Ten years ago, Downtown Colorado Springs was on the verge of an unprecedented boom, one which would bring thousands of apartments, dozens of businesses and rapid change. Dozens of downtown advocates led by the formidable Susan Edmondson of the Downtown Partnership, set the stage for downtown’s explosive growth, but few anticipated its scale and speed.
Since then, downtown has expanded from the city’s historic core to seven defined downtown districts, stretching irregularly from Cache La Poudre to Fountain and Sierra Madre to Prospect Streets.
As developers were able to reap substantial tax benefits by building in a federal opportunity zone — areas created by the 2017 federal tax cut to spur investment in distressed areas–over $2.3 billion has been invested in downtown projects. Colorado Springs’ opportunity zone attracted some of the nation’s largest multifamily developers, who could also borrow at rock-bottom interest rates up until the Fed began hiking rates in 2022. Thousands of units have been completed, and many more are under construction.
That growth didn’t just happen. It was driven and enhanced by privately launched entities including the Downtown Partnership, Downtown Ventures, the Downtown Development Authority and the Greater Downtown Colorado Springs Business Improvement District. Those organizations help create well-maintained public places and ensure that businesses, residents and visitors are safe and welcome. They also work with potential downtown investors, established and startup businesses.
The city has also benefited immensely from long-sought projects that came to fruition since 2015, most notably, the $91 million Olympic & Paralympic Museum. Designed by Diller, Scofidio + Renfro, it’s one of the most architecturally significant buildings of the 21st century.
Just a few blocks away at 111 West Cimarron, is Weidner Field, home of the Colorado Springs Switchbacks, a professional soccer team. The 8,000-seat stadium was completed in 2021 and hosts events throughout the year.
Head north a few blocks on Tejon, and you’ll get to the Ed Robson Arena, a 3,400-seat ice hockey rink primarily funded by Colorado College (CC) alumnus and hockey player, Ed Robson. CC may be a small liberal arts college, but its hockey teams have always competed at the highest level including several national championships. The arena occupies an entire city block and includes an attached parking garage.
Along with multi-story buildings, rooftop bars and quirky new businesses, many of downtown’s established buildings and businesses continue to thrive. The Pioneers Museum, a beautiful granite building built in 1903 to house the El Paso County Courthouse, is the beating heart of Colorado Springs and its long history. Recently renovated, it’s a joy to visit its changing exhibits. Go on a weekday afternoon, and then walk the streets in the city’s historic center.
Drop in for a drink at the Mining Exchange Hotel, built in 1902 to house the Colorado Springs Mining Stock Exchange. In its heyday during the Cripple Creek gold mining days, the Mining Exchange briefly outshone the NYSE. Those days are gone, and the building now houses a four-star hotel. Great drinks, great meals and comfortable lodging all at $300 a night.
Yet there are even more must-see destinations in the historic center – bars, restaurants, art galleries, boutiques, event spaces, a fine dog park behind the Antlers Hotel and of course the rooftop bar at Lumen8 on South Tejon, above Springhill Suites and Element. The views are unobstructed, the prices are moderate, the sunsets are great.
Relax, have fun and make plans to move to the Springs. After all, your new apartment will be ready in a few weeks…
