Urban Land Institute Panel Briefing Book DOWNTOWN COLORADO SPRINGS | JUNE 2012 TABLE OF CONTENTS Sponsors ...................................................................................................................................................................................................5 The assignment .......................................................................................................................................................................................6 Summary of the challenge ...............................................................................................................................................................6 Questions for the panel ....................................................................................................................................................................7 History .................................................................................................................................................................................................... 10 Downtown Colorado Springs timeline ................................................................................................................................... 10 Development patterns and trends .............................................................................................................................................12 Physical description of the study area ............................................................................................................................................. 14 Study area boundaries .................................................................................................................................................................. 14 Immediate context ...........................................................................................................................................................................15 Transportation and access ........................................................................................................................................................... 18 Physical climate ............................................................................................................................................................................... 19 Cultural climate ...............................................................................................................................................................................20 Economics of the study area .............................................................................................................................................................23 Employment......................................................................................................................................................................................23 Demographics ......................................................................................................................................................................................30 Housing market ....................................................................................................................................................................................32 Downtown housing market ...........................................................................................................................................................32 Colorado Springs housing market ..............................................................................................................................................33 Commercial development ................................................................................................................................................................. 37 Retail ..................................................................................................................................................................................................38 Government ..........................................................................................................................................................................................39 Type of government .......................................................................................................................................................................39 Sources of city revenue .................................................................................................................................................................39 Taxes and financing .......................................................................................................................................................................40 Sales and use tax history ...............................................................................................................................................................41 Total debt for all governmental activities ....................................................................................................................................41 Current sales tax rate and use .....................................................................................................................................................42 Property tax history .........................................................................................................................................................................43 Lodgers and auto rental tax .........................................................................................................................................................43 Downtown governance .....................................................................................................................................................................44 Downtown Partnership ...................................................................................................................................................................44 Downtown Development Authority .............................................................................................................................................44 Business Improvement District .......................................................................................................................................................45 Community Ventures, Inc. ..............................................................................................................................................................45 Current plans affecting the study area .......................................................................................................................................46 Private sector ........................................................................................................................................................................................48 Study area neighborhood organizations ..................................................................................................................................48 Foundations ......................................................................................................................................................................................48 Churches...........................................................................................................................................................................................49 Colleges ...........................................................................................................................................................................................49 Social service providers ................................................................................................................................................................50 Other notable amenities ...............................................................................................................................................................50 uRBAN LAND INSTITUTE PANEL BRIEFING BOOK 3 SPONSORS • Downtown Development Authority • City of Colorado Springs • El Paso County • Nor’wood Development Group • Griffis-Blessing • Colorado Springs Utilities • Pikes Peak Regional Building Department • University of Colorado, Colorado Springs • Colorado College • Pikes Peak Community College • The United States Olympic Committee • The Convention and Visitors Bureau • Greater Colorado Springs Business Improvement District • Colorado Springs Urban Renewal Authority • The Greenway Fund • Downtown Partnership • Greater Colorado Springs Chamber and EDC • Pikes Peak Community Foundation • Council of Neighbors and Organizations (CONO) • Colorado Springs Fine Arts Center • HB&A Architects • Downtown Residents Coalition • Murphy Construction uRBAN LAND INSTITUTE PANEL BRIEFING BOOK 5 THE ASSIGNMENT QUESTIONS FOR THE PANEL Here we get down to the 1. What are the three most critical and effective actions that each of these organizations should take, individually or Summary of the challenge real reason for certain The people of Colorado Springs see tremendous opportunity unsatisfactory conditions in in partnership, to further downtown revitalization? before us. Significant recent projects and policy changes Colorado Springs. The men a. The City of Colorado Springs, including parking enterprise have set the stage