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Denver Business Journal
Arvada buys former charter school building
The City of Arvada recently purchased a 44,316-square-foot building that formerly housed the Early College of Arvada.<\p> Arvada bought the building, at 4905 W. 60th Ave., for $6.35 million from ECHSA Building Corporation, according to council documents. The funding for the purchase will come from the city’s general fund.<\p>
Retail center at ex-Elitch Gardens site sells
A shopping center located on the former site of Elitch Gardens in Denver’s West Highlands sold for $26.9 million this week. <\p> California-based TRC Retail, a retail real estate operating company, purchased the shopping center at Highlands Garden Village, 4450-4700 W. 38th Ave., from HGV Commercial LLC on Tuesday.<\p>
Denver ski giant resorts to be Olympics venues
Two ski resort companies that are based in the Denver-metro area will host events for the 2034 Winter Olympics in Utah, the companies learned Wednesday.<\p> The International Olympic Committee confirmed its selection of Salt Lake City's bid for the games, meaning that venues under the ownership of Denver-based Alterra Mountain Co. and Broomfield-based Vail Resorts will be put to use.<\p>
Centennial company reaches supersonic jet engine deal
Engines for Boom Supersonic's passenger jetliners will be assembled in Texas and shipped to the company's North Carolina factory under an agreement it recently expanded with StandardAero, the company announced Tuesday.<\p> Centennial-based Boom said it expanded its existing maintenance, repair and overhaul partnership with San Antonio-based Standard Aero to include production of the engine, named Symphony. <\p>
Colorado-born restaurant chain starts franchising
After 25 years in business, Yampa Sandwich Co. is looking to become more of a regional brand by adding franchise locations within Colorado and across the Southwest.<\p> The company has eight Colorado restaurants — five in the Denver-metro area, two in Fort Collins and one in Steamboat Springs.<\p>
Time's running out: Nominate for DBJ's Most Admired CEO awards today
It takes a special blend of vision, courage and savviness to helm an organization, especially during these challenging, modern times.<\p> Each year, the Denver Business Journal recognizes the region's distinguished top executives. You have less than a week left to make sure your CEO has a chance to win the honor. The final day to submit an application is Monday, July 29.<\p>
Trader Joe’s coming to northwest suburb
A northwest suburb of Denver will soon be home to a new store by a popular grocery store chain. <\p> Trader Joe’s has signed a lease with City Center Marketplace in Westminster for a vacant 25,000-square-foot unit situated between Sierra Trading Post and Golf Galaxy, according to City Councilman Obi Ezeadi.<\p>
Opioid treatment clinic to expand sixfold in Denver area
A Phoenix-based opioid treatment clinic that first came to the Denver area in 2022 is on the precipice of a major expansion.<\p> Community Medical Services (CMS) held an open house in Englewood on Tuesday, marking the first of six new clinics that the treatment center will open in the region over the next 90 days. <\p>
Developer plans to convert Denver office to affordable housing
A California-based real estate developer is proposing to convert a downtown Denver office building into an affordable housing project for seniors. <\p> A concept plan submitted to Denver planners proposes converting a five-story office building at 800 Grant St. in the Capitol Hill neighborhood into a seven-story, 76-unit affordable senior housing project. <\p>
Redevelopment plan approved for Evans School
The Denver City Council approved two measures Monday night that will help propel redevelopment of a historic school building into restaurants, shops and a community gathering space in the Golden Triangle neighborhood. <\p> The council voted 10-1 to create the Evans School Urban Redevelopment Plan for approximately .8 acres at Acoma Street and East 11th Avenue. It also approved tax increment financing of $3.3 million, nearly 13% of the total $26 million project.<\p>
Denver co. lands $55M for new kind of batteries
Peak Energy, a Denver and San Francisco-based company developing low-cost, utility-scale energy storage for the grid, secured funding to launch full-scale production of sodium-ion batteries in the United States. <\p> The company landed $55 million in a Series A funding round, revealed July 17 in a company announcement. <\p>
Country clubs are getting younger. Not everyone is happy about it.
Pine Tree Country Club general manager Andrew Smith isn’t sweating the dress code.<\p> The Birmingham, Alabama, club has relaxed its clothing rules since its founding in 1968, when it debuted as the result of a merger between two private clubs. Since then, the focus at the club has been on creating a fun, friendly atmosphere where people can meet — and membership has grown as a result.<\p>
Denver's strongest banks revealed
The banks that dominate headlines and deposits in Denver are often the big players: national banks like Wells Fargo or JPMorgan Chase, or Lakewood-based FirstBank.<\p> But the Denver-metro area has far more than just a few big players. It hosts a total of 67 banks vying for customers of all kinds. They range in size from fewer than $15 million in assets to several trillion. Some have just a few branches in the area; others have dozens and plans for more soon.<\p>
Denver investment group buys New York City’s largest parking business
Just over a year after it was purchased by its CEO and a private equity firm, New York City’s largest parking company has been sold again.<\p> Denver-based investment firm The Broe Group and Hudson Valley Parking Trust have purchased Icon Parking for an undisclosed price.<\p>
Meet the nominees for the DBJ's 2024 CFO Awards
Chief financial officers oversee all things dollar signs for Denver’s top companies. These high-ranking executives provide the financial guidance needed to make a business model work, recognize and manage risk, as well as find and implement creative ways to boost revenue while diminishing debt.<\p> All that, in our view, is work worth celebrating.<\p>
IRS ERC moratorium could cost the agency billions
Efforts by the Internal Revenue Service to crack down on Employee Retention Credit fraud could cost the agency billions of dollars in interest payments.<\p> The IRS in an announcement in June said it had taken the time since its Sept. 14 moratorium on processing new ERC applications to analyze the more than 1 million ERC claims filed in 2023. Through that analysis, it found that between 60% and 70% of the applications showed an unacceptable level of risk.<\p>
United Airlines' CEO says it has turned tables on low-cost rivals
United Airlines CEO Scott Kirby weighed in on the fate of ultra low cost carriers, which have been struggling with higher costs as they try to compete with legacy carriers.<\p> “The play is almost over,” Kirby quipped on Thursday’s earnings call for the dominant carrier (Nasdaq: UAL) at Denver International Airport. <\p>
Computer outage causes flight delays, cancellations at DIA
Multiple flights were canceled or delayed at Denver International Airport after a widespread tech issue caused problems for multiple companies worldwide.<\p> As of 1:15 p.m., 553 flights had been delayed and 107 flights had been canceled at Colorado's biggest airport, according to FlightAware.com.<\p>
City near Boulder introduces electric fleet
A city in Boulder County is the first in the nation to adopt a fully electric fleet of vehicles for its recycling and waste services.<\p> Through a partnership between Louisville and the Republic Services of Denver, the fleet serving the city will include four McNeilus Volterra electric vehicles, an announcement from the city stated.<\p>
Large Colorado foundation to move HQ to RiNo
A large private philanthropic foundation will relocate its headquarters to a new space in Denver’s River North Art District.<\p> The Colorado Trust is expected to move into the 14,000-square foot, full-floor headquarters at The Hub North in the first quarter of 2025. The foundation’s mission is to advance the health and well-being of people who live in Colorado, according to its website. <\p>
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