Denver to invest $570M in downtown revitalization after voters pass bond measure
Like many communities, Denver has seen a slow post-pandemic recovery in its downtown, the city said in a press release. Foot traffic is 67% of 2019 numbers, and more than 13 million square feet of office and retail space is vacant, according to an October report by the Common Sense Institute, a Colorado-based research organization. Denver’s downtown revitalization plan involves expanding the Downtown Development Authority, a body that allows the city to use some of the incremental taxes collected in its central business district to reinvest in that area. Currently, the authority covers the area of Union Station and Market Street Station, but it wants to expand to a much larger swath of the city center.