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36-story apartment complex could be coming to downtown Colorado Springs

It would bring 497 units to a plot of land across the street from the U.S. Olympic and Paralympic Museum
Posted at 7:03 PM, Nov 14, 2023
and last updated 2023-11-15 09:24:05-05

COLORADO SPRINGS — A proposed 36-story tall apartment complex could be coming to downtown Colorado Springs. Developers say it would bring 497 units to the southeast corner of Sahwatch and Costilla streets.

"It's exciting to see the level of excitement and investment that's coming into the downtown urban core," said Executive Director of the Colorado Springs Urban Renewal Authority Jariah Walker. "To me, it's the urban environment we've been working all towards".

The joint venture between Colorado Springs-based developer The O'Neil Group and Vela Development was originally proposed 2 years ago as a 25-story apartment complex. However, developers told our news partners at the Colorado Springs Gazette that the size was not financially feasible.

Walker says the project excites him and isn't too concerned with how tall the building will be.

"This doesn't violate any existing zoning code, this is frankly something that has been thought would be coming to downtown for quite some time, and there's other tall buildings downtown too, so I don't see it as an outlier," he told me.

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He believes the process could take a year or more to get full approval from taxing entities like the Library District, School District, El Paso County, and finally City Council.

"It's crazy downtown how many new shops and restaurants there are, and how many people have come here," said lifelong resident Sarah Kenney.

Kenney says she's seen this town change so much since her childhood, especially the downtown area.

"We didn't really come downtown when I was a kid, because there wasn't much going on. I remember going to the Broadmoor for special occasions, and eating at chain restaurants on Powers," she continued.

Kenney isn't opposed to the proposed apartment complex but has one rule.

"As long as it doesn't block the mountains, I think it'll be great".

The Urban Renewal Authority will be meeting in person tomorrow to discuss the proposed building at City Hall in the Pikes Peak Conference Room. You can also attend the meeting virtually from 11:00 a.m. - 1:00 p.m. here.


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