Denver leaders are betting on a fresh vision for the city’s core after a string of national headlines painted the downtown area as struggling. In a 51‑page study commissioned by the Downtown Denver Partnership, urban economist Richard Florida argues that the current office vacancy crisis can be turned into an opportunity for new housing, mixed‑use districts and a stronger local economy.

Local experts see a path forward

Florida, known for his “Creative Class” theory, spent the past 18 months consulting for the nonprofit Downtown Denver Partnership. He told Denverite that the media has “unreasonably impugned” the city’s downtown, but that the challenges are manageable. “Denver is a great place. It’s beautiful, it has a great climate and a world‑class airport,” he said.

The report compares today’s office‑building surplus to the industrial decline of the 1970s, noting that former factories were eventually repurposed into vibrant neighborhoods. While office towers are more complex to convert, Florida believes the market’s downturn creates space for innovative uses, from boutique hotels to affordable housing.

Mayor’s $500 million plan backs the vision

Mayor Mike Johnston has already pledged a tax‑backed investment package exceeding $500 million to spur downtown growth. The plan includes new sports venues, streetscape improvements along Speer Boulevard and a $2.5 million marketing campaign aimed at attracting visitors and residents alike.

One of the report’s key metrics is foot traffic, which Florida says has rebounded to roughly 90 % of pre‑pandemic levels. He argues that success should be measured not only by office occupancy but by the overall number of people living, working and recreating in the central business district.

From “SoHo moment” to a diversified downtown

Florida likens the future downtown to New York’s SoHo and TriBeCa neighborhoods—once warehouses, now mixed‑use hubs of culture, nightlife and residential life. He envisions a mosaic of micro‑districts, each with its own identity, ranging from outdoor recreation to innovation labs.

The city’s long‑term goal is to double downtown’s residential population to about 70,000 within the next two decades. That ambition aligns with the Downtown Development Authority’s broader strategy to create more housing, attract startups and diversify the local tax base.

Challenges and realistic expectations

Converting high‑rise office towers into housing is more costly than repurposing older warehouses, and a decline in property values could strain the city’s budget. Some developers, like Asher Luzzatto, are pursuing aggressive purchases of downtown towers at reduced prices, hoping to unlock new uses.

Kourtny Garrett, president and CEO of the Downtown Denver Partnership, cautions that Denver is not alone in facing an overbuilt office market that dates back to the late 1970s and early 1980s. She notes that the city’s rapid growth for two‑plus decades before the pandemic made it a “nation’s darling,” and that the current slowdown is part of a broader national trend.

What’s next for the city?

City officials hope the Florida report will inspire confidence among investors, residents and visitors. By emphasizing a diversified, people‑centric downtown, Denver aims to shift the narrative from “emptiest downtown” to a thriving, adaptable urban center.

Community members are invited to share their thoughts on the report, signaling a collaborative approach to shaping Denver’s future.

Original reporting: Denverite — read the source article.