By: Skylar Colclazier
Denver climbs to the top of another ranking ladder. Auction.com released a report that reveals Denver as the best housing market for 2015. Why? Unemployment is at record lows and population growth is soaring. World Property Journal states, “Housing demand is expected to continue to drive up even further over the coming year.”
Residential growth contributes to business growth. The Metro Denver Monthly Economic Indicator Report tells good news for business in Denver. Retail sales increased 7.2 percent over-the-year. Additionally, the Commercial Real Estate market showed declining office, industrial and retail space vacancy rates. Businesses are moving to Denver and filling space quickly.
Why Denver? Why now?
Denver has been positioned for long-term success. CNBC ranked Colorado as the 8th Top State for Business in 2015. State infrastructure contributes to the ranking.
Colorado continues modifying its infrastructure to meet growing mobility needs. To have a thriving center of commerce there must be a stable infrastructure to support it. As such, Denver has created a 2040 Transit Plan that includes modifications to compensate for population growth and a problem-solving approach to maximize available resources.
Alongside the 2040 Transit Plan, Denver initiated its RTD FasTracks program that includes 122 miles of new light and commuter rail, 18 miles of Bus Rapid Transit, 57 new transit stations and more. According to the Denver Business Journal, RTD power tested its East Rail Line Friday, April 17th. The first power testing is milestone for the RTD FasTracks program. The East Rail Line connects Denver International Airport (DIA) to Denver’s Union Station.
Denver continues to broaden its skyline for potential.