COLORADO SPRINGS, Colo. (KRDO) -- Members of the city's Urban Renewal Authority expressed support and concern Wednesday regarding a proposed 25-story apartment project in the southwest corner of downtown.
The developer, the local O'Neil Group, officially announced the project -- which includes an 11-story office building -- by submitting an application to the URA this week.
The project would be on land bordered by Cascade Avenue to the east, Costilla Street to the south, Sahwatch Street to the west and Vermijo Avenue to the north -- essentially two blocks east of the Olympic and Paralympic Museum and a block south of Centennial Hall.
On Wednesday, URA members discussed the project; some see it as a sign of progress in the growing city and a further redevelopment of downtown, while others question the need for the project and criticize the lack of details on affordable housing and rent costs.
The O'Neil Group is declining interviews on the project, citing its fluid nature and likelihood of changes before final approval, but the company released the following statement Tuesday:
"As a growing community that tops national rankings for quality of life and workforce, Colorado Springs is an attractive place for businesses to locate and grow. To support the continued growth of our community, the O'Neil Group Company (OGC) is actively exploring delivery of what will be an iconic addition to the Colorado Springs skyline. The project is expected to include two towers, one supporting the market's first new urban Class-A office space in more than twenty years and the other a high-quality residential tower supporting the influx of professionals and their families into the community.
While the project is still in the design phase, OGC is engaging City administration, local elected officials, and community partners to ensure alignment with the goals of the community and the needs of our rapidly growing city center. As we complete the necessary approval processes and finalize our designs, we will be sharing more details with the community at the appropriate time."
The URA voted to explore hiring consultants to determine if the project qualifies for UR designation, which would make it eligible for tax advantages. Members expect further discussion on the matter at next month's meeting.
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October 29, 2021 at 12:55AM
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High-rise project generates lively debate at start of application process in Colorado Springs - KRDO
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