Construction in Denver has remained strong over the first part of the year.
The area has seen unsustainably fast growth over the last ten years, with the cost of living increasing in tandem. With Residential construction starting to slow, nonresidential construction has slowly increased since 2023. In the years ahead, we expect the growth to come from the education, healthcare, and infrastructure sectors. Now that people have houses, they will need schools, medical care, and a way to get around the city. Most of Denver’s population growth has occurred outside of the city itself. Officials now must shift spending towards tying these disparate communities together. To that end, highways and commuter rail should be a priority in the coming years.
Throughout recent months Denver/the Front Range has been seeing continued long lead times with MEP equipment and is experiencing some labor shortages as the current labor pool trails construction demand. In order to keep companies and teams staffed, incentives are starting to be included, which is having a knock-on effect on overall costs.