Lack of Development

Well Ladies and Gentlemen,

Due to the recent economy, suffice to say, there hasn't been much to post on this blog.

So, I'd like your help. If you know of any developments in your area, please email me (alephew at gmail.com) so you can share the good news with everyone! Now since there is much un-development happening, let's report on that as well.

When I created this blog (my first), I did it to help out my previous employers (condo developers) find localized information. This was to aide them in making purchasing decisions, as well as create bank packages to apply for mezzanine funding. My first blog has stretched it's legs since then.

Let's pool our resources to help those who still want to open business in our communities. Anything that you think will help others succeed, or save them from making a poor choice, send it! Pictures, stories, articles, you send it, we'll post it, and of course provide the source (unless anonymity is requested).

Email alephew at gmail.com

Photographer: Unknown

Colorado companies added 10,100 jobs in April

Denver Business Journal

Colorado businesses added 10,100 nonfarm wage and salary jobs in April, a slightly greater increase than usual for the month, the state Department of Labor and Employment said Friday.

Nonagricultural employment has grown 43,600, or 1.9 percent, over the past 12 months, rising to 2,357,300.

"Job growth is expanding at a pace similar to last year, but rising energy and food prices, combined with continued sluggishness in construction, are likely to dampen growth for the remainder of the year," Donald Mares, executive director of the Colorado Department of Labor and Employment, said in a statement.

The seasonally adjusted unemployment rate was unchanged at 4.4 percent in April. Although the jobless rate has remained steady for the past three months, it is eight-tenths of a percentage point higher than a year ago, and matches the highest rate since mid-2006. The national unemployment rate was 5 percent in April.

Colorado officials said that eight major industries added workers in April, while three cut jobs.

Professional and business services led the expanding industries, adding 7,200 positions, with stronger-than-usual hiring in administrative and business support services. Construction payrolls increased by 3,700.

Education and health services added 1,100 positions, all of them within the health care and social assistance subsector. Tax preparation activity probably helped financial activities add 700 positions.

Meanwhile, leisure and hospitality shed 3,000 jobs as the winter recreation season ended. Other services dipped 600, while manufacturing trimmed 300 jobs in April.

Westfield Launches 500,000-SF Office Project in Denver

"350,000-SF Prelease with Xcel Energy Spurs Construction of New 22-Story Office Tower at 1800 Larimer St.
Written by Jason Mower at Costar.com

Westfield Development Co. said it will begin construction on what it described as Denver's first downtown office high-rise development in more than 20 years after Xcel Energy agreed to lease approximately 350,000 square feet in the new building expected to deliver in 2010.

The 22-story, 496,359-square-foot central business district project at 1800 Larimer St. will qualify as one of the largest new office construction projects to start construction in the U.S. so far this year. It will also be one of the first LEED CS Platinum high-rise office buildings in the United States.

"Our new location will have state-of-the-art environmental features, and will be a benchmark for future office building construction in Colorado and the region," said Richard C. Kelly, Xcel Energy's chairman, president and CEO.

Westfield Development Co., Westfield Capital Partners, Frederick Ross Co., Apartment Realty Advisors and Citywide Banks will join Xcel in the nearly 75% preleased building.

Wachovia will provide construction financing. Frederick Ross Co. has been selected as the exclusive leasing and marketing representative for 1800 Larimer. Thomas Lee, Randy Lewis and Jane Rubley of Frederick Ross Co. are the exclusive leasing representatives.

The building will feature a number of energy-saving and sustainability features, including special monitoring and control equipment, low-e, insulating glass windows, and raised floors throughout to accommodate the under floor air distribution system, which helps generate utility cost savings and gives occupants more individual temperature control over their own immediate office environment while eliminating the need for most tenant ductwork and accommodate the installation of electrical and data cabling distribution and modular wall systems.

Principals in Westfield Development Co. have been involved with real estate transactions and development around the greater Denver metropolitan area since 1970, developing more than 5 million square feet of commercial space and planned communities. In addition to 1800 Larimer, Westfield Development is also developing Lincoln Station, a new mixed-use, transit-oriented town center development at the end of the new southeast light rail line. The development includes 500,000 square feet of office, 1,500-2,000 residential units and 50,000 square feet of retail space. "