Tami Door. President and CEO, Downtown Denver Partnership

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2 Tami Door President and CEO, Downtown Denver Partnership

3 Elbra Wedgeworth Chairwoman, Downtown Denver Partnership Chief Government and Community Relations Officer, Denver Health

4 PRESENTING SPONSOR

5 PLATINUM SPONSOR

6 GOLD & SILVER SPONSORS Brownstein Hyatt Farber Schreck The IMA Financial Group Metropolitan State University of Denver Schomp Automotive Suncor Energy USA ViaWest Wells Fargo

7 THANK YOU TO OUR HOST

8 Kevin McCabe Executive Vice President, Regional Managing Director Newmark Grubb Knight Frank

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10 Paul Washington Executive Director, Denver Office of Economic Development

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12 Walter Isenberg President and Chief Executive Officer, Sage Hospitality

13 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

14 Downtown Denver 83.00% 82.00% 81.00% 80.00% 79.00% 78.00% 77.00% 76.00% Occupancy $ $ $ $ $ $ $ Average Rate YTD YTD Source: Rocky Mountain Lodging Report 7/31/13

15 Denver City & County 3,100,000 3,050, % 3,000,000 2,950,000 2,900, YTD YTD 2,850,000 Demand Source: Smith Travel Report 7/31/13

16 Recent Hotel Expansion Downtown Hotel Development Only Hotel Opening Date Rooms Jobs Hyatt Hotel Conv. Ctr Residence Inn Hilton Garden Inn Embassy Suites Four Seasons Hotel Springhill Suites Hampton Inn Homewood/Hampton Renaissance Hotel Union Station Hotel Total 2,986 1,791 New Rooms!

17 Millions Total Hotel Check-Out Tax 2000 to 2013 $80.0 $74.3 $76.8 $79.5 $68.6 $67.9 $60.0 $59.8 $60.8 $44.6 $46.5 $40.0 $40.7 $37.7 $37.7 $38.7 $20.0 $

18 Millions Millions Hotel Tax Detail: 2000 to 2013 $60.0 $40.0 Lodgers Tax $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 $20.0 $ $60.0 Non-Lodgers Tax (SCFD, RTD, State Tax) $40.0 $20.0 $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 $

19 Strong 2013 Convention Calendar 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 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 Note: In the next 6 years: 30% of the business is Medical 20% Engineering/Science 15% Business/Trade 15% Corporate

20 Denver s Competition best of the best San Diego 2 Orlando 3 Chicago 4 Las Vegas 5 Boston 6 San Francisco 7 Atlanta 8 San Antonio 9 Dallas 10 Washington DC Source: VISIT DENVER

21 Economics 101 Supply & Demand 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 21

22 Infrastructure Supply Increases 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 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 22

23 Cities - Discount & Incentive Funds Cities Clash in Battle to Land Conventions U.S. NEWS October 12, 2012, 6:01 p.m. ET By JENNIFER LEVITZ and CAMERON MCWHIRTER 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. 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. 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. 23

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25 William E. Mosher Senior Managing Director, Trammell Crow Company

26 State of Downtown Denver Presentation September 11, 2013

27 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

28 Denver s Central Platte Valley Rail Yards

29 Denver s Central Platte Valley: Late 1980s Denver s Central Platte Valley Rail Yards DUS LODO Historic District

30 Denver s Central Platte Valley: 1990s Cuernavaca Park Prospect Housing NEW PARK AVENUE OVERPASS Coors Field LODO Historic District Commons Park DUS REMOVAL OF 16 TH STREET VIADUCT NEW 15 TH STREET AND UNDERPASS

31 Denver s Central Platte Valley: 2000s Cuernavaca Park Prospect Housing NEW PARK AVENUE OVERPASS Coors Field Riverfront Housing By East West Partners LODO Historic District Commons Park DUS Transit Center DUS REMOVAL OF 16 TH STREET VIADUCT EPA/Hines Kennedy/TCC NEW 15 TH STREET AND UNDERPASS

32 FasTracks Program Multi-Modal Vision for the Metropolitan Area Voter approved November 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)

33 Major Transit Elements Transit Framework 8 track CRT (plus expansion) East (DIA) North Metro (I-25 North) Northwest (Boulder) Gold (Arvada/Golden) Amtrak track LRT Existing Southwest & Southeast West (Lakewood/Golden) bay regional bus facility regional 4 Downtown Circulator 2 commercial bus 16 th Street Mall Extension Downtown Circulator

34 DUS - Transit Infrastructure LIGHT RAIL + MALL SHUTTLE STATIONS REGIONAL BUS TERMINAL Wewatta Plaza COMMUTER RAIL TERMINAL DUS HISTORIC BUILDING

35 DUS Project Cost Summary Light Rail Passenger Rail Regional Bus Streets & Public Spaces $ 69.6 M $153.7 M $191.2 M $ 65.3 M DUS Renovation $ 0 M $479.8 M

36 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 Required Financing $ M $300.6 M

37 Public Finance Summary USDOT Loan Structure Loan Sources TIFIA Loan Proceeds RRIF Loan Proceeds Total Amount $145.6 M $155.0 M $300.6 M Repayment Sources RTD Bond City Tax Increment Proceeds Metro District Mil Levy Description Voter Authorized Sales Tax Proceeds Property, lodger s & sales tax increment from properties in DDA Additional property mil levy captured as increment from DUS property (capital and maintenance)

38 Construction Progress as of July 31, 2013 Spent $427M / 89% % Complete By Mode LRT % CRT - 78% Bus - 94% Streets & Plazas - 90%

39 Light Rail LRT Final Acceptance Obtained December 22, 2011 LRT Plaza Opened on May 18, 2012

40 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

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

42 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

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

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

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

46 DDA Development by Land Use As of August, 2013 Uses Feasibility Study Absorption Range (Lo/Hi) As of August, 2013 Built or Under Construction/ Plus Under Design Office 418, ,000 SF 1,117,500 1,830,500 SF Retail 193, ,000 SF 163, ,500 SF Commercial 611, ,000 SF 1,281,000 2,097,000 SF Hotel ( Time Frame) Rooms Residential 1,520 1,930 Units ,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

47 18 TH STREET 16 TH STREET 17 TH STREET 18 TH STREET 19 TH STREET 20 TH STREET 14 2 CHESTNUT ST Completed WEWATTA ST WYNKOOP ST. Currently Under Construction 7 Under Design th Street 385,000 SF Office 24,000 SF Retail Completed: Sept DaVita 260,000 SF Office Completed: Aug IMA Financial Plaza 112,000 SF Office with Retail Scheduled Completion: Nov One Union Station 110,000 SF Office with Retail Scheduled Completion: Dec Cadence Apartments 219 Unit Apartment Scheduled Completion: Nov Historic Denver Union Station Boutique Hotel and Retail Scheduled Completion: Summer Alta City House 281 Unit Apartment Scheduled Completion: Spring Wewatta 290 Unit Apartment Scheduled Completion: Dec th & Chestnut 55,000 SF Retail 312 Unit Apartment Projected Completion: April, Wewatta 301,500 SF Office Projected Completion: Q1, Wewatta & The Bike Hub 200,000 SF Office The Bike Hub Projected Completion: Spring th & Wewatta 12 51,000 SF Office and Retail 176 Room Hotel Projected Completion: Q3, Wewatta 105,000 SF Office and Retail 250 Unit Apartment Projected Completion: TBD Chestnut 440,000 SF Office Projected Completion: TBD

48 th Street Developer: Contractor: Architect: Trammell Crow Company Saunders 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, 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

49 2 DaVita World Headquarters Developer: Contractor: Architect: Trammell Crow Company Saunders MOA Date Began: December 2010 Date Completed: August 2012 Square Footage: 260,000 Notes: The 2 nd phase of the th 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

50 3 North Wing Building: IMA Financial Plaza Developer: Contractor: Architect: First Century Development Haselden Construction Anderson Mason Dale Architects Date Began: April 2012 Scheduled Completion: November 2013 Square Footage: 112,000 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

51 3 North Wing Building: IMA Financial Plaza Construction Photos Front View Upper Side View

52 4 South Wing Building: One Union Station Developer: Contractor: Architect: East West Partners/Starwood Capitol Group Kiewit Building Group Anderson Mason Dale Architects Date Began: August 2012 Scheduled Completion: December 2013 Square Footage: 110,000 Notes: Five story office building Antero Resources, the lead tenant, will reside in the 2 nd, 3 rd, 4 th, and 5 th floors; 1 st Floor Retail Pursuing LEED - Gold Certification Construction photos are on the next page

53 4 South Wing Building: One Union Station Construction Photos Lower Side View Upper Side View

54 5 Cadence Apartments Developer: Contractor: Architect: Zocalo GE Johnson 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 Construction photos are on the next page

55 5 Cadence Apartments -Construction Photos Below View Front Side View Side View Back Side View

56 6 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 2 nd and 3 rd 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 Construction photos are on the next page

57 6 Historic Denver Union Station Construction Photos Upper Front View Upper Side View Lower Back View Upper Back View

58 7 Alta City House Developer: Contractor: Architect: East West Partners/Wood Partners Wood Partners 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 Construction photos are on the next page

59 7 Alta City House Construction Photos Upper Back View Lower Front View

60 8 Block A: 1650 Wewatta Developer: Contractor: Architect: Holland Partners Holland Partners Shears Adkins Rockmore Date Began: January 2013 Scheduled Completion: December 2014 Square Footage: 6,000 SF Retail 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 Construction photos are on the next page

61 8 Block A: 1650 Wewatta Construction Photos

62 9 20 th & Chestnut Developer: Greystar Contractor: Martines Palmeiro Construction Architect: The Molhern Group Date Began: April, 2013 Scheduled Completion: April, 2015 Square Footage: 55,000 SF Retail 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 Construction photos are on the next page

63 9 20 th & Chestnut Construction Photos

64 Wewatta Developer: Contractor: Architect: Hines/Perlmutter Whitting - Turner HOK Scheduled Start: August, 2013 Scheduled Completion: Q2, 2015 Square Footage: 300,000 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 Construction photos are on the next page

65 Wewatta Construction Photos

66 11 Triangle Parcel: 16 Wewatta & The Bike Hub Developer: Contractor: Architect: East West Partners/ Starwood Capital Group TBD TBD Scheduled Start: October, 2013 Projected Completion: Spring, 2015 Square Footage: 220,000 SF Office 16 Wewatta 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 The Bike Hub

67 12 16 th & Wewatta: Office Building and Hotel Developer: Contractor: Architect: Continuum Partners TBD TBD Scheduled Start: Q1, 2014 Projected Completion: Q3, 2015 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

68 13 17 Wewatta Developer: Contractor: Architect: Scheduled Start: Projected Completion: Square Footage: Holland Partners Holland Partners TBD TBD TBD 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

69 14 16 Chestnut Developer: Contractor: Architect: East West Partners/Starwood Capital Group TBD Gensler Scheduled Start: March, 2014 Projected Completion: Square Footage: TBD 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.

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

72 The Auraria Campus Denver s Urban Academic Community Annual Report

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76 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

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78 CU Denver Academic Building $60 million MSU Denver Athletic Sports Field Complex $17 million

79 5 th Street Parking Structure with Retail Component $20 million Library Renovation $32 million 79

80 The 5 th Street Hub $1.5 million Campus Infrastructure Development $3 million

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82 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

83 Other Initiatives Tivoli Conference Center Concept Performing Arts Center Expansion & Renovation Tivoli Park & Events Center Renovation

84 Connecting Auraria (and Higher Education) with Denver through Presence through Investment & Development through Concept Mine Pavilion by Pezo von Ellrichshausen

85 through Partnerships The Connect Auraria Coalition through Streetscape

86 through Transit & Access.

87 through the Education of the Future Workforce & Leaders of Downtown Denver

88 Questions and Answers

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