Key Funding Agreements for 16th Street Mall Reconstruction Approved
On Monday, July 22, Denver City Council passed three key funding agreements related to the upcoming reconstruction of the 16th Street Mall. Agreements with the Regional Transportation District (RTD), Denver Water, and the Denver Urban Renewal Authority (DURA) (bills 20-0560, 0561, and 0562, respectively) were approved, a critical step toward realizing the project. The intergovernmental agreements with RTD and Denver Water passed without opposition and the DURA funding agreement passed 11 – 1.
The reconstruction project will, first and foremost, address infrastructure repairs critical to the Mall’s basic function and will also allow for public space-public life upgrades that will make the Mall an even more welcoming, inclusive gathering place.
“As a project partner alongside the City of Denver and RTD, the Downtown Denver Partnership is deeply committed to a vibrant, economically vital future for the 16th Street Mall and as such, we believe deeply in the importance of continued investment in this space,” said Tami Door, President and CEO of the Downtown Denver Partnership, “We thank Denver City Council for their commitment to this project and look forward continuing to drive this important project forward.”
The 2007 Downtown Area Plan — the 20-year strategic guiding vision for a livable, healthy, economically vibrant downtown developed by the City and County of Denver, the Downtown Denver Partnership, and the Downtown Denver Business Improvement District — identifies the 16th Street Mall as the premier pedestrian environment in the Rocky Mountain Region, an economic engine of Downtown Denver and linchpin for RTD’s regional transit network.
The downtown economy – and Denver’s economy as a whole – rely on the 16th Street Mall as a key economic driver and important main street for the region. Over 100,000 people work within 2 blocks of 16th Street – making up two-third of the total downtown employee base. And – home to nearly 200 retailers and restaurants, including more than 40 sidewalk cafes, the 16th Street Mall is a critical economic engine for the city, generating nearly 25 percent of the total sales tax generated in Downtown Denver — a total of $14 million each year. Furthermore, the Mall generates $46 million annually in property tax – 65% of which goes to Denver Public Schools.
To learn more about the 16th Street Mall and the efforts of the Downtown Denver Partnership and the Downtown Denver Business Improvement District (BID) to ensure the vibrancy and economic vitality of this premier public space, click here.