The Downtown Denver Partnership has made a call for new innovative businesses to join the 16th Street Mall. The DDP and the Business Improvement District wants to add eight outdoor semi-permanent retail structures to the mall. The hope is that the new retailers will be an “eclectic mix of merchandise.” DDP spokes woman Sarah Newmann “We really want to enhance the quality and diversity (of the shopping experience)” by adding local artisans to the mall. There are currently 21 outdoor vendors but the mall is nowhere near capacity. The vendors and partnership agree that more retailers on the mall will help bring more customers and enhance the 16th Street Mall experience.
Colorado ranks seventh when it comes to the top states people are moving into. It’s a fact of life that people are always on the move. United Van Lines, the country’s largest household mover, tracks the annual moves within the continental US. Denver is a popular destination for new residents with all of the sporting venues within walking distance, great restaurants and theatre. The nation’s capital, Washington D.C., topped the list with an inbound move rate of 67.8%. Other states on the list include, Oregon, Arkansas, Nevada and Georgia.
In a recent article in the Denver Business Journal, Denver was ranked the 15th worst cities for traffic. This might not seem like good news but I disagree. Riverfront Park is centrally located in Downtown Denver and is across the street from the soon-to-be hub of transportation. Union Station over the next ten years will bring more public transportation into the city and make it possible for Denver residents to not have to own a car. For people that live in Chicago, New York or Boston living without a car is easy and soon Denver will be one of those cities. Even though Denver being ranked one of the worst cities for traffic isn’t the best, being able to live somewhere that you can walk or take public transportation everywhere is! What would you do with an extra hour a day if you didn’t have to commute and sit in traffic?
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On Monday the Denver City Council voted to back up the 300 million in federal loans for the redevelopment of Union Station 12-1. This vote means that general-fund dollars could be tapped if tax receipts fail to cover debt payment. According to Claude Pumilia, the city’s chief financial officer, “There is minimal risk and very extraordinary benefits for this project and that is why we’re supportive of it.” He said that the feasibility study was done and even if only 44% of the projected revenue materializes, the city’s general-fund would never get tapped. This is another great push forward for the start to this incredible redevelopment. To read the whole article, click here.
Forbes Magazine came up with the 10 best cities to buy real estate and Denver was #5. They looked at the “premium to buy” which is difference between what someone would spend on rent versus what they would spend on a mortgage. For these 10 cities the premium was much lower than the 15-year average. Forbes also identified where economists predict the largest increase in home prices over the next five years. Here are the cities: 1. Boston, 2. Charlotte, 3. Chicago, 4. Cincinnati, 5. DENVER, 6. Minneapolis, 7. Philadelphia, 8. Portland, 9. San Francisco, 10. Washington D.C.