The University of Colorado has completed its purchase of Independence Plaza, a 25-story, 567,287-square-foot tower at 1050 17th St., marking a significant expansion of CU Denver’s presence in the heart of downtown Denver. The $27.95 million acquisition, finalized August 10, adds a landmark downtown property to CU Denver’s growing footprint and strengthens its role as the metro area’s anchor public urban research university.
The building will house a new 30,000-square-foot regional innovation and entrepreneurship hub, developed in partnership with Denver Economic Development & Opportunity (DEDO), offering resources, programming, and connections for startups and small businesses. The Denver Downtown Development Authority approved $4.5 million in support of the hub in June, pending Denver City Council approval.
“Downtown has always thrived on a diversity of uses — business, housing, retail, culture – and now expanded higher education and innovation infrastructure,” said Kourtny Garrett, president & CEO of the Downtown Denver Partnership “Independence Plaza builds on CU Denver’s existing commitment to the Auraria Campus, bringing students, faculty, and researchers even closer to downtown’s employers, retailers, and cultural institutions every day. Paired with Launch Denver, this is a front door for the city’s founders, researchers, and small business owners, and a clear signal that downtown is a magnet for talent and entrepreneurship.”
CU Denver already serves over 40,000 students and faculty at the Auraria Campus, a pillar of talent; the Partnership’s latest State of Downtown report found operating at a 110% post-pandemic recovery rate. The university’s continued investment, including this acquisition, reflects the broader momentum of downtown’s education and innovation ecosystem, where public and private partners are increasingly collaborating to reshape underused space for new purpose.
“As a public urban research university, our role has never been to simply educate. Our value lies in our ability to translate knowledge into practical applications so our students, staff, and faculty can meet today’s challenges and tomorrow’s emerging needs,” said CU Denver Chancellor Kenneth T. Christensen, PhD. “Independence Plaza further positions us as a leader in Denver’s entrepreneurial and creative ecosystem while also expanding opportunities for our learners through internships, employment, and career-connected learning.”
In fiscal year 2024–25, CU Denver generated $665 million in total economic impact, including $339.6 million in labor impact and $163 million in student and visitor spending, while employing roughly 2,000 people across the region. Independence Plaza, acquired through the University of Colorado Foundation and approved by the CU Board of Regents in June, will operate as an auxiliary enterprise managed by CU Denver.
CU Denver will next undertake a space-utilization evaluation to determine the best long-term uses for the building, supporting students, employees, and regional partners as the project moves forward.
”Having CU Denver as an education anchor helps us build a stronger workforce pipeline that retains our talent here in Denver for the next decade of growth,” said Mayor Mike Johnston. “As part of our Denver Jobs Agenda, this new innovation hub brings opportunity for students and educators to not only connect and join the workforce that surrounds them in downtown, but to turn their ideas into successful startups and businesses. And with thousands of students learning, creating and building their futures here, CU Denver will bring new energy and vitality to our city center, helping make downtown an even more vibrant place to live, work, learn and innovate.”
