Denver 7th Biggest Increase Hotel Room Construction Reported in RLB Crane Index Report
Denver, CO – Crane counts over the past six months point to steady construction activity, with residential and mixed-use developments dominating the market, surveyed at a combined 76 percent.
Many multi-million dollar residential projects, commercial towers, and mixed-use developments are forecast to break ground this year. It is anticipated that crane counts will remain steady as the flow of completed developments offsets commencing developments.
After experiencing a construction boom in the past year, Denver crane counts are beginning to steady. They are far from wavering, however, as Denver is one of the leading cities in hospitality construction. According to STR Inc., Denver has experienced the seventh-biggest increase in hotel room construction in the past year, with nearly 3,000 hotel rooms currently underway.
Crane counts for residential and mixed-use projects are the second highest, followed by healthcare, commercial, and transportation developments. Construction employment supports past crane counts, with over ten thousand construction jobs added in the past six months. Denver can expect their construction market to remain steady, with upcoming projects in education, healthcare, and mixed-use sectors.
[Editor’s Note: This was reprinted with permission from RLB.]
Images courtesy of RLB