Tall & Urban News

Denver Initiative for $500 Million to Help Revitalize Downtown

Downtown Denver. Photo by Acton Crawford on Unsplash
Downtown Denver. Photo by Acton Crawford on Unsplash
10 May 2024 | Denver, United States

In a landmark announcement, the Downtown Denver Partnership, in collaboration with Mayor Mike Johnston and the City and County of Denver, has revealed a groundbreaking initiative aimed at revitalizing Downtown Denver. This transformative investment seeks to restore vibrancy, expand economic opportunities, and enhance the overall appeal of the city center.

As part of the initiative, Mayor Johnston and the City will work to update and expand the existing DDA through consultations with local communities and businesses. This collaborative process will inform a comprehensive Plan of Development, which will be submitted for City Council approval. Once expanded, the DDA is projected to make over $500 million available for investment within the proposed expansion area downtown, with funding becoming available as early as 2025.

At the heart of this initiative is a new funding stream, facilitated by the Downtown Development Authority (DDA), which spearheaded the acclaimed redevelopment of Denver Union Station. This funding will be instrumental in unlocking more housing options, creating inviting public spaces, and attracting world-class businesses to Downtown Denver.

Kourtny Garrett, President & CEO of the Downtown Denver Partnership, hailed the announcement as a historic moment for the city. She emphasized the DDA's track record of delivering significant returns on investments and expressed confidence in the transformative impact of this new funding mechanism.

Mayor Johnston echoed Garrett's sentiments, emphasizing the importance of restoring downtown and fostering a more vibrant urban core. He underscored the collaborative efforts between residents, businesses, and city officials in realizing this shared vision for Downtown Denver's future.

The initiative represents a bold commitment and reaffirms the city's position as a dynamic and thriving urban center. 

Learn more at Denver Downtown.