As part of the Downtown Denver tax increment financing (TIF) continuation, funds generated during the TIF period in excess of the original obligation have been designated for various improvements in and around downtown.
In 2013, the City of Denver requested that DURA leave the existing Downtown tax increment areas open until their final expiration and invest the funds in several projects poised to have a transformational impact on Denver. As part of this agreement, DURA has completed the management of three projects: 1860 Lincoln – DPS; 20th & Chestnut; and Union Station Parking Garage.
1860 Lincoln – DPS
Renovation of an existing 13-floor office building in downtown Denver that was constructed in 1962 by Denver Public Schools for the first downtown elementary school.
This renovation created a new interactive and integrated space to house 6,000 students and 1,000 employees at the Emily Griffith Technical College, Emily Griffith High School, the Downtown Denver Expeditionary School and most central administration functions of Denver Public Schools.
The office building in downtown Denver was constructed in 1962 and consisted of 13 floors, a mezzanine and two levels of underground parking with approximately 120 parking spaces. Renovations to the underutilized building have helped Denver reach a long-time goal of having a downtown public school.
In 2015, the building was included in the annual event Doors Open Denver, a two-day event that provides residents and visitors an opportunity to explore the city and see its unique spaces, and in 2017 was nominated for an Urban Land Institute Impact Award in the category of innovation.
20th & Chestnut
Construction of a five-story mixed-use development consisting of a King Soopers grocery store, additional retail space and apartments. DURA provided support for infrastructure improvements for parking.
The entire site is a five-story mixed-use development consisting of 307 apartments, 13,200-square-feet of retail space and a 46,475-square-foot King Soopers grocery store on the ground floor. Parking includes 477 spaces for the apartments and 86 free parking spaces for retail.
This project brought a much-awaited full-service grocery store downtown by building on an empty lot in downtown Denver. The grocery store is easily accessible for residents of Ballpark, LoDo, Central Platte Valley and Union Station neighborhoods.
Union Station Parking Garage
Construction of an underground parking garage with 100 public spaces available as part of a hotel, office and retail complex. DURA funding supported one additional level of parking.
This underground parking garage with room for more than 100 parking spaces is a great asset for the Denver metro area. Within the Downtown Urban Redevelopment Area, Denver’s Union Station Transit Center is a hub for locals and visitors alike. Block A sits directly on the platform that serves commuters traveling to and from Denver International Airport.
Featuring more than 300,000 square-feet of mixed-use space and located at the head of the commuter rail platform near 16th and Wewatta streets, Block A is the first thing visitors see when they step off the train. Passengers on the RTD Airport Line will be able to walk directly from the covered train canopy into the hotel and office buildings. The broader project includes a 12-story, 200-room hotel with meeting space and two restaurants; a 5-story building with 45,000 square-feet of office space and 11,000 square-feet of retail and restaurant space; and the 100-space underground parking garage.