Residential projects account for 17 of the 28 cranes dotting Denver’s skyline, according to Crane’s latest Quarterly Cost Report from Rider Levett Bucknall (RLB).
That’s a minor decline from the 29 cranes in the report’s previous count. Nationally, the number of tower cranes increased 10 percent, confirming the hot pace of urban building. Residential and mixed-use lead the activity.
“The increase in the net crane count indicates that the construction industry is prospering, despite a tight labor market and materials tariffs,” said Julian Anderson, president of RLB North America. “Our outlook for the industry through the end of the year remains positive.”
In Denver, Market Station, a $200 million complex of retail, residential and workplace buildings, is on track to revitalize the Lower Downtown neighborhood, according to RLB. The company predicts that construction in the downtown area is likely to grow as surface parking is replaced by mixed-use buildings designed to heighten the presence of retail and dining businesses in response to the increasing residential population.
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Margaret is a veteran Denver real estate reporter and can be contacted
here.