This election, the City of Denver is asking voters on 2E 鈥� a seemingly innocuous ballot measure — to take out a $190 million loan to pay for the development of a new arena and market at the National Western Complex. But behind this ballot measure is a legacy of troubling development that serves developers, city officials, and tourists while ignoring what Denver residents need and want.
Denver has undergone a transformation over the last 20 years with booming tourism and new development. But we鈥檝e also seen the growth of record-high housing costs, unprecedent numbers of people living on the streets, and the worst air quality ever recorded in the city. As part of a recovery package, why does 2E not prioritize these pressing problems instead of investing in a new event space?
Supporters of 2E will tell you the arena and market will help stimulate Denver鈥檚 economy. What they won鈥檛 tell you is that it抖阴ap mostly stimulating the bank account of Denver鈥檚 developers to help draw in tourists while ignoring what Denver residents want and need. The largest donors supporting 2E 鈥� and the largest of the entire election 鈥� are in fact development companies. Their support for 2E makes sense when you consider the return on their investment 鈥� they donate a few hundred thousand dollars now and in return receive $190 million in 鈥榝ree鈥� money from the City.
But while development companies line their pockets, the local community gets almost nothing. Take for example the City鈥檚 development plans. In one portion it explores using the Arena as a speed skating rink for the Olympics and then goes on to describe how local residents do not have sufficient household income to shop at the planned market. The City would rather build a speed skating and event space than an affordable food source in one of Denver鈥檚 largest food deserts. These development projects are not for the people of Denver.
What adds insult to injury is that Denver taxpayers have already paid for development at National Western. In 2015, voters approved a bond of $775 million for the National Western Complex and the expansion of the Convention Center under the promise that the City would not ask taxpayers for any further taxes for these developments. Now, the City is going back on its word. Even more alarming is that private companies were supposed to partner with the city to develop the projects but pulled out of the agreement because they found it to be too risky. So after private companies found the investment to be too risky, the City is now passing that risk and financial burden on to taxpayers.
Let抖阴ap show the City what type of development Denver residents want 鈥� development that serves its residents, not tourists. Development that is financially sound and socially responsible. And development that addresses Denver鈥檚 most pressing needs, not exacerbates existing problems. Vote no on 2E to ensure responsible and just development for Denver.
聽Sarah Lake the campaign manager for No On 2E (No on the Arena Bond) and holds a PhD in Economic Sociology from CU Boulder.聽
To send a letter to the editor about this article, submit online or check out our guidelines for how to submit by email or mail.
