Regionional Opportunity Zones
Downtown Colorado Springs
- Key sectors: Retail, multifamily, IT and cybersecurity
Headlines tell the story of a reinvigorated downtown Colorado Springs: construction cranes, new business, 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.
New investment into downtown in recent years amounts to nearly $1 billion in, and the pipeline of new projects and investment continues to swell. Leveraging a Smart City partnership with Panasonic, a new $1.8 billion mixed-use district will include residential, office, retail, and civic amenities. The downtown residential market has taken off, with 600 units recently completed or in the near-term pipeline.
North Nevada Corridor
- Key sectors: IT and cybersecurity, manufacturing, health, and medical technologies
A major city gateway, the North Nevada Corridor offers a blend of campuses and centers, including culture, as well as higher education with the University of Colorado Colorado Springs.
The corridor is transforming into a high-tech hub. The National Cybersecurity Center is headquartered in a nearly $8 million refurbished facility that also houses Exponential Impact, a non-profit organization focused on entrepreneurship and emerging technologies. Nearby, the University of Colorado Colorado Springs and Cisco Systems Inc. are working together to develop a cybersecurity workforce development center that will offer training curriculum and internship programs, and identify research opportunities.
Also at the campus, one of four projects partially funded through Colorado’s Regional Tourism Act. The $61.4 million William J. Hybl Sports Medicine and Performance Center is a state-of-the-art health facility that opened in 2019.
Colorado Springs Airport
- Key sectors: Manufacturing, aerospace and defense, warehouse/distribution and hospitality
The Colorado Springs Airport, located just minutes from downtown Colorado Springs, offers a vast array of commercial and general aviation services. Growth and development at the airport have been spurred by new flights, an uptick in passengers (more than 1.6 million in 2017) and major growth of the private business. The airport sits on 7,200 acres and boasts a 13,501-foot runway supporting general, commercial and military aviation.
The airport is home to the Peak Innovation Park, a 900-acre site of choice for regional and national companies desiring office, flex, warehouse/distribution r retail business space in a world-class setting. The park offers customized land sites from one acre and build-to-suit, sale or lease availability starting at 10,000 square feet.
Southeast Colorado Springs
- Key sectors: Retail, housing development
Rich with diversity and culture, southeast Colorado Springs is a multi-generational community offering a diverse workforce with ideal proximity to both downtown Colorado Springs and the Colorado Springs Airport. With competitive rates for office and retail space, along with numerous opportunities for infill projects, creative mixed-use redevelopment, and affordable housing development, there is significant potential for private investment to drive economic vibrancy for the area. Within the next three to four years, the area is expected to realize more than $50 million in community pro ramming and infrastructure improvements.
City of Fountain
- Key sectors: Transportation/logistics, retail, hospitality
A gateway to the region, Fountain offers access for growing businesses with urban amenities and close proximity to Colorado Springs, all while preserving its friendly small town character. Investment projects in the pipeline include new commercial and residential development, as well as affordable housing. A rebirth of the Olde Town has revitalized the city’s cultural roots and new business.
- Key sectors: Manufacturing and industrial, construction, retail
Though embedded within Colorado Springs city limits, Cimarron Hills is an unincorporated part of El Paso County. Residents (about 15,000) and businesses benefit from competitively priced real estate in close proximity to Powers Boulevard, a major thoroughfare and state highway that’s home to retail, hospitality and entertainment centers, as well as the Colorado Springs Airport and two U.S. Air Force bases.