“Health care remains a bright spot across the metro area as most major systems are planning expansions, renovations or new hospital projects. Multifamily also continues to move forward though at a more measured pace compared to the rapid growth seen in prior years,” he says. 

“Activity is particularly concentrated in the River North Arts District (RiNo), which is beginning to see hotel projects enter planning and early construction phases. Cherry Creek continues to stand apart from broader local and national trends, driven by a strong flight-to-quality dynamic across office, retail and residential markets,” he adds.

“Denver benefits from a strong and diverse employer base, which continues to support long-term economic stability; however, challenges remain. The full impact of Denver’s data center moratorium has yet to be seen, but [it] will almost certainly push related construction activity to surrounding cities and into Wyoming, where demand remains strong,” he says.