Denver announces $100 million in downtown revitalization grants

A total of ten projects in downtown Denver are set to receive funding in an effort to bring foot traffic back to the struggling urban core. These projects range from office-to-housing conversions to new business concepts and aim to revitalize the area.

The Downtown Development Authority, a special taxing district approved by voters, will provide around $100 million in funding for these projects. This funding comes from tax revenue generated downtown and is part of the expanded DDA’s efforts to support downtown development.

City Council approval is still required for the selected proposals, which aim to attract thousands of people back to downtown Denver and create a renewed sense of energy and excitement for residents, workers, and visitors.

The projects cover a variety of areas, including new housing, park updates, and more accessible retail space for local businesses. The largest funding allocation of $30 million is designated for revitalizing Civic Center park with new infrastructure, lighting, and amenities.

Other projects include purchasing parking lots near the Denver Pavilions, financing office-to-residential conversions, renovating the McNichols Building, improving Skyline Park, and supporting local businesses through Green Spaces Market.

These investments are not only aimed at enhancing the downtown area but also play a crucial role in Denver’s economic recovery plan. The city is facing a significant budget shortfall and hopes that revitalizing downtown will help boost sales tax revenue.

Mayor Mike Johnston emphasized the importance of taking action to transform downtown into a more vibrant neighborhood. Most of the projects are expected to begin within the next year, with ongoing efforts to improve public safety and support further revitalization initiatives.