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.
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."
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.