Denver approves $40 million fund to boost downtown job growth

The Denver Downtown Development Authority (DDDA) has announced a new package of investments designed to tackle commercial vacancies, accelerate job growth and breathe fresh cultural energy into the city center.

The initiatives target key areas of economic development, from real estate reactivation to small-business support. Leading the charge is a newly authorized job creation and reinvestment fund, which will earmark up to $40 million to invest in businesses that expand downtown’s workforce and strengthen its innovation ecosystem.

“If you can dream it, you can do it in downtown Denver,” Mayor Mike Johnston said in a statement. “These initiatives get to the heart of what we want for the heart of our city: more jobs, more innovation and more reasons for people to come live, work and play downtown.”

Part of the revitalization strategy is approval of $4.5 million in funding to establish a regional innovation and entrepreneurship hub at Independence Plaza, 1050 17^th St.

The University of Colorado Denver is under contract to purchase the building. Once the deal closes, the funds will help build out a 30,000-square-foot collaborative hub in partnership with Denver Economic Development and Opportunity.

The DDDA board also signaled support for an additional $8.5 million for future tenant improvements, including first-floor food and beverage operators and 16^th Street plaza activations.

The package leverages the creative economy to combat street-level retail vacancies. The DDDA approved a $1.35 million grant to the Community Arts Stabilization Trust (CAST) to acquire and convert a vacant 6,300-square-foot space at 444 17^th St. into permanent, affordable artist studios, gallery space and an independent microcinema.

“By partnering with powerhouse entities like the University of Colorado Denver and the Community Arts Stabilization Trust, the DDDA is turning vacant spaces into bustling centers of job growth and artistic expression,” DDDA board Chair Doug Tisdale said. “These are the exact types of high-impact, taxpayer-friendly investments that will define the next great era of downtown Denver.”

The board also approved a service agreement to install a new mural by local artist Olive Moya at the Denver Pavilions – the multiblock property acquired by the DDDA in late 2025.

With the new investments, the DDDA has now approved over $266 in support for new retail and entertainment destinations downtown, parks and public spaces, housing at a range of price points, job creation and acquisitions for future redevelopment opportunities.