Plans for the 25-story building, the tallest mixed-use tower in Colorado Springs, have been unveiled. The proposed $270.1 million mixed-use project will be developed immediately south of Centennial Hall and the Pikes Peak Center for the Performing Arts and will include a five-level, 405-space parking garage on the block’s southwest corner; the office building, with its own five-level, 250-space garage. A surface parking lot originally used by 4th Judicial District jurors, two residences converted to offices, and an aged, abandoned warehouse presently occupy the locations.
Colorado Springs’ tallest mixed-use tower Desgin
The skyscraper would be taller than the Wells Fargo Bank Tower, which debuted in 1990 at Cascade and Colorado avenues. The Wells Fargo building includes 15 floors of office space and a penthouse on the 16th floor that stores building equipment. According to a study prepared for The O’Neil Group by economist Tatiana Bailey, director of the University of Colorado at Colorado Springs Economic Forum, the project will have a total economic impact of $491 million over its first seven years, including construction-related spending, building operations, and the creation of 3,760 jobs.
Also Read: Construction at Colorado Credit Union building completed
According to a plan submitted to the city’s Urban Renewal Authority by The O’Neil Group, the Springs-based company that developed the Catalyst Campus for Technology and Innovation on downtown’s east edge and formerly owned a local defense contractor, “the proposed project represents a historic step in the evolution of Colorado Springs’ urban core.”
“After years of planning and major public investment in infrastructure and streetscape upgrades along Vermijo Avenue, the planned project is the city’s first new private construction along what it has designated as a hallmark thoroughfare in the heart of downtown. This type of private investment in high-quality complementary land use is critical to creating vibrancy and commercial activity where there is currently a proliferation of surface parking lots and non-engaging civic buildings such as Centennial Hall and the County Judicial complex, in order to fulfill the city’s vision of establishing Vermijo Avenue as a destination corridor “According to the O’Neil Group proposal.
