Catalytic Downtown Investments Advanced by Downtown Development Authority Board

The Downtown Denver Partnership celebrates Mayor Mike Johnston and the Denver Downtown Development Authority (DDDA) Board's announcement today of $100M in approved DDDA funding for housing, business, redevelopment opportunity and park projects in Downtown Denver. The Downtown Development Authority, approved by voters in 2024, unlocked $570 million in funds that can be invested in downtown projects without raising taxes or impacting the City's budget. 

"The announcement of the first round of Denver Downtown Development Authority projects marks a pivotal moment for Downtown Denver, demonstrating the transformational power of strategic public investment," said Kourtny Garrett, President & CEO of the Downtown Denver Partnership. "This inaugural round represents more than any one individual development or entity – together, they are foundational to downtown's next chapter and will serve as proof of what's possible for our city as a whole when we invest in the future of Downtown Denver." 

The projects selected for funding in this round of DDA investment align with the Plan of Development, which was adopted following voter approval of the renewal and expansion of the DDDA, in four key areas that the Downtown Denver Partnership has long championed: 

1. Housing | Bringing on new, affordable housing with office to residential conversion 

2. Public Spaces | Investing in public parks and spaces that create more livable communities and attract visitors and events back downtown 

3. Business Support | Supporting local Denver businesses to open or expand retail space downtown 

4. Activation | Activating downtown by supporting large events, art, and family-friendly activities 

“Downtown Denver is the heartbeat of our city and the core of our economic growth, and supporting it’s revitalization with funding from the DDA is key to our success as a city,” said Mayor Mike Johnston. “These projects that the DDA approved today are exactly where we should be focusing: housing, new activations that bring people and events back downtown, and local business support that will transform our city center into not just a central business district, but a central neighborhood district for everyone to come and enjoy.” 

Today's approval of this next package of transformational projects downtown demonstrates the continued commitment to our shared vision for a thriving urban core.  

Business Support:

• $2.7M investment in new downtown retail space for Green Spaces Market, which provides affordable retail and business space for local artists, non-profits, and small businesses 

• $400,000 to renovate space for the Denver Immersive Repertory Theater, the world’s first resident immersive, theatrical production studio and venue

• $640,000 to expand and relocate Milk Tea People, helping the recently ranked “Best Tea Shop in Denver” move to a larger and more visible location along 16th Street

• $750,000 to expand Sundae Artisan Ice Cream’s flagship store on Glenarm, which will create a unique, interactive ice cream experience, complete with “Create Your Own Pint” classes

Housing 

• Two office-to-residential conversions will bring 236 new units of housing in the downtown core – including units which will be affordable to working Denverites making between $29,450 and $72,950 per year, or 30 - 80% Area Median Income: 

  • $17M to help finance an office-to-residential conversion of the historic Symes Building, unlocking 116 units of new housing, improved ground-floor retail space, and a new outdoor patio  

  • $14.5M toward an office-to-residential conversion of the historic University Building, unlocking 120 units of mixed-income housing 

Redevelopment Opportunities 

• $23M for the DDA to purchase the two parking lots on both sides of Glenarm Place at the Denver Pavilions block on 15th Street, offering significant mixed use private redevelopment opportunities between 15th and 16th Street.  Acquisition also includes significant parking revenues and opportunities to address affordable parking along 16th Street.      

Public Spaces 

• $5M to improve and activate Skyline Park, making improvements in accessibility, lighting, safety features, and activation areas like the performance stage and concessions building 

• $7M to reimagine the McNichols Building, renovating the ground floor to create outdoor garden dining spaces, a full-service kitchen, and an arts marketplace to further activate Civic Center Park as a destination for visitors to Downtown.   

• $30M to activate Civic Center Park, working to make the park more accessible and a true neighborhood asset by investing in new infrastructure, lighting, garden walkways, and tree canopy.  The Civic Center Conservancy is committed to raising private funds to assist DDA and potentially reduce DDA’s investment in the park. 

Projects with proposed funding over $500,000 will next seek final approval from Denver City Council. To read more about the Denver Downtown Development Authority, visit denvergov.org/DDDA.