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ACTIVITY REPORT
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SEPTEMBER 2014

JUNE 2014

JUNE 2013

MARCH 2013

SEPTEMBER 2012

JANUARY 2012

SEPTEMBER 2010

June 2014

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Southwest Downtown

URA Period: 2001 – 2026

Location: The Southwest Downtown Urban Renewal Area is located southwest of the central business core in downtown Colorado Springs. The area is generally bounded by Interstate 25 on the west and Bijou Street on the north to the Union Pacific railroad lines. The rail lines then form the eastern boundary from Bijou Street to Colorado Avenue. Colorado Avenue serves as a northern boundary from the rail lines east to Cascade. South of Colorado Avenue, Cascade forms the eastern boundary. Cimarron serves as the southern boundary of the Area. Approximately 100 acres are included within the Urban Renewal Plan.

Plan Goals: The general purpose of this Urban Renewal Plan is to reduce, eliminate and prevent the spread of blighted conditions within the Urban Renewal Area and to stimulate the growth and development of the Southwest Downtown Area. In particular, the Urban Renewal Plan is intended to promote local objectives with respect to appropriate land uses, improved traffic, public transportation, public utilities, and other public improvements. Specifically, the purpose of the Plan is to create an urban neighborhood which leverages the community’s investment in America the Beautiful Park and creates linkages to the downtown core which is in accordance with the Downtown Action Plan and the Imagine Downtown Plan.

Current Status: The Authority is continuing to work on a new urban renewal plan for the Railway Lofts, 120 unit apartment project and restaurant to be constructed north of Colorado Avenue. The project will provide downtown housing opportunities as well as create a unique downtown urban neighborhood. The CSURA Board reviewed the conditions study which demonstrated that the area exhibits blight conditions during the January meeting. The urban renewal plan for the area north of Colorado Avenue is currently being completed in order to restart the tax increment period for this project. Property acquisition negotiations between the developer and a property owner are underway. The original SW Downtown Urban Renewal Plan will also be amended to exclude this same area. No other changes are proposed to the existing plan at this time. Both plans will require City Council approval.

The Authority and the City are currently negotiating a resolution with the State of Colorado for City for Champions RTA project. State sales tax increment funding created by new tourism revenue will be distributed to CSURA once the “Base Amount” has been exceeded for a period of up to 30 years. The funds will be used to pay for the qualified development costs associated with each of the four approved projects. Local property tax increments and sales tax increments (subject to City Council approval) along with other sources could be used to match the state funds. The Board will consider the resolution at a future CSURA Board meeting after the state has completed its review (late summer 2014).

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Ivywild School

URA Period: 2011 - 2036

Location: The boundaries of the Area include approximately 5.13 acres of land generally defined to include 7 legal parcels plus public rights-of-way. Geographically, it is situated in the Ivywild neighborhood (including the vacant Ivywild School), near the vicinity of Interstate 25 (I-25) and Tejon St, southwest of I-25 and north of Cheyenne Blvd, along a tributary of Fountain Creek, in south central Colorado Springs.

Plan Goals: The area has long been designated as a Neighborhood Strategy Area by the City of Colorado Springs. The City has improved the infrastructure in the surrounding neighborhood including the construction of a neighborhood park. However, the area around the school and adjacent to Tejon Street is still unimproved and lacks sidewalk, curb, gutter as well as streetlights. Phase 1 of the Plan will upgrade the infrastructure surrounding the school site.

The Ivywild School was closed in 2009 by School District #11 and put up for sale. The redevelopment of the school site is a key element in the implementation of the Urban Renewal Plan. The new owners have completed the initial stage of improvements to develop the site into a mixed-use project that will ultimately include: a micro-brewery, bakery, coffee shop, architectural office space, greenhouse, residential units and performance/meeting space. The school grounds have been redesigned to include vegetable gardens, parking and outdoor gathering spaces for dining and special events.

Current Status: The Ivywild School has been renovated and includes: Bristol Brewery, a commercial bakery, coffee bar/restaurant, a bike shop and an architectural office. Streetscape improvements on Navajo Street connecting the school site to Tejon Street will be constructed by the City through the Community Development Block Grant Program (engineering/design underway) in 2014. The City also has plans to construct a round-about at the intersection of Cheyenne Boulevard and Tejon Street in order to improve traffic circulation as well as pedestrian safety in 2014. Additional retail, residential and office uses will be encouraged along Tejon Street through tax increment financing in subsequent phases.

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West Side Entrance Sign

Vineyards

URA Period: 2011 - 2036

Location: The boundaries of the Area include approximately 109 acres of land generally defined to include 4 legal parcels plus public rights-of-way. Geographically, it is situated in southern Colorado Springs near the vicinity of Interstate 25 (I-25) and Circle Drive, immediately east of I-25, west of Fountain Creek, north of Spring Run (irrigation canal), and south of El Pomar Youth Sports Complex.

Plan Goals: The site was originally developed, many years ago as a golf course with a clubhouse, restaurant, vineyard and homes. Over the years those uses proved not to be economically viable and the property fell into disrepair. Environmental issues also made redevelopment difficult and expensive. The current plan is to create a data center/industrial park on 61 acres and dedicate approximately 48 acres of open space and riparian environment to the City of Colorado Springs for park and trail uses. In addition to creating jobs and increasing tax revenues, the development team envisions establishing a curriculum with the University of Colorado at Colorado Springs and Pikes Peak Community College that will train a workforce with skills necessary to manage and operate a data center facility.

The vision for the Vineyard property is “to develop one of the nation’s only sustainable data center/ industrial campuses which leverage the broad resources of the community to provide an environment that is sustainable, resilient and economically efficient enough to brand Colorado Springs on a national level.”

Current Status: $2 million in infrastructure improvements were completed during 2013. The developer has tenant commitments for enough space to start the first building to be built in the center. Design work and cost estimating for the building is currently underway and a revised concept plan was submitted to the City Planning office in June 2014. Construction is anticipated to start during 2014 and be completed in 2015. Additional tenants are being pursued for additional space in building #2.

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CopperRidge

Current Status:

Store

Size

Status

Bass Pro SHOPS

120,000 sf

Open

Tire World Auto Service

8,500 sf

Open

Arthur’s Collision Center

16,070 sf

Open

Northgate Storage

114,000 sf

Open

Loaf N Jug #1

8,100 sf

Open

Bourbon Brothers Steakhouse

9,557 sf

Open

Loaf N Jug #2

6,000 sf

3rd quarter 2014

Magnum Shooting Center

33,000 sf

4th quarter 2014

Liquor Store/Retail

18,000 sf

4th quarter 2014

Car Wash

20,000 sf

4th quarter 2014

CB and Potts

9,000 sf

4th quarter 2014

Asian Restaurant

6,000 sf

1st quarter 2015

Kneaders

5,000 sf

2nd quarter 2015

Chick-fil-A

5000 sf

2nd quarter 2015

Sprouts

27,000 sf

2nd quarter 2015

Pet Food

10,000 sf

2nd quarter 2015

Grand Resort Hotel

116 rooms, 32,000sf

4th quarter 2015

indoor water park

Ace Hardware

20,000 sf

Pending

Mellow Mushroom

9,000 sf

Pending

The developer, metro district and CSURA have entered into a redevelopment agreement and a cooperation agreement has been approved by the Colorado Springs City Council. In October 2013 the City Council approved the use of 1% of the general fund sales tax that will be generated by the development (sales tax increment) which will be made available for the extension of Powers Blvd. CSURA has received tax increments that have been generated and has deposited them in a project account to be used when it is determined that all of the funding for Powers Blvd. has been identified. The Copper Ridge Metro District anticipates construction of up to $3 million in additional public improvements in 2014 and is coordinating this work with City officials.

Gold Hill Mesa

URA Period: 2004 - 2029

Location: The Gold Hill Mesa Urban Renewal Area is located in the western area of the City of Colorado Springs. The site is generally bounded on the north by U.S. Highway 24 and Fountain Creek, on the west by South 21st Street, on the south by Lower Gold Camp Road and on the east by the A-1 Village Mobile Home Park and the wooded area to its south. The Villa de Mesa Townhome community located in the center of the Area has been excluded.

The Area includes the site of a former gold processing facility known as the Golden Cycle Mill. The mill operated from 1906 to 1949 processed approximately fifteen million tons of ore from Cripple Creek and Victor area gold mines.

Plan Goals: The cornerstone of the developer’s and the community’s vision for revitalization of the area is the creation of a high quality mixed-use traditional neighborhood development. A combination of uses are proposed including a range of housing products, village commercial, region-serving commercial, transit improvements and infrastructure, all which will further promote redevelopment of the area as a gateway to the City from the west. Multiple pocket parks and trails connect uses and other open space elements.

Current Status: Housing development continues in 2014. Hi-Point Homebuilders, Creekstone and JM Weston Homes are building new single family houses and townhomes. The developer has had 15 closings so far this year. The total closings since the project started have reached 225 (100 multi-family, 125 single family).

The developer has initiated conceptual planning for the commercial area as interest in retail development has increased. The CSURA Board authorized the completion of a conditions survey for the commercial area during the June meeting. Pending approval of an urban renewal plan, a redevelopment agreement will be negotiated in order to determine the amount and improvements to be made utilizing the commercial area tax increment. Any new sales tax increment use will require approval of City Council.

North Nevada Avenue Corridor

URA Period: 2004 – 2029

Location: The North Nevada Corridor Urban Renewal Area is located in central Colorado Springs in the northern segment of the North Nevada Avenue Corridor. The area is bounded by Monument Creek to the west and the I-25 – North Nevada Avenue interchange, including several commercial parcels located along the interstate frontage road, to the north. The Study Area’s eastern border is quite irregular, but generally includes a significant portion of the UCCS campus located along North Nevada Avenue as well as all properties contiguous to the corridor (to the east) and once removed. The intersection of Garden of the Gods and North Nevada Avenue, including properties in the southeast and southwest quadrants then form the southern boundary. The western boundary is generally formed by Monument Creek

Plan Goals: The proposed development character for the Urban Renewal Area includes a variety of land uses and densities that will distinguish one area from another yet create an identity for the whole. Proposed land uses within the Plan include mixed-use, multi-family residential, community retail and lifestyle centers (including local and national retailers); business campus commercial; and, civic, cultural, arts and recreational facilities, together with select transportation and gateway improvements. Redevelopment of the Urban Renewal Area will provide for and promote a greater range and mix of land uses. In order to better support the economic success of the Urban Renewal Area, the Plan promotes the integration of uses, enhanced linkages into and out of the Urban Renewal Area, improved pedestrian and vehicular circulation patterns, parking support, and a level of density beyond that which existed prior to the adoption of the Urban Renewal Plan.

Current Status: University Village Colorado began construction in 2008. The shopping center is anchored by Costco, Kohl’s and Lowes which occupy the western side of the site, along the Monument Creek trail. Smaller, in-line shops and restaurants characterize the east edge of the project, along North Nevada Avenue. Several new tenants have been added in 2014 including: Pita Pit, Over Easy Restaurant and the Colorado Running Company. A new building is under construction on the north end of University Village will house Trader Joes which is expected to open in the fall of 2014.

The Lodges of Colorado Springs, a 156 unit private student housing complex is under construction near the Harley Davidson dealership at the very north end of the URA. This will help alleviate some of the housing demand at UCCS. The CSURA Board approved the plans for a new BMW Dealership near the same area in 2014.

University of Colorado at Colorado Springs: The Lane Center which is the first building in the Health & Wellness Village campus located across from the south entrance to University Village was opened earlier this year. Peak Vista Health has opened a clinic in the building. A feasibility study is currently being completed for a second building in the Health and Wellness Village area as well.

The North Nevada Corridor and UCCS were included as part of the City of Colorado Springs’ City for Champions RTA Grant as well. Proposed improvements include the medical campus and the visual and performing arts building.

City Auditorium Block

URA Period: 2004 – 2029

Location: The City Auditorium Block Urban Renewal Area is located in the eastern portion of Downtown Colorado Springs. The site is generally bounded on the north by East Kiowa Street, on the west by North Nevada Avenue, on the south by East Pikes Peak Avenue, and on the east by West Weber Street.

Plan Goals: The purpose of the City Auditorium Block Urban Renewal Plan is to reduce, eliminate and prevent the spread of blight within the Urban Renewal Area and to stimulate growth and reinvestment within the district boundaries, on surrounding blocks and throughout downtown. A major goal of the Urban Renewal Authority is to contribute tax increments to be used to improve the City Auditorium so that it can become the venue it was in the past for a variety of civic activities.

The cornerstone of the stakeholder’s vision for revitalization of the area is creation of high quality mixed-use developments which vertically integrate a range of residential and non-residential uses at urban densities and supported by strategic public improvements to facilities, parking, and infrastructure improvements within and adjacent to the Plan boundaries. A combination of uses is proposed that will further promote redevelopment of the area as a mixed-use urban enclave in downtown and connect to neighborhoods to the east.

Current Status: Project development has been postponed due to market conditions.

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CityGate

URA Period: 2007 - 2032

Location: The Area is comprised of approximately 16.3 acres in downtown. The boundaries of the CityGate Urban Renewal Area generally include properties south of Cimarron Street, west of Sahwatch Street, north of Rio Grande Street, and east of the BNSF / UP railroad tracks.

Plan Goals: The vision for revitalization of the Area is creation of high quality commercial and mixed-use development which will integrate a range of non-residential uses with residential uses including above ground floor commercial (vertically integrated) where appropriate, as well as property improvements, supported by strategic public investment to infrastructure (including utilities) and parking within and adjacent to the Area boundaries. The CityGate development is positioned to serve as the gateway to the Southwest Urban Renewal Area located directly to the north, and the catalyst for change in this area of downtown. The combination of uses proposed, will further promote redevelopment of the entire Southwest Downtown Area as an urban neighborhood with residential, retail/commercial, lodging and public elements.

Current Status: The northern part of the project area has been cleared of the poor quality industrial buildings and is ready for new development. Interest in the area is increasing since CDOT and the City announced that they will fund the replacement of the Highway 24 interchange within the next 2 years. The Energy Resource Center has purchased an existing office warehouse in the area (116 Rio Grande).

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Copper Ridge

Location: The boundaries of the Area include approximately 289 acres of land. Geographically, it is situated immediately east of Interstate 25 and south of North Gate Boulevard, in northern Colorado Springs within the city limits.

Plan Goals: Based on current market studies and the City of Colorado Springs’ Comprehensive and Long-Range Transportation plans; the specific development objective for the Plan is to construct the remaining segment of Powers Boulevard (a 4 lane expressway) from State Highway 83 to Interstate 25. The primary component of the development will include approximately 640,000 sf upscale retail space. Other proposed uses include: restaurant, office, hotel, mixed-use and entertainment.

Completion of Powers Boulevard is a priority project in the City’s Long-Range Transportation Plan. The roadway will be constructed by a special improvement district, financed with district bonds to be repaid using a portion of the sales and property tax increments generated by the retail center.