Construction Costs Pose Stiff Challenge For Downtown Denver

One of the usual effects of a building boom is higher construction costs. So far, local developers have coped. But can the coping continue? Find out at our Future of Downtown Denver event Sept. 21.

Courtesy of Mark Witkiewicz

McWhinney SVP Mark Witkiewicz, who will be a speaker, tells us although Denver is a great market, construction costs still remain an issue. "We're facing a problem of supply-demand with subcontractors, and general contractors need to come up with a solution to meet the low supply and high demand. Today we're working through the challenges, but in the future, if they persist at this capacity, we won't be able to keep up and meet the demands facing the market."

Courtesy of McWhinney

Even so, Mark says McWhinney is a solution-oriented company and continues to "work with general contractors to come up with viable, long-term solutions.” Currently McWhinney, along with partners Grand American and Sage Hospitality, is at work on the mixed-use Dairy Block in LoDo, which will feature the 172-room The Maven hotel, 250k SF of office space, 60k SF of retail and restaurant space, and a below-grade parking garage, all integrated with the three historic buildings on the block.

Hear more from Mark and our other experts at the Future of Downtown Denver, beginning at 7:30am Sept. 21 at 1660 Lincoln, a Downtown tower that Unico Properties recently renovated.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Denver Newsletters
Related Stories

Denver Construction Costs On The Rise, Surpass National Increases

New Retail Tenants Coming To Cherry Creek North: The Denver Deal Sheet

Denver Office Market Shows Signs Of Life As Tenants Commit To Longer Leases

Scheels To Open 300K SF Store In Littleton: The Denver Deal Sheet

Kroenke Announces $135M Renovation For Denver's Ball Arena

Mountain Developers Look To Mobile Homes, Deed Restrictions For Affordability Solutions

Developer Seeks Permit For Denver Energy Center Conversion Project

Fertility Provider Opens Clinic At 1900 Lawrence Office Tower: The Denver Deal Sheet

Lender Requests Receiver For X Denver Apartment Building Near Coors Field

'We Aren't Competitive': Power, Taxes Keep Colorado On The Data Center Sidelines

Nearly 35K SF Shopping Center Sells For $8.5M: The Denver Deal Sheet

Racing To The Finish Line: How Early Prefabrication Keeps Projects On Time