A new report says visitors, not office workers, drive downtown Denver. Here's what the Council has been funding there

Downtown Denver's recovery depends less on getting office workers back than on bringing in visitors and residents, according to a new report by urbanist Richard Florida for the Downtown Denver Partnership, as described in a Westword column published Oct. 29.

The 51-page report, "The Next Era of Downtown Denver," was presented at an Oct. 15 event, the column said. Its main points, as summarized by Westword:

• Office vacancy isn't the only measure. Florida argues activity is a better gauge of downtown's health than empty offices.
• Visitors drive downtown. Visitors made up 67% of downtown activity in 2025, workers 20% and residents 13%.
• More residents are key. The report calls more people living downtown fundamental to the rebound.
• The Central Business District is the problem area. Of 12.2 million square feet of vacant space downtown, 11 million is in the part closest to Broadway.

Why it matters: the city is putting public money into downtown through the Downtown Development Authority, which uses growth in downtown tax revenue to pay for projects. Each of those deals comes to the City Council for a vote.

What our records add

The Council has approved several Downtown Development Authority deals this fall. All passed without a no vote.

120 affordable apartments in an old office building. On Oct. 5, the Council passed Council Bill 26-1336, a funding agreement for the University Building at 900-918 16th St., 12-0 (roll call). At the Governance Committee on Sept. 15, staff said the project would convert floors 2 through 12 into 120 apartments, all affordable to households earning 30% to 80% of the area median income. It is estimated at $73 million, with a $14.7 million authority loan, and is expected to open in early 2028 (video at 21:01). Council member Jamie Torres asked why the affordability covenant was 40 years and not longer (video at 35:34). Asked by Council President Diana Romero Campbell about unit sizes, presenters said the mix is 57 studios, 52 one-bedrooms and 11 two-bedrooms (video at 37:21).

Artist studios on 17th Street. On Oct. 13, the Council passed 26-1335, for the ground-floor corner space at the Midland building, 444 17th St., 11-0 with Stacie Gilmore absent (roll call). Staff said a nonprofit that buys space for artists would turn about 6,300 square feet of former bank space into affordable studios and galleries, with a grant of about $1.04 million, and would have to sell the property back for $1 if it stops operating (video at 23:05).

Lessons from a failed deal. At the same meeting, a Council member asked how the authority would avoid a repeat of the Denver Immersive Repertory Theatre, which had received authority money and never opened. Staff said the authority had paid out based on rent ledgers and expense records, should have confirmed payments directly with the landlord, and is auditing where the money went. New grants will be reimbursements with site inspections, staff said (video at 25:06).

The authority's map keeps growing. On Oct. 26, the Council gave final approval to 26-1429, the latest in a series of boundary changes to the authority's district this year. A new bill, 26-1646, would set up a custodial fund for loan repayments and interest the city collects for the authority.

Still to come. The Barth Hotel senior housing loan, 26-1608, was approved for filing by the Finance and Business Committee on Oct. 27. The agreement for 101 W. Colfax Ave., the old Denver Post building where the city wants Alterra to move, 26-1334, is still pending. See our story on the Alterra deal.

Westword's column also noted the city bought the Denver Pavilions on 16th Street last year for $37 million through the authority, and that a developer converting offices to housing has a $63 million loan from the authority.

What's next

• The Barth Hotel agreement and the custodial fund head to the full Council in the coming weeks.
• The Urban Land Institute's final recommendations for the Pavilions are still pending, according to Westword.