Downtown Denver's struggles aren't easing up
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Construction on the 16th Street Mall. Photo: Hyoung Chang/The Denver Post via Getty Images
Larimer Square and the 16th Street Mall — two of downtown Denver's most iconic destinations — face an uncertain future.
Why it matters: The success of its top two tourist attractions will be key to reviving the area, which remains struggling to rebound from the pandemic amid high vacancy rates.
What's happening: Larimer Square has changed dramatically since North Carolina-based private equity firm Asana Partners bought the historic shopping and dining district in December 2020 from its longtime owner.
- As Asana has infused millions to restore the block's crumbling facade, numerous established tenants have been pushed out due to intensive construction.
- Others have moved out on their own. Some cite tension with their new landlord over a lack of communication and transparency about ongoing construction, as well as slumping sales from low foot traffic.
What they're saying: Robb Horen — who has owned a small business on the block since 2006 — told Axios Denver he has "zero information" about Asana's development plans.
- Under Larimer Square's previous ownership, "I was accustomed to being able to walk down the street and be face-to-face with ownership and management. And now it's like I mail a check," Horen said.
- Asana declined an interview with Axios Denver, but said in a statement it has "worked diligently with community stakeholders" and "will be announcing multiple new retailers and restaurants later this year," including local businesses.
Zoom out: Just two blocks away on the 16th Street Mall, businesses are also struggling to survive. Much of the 17.5-block strip is unrecognizable amid a major infrastructure overhaul that's fallen behind schedule.
- The completion date of the roughly $173 million renovation project has been pushed until the fall of 2025 — nearly a year later than expected, city officials quietly announced in July, the Denver Post reports.
- Much of the delays have been due to unforeseen complications related to an active brick-lined storm sewer under the mall, per the Post.
What to watch: Mayor Mike Johnston has pledged roughly $60 million in his 2024 budget to revitalize downtown, including direct support for businesses negatively affected by construction on the mall.
- In October, he also announced a $350,000 grant program to bring special events to the area to boost visitor traffic.