…through Partnerships…

…through Transit & Access….

…through the Education of

the Future Workforce & Leaders of Downtown Denver…

Questions and Answers