Capital Development Committee

Friday, February 6, 2026·25m·▶ Watch / Listen

The Capital Development Committee took a briefing on the aging Centennial Building at 1313 Sherman, where state officials laid out a bind: a $120 million office renovation nobody wants, a housing conversion that pencils out only with heavy state subsidy, and a carrying cost of $1.45 million a year to hold an all-but-empty tower. No recommendation, and no vote — the department is waiting on an appraisal.

Key Actions

·Centennial Building (1313 Sherman) feasibility studyAction

Notable Quotes

“Right now, the downtown Denver office market stands at a historic 39% vacancy rate.”
Mr. Kennedy, Real Estate Director, Department of Personnel Administration · witness — The vacancy figure underpins the department's argument that there is no market appetite to justify investing in the building as office space.

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TranscriptPreview

Capital Development Committee will come to order. Mr. Pogue, please call the roll. Senator Henrickson, Representative Lindsey. Here. Senator Pelton. Excused. Representatives Winter. Excused. Story. Here. Mr. Chair. Here. Members, we have Department of Personnel Administration here to give us a presentation. Who wants to start us off? Go ahead, just introduce yourself and start us off. Yes. Thank you Mr. Chair. Members of the committee, my name is Tobin Fallen Wider. I'm the the Deputy Director of Operations for the Department of Personnel Administration. Thank you for having us present today about the capital complex renovation projects and specifically about the cap Centennial building feasibility study update. So I'll start with the next slide. I'm going to run through some context slides. It's really just an update that I think you regularly receive about capital complex renovation projects. But just to sort of remind the committee, Capital Congress renovation was authorized by two senate bills. The goal was to address many of the deferred maintenance issues on the our buildings and outdated tenant space. So the plan was to renovate three buildings, the Annex 1570 grant in Centennial as well as some restoration and upgrade projects for the capital.…

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