Colorado
RSL Falls 3-2 at Colorado in Rocky Mountain Cup Finale | Real Salt Lake
COMMERCE CITY, Colorado (Sat, July 20, 2024) – Real Salt Lake (12-5-8 / 44 points / 3rd West) fell to regional rival Colorado Rapids 3-2, losing control of the Rocky Mountain Cup in a non-Covid year for the first time since 2015. RSL winger Andrés Gómez scored his 12th and 13th goals of the year, his fourth multi-goal game of the season, to move into a tie for fifth in the MLS Golden Boot race.
Kicking off for the first 45 on a rainy night at Dick’s Sporting Goods Park, Real Salt Lake came out flying, thoroughly controlling play as it broke through to take an early lead in the 9th minute. Seeming as though the Claret-and-Cobalt might cruise to a 15th Rocky Mountain Cup victory, the tables quickly turned as it would be Colorado that scored in lightning-quick back-to-back fashion in the 34th and 39th minutes to seize control of the Cup, Jonathan Lewis and Sam Vines the scorers. Heading into the locker room, Pablo Mastroeni’s side was dominant in every statistic except the scoreline, owning more than two-thirds of possession and more than doubling Colorado in passing (359-147).
During the halftime break, lightning strikes in the area postponed play for nearly two hours before play resumed at 10:21 p.m. local time.
It wouldn’t take long for RSL to square the affair in the second half, Gómez collecting his 13th of the 2024 campaign and second of the match with a beautiful left-footed strike in the 49th minute. Gómez’ outside-the-box strike continues his nearly unbelievable run of form, marking his 13th goal in the last 140 days after he scored just once in his first calendar year with the Club. The match would remain on equal footing, both teams struggling through adverse conditions until Colorado won a late penalty kick on a controversial handball call in the 85th minute, Cole Bassett stepping up to convert the chance and give his team the decisive 3-2 lead.
Despite the scoreline, RSL dominated the run of play, boasting 62% of the possession and nearly doubling Colorado in passes completed (609-327). Nine RSL players registered at least 30 passes, Justen Glad leading the way in volume with a staggering 99 while Braian Ojeda and Bryan Oviedo led in accuracy at 95% and 92%, respectively.
The loss gives Colorado its first Rocky Mountain Cup title since the disputed 2020 affair, just its sixth in the 20-year history of the rivalry. RSL still holds a commanding lead in the all-time Cup standings, winning 14 total and six of the last eight. A bright spot for RSL, Glad made his first start since June 1, returning from a six-week injury hiatus, playing the full 90 minutes. Additionally, Real Salt Lake fans got their first look at attacking midfielder Benji Michel, the 26-year-old former U.S. youth international making his Club debut after being signed earlier this week. Michel most recently played for Portuguese side Arouca and previously made 119 appearances across all competitions, scoring 19 goals and nine assists for Orlando City FC from 2019-2022.
RSL – 9’ – Andrés Gómez (Bryan Oviedo): With RSL pressing as Colorado possessed the ball deep in its defensive third, a clever intervention by Oviedo sent it to Gómez in the middle of the park with only green grass ahead of him. Immediately sprinting forward with Anderson Julio stretching out the back line, Gómez took two touches before launching a low, bouncing rocket at Colorado goalkeeper Zack Steffen’s near post, the technique and power of his right-footed shot proving too much as it whistled into the back of the net.
COL – 34’ – Jonathan Lewis (Cole Bassett, Rafael Navarro): Controlling it deep in Rapids territory, Moïse Bombito spotted the run of Rafael Navarro into the attacking third and played a well-aimed through-ball sending his striker to the right corner of the box. Defended well by Glad, Navarro passed centrally to Cole Bassett who immediately switched play to the left side of the box with a one-time lofted pass over the last RSL defender. Running onto it with his preferred right foot, Jonathan Lewis caught it cleanly on the half-volley to deposit the near post finish and steal one back against the run of play.
COL – 39’ – Sam Vines (Jonathan Lewis, Cole Bassett): As RSL controlled it on the edge of their own box, Sam Vines cleverly jumped a passing lane to intercept the ball and start a quick counter attack. Vines’ intervention sent it to Bassett who then forwarded possession to Lewis as he charged deep into the right side of the box. Racing to the end line, Lewis whipped a low pass across the face of the goal as Vines, following the play after starting it himself, smashed the point-blank finish into the roof of the net.
RSL – 49’ – Andrés Gómez (Anderson Julio, Emeka Eneli): As Real Salt Lake began their buildup, Emeka Eneli received the ball in his own half and charged forward at a rapid pace. Dribbling through two defenders, Eneli laid it off to Julio at the top of the box. Julio held up the ball, drawing multiple defenders before passing to Gomez on the right side of the box. Presenting that he would take his touch further into the box, Gomez’s touch stopped the ball in place as his marker went flying by. Turning around centrally to get back on the ball, Gomez took two quick dribbles before unleashing a left-footed laser that curled perfectly over a helpless Steffen and into the top corner netting at the far post.
COL – 89’ – Cole Bassett (Penalty Kick): As the game trended towards a draw and a fourth consecutive Rocky Mountain Cup for RSL with less than 10 minutes to play, Colorado came forward to win an 85th-minute corner. Whipping it into the traffic of the box, Glad was called for a handball, awarding the Rapids a late penalty kick. Bassett stepping up to take it, he sent GK Gavin Beavers the wrong way with a powerful shot to the left.
- Andrés Gómez scores his 12th and 13th goals of the year to collect his fourth multi-goal game of 2024 and move into a tie for 5th place in the MLS Golden Boot Race, just five goals behind current leader and teammate, Captain Chicho Arango (17).
- First-time All-Star, homegrown center back Justen Glad made his first start since June 1, playing the full 90 minutes after his return Wednesday at LAFC for one official minute following a six-match injury absence.
- RSL dropped to third place in the Western Conference standings, trailing LA Galaxy and LAFC by five and three points, respectively. The four days since Wednesday’s draw to LAFC are the first period that RSL has not been in first place in the Western Conference since mid-March.
- RSL faces defeat for just the second time on the road since the season opener against Inter Miami (Feb. 21, 0-2). The loss brings RSL’s record away from home to a still-impressive 4-3-7. Despite the Club’s -4 goal differential over the last four games, RSL remains second in the West at +17., trailing only LAFC (+18).
- First-time All-Star and homegrown defender Justen Glad made his return to the starting lineup for the first time since June 1, playing the full 90. He led the match with 99 completed passes, a season high for him, at a staggering 92% completion rate.
- Newly signed RSL attacking midfielder Benji Michel made his debut, coming on in the 74th minute. The 26-year-old former U.S. youth international most recently played for Portuguese side Arouca and previously made 119 appearances across all competitions, scoring 19 goals and tallying nine assists for Orlando City FC from 2019-2022.
Real Salt Lake (4-2-3-1): Gavin Beavers; Justen Glad; Bryana Vera; Andrew Brody (Bode Hidalgo, 62’); Bryan Oviedo (Alex Katranis, 62’); Emeka Eneli; Braian Ojeda (Nelson Palacio, 62’); Andrés Gómez; Diego Luna; Matt Crooks; Anderson Julio (Benji Michel, 75’)
Subs not used: Zac MacMath, Maikel Chang, Philip Quinton, Noel Caliskan, Matthew Bell
Colorado Rapids (4-2-3-1): Zack Steffen; Moïse Bombito; Andreas Maxsø; Keegan Rosenberry; Sam Vines; Connor Ronan; Oliver Larraz (Darren Yapi, 65’); Omir Fernández (Calvin Harris, 65’); Jonathan Lewis (Kimani Stewart-Baynes, 78’); Cole Bassett; Rafael Navarro (Jasper Löffelsend, 89’)
Subs not used: Michael Edwards, Lalas Abubakar, Sebastian Anderson, Ethan Bandre, Wayne Frederick
COL: Moïse Bombito (Caution, 23’)
COL: Darren Yapi (Caution, 74’)
RSL: Diego Luna (Caution, 88’)
RSL: HC Pablo Mastroeni (Caution, 88’)
Colorado
Colorado Parks and Wildlife kills ‘elusive’ wolf tied to attacks on at least 22 sheep since 2025
Colorado Parks and Wildlife killed an uncollared wolf on Friday in Routt County. The wolf — which was born to the Copper Creek Pack in spring 2024, but separated from the pack that fall — has been tied to 10 confirmed depredation events involving 22 sheep in both Rio Blanco and Routt counties since 2025.
Parks and Wildlife has made multiple unsuccessful attempts to kill this wolf after it has repeatedly attacked livestock, including an attempt last August where the wolf was shot.
In a Saturday news release, the state wildlife agency announced that it killed the wolf and obtained evidence from the scene that it’s the same wolf that was attacking and killing sheep in Rio Blanco County starting in 2025.
Parks and Wildlife said the wolf was most recently tied to two confirmed attacks on livestock in Routt County on Wednesday and Thursday, each involving one lamb.
The news release confirmed that both events had “clear and convincing evidence” that a wolf was involved in the attacks and occurred despite “the producer pursuing substantial non-lethal conflict minimization efforts,” including site assessments, deployment of range riders, use of livestock guardian dogs and scare devices, active human presence from sheep herders, and permits to deploy injurious nonlethal hazing techniques.
“The decision to pursue lethal actions is never an easy one, but the circumstances around this wolf’s repeated depredation history made this a difficult but necessary decision,” said Laura Clellan, director of Parks and Wildlife, in a statement. “The producers impacted by these depredations have worked diligently with CPW to identify and deploy all viable and reasonable non-lethal tools and techniques identified through their site assessment and consultation with our field staff.”
Parks and Wildlife consulted with the U.S. Fish and Wildlife Service on the decision to kill the wolf.
Colorado’s wildlife agency is authorized to kill wolves under certain circumstances, including chronic depredation, under its special 10(j) rule from Fish and Wildlife. Under this rule, the agency has 30 days to remove the animal if warranted. In addition to meeting the definition of chronic depredation, the agency will only seek to euthanize a wolf if a variety of nonlethal tools have been used to mitigate conflict, the wolf was not lured or baited and if it is likely attacks will continue unless action is taken.
The uncollared wolf was first tied to four livestock attacks in the summer of 2025, involving five lambs and one ewe, on July 20, July 22, Aug. 2 and Aug. 16.
As the situation met Parks and Wildlife’s definition of chronic depredation — and there were efforts by the affected producer to deploy nonlethal tools — the agency sought to kill the wolf. In the August search, the wolf was shot, but the body was never located.
In the fall, an uncollared wolf was tied to confirmed depredations on Oct. 9, Oct. 12 and Nov. 4 — each involving one sheep. While the agency never publicly announced it was undergoing a lethal removal effort following these attacks, the Coloradoan obtained records from the agency and reported that Parks and Wildlife attempted an operation to kill the responsible wolf in November, but that the effort was suspended by early December.
In March, it announced that it was suspending another failed attempt to locate and kill the uncollared wolf killing livestock in Rio Blanco County.
This is the second wolf that Parks and Wildlife has lethally removed due to conflict with livestock since Colorado’s reintroduction of gray wolves began in December 2023. The agency killed a yearling from the same Copper Creek Pack litter in May 2025 in Pitkin County after the pack was connected to a series of livestock attacks.
The uncollared wolf killed this Friday has been separated from the Copper Creek Pack since September 2024, when the pack’s breeding adults and four other wolf pups were captured and sent to a wildlife sanctuary, but it remained in the wild uncaptured. The pack was rounded up in Grand County after being tied to repeated livestock attacks near their den site. While the patriarch died in captivity from injuries caused by a gunshot wound before its capture, the surviving matriarch and pups were released back into the wild in January 2025.
In addition to the two lethal removals, 13 of the 25 wolves reintroduced in Colorado have died.
Parks and Wildlife’s Saturday news release included a statement from Gov. Jared Polis — the first time the governor has made a statement following a wolf death.
“This elusive wolf had a number of chances but sadly chose to continue to depredate, which necessitated this challenging management decision,” he said. “Colorado remains committed to recovering and maintaining a viable, self-sustaining wolf population in Colorado, while concurrently working to minimize wolf-related conflicts with domestic animals, with non-lethal means as our priority.”
Parks and Wildlife said it will release a final report on the lethal removal operation once it is complete.
Colorado
New charges for Colorado woman who allegedly violated protection orders from jail
Investigators in Weld County filed new charges last week against a woman who reportedly made 136 phone calls to the victims of her previous crimes from the jail’s phones.
Forty-year-old Amy Marcovich violated a court-ordered protection orders by reaching out to those victims, the Weld County Sheriff’s Office stated.
One of the jail’s deputies first reported a potential violation by Marcovich on June 4, according to the sheriff’s office. The subsequent investigation accuses Marcovich of making a total of 136 calls between March 19 and June 5 while in the jail’s custody. Those calls were allegedly made to two victims who were granted no contact protection orders.
In addition to the two counts of protection order violations, the sheriff’s office also filed stalking and harassment charges against Marcovich on Wednesday. She is expected in court in this new case on Monday.
Marcovich has been jailed since March 19 for an alleged burglary that occurred four days earlier, according to online court records. She is charged with a felony in that case. Marcovich also has an active misdemeanor trespassing case. Court records show that offense occurred two days after the alleged burglary.
CBS Colorado is attempting to learn whether those two incidents involve the same property or separate ones.
The judge in Marcovich’s burglary case ordered a competency evaluation on Thursday.
Colorado
What the heck is happening in downtown Denver?
Downtown Denver’s commercial real estate market is in distress.
A lone pedestrian hustles across Broadway near the normally bustling Civic Center Station in downtown Denver on March 21, 2020. (Eric Lubbers, The Colorado Sun)
The area has some of the country’s highest office vacancy rates, flat rents and dozens of buildings in or facing foreclosure.
A vacant storefront advertised for lease near 17th and Champa streets on June 5. (Andy Colwell, Special to The Colorado Sun)
But the area’s downturn has turned it into a potential gold mine for investors …
Plant care specialist Tina Webber waters plants for her employer, Ambius, outside the Sheraton Hotel on 16th Street (Andy Colwell, Special to The Colorado Sun)
… including the city of Denver itself.
The center of the Denver Pavilions on June 5. (Andy Colwell, Special to The Colorado Sun)
That was the thinking of The Luzzatto Company, which paid $3.2 million for the two skyscrapers at California and 17th streets a year ago in April. Compared with the buildings’ 2008 sale of $112 million, that’s about 3 cents on the dollar. The plan is to turn the nearly 1 million square feet of underused office space into High Fidelity Plaza, a 700-unit apartment complex filled with urban amenities like a bodega, childcare center and bookstore. It’s also next to a light-rail stop.
The conversion will cost the Los Angeles investors about $315 million. But thanks to a low-interest $63 million loan from Denver’s Downtown Development Authority — “the minimum necessary to make this economically viable,” president Asher Luzzatto said — it’s a bet worth taking.
“We had to make a calculated risk that the DDA’s appetite for funding office-to-residential conversions would be attracted to this project in particular,” Luzzatto said in an interview with The Colorado Sun. “We were betting that if DDA was serious about funding these conversions, ours would be, had to be, at the top of their list — A, because of the scale and B, because of the location and C, because of the programming and design we plan to bring to it.”
Developer Asher Luzzatto inside one of the downtown Denver office towers owned by his firm, The Luzzatto Company, at 17th and California streets. (Andy Colwell, Special to The Colorado Sun)
DDA, a quasi-governmental entity to finance downtown improvements, took the wager. The organization had already approved three multimillion dollar loans to private developers for office-to-housing conversions. And the High Fidelity project seemed vital to infusing vibrancy back into the city’s center.
Tourists, convention goers and local visitors have returned to downtown, especially along 16th Street, which completed a multiyear makeover last fall. Foot traffic is pretty much back to prepandemic levels, reaching 95% of traffic measured in 2019, according to data market researcher Placer.ai provided to the Downtown Denver Partnership, a separate organization that promotes the city’s economic center.
But the office market is different. While other major cities are still below their 2019 office occupancy levels, downtown Denver last month had the worst office recovery rate of them all. The city’s reputation as a top place for remote work and downtown’s outdated perception of pandemic insecurity and homeless encampments probably hasn’t helped.
In May, office visits to downtown Denver office buildings were off by 48.4% compared to 2019, according to Placer data, which uses anonymized cellphone data of phones in an office for at least three hours are presumably owned by a worker.
However, data doesn’t tell the whole story. In a three-part series, The Colorado Sun is taking a closer look at what is happening to the Upper Downtown neighborhood that has had a heckuva time returning to its former glory.
The Colorado State Capitol and Civic Center Station from 16th Street. (Andy Colwell, Special to The Colorado Sun)
If all goes as planned, DDA will help turn nearly one-fourth of the underused office space into something that city dwellers demand — like a place to live.
The sign on the Paramount Theater in August 2020. (Eric Lubbers, The Colorado Sun)
The highly aspirational plan for reviving Upper Downtown, the chunk of central Denver from Lawrence Street to Broadway, includes helping Civic Center shed its negative image by transforming it into a year-round community hub and purchasing the troubled Denver Pavilions mall because no one else would.
Khruangbin performs at the Outside Festival on May 31, 2025 in Denver’s Civic Center Park. (Handout)
Funding for all this comes from $570 million in city bonds approved by downtown voters in 2024. And so far, DDA has approved $225 million in loans and grants, mostly to commercial applicants, some small merchants and the city for work to upgrade properties such as the McNichols Building and Civic Center and Skyline parks. Eventually, the loans must be repaid and the DDA must return the money to the city — plus interest.
The way Luzzatto sees it, this isn’t really a risk at all for the city or the future taxpayer dollars funding the loan.

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“These aren’t grant monies. They’re loans. So unless the project or the market completely collapses beyond where it’s already collapsed, they (the city) should be really well positioned to both recover the full amount of their investment plus interest,” said Luzzatto, whose company also acquired the two Denver Energy Center buildings at 16th and Broadway last year for $5 million.
“You ultimately put the onus on developers in private markets, but you also help. You help make the economics make sense ex-ante by providing these lower-interest loans to get the construction going.”
The public funding is fueling fast decisions. The DDA board has approved at least 16 projects in less than a year. None of the multimillion-dollar loans to commercial developers have been funded, though. That’s largely because projects are still in the planning stage, getting permits and arranging other financing. Downtown’s high office vacancy rates, which include buildings that are no longer actively leasing, continue to rise, according to real estate broker CBRE. The pressure is on.
“We’ve lost, oh, I don’t know, 30, 40% of our employees, particularly in Upper Downtown just through flex work and some companies, many companies downsizing and such,” said Bill Mosher, a consultant to Denver Mayor Mike Johnston who is working with DDA to figure out how to attract more life to Upper Downtown.
Mosher’s done this before. In 2008, he helped create the DDA to pay back a $300 million federal loan to renovate Denver Union Station. DDA used a tool called tax increment financing, or TIF, which let the authority borrow money from future downtown property and sales taxes and pay it back in 30 years. The renovated Union Station opened in 2014 with a hotel, the A line to the airport, shops and restaurants. The loan was paid off in 2024.

“It got paid off early,” Mosher said.
And the payoff coincided with the mayor’s plan to use TIF again to solve the economic crisis in downtown. In 2024, the city’s downtown office market was more than 30% vacant. But the emptiness was far greater. Many companies still had leases, but their employees worked remotely, turning downtown office towers into zombie buildings with few people showing up in person. As leases came due, many opted for a smaller footprint, if they renewed at all. Vacancy rates kept rising.
Downtown voters overwhelmingly approved the plan in late 2024 and allowed DDA to tap $570 million in future taxes to invest in the city’s center. The TIF was amended to include Upper Downtown.
The DDA’s plan was straightforward.
“We’ve made a goal to try and eliminate over the years about 7 million square feet of vacant or obsolete office space. And we want to do that by either filling them with office workers, which is a challenge right now, or converting space to residential,” Mosher said. “And, you know, people always ask about demolition. We say that’s probably a third choice, but we’re not at the point where we want to buy buildings to tear down.”
But that’s the kind of quandary the city faced. Nobody was stepping up. Downtown restaurants, retailers and the office market were not recovering on their own.
Denver buys a mall and then some
In December, the Denver City Council gave the DDA its blessing to buy the Denver Pavilions, the shopping mall between Welton Street and Tremont Place, for $37 million. That wasn’t in the plans a year earlier.
“We had no intention of buying it,” Mosher said. “But if you’re going to focus on 16th Street and you’re going to focus on Upper Downtown and you’re sitting there with a potential foreclosure of Pavilions, it’s not a good situation.”
The 354,407-square-foot mall had shed anchor tenants like Uniqlo, Hard Rock Cafe and Banana Republic. “It had been in a precarious position for almost a year,” Mosher said. Financed in 2016 for $140 million, the Pavilions had an $85 million loan that was past due by the time DDA purchased the mall. The bank hadn’t been paid in six months, Mosher said.
“Frankly, the feeling we got from the bank, and the word we got from the bank, is they would sit on it for a couple of years and see what happened with Upper Downtown. And we felt this was a situation that we didn’t want to live with,” Mosher said. “We needed to control our own destiny.”
The city is a long-time landowner and landlord. According to city data, Denver owns hundreds of properties totaling about 12.5 million square feet in buildings, including recreation centers and parks facilities.
The boathouse at Smith Lake at Denver’s Washington Park in August of 2023. (Olivia Sun, The Colorado Sun via Report for America)
But the buildings are mostly fire stations, libraries, jails and garages, as well as large properties such as the Colorado Convention Center, Denver Botanic Gardens, National Western Complex, Denver Art Museum and the old Denver Post building on the corner of West Colfax Avenue and Broadway.
The Denver Post building in downtown Denver in March of 2025. (Jesse Paul, The Colorado Sun)
The city also is landlord to numerous tenants including Dazzle Jazz, which occupies a space attached to another city property, the Denver Performing Arts Center.
The main listening room at Dazzle Denver at the Denver Center for the Performing Arts. (Handout)
But most of the recent purchases and loans weren’t done by the city. Those are owned or managed by the DDA. In the case of the Pavilions, DDA was actually eyeing the two parking lots on 15th Street behind the mall, which were owned by another company. Without acquiring those, the city’s mall purchase risked another developer coming in with something else in mind instead of one in simpatico. The two parking lots cost DDA another $22.5 million.
The surface parking lots are active and bring in two-thirds of the mall’s parking revenue. Between retail tenants and the parking, the Pavilions is collecting $3.3 million in net revenue a year. The money is being invested back into the property, including setting aside $3.5 million to repair the underground parking garage — work that had been deferred for four years.
“What’s interesting about the Pavilions is that it’s 38% vacant,” Mosher said. “It’s actually 62% occupied. We’ve got some long-term active tenants.”
It’s desperate situations that are getting DDA’s attention. The owners of the Petroleum Building at 16th and Broadway had been trying to convert the 14-story office tower into housing for five years. In November, the DDA approved a $14 million low-interest loan for the office tower, which when it was built in 1957 housed the oil industry’s Petroleum Club, according to the National Register of Historic Places.


LEFT: The Petroleum Building on the corner of Broadway and the 16th Street Mall in downtown Denver. (Kathryn Scott, Special to The Colorado Sun) RIGHT: A rendering of what a studio unit layout that would be part of the Petroleum Building’s conversion. (Handout)
Co-owner Tim Borst said he was thrilled to get the DDA funding. Combined with historic tax credits and their own investment and city support, the $70 million project aims to convert offices into 178 residential units with amenities like a yoga and fitness center, a penthouse dog park and gardening spaces. Ironically, there’s been one snafu so far: An office tenant who bought Borst’s coworking business still has a lease and is trying to renegotiate.
“Those tax credits, along with the DDA loan, are critical components for the project,” Borst said in an email. “We are in discussions with our final remaining office tenant and expect to have a resolution prior to construction commencement, which is currently anticipated for (January).”
But one DDA project has already fallen off the list. The Symes Building, at 16th and Champa, was approved for a $17 million loan last July. Plans call for converting the historic office building into 116 apartments. Developers had received city approval on their site development plans but then the lender booted them out. If the lender finds a new development partner, the project could return. But for now, it’s on hold for DDA funding.
“We’re not reserving the money,” Mosher said. “They would have to reapply and we would have to consider it. The advantage they have is the site development plan. And if a developer comes along and picks up the existing plans then they can move pretty quickly. We’re really interested in projects that can get going now. We’re not funding projects and saying, if you get your act together in five years, we’ll give you money.”
The plan for the 12-story University Building, at 910 16th St., is to turn the old office building into income-restricted housing. DDA approved a $14.5 million loan in July to convert it into 120 affordable rentals. The project is the furthest along with construction expected to begin in early 2027, according to Mosher.
Many of DDA’s loans to developers and small businesses are being offered at a low 3% interest rate with terms between 10 to 40 years. The authority is providing grants to a number of small retailers, restaurants and businesses. Here is what has been approved so far:
Denver’s McNichols Building on June 5. (Andy Colwell, Special to The Colorado Sun)
- Petroleum Building, $14 million loan. The 14-story office tower at 16th Street and Broadway is being turned into 178 rental units at a total project cost of $67.9 million.
- University Building, $14.6 million. Another office-to-residential building would add 120 affordable rentals at 900 16th St.
- Barth Hotel, $6 million loan. The former assisted-living facility at 1514 17th St., is being converted into 50 affordable-housing units for lower-income seniors. Construction is expected to start in spring 2027 and be completed by early 2028.
- High Fidelity Plaza, $63 million loan. Two office buildings at 17th and California will be converted into 700 apartments, with 10% meeting affordable-housing requirements. Potential move in date: 2029.
Buses and a bicyclist traverse 16th Street. (Andy Colwell, Special to The Colorado Sun)
- Denver Pavilions, $37 million. DDA is the new owner of the shopping mall on 16th Street. DDA doesn’t plan to own it forever and will work with developers interested in maintaining the property as a hub for city life.
- Green Spaces Market, $4.2 million grant. Green Spaces is leasing the block of vacant storefronts along 16th Street, where a Radio Shack and Taco Bell were once tenants. The company is creating a place for artists, local food and other unique vendors at below-market leases in 17,500 square feet at 600 and 622 16th St.
- Denver Immersive Repertory Theater, or DIRT, $400,000 loan. A new production studio and 200-seat theater is taking over the former Patagonia store at 1500 Blake St.
- Milk Tea People, $640,000 loan. This tea beverage and dessert seller plans to relocate from a few doors away, nearly tripling its space at 1485 16th St. The opening is planned for early August.
- Sundae Artisan Ice Cream, $750,000 loan (pictured). The Western Slope artisan ice cream shop held its grand opening June 13 with some help from DDA funding. It’s taken over the former Cook’s Fresh Market at 1600 Glenarm Place.
Patrons of the newly opened Sundae Artisan Ice Cream are reflected in a cooler’s window at Denver’s 16th and Glenarm streets on June 12 in Denver. (Andy Colwell, Special to The Colorado Sun)
Grants to give downtown a unique, local vibe
The latest iteration of DDA is still relatively new. Its first awards went out less than a year ago. Many recipients are small business owners, some who’ve already moved forward with expanding their business along 16th Street.
Sundae Artisan Ice Cream, which started in Vail in 2016, received a $750,000 DDA loan to expand in Denver. The new store, at 1600 Glenarm Place, officially opened Saturday.
Over on 16th Street between Welton and California, Jevon Taylor has already received a half year of rent money from his DDA grant of $4.2 million. Taylor is taking over the ground floor of two buildings for Green Spaces Market, which will include artists and local vendors and food. It’s charging below-market rents.
“We couldn’t do this without a grant,” said Taylor, who had operated a coworking space and marketplace in Five Points. “We’re also trying to push the needle and provide viable options for these kinds of opportunities to exist. My goal with this is to get beyond the five years we’re guaranteed (rent) and figure out how we can expand this to a larger footprint and longer term lease.”
The market is expected to open in September. As of May, all the spaces have been leased, including a spot to Konjo, which plans to open its third and largest Ethiopian eatery, he said.
“I think Denver is one of the only cities that is doing it on this level,” said Taylor, who’s also known for the False Ego fashion label. “I mean you see things like Kansas City, where the World Cup is coming and they’re giving two months of free rent to businesses. I think that’s absolute BS. I’m glad that Denver is giving us the opportunity to do this for a five-year span and letting us pilot this.”
City’s spending on office conversions so far? “Not much.”
The larger loans for commercial conversions are still waiting for projects to get further along with building permits and additional financing.
“Not much of it has been spent, frankly,” Mosher said. “Think of us as a bank. The High Fidelity project is a good example. We’re requiring their first lender and the DDA to go in together on the loan. So we won’t spend any money on the High Fidelity project until potentially 2028. It could be under construction and the developer’s equity is being spent before we come in with our money.”
The $570 million TIF doesn’t mean DDA has access to all that money at once. It’s based on collected sales and property tax revenues, so even the authority must consider how much more to loan based on the likelihood of being able to pay it back.
The DDA has received 100 project proposals. Of those, 67 were ineligible or not selected, seven are on hold or missing information, 16 were awarded grants or loans and 10 are still in review.
“There aren’t many cities that have the resources of the DDA to help their downtown,” Mosher said. “That being said, the overall amount of money is not a lot. I mean, just look at $60 million going to 700 housing units. It’s expensive and so all we’re trying to do is get the market going in the right direction, give a couple of examples of things that can work and then hopefully the private market takes over.”
Similar efforts are happening in other cities that experienced a mass exodus of office workers in the pandemic. Dallas, which has used TIFs for decades to encourage growth, increased funding to developers in 2022 after watching companies move to its suburbs, according to a Pew Charitable Trusts report. In October, the Dallas City Council agreed to provide $103 million to redevelop the city’s tallest office building into a hotel.
Why isn’t the downtown office market filling back up? Two words: remote work.
Denver’s low recovery rates has also been attributed to its “remote-friendly labor market,” said market researcher Placer, which ranked the city as having the worst pandemic office-recovery rate. Last month’s office visits were off by 48.4% compared with May 2019. Miami, the closest to a full recovery, was off by 11%.
But the city and state has long had a higher share of remote workers than all other states, according to U.S. Census data. It was that way in 2019, when 8.3% of workers said they worked some or all of their days at home. And it was that way in 2024, when “work at home” jumped to 22.9%.
Washington, D.C., took the lead in 2024, but Colorado was still the top state.
Pedestrians keep their distance on the nearly deserted 16th Street Mall in March of 2020. (Eric Lubbers, The Colorado Sun)
The state’s large of work-from-home force is largely thanks to the Denver, Boulder and the Fort Collins metro areas. Boulder had the highest rate of work-from-home population in 2019 and 2024, at 13.7% and 28.7%, respectively, out of nearly 400 metro areas nationwide. Denver ranked fourth in both years, at 9.1% and 22.6%. Fort Collins, ranked seventh, had doubled to 20.9%. The U.S. average was 5.7% in 2019 and 13.3% in 2024.
Postpandemic was indeed different in Denver, said Kourtny Garrett, president of the Downtown Denver Partnership, which promotes the city’s economic center. Garrett pushed for city intervention to help distressed landlords and small businesses that suffered as 16th Street spent more than three years under construction. It reopened last fall.
“Tech and government were two of our primary employers in downtown Denver and are also the two (with) the slowest to return to the office,” Garrett said. “Also, because of 16th Street construction, when a lot of downtowns were starting to see offices opening up and employees coming back, we had over a mile of our downtown under construction. … We’re enjoying the fruits of that construction today.”
Local experts say that now six years after the pandemic began, companies have figured out remote work. Many employers kept hybrid schedules, including the city of Denver, which expects its 14,280 employees to come in three days a week, though a recent HR survey found that 64% were showing up five days a week, a city spokesperson said.
Office leasing activity for commercial brokerage firm CBRE is “incredibly busy,” said Allison Berry, a senior vice president at CBRE in Denver. Tenants want the newest and nicest office spaces and always have, she said. “The vacancy rate is high in Denver because we have a lot of aging product.”
At the end of the first quarter, CBRE data had the city’s total vacancy rate at 38.9%, creeping up from 36.9% a year earlier. The vacancy rate includes buildings slated for apartment conversion or other non-office uses.
Remove those, Berry said, “and that obviously has an impact on our vacancy rate,” she said. Her back-of-the-napkin math on that would drop the downtown vacancy rate at least a few percentage points. Of course, she added, “It’s not just an issue for Denver. We’re just a smaller city so every tenant, every large tenant, has a huge impact on our vacancy rate.”
But there’s not enough public money to save every old building.
In April, the DDA board rejected a project from Revesco Properties, a Denver real estate investment firm that purchased Elitch Gardens with Kroenke Sports and Entertainment more than a decade ago. Revesco’s pitch was to get a DDA loan to turn the 16-story office tower at 475 17th St. into apartments. It was rejected because of the overall cost.
DDA officials said the project asked for nearly twice the amount of other approved conversion projects, much higher than the 20% maximum as outlined in the authority’s policy.
There’s a chance the proposal can be restructured to better fit the DDA’s objectives, so Revesco president and CEO Rhys Duggan doesn’t call it dead yet.
“But these projects are financially challenging and they’re expensive. Ironically, they’re less expensive than new build projects, but they still take a fair amount of government assistance to get them going,” Duggan said. “What we learned through COVID was that when office workers stopped showing up, we were over-officed downtown and we were under-residentialed downtown. We need bodies downtown, not just 9-to-5 bodies.”
Denver’s office market isn’t actually dead
The city still needs offices downtown, so developers have stepped up.
In February, the Florida-based commercial real estate company CP Group grabbed the massive Denver Place complex for $47.5 million. Occupying the entire block at 999 18th St., the nearly 1 million-square-foot building was essentially purchased at a 75% discount, though the deal wasn’t as much of a fire sale as it may seem.
“We like the Denver market a lot,” said Angelo Bianco, CP Group’s managing partner whose company first became a local landlord when it purchased the nearby Granite Tower five years ago. “The Denver market has been suffering severely for a while. As a business model, we look to buy assets when they or the markets are what I call broken, with air quotes around broken.”
CP Group’s plan is to invest another $20 million into Denver Place and add amenities that potential tenants actually want. That includes a gym with towel service, indoor/outdoor tenant lounges and a place to buy food “because in our entire 21 million-square-foot portfolio, that’s the number one request,” Bianco said. “And we subsidize all vendors because you do not make money on the amenities. You make money because of the amenities.”
It’s not a blind gamble. Bianco said he is motivated by the city’s highly educated workforce, the city’s reputation for worst return-to-office recovery (he believes there will be a big turnaround soon), and the public and private push to convert aging office towers into other uses.
“We’re a very good buyer, and so we’re able to close during really tough times,” Bianco said in an interview in early February. “Right now is a terrible time to sell any office in any market.”
People share ice cream inside the newly opened Sundae Artisan Ice Cream at 16th and Glenarm streets on June 12. (Andy Colwell, Special to The Colorado Sun)
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