Alterra Mountain Company has secured approval from the Denver City Council to lease roughly 65,000 square feet in the former Denver Post building near Civic Center Park. The move will shift about 275 employees from the River North (RiNo) district to downtown, with plans to add close to 100 more workers over the coming years.
Incentives and lease terms
The city and the Downtown Development Authority will provide a $7 million low‑interest loan, up to $1 million in additional incentives, and $3.9 million in state tax credits, loans and grants. Alterra will also receive a year of free rent and two years of free parking on the building’s deck. The lease runs up to 12 years at $22 per square foot, increasing $0.50 annually, and includes a $1.5 million early‑exit fee.
Council reaction
Some council members opposed the deal, questioning the use of public incentives and free parking for a private firm while city workers lack similar benefits. The lease passed an 8‑3 vote despite the criticism.
Local impact
City officials say the arrangement helps keep a major employer downtown and supports efforts to revitalize office occupancy in the Denver Metro area.
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