By Susan Edmondson, president and CEO, Downtown Partnership
Recent headlines tell the story of a reinvigorated downtown Colorado Springs: construction cranes, new businesses, improved streetscapes and connections, and much more.
Lured by a walkable environment, robust workforce concentration, one-of-a-kind shops, trail connectivity, state designation as a creative district, and the largest concentration of locally owned restaurants in the region, developers and investors are rediscovering the value of Colorado Springs’ city center.
That’s amounted to nearly $675 million in new investment into downtown in recent years, and the pipeline of new projects and investment continues to swell.
The 2018 State of Downtown Colorado Springs Report, produced by the Downtown Development Authority, details trends in real estate development and key lifestyle drivers. Among the highlights in the recently released report:
- The U.S. Olympic Museum broke ground in June 2017, creating demand for new hotels such as the in-construction Hilton Garden Inn (165 rooms) and a planned dual-branded Marriott.
- The downtown residential market is taking off, with more than 600 units in the pipeline. The 172-unit ECO Apartments will open this summer, and more than 200 additional units are under construction this year.
- While the historic Tejon Street spine remains strong, new growth is occurring on Downtown’s edges and in all districts, indicating a healthy pattern of investment.
- The dining scene continues to be a star, with chef-driven restaurants such as IV by Brother Luck and Rooster’s House of Ramen, plus several new breweries and restaurants announced for 2018.
- Visitation to downtown events and attractions soared in 2017, with 825,000 people experiencing arts programming, parades and festivals, Skate in the Park, and cultural anchors such as the Pioneers Museum, Fine Arts Center at Colorado College, Pikes Peak Center for the Performing Arts, and Cottonwood Center for the Arts.
Unlike anywhere else in the state, downtown Colorado Springs is uniquely positioned to provide a fast-paced urban environment that connects seamlessly with our rugged, active outdoor lifestyle. Clearly, the appeal is catching on.