‘It’s a wonderful opportunity for Colorado Springs,’ officials give update to timeline of potential 36-story development

COLORADO SPRINGS, Colo. (KKTV) - Local authorities are looking into what could end up being the tallest building in Colorado Springs, providing an update on a possible timeline.

The O’Neil Group submitted an application to the Colorado Springs Urban Renewal Authority with a plan laid out on where this building could go and how much it might cost. It’s an updated version of what was proposed in 2021.

The building would be 36 stories, housing ground-level retail space and hundreds of luxury apartments, the rent of which would be as little as $1,817 and as much as $9,810. Adjacent to that, there would be a parking complex, as well.

“It’s a wonderful opportunity for Colorado Springs and for this area in particular,” said Jariah Walker, the executive director for the Colorado Springs Urban Renewal Authority. “And frankly, it’ll be a game-changer for the downtown area. We already have some tall buildings in the vicinity, but this will be the tallest.”

Walker said he expects after this development, more will follow, helping completely change the southern area of Downtown Colorado Springs, adding apartments and businesses. He said the area could become a dense, pedestrian-friendly, urban area made for families.

It’s in the very beginning stages of research right now, but should it be approved by other city officials, Walker said he expects construction to begin in 2025 at the very soonest, as opposed to the earlier timeline of 2023.

He also said it’s zoned for unlimited height.

“As long as the market supports it, there’s no height restrictions on this particular site and this developer feels like they’ve got the market to justify the height and the rent on the units,” Walker said.

One local business owner in the area said he’s excited for this, and future developments.

“As far as business-wise though, I welcome it,” said Pat Rigdon, the owner of Mary’s Mountain Cookies. “I mean the more people that are living downtown, which is a great place I think for people to live so they can walk to all the amenities, all the shopping, I mean that’s great for me and great for the rest of the businesses and restaurants downtown.”

But one woman experiencing homelessness said it shows the city needs to rethink their priorities. She said there are people living in the development area who would be pushed out without any sort of support.

“These new developments that they’re building out over here, it’s beautiful, but right over there used to be my home,” said Crystal Jack, gesturing to a newly-developed area near the corner of Costilla and Sahwatch, where the 36-story building is planned to go. “I feel like they should have more shelter for us, more showers.”

Jack said before the city plans new developments, she believes the city should figure out how to help the homeless.

But Walker said that is part of the plan.

“There’s been an actual plan to try to get homeless individuals help,” Walker said. “So, I don’t see this project pushing anybody out just because it is in a small block environment and there’s already buildings that already exist on it.”

The plans for the building are being researched before going before more officials to plan out funding and construction. While the building likely wouldn’t be funded by taxpayers, Walker said it would benefit many with higher-paying jobs.

It’s planned to be built near the Olympic and Paralympic Museum, but there is no official timeline as of now.