Adopted 2017 Annual Operating & Capital Improvement Budget

COMMUNITY PROFILE
Economic Development
In June 2015, NerdWallet ranked Greenwood Village as the best city in Colorado to start a new business. The
prestigious ranking is supported by the City’s access to a highly educated and skilled workforce, favorable business
climate, suitable infrastructure and past economic performance. The local business parks and commercial corridors
continue to attract new businesses to the City. Notable business openings during the past twelve months include:
In early 2016, CoBank moved into its newly constructed 296,000 square foot office building located in the Village
Center. CoBank is a national cooperative bank serving vital industries across rural America. The bank provides
loans, leases, export financing and other financial services to agribusinesses and rural power, water and
communications providers in all 50 states.
AECOM completed tenant improvements and now fully occupies the Millennium Building, at 6200 South Quebec
Street. AECOM is currently listed on the Fortune 500 as one of America’s largest companies providing fully
integrated professional and technical services to design, build, finance and operate infrastructure assets around
the world for public and private-sector clients.
The John Madden Company re-acquired the Quebec Court Building located at 5800 South Quebec Street, which it
originally developed in 1980, and has initiated a complete renovation.
Greenwood Village continues to see significant economic growth and while limited, opportunities for infill development
within the City do exist. Vacant land along the I-25 corridor offers several desirable development prospects. In fact,
there are a number of large-scale projects currently in various stages ranging
from concept to construction.
Shea Properties has initiated construction of the third, and final, building of the
Arapahoe at Village Center Station development located at I-25 and Arapahoe
Road. The new 12-story building will include 283,103 square feet of office
space, an additional 9,416 square feet suited for retail, and a 6-level parking
garage concealed on the west side by a 2-story retail/office wrapper building.
Construction has also begun on the new Village Center DTC office building, at
the Village Center on the east side of I-25. Village Center DTC will add to the
Village’s inventory of high quality commercial buildings. Village Center DTC
will include a 280,000-square foot office property on 5.24 acres, consisting of
a 10-story, speculative office building with a separate six-story, 986 parking
space structure. Village Center DTC will be located within walking distance of
the Arapahoe Light-Rail Station and directly adjacent to the newly approved
Westin Hotel. The project includes two outdoor plazas and a series of off-site
transportation improvements, including the extension of Willow Drive and
Caley Avenue.
The Westin Hotel will be the first five-star hotel in the south metropolitan area
and is expected to begin construction in 2016. The new hotel franchise will be
located on the
east side of I-25, adjacent to the Arapahoe Light-Rail
parking garage, where the current surface parking lot is
now located. The proposed hotel will include 203 hotel
rooms and suites, a restaurant, bar, coffee shop, meeting
space, swimming pool, and underground parking. The
hotel will be located steps from the pedestrian bridge and
parking structure serving the RTD Arapahoe at Village
Center light-rail station and the Village Center retail and
office buildings. The hotel will be highly visible and
convenient to I-25, making it easily accessible for
motorists and light rail users alike.
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