Why Beyoncé is part of Denver's billion-dollar bond debate
Add Axios as your preferred source to
see more of our stories on Google.
Photo illustration: Natalie Peeples/Axios; Photos: Kevin Mazur/WireImage for Parkwood
Mayor Mike Johnston has a message for Denver voters: If his $950 million Vibrant Denver bond doesn't pass, there'll be no new park — and maybe no Beyoncé.
Why it matters: Johnston's ambitious bond proposal on the November ballot would help develop two of the city's largest projects — a new Denver Broncos stadium and the transformation of the long-fenced-off Park Hill Golf Course.
By the numbers: About $70 million from the bond is earmarked to convert the old course into Denver's largest new park in 120 years.
- Another $140 million would fund road and bridge upgrades around Burnham Yard, where the Broncos plan to build a new retractable-roof stadium.
What he's saying: "Beyoncé did not come to Denver" on her most recent tour, Johnston said Tuesday during an Axios Denver event. "You know why? Because Beyoncé does not play open-stadium concerts. She only plays in closed domes."
Reality check: The pop star has indeed performed in some open-air venues — like MetLife Stadium — so the mayor's not entirely right.
Yes, but: His broader point is valid. The city estimates the economic impact from the bond is $2 billion. But for Denver to draw major artists and sporting events, it needs a new stadium.
- "We can't develop anything here without managing the safety of the [surrounding] bridges," Johnston said, estimating about $20 million in environmental cleanup on the site would also be needed.
Zoom in: Another project that could be stalled, he said, is the redevelopment of the former Park Hill Golf Course, whose long-awaited land swap was finalized Tuesday. He warned the promised park could stay fenced and undeveloped without bond funding.
- There would be "no playgrounds … no dog park … no rec center," he said, "because that would not be something we have the budget for."
The other side: Opponents, including the Denver Republican Party, say the stakes aren't worth the splurge.
- "This just-under $1 billion bond is going to cost $2 billion out of all of our money" to repay, Denver GOP executive committee member Jimmy Smrz said at our event, citing long-term estimates from Johnston's financial director. "That's a billion dollars to bankers and bondholders that's not going into our neighborhoods."
- Smrz also pointed to the city's $200 million budget gap, arguing that Denver should start "taking accountability" before borrowing more.
What's next: Johnston is crisscrossing the city to sell the bond before election day on Nov. 4, when voters will decide whether they want a "vibrant Denver," a new park and, maybe one day, Beyoncé.