Westwood Commercial Redevelopment Program
South Federal Boulevard between Mississippi and Alameda Avenues and Alameda Avenue east to Morrison Road
Created in 1990 to help revitalize a neglected section of South Federal Boulevard, DURA’s Westwood Urban Renewal Area provides grants and loans to area property and business owners for rehabilitating and redeveloping blighted sites. Running along both sides of Federal from Mississippi Avenue north to Alameda Avenue and west along Alameda to the intersection with Morrison Road, the Urban Renewal Area has provided more than $2 million in assistance to help refurbish more than 35 properties in Denver’s Westwood neighborhood.
Unlike most of DURA’s other urban renewal areas, Westwood did not have a specific signature project as the basis for its formation, and thus no immediate generation of tax increment. Over time ,however, the area began to develop into the mix of Asian and Hispanic businesses for which it is known today. The increase in tax revenue generated by the success of these businesses helped create a funding source for making physical improvements in the area as called for in the urban renewal plan.
Established in 1995, DURA’s Federal and Alameda Commercial Redevelopment Program (FACRP) provides matching grants to businesses for façade improvements along Federal and Alameda, in addition to TIF investments in major redevelopments like Haeng Plaza at the southeast corner of Federal and Kentucky. Funds are also available for housing projects in the Westwood neighborhood.
For more information on FACRP and other opportunities for assistance in the Westwood neighborhood contact the DURA Redevelopment Department.
fact sheet
Project Description:
Grants and loans for redevelopment and rehabilitation along the South Federal Boulevard commercial corridor between Mississippi and Alameda Avenues.
Developer:
Various
DURA Participation:
More than $2.2 million in grants and loans for more than 35 projects within the renewal area to date
Tax Increment Source:
Property and Sales Taxes
Term:
January 8, 2015
location map
