DENVER (CBS4)– A new effort to revitalize Five Points kicked off Thursday with the “Welton Design and Development Challenge.”
The City of Denver will award three developers and prospective businesses around $175,000 to help fund their projects.
Those must be located along Welton between 20th and 30th Streets.
“There is not an area of town more than I would like to see turned around and begin to flourish more than I’d like to see Five Points,” said Denver Mayor Michael Hancock.
City leaders predict Five Points will be the next neighborhood in Denver to see a surge in economic development and business. Some of the factors are that it is close to downtown, it has a rich historic past and access to public transit.
A panel of judges will review the proposals which are due at the end of September.