April 2024 City Scoop: Denver
City Grill
Graham Coddington
Vice President
Saunders
Coddington predicts that Denver’s construction market will continue to stabilize in 2024. “Rate increases over the past years slowed the private market and allowed the overall market to calm from the previous period’s pace of change,” he says. At the same time, Coddington notes that the public market “has opportunities, and companies with diverse work programs will be able to shift focus to that side of the market.”
The executive contends that the “Denver area’s economic strength is the number of funded public projects; P3 projects that draw outside capital to the market; and some high-quality privately funded projects that will continue moving forward.”
Coddington says examples include student housing, science and research, and health education facilities for Colorado’s higher education systems as well as large entertainment and hospitality P3s for the National Western Center and Larimer County.
“The market’s weaknesses include the lack of multifamily and single-family construction for contractors and the inability to provide more housing units to the region,” he says.
