August 17-September 6, 2016 —
COLORADO REAL ESTATE JOURNAL
— Page 41
Economic Development News
At its 61st annual meeting, the
Downtown Denver Partnership
recognized the success of its
place-based economic develop-
ment strategy.
The annual meeting, present-
ed by Grant Thornton, allows
the partnership to showcase
activities that align with the
high-impact strategies outlined
in the 2007 Downtown Area
Plan and report on progress
toward building a healthy and
vital downtown Denver. More
than 900 civic and business
leaders were in attendance.
“The Downtown Denver
Partnership leads the private
sector to build downtown Den-
ver as the premier economic
hub of the region,” said Tami
Door, president and CEO of the
Downtown Denver Partner-
ship.
The partnership reported on
accomplishments over the past
year, which are detailed in the
organization’s 2015-16 Annual
Report, and announced sever-
al priorities for the upcoming
year, including:
• Launching an interactive
Arapahoe Square Property
Owner Map to allow develop-
ers, investors and city agencies
to see parcel-specific informa-
tion regarding ownership,
improvements and zoning.
• Advocating for affordable
housing options while bal-
ancing business and property
owner interests, including eval-
uating funding sources, uses
and governance for the city’s
proposed dedicated revenue
fund for affordable housing.
• Defining a clear vision for
the future of the 16th Street
Mall, in collaboration with
the city and county of Denver
and the Regional Transporta-
tion District, through The Mall
Experience study.
The partnership also recog-
nized the leadership of out-
going chairman Joe Vostrejs,
partner of City Street Investors.
Walter Isenberg, president and
CEO of Sage Hospitality, was
elected as chairman of the part-
nership for 2016-2017. In addi-
tion, Rob Cohen, CEO of The
IMA Financial Group Inc., was
elected for a second term as
chairman of Downtown Denver
Inc.; Trinidad Rodriguez, senior
vice president and managing
director, public finance of D.A.
Davidson, was elected chair-
man of Denver Civic Ventures;
and Bill Mosher, senior manag-
ing director of Trammell Crow
Co., was elected chairman-elect
of the partnership.
Several members also were
recognized for their significant
contributions to the partner-
ship’s efforts in the urban core:
Cole Finegan, regional man-
aging partner, Hogan Lovells
US LLP, was presented the Hon-
orary Partner Award, which is
presented to a member who
exhibits strong leadership and
engagement in the partnership
for a period of at least 10 years.
Brandy Bertram, director of
development, Colorado Open
Lands, received the Peter Bowes
Award, which is presented to a
member who exemplifies the
legacy of Bowes, past chairman
of the DDP.
Tom Carroll, associate, Fae-
gre Baker Daniels LLP; Kevin
Kelley, office managing partner,
Husch Blackwell; and Wendy
Williams, director of property
management, Vector Property
Services LLC, received Volun-
teer of the Year awards, present-
ed to members who have made
significant contributions to the
partnership’s programs and ini-
tiatives over the last year.
s
Denver Mayor Michael B. Han-
cock and other officials celebrated
the groundbreaking of The Mead-
ows at Montbello, a new afford-
able senior housing development
under construction at 4325 Carson
St. in northeast Denver. Developed
by the Volunteers of America, the
development will offer 85 income-
restricted apartments for low- and
moderate-income seniors 62 and
older.
The $18.8 million development
is located adjacent to the VOA’s
Montbello Manor, a 79-unit senior
apartment property that opened
in 2004. Public finance partners for
TheMeadowsatMontbelloinclude
the Denver Office of Economic
Development, Colorado Housing
andFinanceAuthorityand theCol-
oradoDivision of Housing.
“Having an affordable home is
important for every Denver resi-
dent, especially our seniors, who
deserve the right to remain in the
place where they have built their
lives,” said Hancock. “Volunteers
ofAmerica has done a tremendous
job at supporting our vulnerable
populations, and we’re proud to
again work together at keeping
Denver affordable for our senior
residents.”
The 4-story building will include
one- and two-bedroom units for
households earning up to 60 per-
cent of the area median income,
up to $33,660 for a single-person
household. Amenities include sup-
port services for senior tenants, as
well as an outdoor community
garden.
Pilatus Business Aircraft is
expanding its operations in unin-
corporated Jefferson County.
The company plans to build a
118,000-square-foot facility at the
Rocky Mountain Metropolitan
Airport.
The $22 million facility will
replace and expand its current
operations at RMMA and pro-
vide aircraft completion support
for the Pilatus PC-12 and PC-24
aircraft. The project will nearly
double employment, bringing an
estimated 57 jobs and more than
$3 million in capital investment to
Jefferson County.
Jefferson County Economic
Development, in partnershipwith
Jefferson County, has been assist-
ing the company with the expan-
sion project.
Zimmer Biomet Spine Inc. is
relocating and expanding its oper-
ations in the city of Westminster.
It will occupy 104,000 sf at West-
moor Technology Park.
The project will bring 207 jobs
with an average salary of $79,000
and $6.3 million in capital invest-
ment to the county.
Jeffco EDC has been assisting
the company with a personal
property tax rebate, which the
board of county commissioners
approved. This is a performance-
based incentive and only applies
to new capital investment.
Updates…
n
Jeffco EDC recently released
its second-quarter economic sum-
mary for Jefferson County.
The report contains informa-
tion on economic headlines, real
Avista Pharma recently
announced plans to expand its
Longmont footprint.
The firm will invest $1.79 mil-
lion in building improvements
and $1 million in equipment.
The expansion also will include
the addition of 83 new jobs over
the next eight years.
The Longmont Economic
Development Partnership assist-
ed Avista in obtaining both local
and state incentives for the proj-
ect.
Updates…
n
The Longmont Economic
Development
Partnership
recently released its second-
quarter economic update.
The update included a look at
the activities of the partnership,
including launching the Com-
mercial Brokers of Longmont in
an effort to better support the
local brokerage community in
meeting the real estate needs of
prospects, and hosting the Inno-
vation Tour to promote the city’s
innovation and entrepreneurial
ecosystem.
The report noted that 21,091
square feet of space was
absorbed in the quarter; a poten-
tial 1,241 new jobs could be cre-
ated based on active prospects;
$124,835 in small-business loans
were awarded to four local busi-
nesses representing 16 jobs; and
the city had a 3.3 percent unem-
ployment rate.
s
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