Alterra to anchor Denver's outdoor industry push
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The gondola at Winter Park. Photo: Andy Cross/MediaNews Group/The Denver Post via Getty Images
Mayor Mike Johnston stood inside the former Denver Post building beaming Thursday as he announced that Alterra Mountain Co. will relocate its headquarters from RiNo to downtown.
Why it matters: The move — just under 3 miles — keeps a major employer in Denver while delivering a win for Johnston's plan to revitalize the city's core.
State of play: Alterra, the company behind the popular Ikon multi-resort season pass, will anchor a planned hub for outdoor recreational businesses.
- The company will require employees to work from the office at least three days a week, Denver Downtown Development Authority board chair Doug Tisdale said Thursday.
- The move mirrors Johnston's three-day mandate for city staff.
Gov. Jared Polis — who joked he owns a rival Epic Pass — touted the state's $18 billion outdoor industry, adding Colorado was one of the first states to create an outdoor recreation office.
What they're saying: Extensive renovations to 16th Street Mall and expected revamps to Civic Center Park and the McNichols Building were draws for Alterra, given its access to those amenities, officials said.
- Ikon Pass president David Flueck said the company is "thrilled" to relocate to the "iconic building."
The company's Colorado properties include Arapahoe Basin and Steamboat. It also operates Winter Park, which the city of Denver owns.
Follow the money: The Downtown Development Authority approved a loan worth up to $7 million for Alterra's move, supplemented by state and local incentives.
- The state kicked in $1.9 million in tax credits tied to the creation of up to 106 new jobs over eight years, plus a $1 million zero-interest loan and a $1 million grant to recruit more outdoor companies.
- Denver added a $485,000 grant and $500,000 for workforce development.
- The 12-year lease is expected to generate about $15 million for the city, Johnston said.
Reality check: Alterra's move is a win for downtown but a loss for RiNo.
- Johnston said the company — which considered an out-of-state relocation to Salt Lake City — had options, including staying in RiNo.
Ultimately, Upper Downtown's vision was the most compelling.
- "We'll always work with partners to find neighborhoods that work best for them," Johnston said.
The RiNo Business Improvement District didn't immediately respond to an email asking for comment.
What's next: The city anticipates Alterra's new lease to start in late 2027, pending council approval.
- The company plans to renovate the two floors it will occupy and work to revive the "news ticker" around the building to display snow reports.