Posts
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Colorado economic indicators a mixed bag in the second quarter, new report finds
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Colorado’s key economic indicators were mixed for the second quarter, according to a report released Monday by the University of Colorado Boulder and the Colorado Secretary of State. Job growth is up, but so is unemployment. Inflation is cooling, yet prices remain high. The number of new businesses registering with the state dropped, though the…
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Elway’s Cherry Creek to close due to proposed new development
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The original location of Elway’s steakhouse in Cherry Creek is closing at the end of this month, the restaurant announced on Thursday. Open for 20 years, Elway’s is closing because of the proposed Cherry Creek West project, according to a message the restaurant posted on its website. Its last day will be Aug. 31. (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:11095963150525286,size:[0,…
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Is metro Denver real estate in a ‘buyer’s market’?
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The summer residential real estate slowdown is here. It’s expected every year within home sales markets across the metro Denver area — but this year has been fairly unpredictable, according to the Denver Metro Association of Realtors most recent Market Trends report covering July sales. Most homes sold for $600,000 or above in July, the association’s…
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TIAA will close downtown Denver office 3 years before lease ends
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Financial services firm TIAA will close its downtown Denver office in 2026 and relocate 1,000 positions to Texas, the company confirmed Tuesday. The closure will happen three years before TIAA’s lease expires in 2029. The move will “provide substantial savings in rent and operational costs – savings which TIAA can then invest in business needs…
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Metro Denver’s apartment construction boom is peaking
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Over the last year, the metro Denver area saw a historic number of new apartments coming onto the market. The region had nearly 7,400 new units delivered within the second quarter of 2024 and 19,000 over 12 months, according to the Apartment Association of Metro Denver’s second quarter report released Thursday. It’s about the size…
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Colorado judge temporarily blocks Kroger, Albertsons merger
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A Colorado judge issued an order temporarily blocking the proposed $25 billion merger between Kroger and Albertsons, which has been challenged by the state attorney general, according to court documents. Kroger is the parent company of King Soopers in Colorado and Albertsons runs the Safeway chain in the state. At a hearing in Denver on…
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Johnston gives another State of The City address for Denver business leaders
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At the Colorado Convention Center in the newly-built Bluebird Ballroom, hundreds of regional business leaders met together Tuesday to hear from Denver’s mayor on his yearlong progress. The event, hosted by the Denver Metro Chamber of Commerce, was a day after Mayor Mike Johnston’s State of the City address touting his accomplishments at the Paramount…
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Denver urges DOJ to reclassify cannabis, calling it ‘essential’ for local industry
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As the Biden administration looks to reclassify marijuana to a lower-tier drug, the city of Denver put in its two cents as the first major U.S. city to allow legal recreational use in support of the federal process. On Wednesday, city officials sent a public comment to the Department of Justice urging officials to change…
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Denver saw another record year of tourists, new report shows
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Tourists keep coming to Denver in record numbers. The city saw more than 37 million visitors in 2023, which is up 3% from the last record set in 2022, according to a new report from marketing and tourism agency Visit Denver released Monday. It also means the city is generating more money from tourists. (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:11095963150525286,size:[0,…
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More companies leased Denver offices than vacated for first time in 2 years
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The metro Denver region saw office vacancies hit nearly 24% in the second quarter, according to a report from commercial real estate firm CBRE released Tuesday. It’s up from 23.5% in the first quarter of 2024. Despite the rising number of empty offices in the region since the pandemic hit, Denver’s commercial real estate market…