COLORADO SPRINGS, Colo.– The landscape of southwest downtown Colorado Springs could be changing.
The changes are part of the city’s master plan and would center on the new Olympic Museum and Hall of Fame.
“It’s an amazing investment and opportunity for Colorado Springs,” said Jariah Walker, Executive Director for the Urban Renewal Authority. “It’s really going to create a whole another downtown and something we can be very proud of.”
The Urban Renewal Authority presented their master plan to City Council Monday afternoon. It’s a project they say could completely change the landscape of downtown Colorado Springs.
“Guiding yourself down almost like a promenade to the entrance to the United State Olympic Museum and Hall of Fame with America the Beautiful Park and America’s Mountain as a backdrop, going to be a pretty powerful vision for this community,” said Walker.
They’re still working on what exactly will be built, but the idea is to have office space, places to live, and a new 19-story hotel.
It all comes with the price tag of $2 billion.
“Funding mechanisms are through a combination of private investment and some public investment and funding with both tax increment financing and through Metropolitan Districts as well,” said Walker.
The renewal authority says as soon as they get the green light, it’s all systems go.
“We have complete cooperation from so many entities from this community and I think everyone’s a team player, everyone wants to see this get done,” said Walker.
The project could be built in 4 phases. If approved, construction on Phase One would start in 2018.>> Click here to learn more about the master plan.