Free rent incentive for new businesses is changing the future of downtowns

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Free rent incentive for new businesses is changing the future of downtowns
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Each business is getting at least three months of free rent in a prime location storefront. That's in addition to a stipend for things like marketing and design.

DENVER, Colo. — In any downtown, it’s easy to see the changes that have resulted from the pandemic. But in downtown Denver, those empty storefronts are becoming new chances.

While they are taking customers to other parts of the world, they didn't land on their feet in Denver on their own. Kourtny Garrett is the president and CEO of the Downtown Denver Partnership, an organization working with the city and county, along with properties to bring new businesses to empty storefronts.

"I think retail is a very interesting industry because it reflects consumer behavior. So, as consumer behavior changes, retail districts really need to update themselves and think about what will capture people's imagination," Wiebenson said."It's bringing life back to vacant spaces that were just standing empty for in some cases two years or more."

Popup Denver sped up that process with subsidized rent, reduced startup costs, and permitting paperwork and access. Those with the partnership say they are creating a handbook for other cities to follow but what’s most important for them to note, are the partnerships between the city and the properties.

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