The Denver Metro Badger

Denver considers $1.35 million grant for downtown arts space

The proposed Downtown Development Authority grant would help the Community Arts Stabilization Trust acquire and improve space at 444 17th Street, but City Council approval and other closing conditions remain pending.

Published Denver
Downtown Denver streetscape at 17th Street and Glenarm, with the ground-floor corner unit identified in source materials for the proposed CAST arts space outlined in yellow.
Downtown Denver streetscape at 17th Street and Glenarm, with the ground-floor corner unit identified in source materials for the proposed CAST arts space outlined in yellow.

Denver is considering a proposed $1.35 million grant to help the Community Arts Stabilization Trust acquire and improve an arts space at Unit 100 of the Midland Condominiums at 444 17th St.

The grant would support a roughly $1.77 million project with affordable art studios, a gallery, a micro-cinema and art storage. The proposal allocates $500,000 for acquisition and $850,000 for tenant improvements, according to a Denver Department of Finance presentation.

The agreement would require the space to reach 95% occupancy, and the project materials anticipate delivery in summer 2027.

The CAST proposal is separate from the proposed financing for the University Building at 900–918 16th St. That project would convert offices into 120 income-restricted homes with a proposed Downtown Development Authority loan of up to $14.7 million. The previously reported University Building proposal remains subject to City Council approval and final legal review.

The Downtown Development Authority board approved the CAST development project in June, but City Council had not adopted the proposed funding agreement as of Sept. 12. Ordinance 26-1335 was scheduled for consideration by the Community Planning and Housing Committee on Sept. 15.

Under the proposed agreement, the city would transfer funds held on the authority’s behalf to the Downtown Development Authority, which would provide the grant to CAST. The funding remains subject to appropriation, inclusion of the property within the authority’s boundaries, successful acquisition and a signed option agreement. The city would not be a party to the underlying grant or option agreement.