Lower Downtown District, Inc.

New Office Mates Moving to LoDo

Sep 13, 1999

What Do Corporate Newcomers Mean to LoDo - and LDDI?

IT WASN'T THAT LONG AGO THAT THOSE WITH "SERIOUS" CAREERS STAYED UP THE STREET WHILE THE REST - THE AD AGENCY CREATIVE TYPES, THE "WE LOVE THE STRUCTURES OF LODO" architects and the cutting-edge telecom guys - filled the lofts of Lower Downtown.

Now, bankers, lawyers and consultants are sharing spaces with cooking schools and coffee shops. And as we become more and more "integrated," we're finding that it's not just a neighborhood we share.

"Before, LoDo mainly appealed to those with eclectic tastes," says Todd Wheeler of Cushman & Wakefield Realty who's managing the leasing of 16 Market Square. "But recently the prestige factor has moved to LoDo. . .and more
conservative businesses are starting to recognize all that LoDo has to offer."

Perhaps Davis, Graham and Stubbs, metro Denver's fourth largest law firm, is one of the best examples of LoDo's growing appeal to more traditional businesses. In September, 2000, the firm will become the anchor tenant for
the Millennium Financial Center - a decision that the firm calls a "pioneering step."

"The future of this firm and our profession depends on the next generation of lawyers," says Gale Miller, managing partner at the firm. "Moving to Lodo gives us an edge in attracting the brightest young talent."

Is a more casual environment a sign of the times or is this type of move a sign that LoDo's changing?

Maybe it's both. According to statistics compiled by the downtown Denver Partnership, LoDo is at least changing to meet the changing times. Three new constructions - 1899 Wynkoop, 16 Market Square and Millennium Financial
Center - will cost nearly $1.2 billion to construct and bring 23 new stories and almost 600,000 square feet to LoDo by the end of next year.

While parking lots disappear, renovations are also on the rise. The Sugar Building and Kansas Plow Building - structures that have remained vacant for years - will add 10 more stories and over 100,000 additional square feet to
LoDo.

Who will be filling these spaces at $19 - $30 a square foot? The creative types are staying - Thomas & Perkins Advertising, for example, is trading its old home on Larimer Square for more space in the Sugar Building - while
corporate offices of all types will soon share a roof with restaurants, retail shops and even residents.

"LoDo will become even more balanced," predicts Dan du Bois, Executive Director of LDDI. "The ground level of 16 Market Square will be retail; the middle floors, businesses; and the top, penthouse condos. It's a perfect example of a mixed-use neighborhood - and the trend for tomorrow."

As stakeholders, our new office mates will share more than our space. They'll share our passion for LoDo - while bringing a new perspective. And perhaps that's the real benefit to LDDI and LoDo. New perspectives create a
truly balanced neighborhood, one that sparks opinions, debate and action.