Pioneers and settlers in Lo-Do Denver: Private risk and public benefits inurban redevelopment

Older industrial districts, often rich with history and architecture, are p aradoxically central yet decaying features of the modern US urban landscape . However, several such areas are experiencing major renaissances through i ndividual sparks of private business investment. Lower Downtown (LoDo) Denv er is a well-known example of this phenomenon; less recognised is the influ ential role of craft breweries in its rebirth. This paper first explores a game-theoretical framework for understanding the private strategies in such pioneer enterprises, along with the potential market failures and external ities involved. A case study of the LoDo experience is then presented to hi ghlight both the theoretical and policy perspectives of the research.