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Building boom happening in downtown Colorado Springs

Crane downtown Colorado Springs
Posted at 10:32 PM, Oct 06, 2021
and last updated 2021-10-07 00:32:03-04

COLORADO SPRINGS — One of the newest small businesses in downtown Colorado Springs is big on all the changes happening with extensive development in recent years. It's much different in the last five, ten years, said G 44 Gallery, Owner, Gundega Stevens. Stevens grew up in Colorado Springs. She has always been drawn to the downtown area.

A sign of all the growth hovers over the downtown skyline. "Cranes are an indicator of investment in redevelopment downtown,” said City of Colorado Springs Urban Planning Manager, Ryan Tefertiller. In years past you may have spotted a single crane over the city, currently you see a half dozen.

There are six large building going up and six more scheduled to start by the end of year. There are developers in the preliminary phase of many more projects. “I would say over the next five years we'll have dozens of new significant properties in downtown Colorado Springs," said Tefertiller.

A lot of the structures are large multi-level apartment buildings. "By the end of this year we could have close to 2,000 units under construction, but we expect over the coming, probably two or three, maybe five years, to at least double that, if not triple that," said Tefertiller. Condos, office buildings, and retail space are also in the works. In just under ten years investment in downtown Colorado Springs development is approaching $2 billion.

The large builds add incentive for small businesses owners like Stevens’ to be part of the evolving downtown cityscape. "It's just nice to have a business downtown and be part of the change and part of the excitement and the vibrancy that's happening,”