Denver closes first $410 million Vibrant Denver Bond tranche
Denver wrapped the sale of the first $410 million tranche of Mayor Mike Johnston’s $950 million Vibrant Denver bond package, the city said in a statement Thursday.
The sale, according to the Department of Finance, “will allow the city to fulfill its promise to voters of getting started on all bond projects in 2026.”
“In approving this bond program, voters entrusted the city to deliver critical investments across Denver that will create safer streets, stronger neighborhoods, and more vibrant public spaces,” Mayor Mike Johnston said. “This milestone reaffirms our commitment to voters that all bond projects will start in 2026, whether that be initial planning, public engagement, design or construction, and that we are on track to complete all projects within six years.”
Future bond sales over the next several years will provide the remaining $540 million, bringing the total to $950 million, the amount approved by voters. Future bond sales will be timed to align with the projects’ funding needs over the next six years.
| PURPOSE | NUMBER OF PROJECTS | FIRST ISSUANCE FUNDING | TOTAL PROGRAM AUTHORIZATION |
|---|---|---|---|
| Transportation and Mobility | 14 | $93,175,000 | $441,420,000 |
| Parks and Recreation | 21 | $68,540,000 | $174,750,000 |
| City Facilities | 18 | $158,960,000 | $244,430,000 |
| Housing and Sheltering | 3 | $59,300,000 | $59,300,000 |
| Health and Human Services | 2 | $30,100,000 | $30,100,000 |
| TOTAL | 58 | $410,075,000 | $950,000,000 |
The full bond program is scheduled to be completed in 2031 and will cost the city approximately $1.8 billion.
Denver was able to secure “a competitive and favorable average interest rate of only 4.28%, well under the maximum authorized rate of 5.5% and 6.25% for its Series 2026A and B bonds, respectively,” city finance officials noted, “keeping costs low for taxpayers and maximizing the long-term affordability of this bond program.”
Announced on the heels of the city’s $200 million budget deficit, Johnston’s Vibrant Denver bond package was met with criticism from residents concerned with the city taking on additional debt.
However, voters approved the entire package in 2025.
City officials have said the package will create 7,000 local jobs, generate an estimated $1.8 billion in economic activity, and deliver long-lasting improvements that will make Denver’s neighborhoods safer, more connected and more “vibrant” for everyone.
In the coming weeks, the city will launch an online dashboard where residents can track the status of all Vibrant Denver bond projects.
Users will be able to access schedule and cost information, project descriptions, and more. As the program develops, the city will also share opportunities for communities to provide input and feedback on specific projects.
For more information, visit denvergov.org/gobonds.