Colorado Springs is on the rise. Estimated to surpass metro Denver in the next 15 years as the largest city in the state, the city is drawing the attention of businesses, investors and talented professionals alike.
From new companies moving in and the construction of the U.S. Olympic & Paralympic Museum to a growing Creative District and the state’s first In-N-Out Burger, here’s a look at what’s happening in four booming areas of our city.
The Downtown Partnership of Colorado Springs estimates that there has been about $620 million worth of development completed, planned or underway in downtown Colorado Springs in recent years – a major increase over previous years. One key development is the $75 million U.S. Olympic & Paralympic Museum and Hall of Fame in southwest downtown just blocks away from the U.S. Olympic Committee headquarters. Slated to open in 2019, the museum is expected to ultimately draw 350,000 visitors a year and is spurring new developments in the area, including a $20 million, 10-story Hilton Garden Inn, set to be complete in 2019, a new five-story apartment building and several other pending projects.
Anchored by Colorado Springs’ historic downtown Acacia Park, Bijou Street is buzzing thanks to a recent revitalization that’s drawing in younger crowds, restaurants, and retail. The street is home to Story Coffee Co., recently named Colorado’s most beautiful coffee shop by Architectural Digest. Across the street, Ladyfingers Letterpress prints unique greeting cards and paper goods in the shop and offers lettering workshops to locals. Nestled in between coffee and cards are a spin studio, art supplies store, consignment shop, and bicycle shop.
Nevada Street corridor
Serving as a main vein for the city, Nevada Avenue is experiencing new development along its entire path. On the north end, the Ent Center for the Arts, home to multiple theaters, studios, and cultural spaces, is set to open in February, while construction on the William J. Hybl Sports Medicine and Performance Center continues. In the heart of the city, Colorado College completed its renovation of the Tutt Library, which operates on a zero net carbon emissions system, and opened doors to new student housing. South Nevada is undergoing its own renewal, with the addition of new dining, a natural foods grocer and fitness gym.
Moving toward the north end of the metro, a new mixed-use development that was recently purchased by a Denver-area firm is set to go up within the next five years. Victory Ridge will be the new home of restaurants, hotels, retail, and a youth sports complex. It is also the new site for the regional headquarters of In-N-Out Burger, which recently announced its first establishment in Colorado. In-N-Out Burger also plans to build a distribution facility and office along the I-25 corridor to serve up to 50 restaurants within 350 miles of Colorado Springs.