Page 6B—
COLORADO REAL ESTATE JOURNAL
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June 1-June 14, 2016
W
ith growth taking off
across the Denver
metro area, there’s
a city flying well above the
radar.
Companies large and small
are discovering that Centennial
is the place to land, and they
are investing accordingly. The
commercial development
boom – in conjunction
with a rise in housing and
employment opportunities
– has centered on the city of
107,000, generating significant
buzz in the Denver South
region.
Several major projects are
underway and more are on
the horizon in the latter half
of 2016, building upon a
sturdy foundation of nearly
4,600 business that already call
Centennial home.
The 42-acre Jones District, a
mixed-use development that
includes plans for 1.8 million
square feet of office, retail,
and residential, is expected to
break ground this year on its
first phase. The transit-oriented
development will link to the
RTD Southeast Light Rail line’s
Dry Creek Station through a
new pedestrian connection
currently under construction.
Work began recently on a
227,000-sf, $45 million office
building for Arrow Electronics
in the Panorama Corporate
Center, near I-25 south of Dry
Creek Road.
Multiple office expansions
are also underway in
Centennial, including INOVA,
which includes a 212,000-sf
office building at the northeast
corner of Havana and
Geddes, and 2016 has already
seen an influx of dozens of
smaller businesses, including
new microbreweries. These
companies have found a home
in Centennial.
The question is: who will be
the next to make their mark?
All the Right Pieces
The flourishing business
landscape is due to the fact
that Centennial possesses the
right ingredients for success.
It’s served by Centennial
Airport, the second most
active municipal airport in
the country, making it easy
for business executives to
stop in for a conference or
grand opening. Centennial
also extends east and west of
Interstate 25, and a stop along
the light-rail line provides
regional accessibility.
Location and convenience
are among the selling points
that grab the attention of
commercial site selectors, as is
proximity to a well-educated
workforce. More than 50% of
Centennial residents over the
age of 25 possess a bachelor or
graduate degree. Employers
are recognizing this – between
2013 and 2014, more than
7,500 jobs were added in
Denver South, a region of
economic prosperity that
encompasses 18 business parks,
seven Fortune 500 companies,
and more business relocations
than anywhere in the region.
The City of Centennial alone
is projected to add 25,000 jobs
by 2025.
But everyone knows it takes
the right game plan to thrive.
That’s where the city’s approval
team comes in. A surprisingly
fast entitlement process is
the norm, not the exception,
and Centennial’s economic
development division guides
business leaders through the
city’s offerings while answering
the many questions that come
with any project.
A Life of Quality
There are many reasons why
Centennial was home to the
third-hottest ZIP code in the
nation last year, according
to Realtor.com, and it goes
beyond just economic factors.
The city boasts 300 days of
sunshine per year, stunning
views of the Rocky Mountains
and high-performing school
districts. USA Today’s 2015
ranking of Centennial as the
fourth-best place to live in
the U.S. owes much to these
positive attributes.
As a result, people are
coming in droves and multiple
housing projects are in various
stages of completion. Quality of
life components and a healthy
business climate are big drivers
behind the decisions to locate
in Centennial. Access to well-
paying jobs is key; household
income in Centennial jumped
16.4 percent between 2010 and
2014.
With a fertile environment
in place, Phoenix-based The
Wolff Company broke ground
last fall on the Elevate at
INOVA Apartments, a 285-
unit apartment project on the
southeast corner of Havana
Street and Geddes Avenue.
The project is slated for
completion in fall 2017.
Cityscapes at Southcreek
is a planned 70-unit, single-
family, detached residential
community at the northeast
corner of Jordan Road and
Broncos Parkway. More
residential development
applications are currently
under review.
Into the Future
It’s with economic vitality
in mind that Centennial
launched its fiber initiative.
The city is getting ready to
construct a $5.7 million fiber-
optic network to maintain its
competitiveness with major
cities and continue to attract
and retain top employers.
The new infrastructure will
improve telecommunications,
enabling businesses to send
large amounts of data in a
fraction of the time it takes
now. The upgrade is expected
to drive down costs for primary
employers and fulfill an
essential 21st century need,
putting Centennial’s businesses
in an optimal position as they
excel into the future.
The physical elements
are critical, but it’s equally
important to have brilliant
minds at work. Centennial is
one of 12 U.S. cities – and the
only suburban community –
to participate in Bloomberg
Philanthropies’ Innovation
Team program, developing
innovative ways to improve the
city’s transportation system.
Other Facts about Centennial
• The city has a median
household income of over
$90,000.
• Centennial uses a
modernized land development
code to simplify the process.
When all was said and done,
Centennial issued 10 percent
more commercial building
permits in 2015 than it did the
previous year.
• Centennial is a hotbed for
the aerospace, finance, and
professional services industries.
Centennial
