2025 Market Facts VRP - Flipbook - Page 76
68 | ECO NO MI C PRO FI L E & MA R K ET FACT S 2025
PROFILE
115,302
POPULATION
33.9
SQUARE MILES
COURTESY BUTTERFLY PAVILION
Butterflies can be seen as they emerge trom their chrysalis in the Butterfly
Pavilion’s Wings of the Tropics exhibit, featuring high-definition cameras and live
feeds.
47,995
HOUSEHOLDS
WESTMINSTER
$96,145
MEDIAN HOUSEHOLD
INCOME
Suburb ‘smack dab’
in right place for biz
WESTMINSTER — The website of the northwest Denver suburb states its advantages
succinctly: “Smack dab between Denver and Boulder, Westminster has prime proximity
to both the exceptional intellectual capital available in Boulder, as well as the incredible
millennial workforce in the Denver metro area. Plus we’re right in the heart of the U.S.
36 Tech Corridor connecting Denver to Boulder.
“We’re taking a different approach to some of our new growth while still maintaining
more than 30% of our land for open space, parks and recreation — all while working to
preserve and revitalize our historic areas.”
The town, which extends into Jefferson and Adams counties, had fewer than 20,000
residents as late as 1970, but began to boom. It topped 100,000 residents in the 2000
census and now nears 120,000.
It’s home to such employers as Ball Corp., Trimble Inc. and Maxar Technologies Inc.,
which delivered the chassis for a NASA mission that launched a satellite to study an
asteroid orbiting between Mars and Jupiter.
Westminster has seen an improvement in its office vacancy rate from 14.9% last period to 12.4%, according to data compiled by Costar. This is lower than both the national
average of 20.4%, as reported by Moody’s, and the Downtown Denver average of 13.4%,
according to Andy Le, a spokesperson for the City of Westminster.
“The city has also been fortunate to see the expansion of large employers such as TriSalus Life Sciences and Creation Technologies, which have both recently added jobs and
added significant square feet to their locations in Westminster,” Le said.
A report from the University of Colorado Boulder’s Leeds School of Business noted a
“clustering effect” that causes firms offering professional and business services to group
together. It said Maxar, GeoVision and Aerotek represent that trend in Westminster.
The first permanent white settler, Pleasant DeSpain, built his home in 1870 on 160
acres near what is now West 76th Avenue and Lowell Street, and the area became known
as DeSpain Junction. It was variously known as Harris and Darell Park until the town
incorporated in 1911 and took the name Westminster in honor of Westminster Castle,
the imposing building at West 83rd Avenue and Federal Boulevard that was built starting
in 1891 and now is owned by the Pillar of Fire Church.
Major developments include transit-oriented growth at Westminster Station, in the
southern core of the city and centered around a stop on the Regional Transportation
District’s B-Line commuter rail station.
Smoothing the ride further in April was the town’s second annual Pothole Palooza, deploying eight crews across the city with the ambitious goal of filling every pothole on every
street within just four days. More than 3,400 were filled during the inaugural 2024 event.
A “downtown” district south of West 92nd Avenue is bringing a new blend of mixed-use
development; the site of the former Westminster Mall is projected to have up to 3 million
square feet of office, 4,500 residents, 700,000 square feet of retail, more than 300 hotel rooms,
an entertainment district, and LEED Silver buildings. Development of Center Park there
began in May and is scheduled to be completed in late 2025; it is designed to be a venue for
entertainment and recreation, with flexible, multi-use spaces that support differing functions.
FOR SALE
OPEN
TAX
$529,000
MEDIAN HOME
SALE PRICE
2,396
NO. OF BUSINESSES
8.6% (Adams County)
8.35% (Jefferson County)
CITY, COUNTY,
STATE SALES TAX
44%
BACHELOR’S DEGREE
OR HIGHER
ONLINE RESOURCES
Westminster Chamber of Commerce
www.westminsterchamber.biz
Jamie Chavez, president & CEO
jamie@westminsterchamber.biz
City of Westminster
www.cityofwestminster.us
Nancy McNally, mayor
nmcnally@cityofwestminster.us
Jody Andrews, city manager
JAndrews@cityofwestminster.us
Westminster Economic Development
www.westminstereconomicdevelopment.org
Stephanie Troller, economic development director
stroller@westminsterco.gov
