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In 2007, the Denver Urban Renewal Authority (DURA), began its 50th year as Denver’s redevelopment agency charged with the task of revitalization, economic development, home ownership and housing rehabilitation. Although citywide in scope, DURA’s programs have left perhaps their most lasting impressions on the face of Downtown Denver.
Many would be surprised to learn of the behind-the-scenes efforts made by DURA which ultimately led to widely acclaimed, high profile redevelopments including the Pepsi Center, the Denver Dry Building, the Magnolia Hotel building, the Boston Lofts, the new Elitch Gardens amusement park, the Adam’s Mark Hotel (now the Sheraton Denver), Mercantile Square, Denver Pavilions, the Bank Lofts and the Lowenstein Complex.
DURA does not operate in a vacuum. Partnerships with public and private sectors, as well as community groups, are a core tenet of this organization. Master plans created by myriad interest groups are frequently consulted so as to capitalize on collective visions for urban areas.
DURA’s funding is generated through the projects it enables. In its 50 years, the organization has never had a bond or project fail. Its stewardship, through the use of Tax Increment Financing (TIF), has financed some of the most blighted and environmentally or economically challenging projects in the city, generally stepping in when funding was not available to move the project from the drawing board to development.
Civic entrepreneurship is something many aspire to, and few execute. DURA, however, manages this process gracefully, and often quietly, through creative redevelopment of areas others have simply dismissed as irreparable or impossible to finance. Its contributions have had a significant impact on the successful transformation of Downtown Denver into a vibrant and thriving city.
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