Today, the Metro Denver Economic Development Corporation announced bits and pieces of Colorado’s bid for Amazon headquarters in Denver.
The details were revealed today, November 16th. With all the hush hush around the bid, Denverites have been all but salivating for morsels of Amazon information! And now we have just that - mere morsels of the big picture. Of course, portions of the bid have remained confidential. But above all else, the release of information confirms that Metro Denver is still pursuing the opportunity to host Amazon’s North American Headquarters.
Here Is What We Knew before the release of Denver's Redacted Bid:
The headquarters would employ as many as 50,000 people
The project would bring over $5 billion in construction and operation investments
Eight sites are currently included in Metro Denver’s bid for Amazon headquarters in Denver
States in the running hope to hear a shortened city list from Amazon in January
Here's what we learned from the release of the bid:
Colorado touted lifestyle and the benefits of our highly educated workforce
- There is no plan to ask taxpayers to pay more in order to incentivize Amazon
- Denver offered assistance with hiring talented employees
- Colorado submitted their bid amongst 54 other cities, states, provinces, districts and territories
With our hands in the Denver real estate realm, Live Urban has been home to a flurry of discussion; what would Amazon headquarters in Denver do to our residential real estate market?
Jana Miller, Denver Real Estate Agent and Live Urban’s Managing Broker views the potential change through the eyes of her clients:
“My sense is that it would have heavy impact on a very important price point, $500k-$750k, which is the move-up segment. People who currently can't move up because they can't find a home or they are afraid of selling and having nowhere to go will have even more competition. Subsequently, the incredibly competitive $350-$500k range will have even more competition because even fewer people will move up. In essence, it will contribute to the current log-jam and overall lack of inventory.
I also foresee rapid price increases in popular city neighborhoods that offer high walkability and the quality of life that techies seek. We'll see more scrapes/new builds to accommodate density. We could also see homes getting smaller to fit more on infill lots. All the density will increase traffic, but also hopefully drive up car-sharing, and services like Lyft and Uber.”
John Skrabec, Live Urban Owner and Real Estate Agent sees the potential Amazon headquarters in Denver through a long-term lens, focusing on the big picture:
“I think it’s a positive net effort for Denver. I think it will have an impact on prices - although I don’t think it’s possible to put a real number to it. Despite the naysayers and predictions of doom, it won’t drive people away. Expensive markets such as Seattle, San Francisco and New York City have all continued to prosper despite soaring high real estate prices, and I think Denver might follow suit. We’re becoming the city that we’ve aspired to be.”