City OKs scaled-back redevelopment at 20th and Larimer; Denver Urban Renewal Authority cuts TIF commitment in half

Denver City Council on Sept. 8 approved an amended and restated urban redevelopment plan for the 20th & Larimer area in the Five Points/Rhino district after the project developer revised the scope to focus on adaptive reuse and retail while pausing immediate residential construction.

Tracy Huggins, executive director of the Denver Urban Renewal Authority (DURA), told council the project had initially been conceived in 2022 with housing and below-grade parking as core components. Due to market conditions, the developer EDENS proposed a revised first phase that emphasizes retail — including space for a grocer — adaptive reuse of existing Larimer Street buildings, office space and a public plaza, while postponing the residential phase until financing improves.

“The original TIF commitment of approximately $19,600,000 has been reduced to approximately $9,300,000,” Huggins said, noting that the revised assistance still aims to remedy blighting conditions and ready the site for future housing. Huggins said Denver Public Schools (DPS) will continue to receive prearranged payments derived from their mill levy as previously negotiated; DURA intends to continue those payments because EDENS has committed to build housing in a later phase.

The plan retains the urban renewal area boundaries and the 2047 termination date. EDENS has already undertaken some work on site, the urban renewal authority said: renovating the Volunteers of America headquarters and preparing a commissary kitchen and other infrastructure to support the nonprofit’s operations while preserving street‑level retail and facades along Larimer.

Council response and votes: The Denver Planning Board unanimously found the amended plan in conformance with the Comprehensive Plan 2040, Blueprint Denver and the Northeast Downtown Neighborhoods Plan. Council approved the amended and restated redevelopment plan; the roll call recorded 10 ayes, 2 nays.

Why it matters: The narrower initial phase reduces the city’s near-term TIF exposure while keeping plans for housing on the table when market conditions allow. The amended plan also preserves a 10,000-square-foot publicly accessible plaza and carries commitments for an affordable business incubator and deed‑restricted affordable units when the residential phase moves forward.

What happens next: DURA and EDENS will move forward with the retail and plaza work under the amended scope. DURA will continue to perform the required annual reporting, and EDENS said it will return to housing when financing and absorption allow. DPS will receive scheduled payments agreed to in the original plan.