Denver’s first $100 million in downtown grants unveiled for housing, business projects — and Civic Center

Ten projects in downtown Denver — ranging from office-to-housing conversions to business concepts — are set to get cash infusions as city leaders seek to bring foot traffic back to a struggling but vital part of the urban core.

The $100 million in awards announced Wednesday would come from the Downtown Development Authority, a voter-approved special taxing district that allows the city to use a portion of tax revenue generated downtown for projects in the area. The grants are the first ones announced that will make use of hundreds of millions of dollars under the expanded DDA.

The proposals still must win approval from the City Council.

“Our priority is to help bring projects to life that will bring thousands of people back to downtown — and will create new energy and new excitement for the people who live, work and play in Denver,” said Doug Tisdale, the chair of the DDA board, during a late-morning news conference in the McNichols Building in Civic Center Park.

The projects selected will support new housing, updates to downtown parks and more attainable retail space for local businesses.

The authority’s biggest cash infusion is set to be $30 million to “activate” Civic Center Park. That would mean new infrastructure, lighting, garden walkways and trees to improve the park as an amenity and make it more accessible, according to a news release from the mayor’s office.

Other projects selected include:

• $23 million for the DDA to purchase two parking lots on both sides of Glenarm Place at 15th Street, next to the Denver Pavilions. The lots will serve as short-term parking with revenue going back to the DDA, and the property could be redeveloped in the future.
• $31.5 million allotted to help finance two office-to-residential conversions in the Symes Building and the University Building, which are across Champa Street from each other on the 16th Street mall. Those conversions would produce 236 units combined, much of it restricted to residents who meet income limits.
• $7 million for the McNichols Building, where officials plan to renovate the ground floor and add an arts market and a restaurant with an outdoor patio.
• $5 million for improvements at Skyline Park, including accessibility, lighting, safety features and a new performance stage.
• $2.7 million to support Green Spaces Market, which offers more affordable retail options for local businesses, nonprofits and artists.
• Awards under $1 million each for the Denver Immersive Repertory Theater, Milk Tea People and Sundae Artisan Ice Cream.

The spending is intended to be more than just an effort to make Denverites pleased with their downtown, though. It’s a key element of the city’s plan to recover from its financial crisis.

Downtown activity, which once made up a significant portion of the city’s sales tax revenue, hasn’t recovered fully from the COVID-19 pandemic. As Denver stares down a $250 million budget shortfall over the next two years, officials are hoping to revitalize the budget books.

“We think it’s important not to stand still in these moments,” Denver Mayor Mike Johnston said.