"Pioneers and Settlers in Urban Redevelopment"
 
Older industrial districts, often rich with history and architecture,
are paradoxically central yet decaying features of the modern American
urban landscape. However, several such areas are experiencing major
renaissances through individual sparks of private business investment,
which have resulted in both tourist interest and a welcome source for
new fiscal income. Lower Downtown (LoDo) Denver is a well-known example
of this phenomenon; less recognized is the influential role of a single
brewpub in its rebirth. This paper explores a game-theoretic framework
for understanding the private strategies and constraints in such pioneer
enterprises, along with the potential market failures and externalities
involved. The findings of this approach clearly argue for a constructive
public role in supporting such ventures. A case study of the LoDo
experience is presented to incorporate both the theoretical and policy
perspectives of the research.