Pioneers and Settlers in Lo-Do Denver: Private Risk and Public Benefits in Urban Redevelopment

Older industrial districts, often rich with history and architecture, are paradoxically central yet decayin g features of the modern US urban landscape. However, several such areas are experiencing major renaissances through individual sparks of private business investm ent. Lower Downtown (LoDo) Denver is a well-known example of this phenomenon; less recogn ised is the in ̄ uential role of craft breweries in its reb irth. This paper ® rst explores a game-theoretica l framework for understanding the private strategi es in such pioneer enterprises, along with the potential market failures and externalities involved . A case study of the LoDo experience is then presen ted to high ligh t both the theoretica l and policy perspectives of the research .