CU Denver Buys $28M Building for Innovation Hub Downtown

Downtown Denver is about to become a launchpad for the next generation of innovators and entrepreneurs.

The University of Colorado Denver completed its purchase of Independence Plaza on August 10, investing $28 million in a vision that brings students, startups, and community partners under one roof. The 567,000-square-foot property spans an entire city block and includes a 25-story tower plus 690 parking spaces.

The centerpiece of the transformation is a planned 30,000-square-foot regional innovation and entrepreneurship hub. CU Denver is developing it with Denver Economic Development & Opportunity to support startups and small businesses through resources, mentorship, and connections that create jobs.

Mayor Mike Johnston sees the building as more than just new university space. "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," he said at the announcement.

The university already generates serious economic impact. In the 2024-25 fiscal year, CU Denver contributed $665 million to the regional economy and employed approximately 2,000 people across metro Denver.

Students stand to gain the most from the expansion. The downtown location will create more opportunities for internships, career-connected learning, and direct access to the employers and entrepreneurs working alongside them in the building.

Chancellor Kenneth Christensen emphasized the university's practical mission. "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," he explained.

The Ripple Effect

The building purchase represents a century-long commitment coming full circle. CU Denver traces its roots to 1912, when the University of Colorado established its Department of Correspondence and Extension in the city.

Now the university occupies more than 15 buildings across downtown Denver. Independence Plaza adds crucial space for the kind of collaboration that turns classroom learning into real-world innovation.

The Denver Downtown Development Authority approved $4.5 million to support the entrepreneurship hub project, pending final city council approval. That investment signals confidence in the building's potential to energize downtown with thousands of students learning and creating alongside established businesses.

The purchase was made possible by the University of Colorado Foundation and will operate as an auxiliary enterprise. That means it won't impact existing campus budgets while still serving students and the broader community.

Downtown Denver is about to get a lot more innovative, one student startup at a time.