Changes are coming to the University of Colorado Denver after the school purchased a high-rise in the Central Business District, creating opportunities to expand students’ career and research experiences.
The Independence Plaza Building includes a public plaza that runs the length of the property, a mezzanine with outdoor seating, 25 levels of commercial space, a fitness center, a conference center, and three levels of underground parking. The building is bordered by Curtis, 16th, Arapahoe, and 17th Streets, and surrounded by a variety of businesses.
University of Colorado Denver
CU Denver says the plaza will “embed learners in the central business district, an ecosystem that will provide direct access to real world careers and learning experiences and enrichment through the arts, entertainment and culture. Some of this could occur within the building by prioritizing tenants who are mission aligned.”
The university plans to relocate departments in isolated locations and in aging facilities, and to develop a plan to realign its overall space to reflect current needs.
“After the purchase of the property, CU Denver will lead a broad campus-wide planning effort to identify what operations would be the best fit to occupy the building and support goals of workforce, economic, and business development, as well as potential co-location with other CU entities,” the university said.
University of Colorado Denver 
School officials also said the purchase will help free up spaces for partnerships, research, and creative activities.
Currently, there are eight tenants in the plaza, generating approximately $3,119,705 in annual rent. CU Denver says it will hire a property management company to manage tenants, vendors and parking rentals, similar to how the CU Denver building and Lawrence Street Center were managed until 2002. The parking rentals are estimated to bring in annual revenue between $998,408 and $1,462,726. Those funds will be used to maintain the building and facilities and cover operating costs.
The parking area also includes a dedicated bike corral with bike racks and lockers. School officials say a circulator shuttle service will be available to help students, staff and faculty access the plaza. Other transportation options near the building include Union Station and access to the 16th Street FreeRide and the free MetroRide.
University of Colorado Denver 
The university will purchase the property for $29.75 million in cash from campus reserves. School officials entered into a purchase and sale agreement on April 6, and closing is scheduled for June 26. They said no state dollars will be used for the purchase, and the building will be treated as an auxiliary operation, meaning no general funds supporting non-CU Denver activities or space.
