DENVER -- In spite of uncertain economic times some construction projects are moving forward as planned.

At 8th and Colorado, the beloved Annie’s Café Restaurant has been torn down to make way for an extended stay hotel

The developer, Charlie Biederman told 7NEWS that by the time the construction is complete in 14 months, the economy may have turned around and he wants to be in front of it.

Across the street, the old University Hospital complex is the site of another multimillion dollar project.

Shea Developers is calling it Denver’s next great neighborhood.

It will provide a mix of residential, business and retail space.

Shea takes over the now empty campus in February and last week, even after the economic problems became evident, developers told the city they plan to begin demolition immediately.

Property owner Tara Vega calls the project exciting.

“I’m hoping it will bring property values up. We will see what happens, “she said.

Neighbor Anna Baron hopes it succeeds, but has concerns.

“I’m a little ambivalent”, she said. “It seems like a luxury to be pushing for new retail when people can’t afford to pay the rent and buy food."