Continuing on my Downtown Reinvestment series, we are going to look at the re-branding and reinvestment of two properties sharing the same block and plaza: 717 17th Street (John’s Manville Plaza) and 707 17th Street. Improvements include: adding outer facing ground floor retail with outdoor patio space, and plaza improvements by adding more trees, plants and more places to relax. The property owners are re-branding the plaza as ‘Denver City Center’, integrating both buildings into the same public place.
Here are a couple renderings of the project. Some key features seen here include improved outdoor seating on the plaza, outdoor patio space, and updated signage.
The 707 17th Street, (20-floors dedicated to the Marriott Denver City Center and 22-floors office space), improvements are mostly complete. These improvements include updated signage, street level improvements, new lobby finishes, and clearly designating where the hotel and office entrances are. There will be 12,000 square feet of new retail and restaurants added to 707 17th Street.
Construction is very apparent around John’s Manville Plaza (717 17th Street). You can clearly see they are adding ground floor retail pads as well as improving the building signage. Other improvements include floor to ceiling glass on the lobby floor helping the building and plaza become more inviting. A new entrance is also being constructed on Stout Street to form a continuous lobby that connects the plaza and street entrances.
Another new feature on these buildings are the logos Aecom, and Jacobs have put up. The only photo I have is in black and white but these are white logos to begin with.
With all these improvements it brings the question to mind: how are these properties doing in terms of leasing and vacancy? Right now both towers have a combined vacancy rate of about 15% which is very good for office properties. Crescent, the property owners, expect this to go down to 10% within the next couple months as new tenants have signed leases. This is another great improvement for central downtown helping activate areas that have been very empty and ominous feeling in the past decades.