southwest downtown update
SOUTHWEST DOWNTOWN UPDATE // 7.24.2017
Brief Overview of SWD’s History and Goals Ryan Tefertiller Realizing the Experience Downtown Master Plan Susan Edmondson / Sarah Humbargar SW Downtown Vision and Master Plan Framework Kristopher Tackas / Jeff Finn Project Element Updates US Olympic Museum BJ Hybl / Susan Edmondson District Parking Structure Greg Warnke Bridge, Streets, Funding Update Kathleen Krager Introduction to the proposed districts Urban Renewal Plan Jariah Walker Special Financing Districts Carl Schueler Economic Impact of implemented vision Bob Cope & Dirk Draper Next Steps Jeff Greene
“...to create a society that matches our scenery.”
MAYOR JOHN SUTHERS
An “Olympicized” city is one that strives for and achieves excellence across all sectors, elevating the quality of life for ALL.
Southwest Downtown What has been accomplished?
Southwest Downtown What has been accomplished?
Pikes Peak Center
Southwest Downtown What has been accomplished?
America the Beautiful Park
Southwest Downtown What has been accomplished?
US 24 / I-25 Interchange
1971 The Downtown Plan 1992 Downtown Action Plan 1998 Springs Community Improvements Program (SCIP) 2001 Confluence Park Master Plan
Southwest Downtown
2001 SW Downtown Urban Renewal Plan
What planning has occured 2007 Imagine Downtown Plan of Development over the last 20+ years? Imagine Downtown Master Plan & Form Based Code Pikes2009 Peak Center 2012 ULI Panel Study for Downtown Colorado Springs 2013 City for Champions 2016 Experience Downtown Master Plan
1971 The Downtown Plan 1992 Downtown Action Plan 1998 Springs Community Improvements Program (SCIP) 2001 Confluence Park Master Plan
Southwest Downtown
2001 SW Downtown Urban Renewal Plan
What planning has occured 2007 Imagine Downtown Plan of Development over the last 20+ years? Imagine Downtown Master Plan & Form Based Code Pikes2009 Peak Center 2012 ULI Panel Study for Downtown Colorado Springs 2013 City for Champions 2016 Experience Downtown Master Plan
Revitalization of Southwest Downtown key to achieving the Experience Downtown Plan of Development Goals: 1
Economic and Cultural Heart of the Region
2 Diverse and Inclusive Place to Live, Integrated with Adjacent Neighborhoods 3
Celebrating and Connecting with Outdoor Recreation and Exceptional Natural Setting
4 A Place for Healthy and Active Lifestyles 5 A Walkable and Bike-Friendly Center Connected through Safe and Accessible Multi-Modal Networks 6 A Leader in Innovative Urban Design and Sustainability 7
Offering an Unbelievable Visitor Experience
8 A Place for Inspiration, Honoring History and Facing the Future
Revitalization of Southwest Downtown key to achieving the Experience Downtown Master Plan Identified as a “Catalytic Development Site” with critical catalytic elements including: US Olympic Museum Pedestrian Bridge Connecting to America the Beautiful Park and the Legacy Loop Plaza and Pedestrian focused streetscape infrastructure, suited for frequent community celebrations of large and small scales High density mixed use development Multi-modal connectyivity infrastructure and access to rail
Southwest Downtown Master Plan Framework and Vision
RENDERINGS
Vision for SW Downtown Extend the energy and mission of the US Olympic Museum into Downtown
V I EW F R O M AMER I CA TH E B EAUTI F UL PA R K RENDERINGS
V I EW F R O M AMER I CA TH E B EAUT I F U L PA R K
T H E AT E R
PL A ZA S UM M ER
PL A ZA S UM M ER
Vision for SW Downtown Extend the energy and mission of the US Olympic Museum into Downtown New Urban Neighborhood Focused on Health, Wellness and the Outdoors / Great Place to Live, Work, Stay and Play
Vision for SW Downtown Extend the energy and mission of the US Olympic Museum into Downtown New Urban Neighborhood Focused on Health, Wellness and the Outdoors / Great Place to Live, Work, Stay and Play Unique, Vibrant, Memorable and Functional Public Spaces
Vision for SW Downtown Extend the energy and mission of the US Olympic Museum into Downtown New Urban Neighborhood Focused on Health, Wellness and the Outdoors / Great Place to Live, Work, Stay and Play Unique, Vibrant, Memorable and Functional Public Spaces Connect the America the Beautiful Park to the Downtown and Downtown to the Park
Vision for SW Downtown Extend the energy and mission of the US Olympic Museum into Downtown New Urban Neighborhood Focused on Health, Wellness and the Outdoors / Great Place to Live, Work, Stay and Play Unique, Vibrant, Memorable and Functional Public Spaces Connect the America the Beautiful Park to the Downtown and Downtown to the Park Provide an economic-stimulating environment where significant downtown investment
94
Achievable Development Plan for the next 20 years 5.2M SF of Mixed-Use Urban Development
- 4,500 Residential Units
- 750,000 SF of New Office Space
- 150,000 SF of Retail / Restaurant Spaces
- 500 Hotel Rooms
Estimated $1.8B new development / 4 phases Phase 1 development begins 2018
11
W D O W N TO W N D I S T R I C T F R A M E WO R K / M U S E U M P R E C I N C T
13
CUCHARRAS ST
14 11
12
13
11
2 CUCHARRAS ST
4
United States Olympic Museum (USOM)
14
USOM Cafe USOM Olympic Plaza
4
Bridge to America the Beautiful Park
5
Champion’s Boulevard
6
Champion’s Plaza3
7
4 Bridge to America the Beautiful Park Bike Station + Visitor Kiosk
8
Champion’s Boulevard Rooftop Greenhouses
4
1
United States Olympic Museum (USOM)
2
USOM Cafe
1
6
3
11
5
8
12
VERMIJO AVE
7
7
Bike Station + Visitor Kiosk
8
Rooftop Greenhouses
9
Hotel + Condo Tower
10
Office Tower
11
Hotel + Condo Tower Urban Residential9Buildings
12
Interior Block Courtyards
10
Office Tower
11
Urban Residential Buildings
13
Pikes Peak Center12
14
13 Pikes Peak Center County Parking Garage
Interior Block Courtyards
12
8 7
10
9 10
9
CASCADE AVE
Champion’s Plaza
11
6
SIERRA MADRE ST
6
1
SIERRA MADRE ST
USOM Olympic Plaza
5
14
11
2
3
100’
VERMIJO AVE
12
SAHWATCH ST
2
5
SAHWATCH ST
1
3
COSTILLA ST COSTILLA ST
County Parking Garage
200’
100’
400’ 200’
400’
111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
S W / D O W N TO W N R E V I TA L I Z AT I O N U N I T E D S T A T E S O LY M P I C M U S E U M
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PEDESTRIAN BRIDGE
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PUBLIC REALM IMPROVEMENTS
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D I S T R I C T PA R K I N G
11
W D O W N TO W N D I S T R I C T F R A M E WO R K / M U S E U M P R E C I N C T
13
CUCHARRAS ST
14 11
12
13
11
2 CUCHARRAS ST
4
United States Olympic Museum (USOM)
14
USOM Cafe USOM Olympic Plaza
4
Bridge to America the Beautiful Park
5
Champion’s Boulevard
6
Champion’s Plaza3
7
4 Bridge to America the Beautiful Park Bike Station + Visitor Kiosk
8
Champion’s Boulevard Rooftop Greenhouses
4
1
United States Olympic Museum (USOM)
2
USOM Cafe
1
6
3
11
5
8
12
VERMIJO AVE
7
7
Bike Station + Visitor Kiosk
8
Rooftop Greenhouses
9
Hotel + Condo Tower
10
Office Tower
11
Hotel + Condo Tower Urban Residential9Buildings
12
Interior Block Courtyards
10
Office Tower
11
Urban Residential Buildings
13
Pikes Peak Center12
14
13 Pikes Peak Center County Parking Garage
Interior Block Courtyards
12
8 7
10
9 10
9
CASCADE AVE
Champion’s Plaza
11
6
SIERRA MADRE ST
6
1
SIERRA MADRE ST
USOM Olympic Plaza
5
14
11
2
3
100’
VERMIJO AVE
12
SAHWATCH ST
2
5
SAHWATCH ST
1
3
COSTILLA ST COSTILLA ST
County Parking Garage
200’
100’
400’ 200’
400’
111 SOUTH TEJON ST | SUITE 222 CO COLORADO SPRINGS 80903 7 1 9 . 5 9 3 . 2 6 0 0
S W / D O W N TO W N R E V I TA L I Z AT I O N U N I T E D S T A T E S O LY M P I C M U S E U M
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PEDESTRIAN BRIDGE
//
PUBLIC REALM IMPROVEMENTS
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D I S T R I C T PA R K I N G
DOWNTOWN COLORADO SPRINGS
MASSING MASTER PLAN - PROGRAM PERSPECTIVE STACK
Phase 1 Development - Concept Architectural Plans PROGRAM:
TARGET GSF
MASSING GSF
NO. OF FLOORS
RESIDENTIAL
(200,000)
197,000
17
HOTEL
(270,000)
267,000
19
OFFICE
(300,000)
312,000
15
RETAIL
(100,000)
119,000
2
VE
RM
IJO
AV E
CHAMPION’S PLAZA E DR
ST
A
AM RR
E
SI
MUSEUM
N
DOWNTOWN COLORADO SPRINGS - CONCEPT STUDY
OCTOBER 15, 2016
© SOM 2016
20
DOWNTOWNCOLORADO COLORADOSPRINGS SPRINGS DOWNTOWN
MASSING MASTER PLAN - SITE PROGRAM PERSPECTIVE STACK SECTION AA
PROGRAM:
Phase 1 Development - Concept Architectural Plans RESIDENTIAL PROGRAM: TARGET GSF HOTEL
MASSING GSF
NO. OF FLOORS
OFFICE RESIDENTIAL
(200,000)
197,000
17
RETAIL HOTEL
(270,000)
267,000
19
OFFICE
(300,000)
ROOF EL. +270.0
LEVEL 19 LEVEL 18
LEVEL 18 EL. +244.0
LEVEL 17
+230’
RETAIL
(100,000)
LEVEL 19 EL. +257.0
312,000
15
119,000
LEVEL 17 EL. +231.0
LEVEL 16
2
LEVEL 16 EL. +218.0
LEVEL 15
+202’
LEVEL 15 EL. +205.0
LEVEL 14
LEVEL 14 EL. +192.0
LEVEL 13
LEVEL 13 EL. +179.0
LEVEL 12
+164’
LEVEL 12 EL. +166.0
LEVEL 11 LEVEL 11 EL. +153.0
LEVEL 10 LEVEL 10 EL. +140.0
LEVEL 9 LEVEL 9 EL. +127.0
LEVEL 8 LEVEL 8 EL. +114.0
LEVEL 7 LEVEL 7 EL. +101.0
LEVEL 6 LEVEL 6 EL. +88.0
VE
RM
LEVEL 5
IJO
ROOF EL. +66.5
LEVEL 3
LEVEL 5 EL. +75.0
LEVEL 4
AV E
CHAMPION’S PLAZA
LEVEL 3 EL. +52.0
LEVEL 2
LEVEL 2
LEVEL 1
LEVEL 1
GROUND LEVEL
GROUND LEVEL
E DR
LEVEL 2
LEVEL 2 EL. +37.5
A
AM RR
LEVEL 1
LEVEL 1 EL. +18.0
GROUND LEVEL
GROUND LEVEL
LEVEL 4 EL. +62.0
LEVEL 3
E SI
ST
LEVEL 3 EL. +49.0
LEVEL 2 LEVEL 2 EL. +36.0
LEVEL 1 LEVEL 1 EL. +18.0
GROUND LEVEL GROUND FLOOR EL. +00.0
GROUND FLOOR EL. +00.0
PARKING LEVEL 1
P1 LEVEL EL. -13.0
PARKING LEVEL 2 P2 LEVEL EL. -26.0
P1 LEVEL EL. -13.0
MUSEUM
P2 LEVEL EL. -26.0
A
A
DOWNTOWNCOLORADO COLORADOSPRINGS SPRINGS--CONCEPT CONCEPTSTUDY STUDY DOWNTOWN
OCTOBER 15, 2016 OCTOBER
N
©©SOM SOM2016 2016
33 20
DOWNTOWN COLORADO SPRINGS NDG BLOCK | CONCEPT STUDY - JULY 19, 2017
US Olympic Museum Design + Construction Update
VIEW FROM V E R MIJO AV E .
T H E AT E R
PL A Z A W IN T E R
PL A Z A W IN T E R
6. 0 T HE PA R A DE O F NATIO NS S W D O W N TO W N 6.1
U S O LY M P I C M U S E U M A N D H A L L O F F A M E
ANTICIPATIO N BUILDS: WAITING TO ENTER THE O LYM PIC STA D IU M R END ER ING
United States Olympic Museum | Colorado Springs, CO 111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
PROJECT NO
PHASE
14038.00
100 SD
S W / D O W N TO W N R E V I TA L I Z AT I O N
U N I T E D S T A T E S O LY M P I C M U S E U M / / P E D E S T R I A N B R I D G E / / P U B L I STRUCTURE // INFRASTRUCTURE IMPROVEMENTS
1 0 . 0 H A L L O F FA M E S W D O W N TO W N
U S O LY M P I C M U S E U M A N D H A L L O F F A M E
1 0 .0 H A L L O F FA M E O V ERV I EW R EN DER I N G
United States Olympic Museum | Colorado Springs, CO 111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
PROJECT NO
PHASE
14038.00
100 SD
S W / D O W N TO W N R E V I TA L I Z AT I O N
U N I T E D S T A T E S O LY M P I C M U S E U M / / P E D E S T R I A N B R I D G E / / P U B L STRUCTURE // INFRASTRUCTURE IMPROVEMENTS
US Olympic Museum Ground Breaking - 6.10.2017
Construction progress as of 7.21.2017
Recent Achievements and Next Steps Funding Milestones Completed Construction Drawings Completed Building Permit Issued Ground Breaking and Community Celebration Site and Building Foundation work will continue through September Exhibit Designs are being Finalized Scheduled to Open in 2019
Southwest Downtown Public Improvements Parking Structure Bridge, Vermijo/Sierra Madre Pikes Peak Center
COS PARKING ENTERPRISE 2,700 STALLS / 2,400 METERS
What has been completed to date?
Parking Solutions Study was performed for the SWURA and completed in 2016
Phase I of the planned development by the master developer consists a mixed use facility
Subterranean parking 1,000 parking spaces to serve USOM Phase I of commercial development A two-phase RFP was developed to provide Architectural and Engineering design services
June 29, 2017 I Anderson Mason Dale Architects
June 29, 2017 I Anderson Mason Dale Architects
June 29, 2017 I Anderson Mason Dale Architects
Sahwatch St.
Sierra Madre St.
Section through entry at Sierra Madre
June 29, 2017 I Anderson Mason Dale Architects
Section through entry at Sierra Madre What is next?
Parking Solutions Study was performed for the SWURA and completed in 2016
Phase I of the planned development by the master developer consists a mixed use facility
Sierra Madre St.
Subterranean parking 1,000 parking spaces to serve USOM Phase I of commercial development A two-phase RFP was developed to provide Architectural and Engineering design services Phase I - 30% design effort + cost estimation Proposed Funding / Plan of Finance Phase II - Final design and construction documentation Construction Management June 29, 2017 I Anderson Mason Dale Architects
AMERICA THE BEAUTIFUL PARK & LEGACY LOOP CIMINO DRIVE
- 5’
- 4’ - 3’
- 4’
- 4’
- 3’
- 2’ +17.5’ +26’
USOM
+19.5’
+ 5’
S. CUCHARRAS ST.
IJO AVE.
DOWNTOWN SERVICE DRIVE
W . COSTILLA ST.
SOUTH SIERRA MADRE STREET
COMPOSITE METAL PANEL
CONCRETE W/ EPOXY FINISH
X-TEND MESH
STRUCTURAL STEEL
01
E: A place like no other that people remember and return to. Flexible
04
Timeless
r-round use
y to come
02
Destination
05
Catalyst
03
Sustainability
06
Unique
standard
Colorado
n District.
lization and
n Zone
12’ Cafe
Vermijo Street - Existing Conditions
Walk Hell S trip
Angled Parking
Drive Lane
Drive Lane
Parking Med ian Parking
Drive Lane
Drive Lane
Angled Parking
Walk
Planting
Vermijo Street - Existing Conditions
Cafe
Walk W. Qty.
Parking
Stepout
Drive Lane
Drive Lane
Parking Stepout
W. Qty.
Walk
Pedestrian Zon e Cafe
1 13
block 1 3 10 2
7 5
9 4
6
block 2 8 6
12
10
block 3 (future phase) 10
5
8 6
TEJON STREET
11
13 12
CASCADE AVENUE
B.
SAHWATCH STREET
SIERRA MADRE STREET
13 FLEXIBLE EVENT PLAZA
12
13
12
VERMIJO AVENUE 7
7
0
30'
60'
SCALE: 1" = 60'-0"
NORTH
120'
US Olympic Museum Construction Opening
2016 2017
Streetscape Improvements (Vermijo & Sierra Madre) Preliminary Design (30%) Final Design (100%) Contractor Selection Construction - Sierra Madre Construction - Vermijo Installation (Lighting, Landscaping, Other) Opening Bridge to America the Beautiful Park Preliminary Design (30%) Final Design (100%) Contractor Selection Construction Opening Parking Structure Preliminary Design (30%) Public / Private Plan of Finance Final Design (100%) Contractor Selection Construction Opening Phase 1 Development Design Construction Opening
2017 2018
2018 2019
2019 2020
SW Downtown Sources / Uses of Funding: Pedestrian Bridge, Olympic Museum to ATBP Funding Source Amount
Southwest Downtown Public Improvements
USOM Tourism Bonds
$ 7,100,000
PPRTA (Capital A List)
$ 3,500,000
TOTAL COST $10,600,000
Vermijo/Sierra Madre Street Improvements Funding Source Amount
Bridge, Vermijo/Sierra Madre, USOM Commitment USOM RTA Bonds Parking Structure PPRTA (Program Funds) Pikes Peak Center
PPRTA (Maintenance Fund)
$ 250,000 $ 1,700,000 $ 400,000 $ 2,800,000
TOTAL COST $5,150,000
Parking Structure - Costs & Funding Plan TBD (1) Funding for Greenway Trail Improvements. $3.5 M preapproved by PPRTA Board (2) Funding from Intersection Improvement Program Funds, Capitol A List (3) Estimated Cost to repair concrete, mill and overlay existing street blocks
Southwest Downtown Districts Urban Renewal Plan + Special Financing Districts
Purpose of the Urban Renewal Plan: Eliminate and stop the spread of blighted conditions within/adjacent to Southwest Downtown and encourage reinvestment into an underutilized area of Downtown SW Downtown URA History: Existing SW Downtown Urban Renewal Plan was adopted by Council in 2001 Proposed / New URA Plan for Southwest Downtown will back out parcels from that district and propose new objectives and goals The existing URA Plan (2001) will remain in effect on the left over parcels until the plan expires
SW Downtown existing conditions: No curb, gutter or sidewalks Insufficient stormwater infrastructure Crumbling streets and roadways Insufficient Utility Infrastructure Environmental Issues No pedestrian improvements Designated as “blighted”
DRAFT :: 12/22/2015 :: NOT FOR DISTRIBUTION
S W D O W N TO W N P U B L I C P R I VAT E PA RT N E R S H I P S I N S W D O W N TO W N
Urban Renewal Plan + Special Financing Districts P U B L I C P R I VAT E PA RT N E R S H I P R O L E S + TO O L S I N S O U T H W E S T D O W N TO W N ?
SW SW DOWNTOWN DOWNTOWN
URBAN RENEWAL IMPROVEMENT DISTRICT AUTHORITY RESPONSIBILITY // // RESPONSIBILITY COLLECTING 1 TIME PROPERTY TAX FUNDS INCREMENT FOR SALES MULTI-PHASED TAX INCREMENT IMPROVEMENTS IN SWD COMPOSITION // COMPOSITION // MEMBERS APPOINTED COMMUNITY MULTI-MEMBER BOARD TO CSURA BOARD MIX OF MUNICIPALITIES DATE EST. // DATELATE EST.2017 // ASAP FUNDING // FUNDING // EXISTING MILL LEVY = 62.749 MILLS FEE ASSESSMENT SALES TAX INCREMENT
111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
SW DOWNTOWN
SW DOWNTOWN
RESPONSIBILITY RESPONSIBILITY // // DISTRICT OPERATIONS & FUNDING TOOL TO COLLECT MAINTENANCE, & MILL LEVY ONMARKETING RESIDENTIAL RELATED UPGRADES DEVELOPMENT
RESPONSIBILITY RESPONSIBILITY // // FINANCIAL TOOL TO COLLECT DISTRICT OPERATIONS, MILL LEVY ON +RESIDENTIAL MAINTENANCE MARKETING DEVELOPMENT
BUSINESS IMPROVEMENT DISTRICT
METRO DISTRICT
COMPOSITION // // COMPOSITION DISTRICT PROPERTY PROPERTY OWNERS
OWNERS / TENANT DESIGNATED
COMPOSITION // DISTRICT RESIDENTIAL COMPOSITION // PROPERTY OWNERS + PROPERTY OWNERS RESIDENTS
DATE DATEEST. EST. // // MAY / NOV 2016 ELECTION 2017
DATE DATE EST. EST. // // MAY / NOV 2016 ELECTION 2017
FUNDING // // FUNDING MILL LEVY FOR DEBT O&M MILL+LEVY PUBLICIMPROVEMENT IMPROVEMENT FEE FEE PUBLIC
FUNDING // // FUNDING MILL LEVY FOR DEBT O&M MILL+LEVY
S W / D O W N TO W N R E V I TA L I Z AT I O N U N I T E D S T A T E S O LY M P I C M U S E U M
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PEDESTRIAN BRIDGE
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PUBLIC REALM IMPROVEMENTS
//
D I S T R I C T PA R K I N G
Tax Revenues
Mechanics of Urban Renewal
Existing Property produces very little revenue for taxing entities BASE Time
Tax Revenues
Mechanics of Urban Renewal
INCREMENT
FUTURE REVENUES REINVESTED BACK INTO PUBLIC INFRASTRUCTURE
Property produces very little revenue for taxing entities BASE
Time 25 YEARS URBAN RENEWAL PLAN TERM
Mechanics of Urban Renewal Tax Revenues
Significant increase in property value equating to an increase in revenue available for taxing entities once the Urban Renewal term expires
INCREMENT
FUTURE REVENUES REINVESTED BACK INTO PUBLIC INFRASTRUCTURE
Property produces very little revenue for taxing entities BASE
Time 25 YEARS URBAN RENEWAL PLAN TERM
Tax Revenues
Mechanics of Urban Renewal
The accelerated growth in value DOES NOT OCCUR if the tax increment is not reinvested back into public improvements.
Time
CONCEPTUAL DRAFT CONFIDENTIAL WORK PRODUCT
SW D OW N TOW N P R O P O S E D N E W U R A B O U N DA RY I-25
List of Public Improvements
Pedestrian Bridge Pedestrian Improvements / Champion’s Plaza Olympic Museum Site Infrastructure District Parking Structure(s) America the Beautiful Park Improvements Parkside Improvements Stormwater Improvements District Utility Infrastructure Cimino Street Road Extension Cimarron / ATBP Trail Connector Roads / Curb / Gutter Public Art Secondary Streetscapes Environmental Remediation Data Infrastructure URA Eligible Costs
6/15/2017
PROPOSED SW DOWNTOWN URBAN RENEWAL AREA BOUNDARY Parcels included in the SW Downtown BID & MD #
P4a
Development Building Program used to calculate incremental tax revenues
P3 P1 P2
S9b
S9a
M8
S6b
S6a
M4b
M10
Sierra Madre St.
M4a
M3b
M3a
Sahwatch St. M5a S7c
111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903
S W / D O W N TO W N R E V I TA L I Z AT I O N
Kiowa St.
Bijou St.
Pikes Peak Ave.
Colorado Ave.
Vermijo Ave.
Costilla St.
Cimarron St.
Moreno Ave.
Rio Grande St.
Cascade Ave.
6
DRAFT :: 12/22/2015 :: NOT FOR DISTRIBUTION
S W D O W N TO W N P U B L I C P R I VAT E PA RT N E R S H I P S I N S W D O W N TO W N
Urban Renewal Plan + Special Financing Districts P U B L I C P R I VAT E PA RT N E R S H I P R O L E S + TO O L S I N S O U T H W E S T D O W N TO W N ?
SW SW DOWNTOWN DOWNTOWN
URBAN RENEWAL IMPROVEMENT DISTRICT AUTHORITY RESPONSIBILITY // // RESPONSIBILITY COLLECTING 1 TIME PROPERTY TAX FUNDS INCREMENT FOR SALES MULTI-PHASED TAX INCREMENT IMPROVEMENTS IN SWD COMPOSITION // COMPOSITION // MEMBERS APPOINTED COMMUNITY MULTI-MEMBER BOARD TO CSURA BOARD MIX OF MUNICIPALITIES DATE EST. // DATELATE EST.2017 // ASAP FUNDING // FUNDING // EXISTING MILL LEVY = 62.749 MILLS FEE ASSESSMENT SALES TAX INCREMENT
111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
SW DOWNTOWN
SW DOWNTOWN
RESPONSIBILITY RESPONSIBILITY // // DISTRICT OPERATIONS & FUNDING TOOL TO COLLECT MAINTENANCE, & MILL LEVY ONMARKETING RESIDENTIAL RELATED UPGRADES DEVELOPMENT
RESPONSIBILITY RESPONSIBILITY // // FINANCIAL TOOL TO COLLECT DISTRICT OPERATIONS, MILL LEVY ON +RESIDENTIAL MAINTENANCE MARKETING DEVELOPMENT
BUSINESS IMPROVEMENT DISTRICT
METRO DISTRICT
COMPOSITION // // COMPOSITION DISTRICT PROPERTY PROPERTY OWNERS
OWNERS / TENANT DESIGNATED
COMPOSITION // DISTRICT RESIDENTIAL COMPOSITION // PROPERTY OWNERS + PROPERTY OWNERS RESIDENTS
DATE DATEEST. EST. // // MAY / NOV 2016 ELECTION 2017
DATE DATE EST. EST. // // MAY / NOV 2016 ELECTION 2017
FUNDING // // FUNDING MILL LEVY FOR DEBT O&M MILL+LEVY PUBLICIMPROVEMENT IMPROVEMENT FEE FEE PUBLIC
FUNDING // FUNDING MILL LEVY FOR DEBT O&M MILL+LEVY
S W / D O W N TO W N R E V I TA L I Z AT I O N U N I T E D S T A T E S O LY M P I C M U S E U M
//
PEDESTRIAN BRIDGE
//
PUBLIC REALM IMPROVEMENTS
//
D I S T R I C T PA R K I N G
Southwest Downtown Special Districts: Proposed mill levy assessment dedicated to initial and ongoing capital infrastructure and district maintenance/upkeep Business Improvement District
+ Commercial Assessment for Capital and O+M + Public Improvement Fee on Retail Sales for Capital and O+M
Metropolitan Districts No. 1 & 2
+ Residential Assessment for Capital and O+M
Districts will be voluntary and expandable as adjacent property owners choose to be included Vertically-separated Special Districts
Vertically-Separated Districts
LEVEL 20 LEVEL 19 LEVEL 18 LEVEL 17
Residential over ground level retail
Hotel over ground level retail
LEVEL 16 LEVEL 15 LEVEL 14 LEVEL 13 LEVEL 12 LEVEL 11 LEVEL 10 LEVEL 9 LEVEL 8
Residential Beyond
LEVEL 7 LEVEL 6 LEVEL 5
LEVEL 6 LEVEL 4 LEVEL 5 LEVEL 3 LEVEL 4 LEVEL 2 LEVEL 3
LEVEL 1
LEVEL 2 THEATER LEVEL 2
HOTEL CONF LEVEL
LEVEL 1
RETAIL GROUND LEVEL
RETAIL GROUND LEVEL
RETAIL GROUND LEVEL
PARKING LEVEL 1 PARKING LEVEL 2
Residential & Commercial Property located on the Same Parcel
A
A
CONCEPTUAL DRAFT CONFIDENTIAL WORK PRODUCT
SW D OW N TOW N P R O P O S E D D I ST R I CT B O U N DA R I ES
List of Public Improvements
I-25
Pedestrian Bridge Pedestrian Improvements / Champion’s Plaza Olympic Museum Site Infrastructure District Parking Structure(s) America the Beautiful Park Improvements Parkside Improvements Stormwater Improvements District Utility Infrastructure Cimino Street Road Extension Cimarron / ATBP Trail Connector Roads / Curb / Gutter Public Art Secondary Streetscapes Environmental Remediation Data Infrastructure
6/15/2017
PROPOSED SW DOWNTOWN BID + MD BOUNDARIES Parcels included in the SW Downtown BID & MD
Sierra Madre St.
Sahwatch St.
111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
S W / D O W N TO W N R E V I TA L I Z AT I O N
Kiowa St.
Bijou St.
Pikes Peak Ave.
Colorado Ave.
Vermijo Ave.
Costilla St.
Cimarron St.
Moreno Ave.
Rio Grande St.
Cascade Ave.
8
U N I T E D S T A T E S O LY M P I C M U S E U M / / P E D E S T R I A N B R I D G E / / P U B L I C R E A L M I M P R O V E M E N T S / / D I S T R I C T P A R K I N G S T R U C T U R E / / I N F R A S T R U C T U R E I M P R O V E M E N T S / / U R B A N R E N E W A L / / P R I VAT E D E V E LO P M E N T
what is the ROI? Fiscal + Social Impacts
Fiscal Investment = Jobs = Revenue
Investment = $2B over 20 yrs
Permanent Jobs = 5,293
Investment = $2B over 20 yrs
Const. Jobs = 1,358
Net New Sales Taxes = $270M
5,293
Investment = $2B over 20 yrs
1,358
Net New Prop Taxes = $90M
Social What do +5,000 new jobs mean to COS? What can COS do with more revenue? What will 4,500 new residences mean to Downtown? What would happen if community pride in Colorado Springs was elevated?
Goals of City Council Promote Job Creation Build Community & Collaboration Invest in Infrastructure Excel in City Services
Does the transformation of SW Downtown align with your goals?
What actions has Council taken to date showing it does?
Adoption of previous Downtown Planning Efforts
Adoption of existing SWD Urban Renewal Area
America the Beautiful Park
Experience Downtown Master Plan
Dedication of ROW for the US Olympic Museum
LART funds invested in the US Olympic Museum
What remaining actions will Council consider in the next 6 - 8 months?
New SWD Urban Renewal Area Plan End of 2017
Forming Special Financing Districts (BID + MD) Late August / September 2017
Finance Plan for SW Downtown Parking Structure Fall of 2017 / Beginning 2018
Questions?
SOUTHWEST DOWNTOWN UPDATE // 7.24.2017
Brief Overview of SWD’s History and Goals Ryan Tefertiller Realizing the Experience Downtown Master Plan Susan Edmondson / Sarah Humbargar SW Downtown Vision and Master Plan Framework Kristopher Tackas / Jeff Finn Project Element Updates US Olympic Museum BJ Hybl / Susan Edmondson District Parking Structure Greg Warnke Bridge, Streets, Funding Update Kathleen Krager Introduction to the proposed districts Urban Renewal Plan Jariah Walker Special Financing Districts Carl Schueler Economic Impact of implemented vision Bob Cope & Dirk Draper Next Steps Jeff Greene
“...to create a society that matches our scenery.”
MAYOR JOHN SUTHERS
An “Olympicized” city is one that strives for and achieves excellence across all sectors, elevating the quality of life for ALL.
Southwest Downtown What has been accomplished?
Southwest Downtown What has been accomplished?
Pikes Peak Center
Southwest Downtown What has been accomplished?
America the Beautiful Park
Southwest Downtown What has been accomplished?
US 24 / I-25 Interchange
1971 The Downtown Plan 1992 Downtown Action Plan 1998 Springs Community Improvements Program (SCIP) 2001 Confluence Park Master Plan
Southwest Downtown
2001 SW Downtown Urban Renewal Plan
What planning has occured 2007 Imagine Downtown Plan of Development over the last 20+ years? Imagine Downtown Master Plan & Form Based Code Pikes2009 Peak Center 2012 ULI Panel Study for Downtown Colorado Springs 2013 City for Champions 2016 Experience Downtown Master Plan
1971 The Downtown Plan 1992 Downtown Action Plan 1998 Springs Community Improvements Program (SCIP) 2001 Confluence Park Master Plan
Southwest Downtown
2001 SW Downtown Urban Renewal Plan
What planning has occured 2007 Imagine Downtown Plan of Development over the last 20+ years? Imagine Downtown Master Plan & Form Based Code Pikes2009 Peak Center 2012 ULI Panel Study for Downtown Colorado Springs 2013 City for Champions 2016 Experience Downtown Master Plan
Revitalization of Southwest Downtown key to achieving the Experience Downtown Plan of Development Goals: 1
Economic and Cultural Heart of the Region
2 Diverse and Inclusive Place to Live, Integrated with Adjacent Neighborhoods 3
Celebrating and Connecting with Outdoor Recreation and Exceptional Natural Setting
4 A Place for Healthy and Active Lifestyles 5 A Walkable and Bike-Friendly Center Connected through Safe and Accessible Multi-Modal Networks 6 A Leader in Innovative Urban Design and Sustainability 7
Offering an Unbelievable Visitor Experience
8 A Place for Inspiration, Honoring History and Facing the Future
Revitalization of Southwest Downtown key to achieving the Experience Downtown Master Plan Identified as a “Catalytic Development Site” with critical catalytic elements including: US Olympic Museum Pedestrian Bridge Connecting to America the Beautiful Park and the Legacy Loop Plaza and Pedestrian focused streetscape infrastructure, suited for frequent community celebrations of large and small scales High density mixed use development Multi-modal connectyivity infrastructure and access to rail
Southwest Downtown Master Plan Framework and Vision
RENDERINGS
Vision for SW Downtown Extend the energy and mission of the US Olympic Museum into Downtown
V I EW F R O M AMER I CA TH E B EAUTI F UL PA R K RENDERINGS
V I EW F R O M AMER I CA TH E B EAUT I F U L PA R K
T H E AT E R
PL A ZA S UM M ER
PL A ZA S UM M ER
Vision for SW Downtown Extend the energy and mission of the US Olympic Museum into Downtown New Urban Neighborhood Focused on Health, Wellness and the Outdoors / Great Place to Live, Work, Stay and Play
Vision for SW Downtown Extend the energy and mission of the US Olympic Museum into Downtown New Urban Neighborhood Focused on Health, Wellness and the Outdoors / Great Place to Live, Work, Stay and Play Unique, Vibrant, Memorable and Functional Public Spaces
Vision for SW Downtown Extend the energy and mission of the US Olympic Museum into Downtown New Urban Neighborhood Focused on Health, Wellness and the Outdoors / Great Place to Live, Work, Stay and Play Unique, Vibrant, Memorable and Functional Public Spaces Connect the America the Beautiful Park to the Downtown and Downtown to the Park
Vision for SW Downtown Extend the energy and mission of the US Olympic Museum into Downtown New Urban Neighborhood Focused on Health, Wellness and the Outdoors / Great Place to Live, Work, Stay and Play Unique, Vibrant, Memorable and Functional Public Spaces Connect the America the Beautiful Park to the Downtown and Downtown to the Park Provide an economic-stimulating environment where significant downtown investment
94
Achievable Development Plan for the next 20 years 5.2M SF of Mixed-Use Urban Development
- 4,500 Residential Units
- 750,000 SF of New Office Space
- 150,000 SF of Retail / Restaurant Spaces
- 500 Hotel Rooms
Estimated $1.8B new development / 4 phases Phase 1 development begins 2018
11
W D O W N TO W N D I S T R I C T F R A M E WO R K / M U S E U M P R E C I N C T
13
CUCHARRAS ST
14 11
12
13
11
2 CUCHARRAS ST
4
United States Olympic Museum (USOM)
14
USOM Cafe USOM Olympic Plaza
4
Bridge to America the Beautiful Park
5
Champion’s Boulevard
6
Champion’s Plaza3
7
4 Bridge to America the Beautiful Park Bike Station + Visitor Kiosk
8
Champion’s Boulevard Rooftop Greenhouses
4
1
United States Olympic Museum (USOM)
2
USOM Cafe
1
6
3
11
5
8
12
VERMIJO AVE
7
7
Bike Station + Visitor Kiosk
8
Rooftop Greenhouses
9
Hotel + Condo Tower
10
Office Tower
11
Hotel + Condo Tower Urban Residential9Buildings
12
Interior Block Courtyards
10
Office Tower
11
Urban Residential Buildings
13
Pikes Peak Center12
14
13 Pikes Peak Center County Parking Garage
Interior Block Courtyards
12
8 7
10
9 10
9
CASCADE AVE
Champion’s Plaza
11
6
SIERRA MADRE ST
6
1
SIERRA MADRE ST
USOM Olympic Plaza
5
14
11
2
3
100’
VERMIJO AVE
12
SAHWATCH ST
2
5
SAHWATCH ST
1
3
COSTILLA ST COSTILLA ST
County Parking Garage
200’
100’
400’ 200’
400’
111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
S W / D O W N TO W N R E V I TA L I Z AT I O N U N I T E D S T A T E S O LY M P I C M U S E U M
//
PEDESTRIAN BRIDGE
//
PUBLIC REALM IMPROVEMENTS
//
D I S T R I C T PA R K I N G
11
W D O W N TO W N D I S T R I C T F R A M E WO R K / M U S E U M P R E C I N C T
13
CUCHARRAS ST
14 11
12
13
11
2 CUCHARRAS ST
4
United States Olympic Museum (USOM)
14
USOM Cafe USOM Olympic Plaza
4
Bridge to America the Beautiful Park
5
Champion’s Boulevard
6
Champion’s Plaza3
7
4 Bridge to America the Beautiful Park Bike Station + Visitor Kiosk
8
Champion’s Boulevard Rooftop Greenhouses
4
1
United States Olympic Museum (USOM)
2
USOM Cafe
1
6
3
11
5
8
12
VERMIJO AVE
7
7
Bike Station + Visitor Kiosk
8
Rooftop Greenhouses
9
Hotel + Condo Tower
10
Office Tower
11
Hotel + Condo Tower Urban Residential9Buildings
12
Interior Block Courtyards
10
Office Tower
11
Urban Residential Buildings
13
Pikes Peak Center12
14
13 Pikes Peak Center County Parking Garage
Interior Block Courtyards
12
8 7
10
9 10
9
CASCADE AVE
Champion’s Plaza
11
6
SIERRA MADRE ST
6
1
SIERRA MADRE ST
USOM Olympic Plaza
5
14
11
2
3
100’
VERMIJO AVE
12
SAHWATCH ST
2
5
SAHWATCH ST
1
3
COSTILLA ST COSTILLA ST
County Parking Garage
200’
100’
400’ 200’
400’
111 SOUTH TEJON ST | SUITE 222 CO COLORADO SPRINGS 80903 7 1 9 . 5 9 3 . 2 6 0 0
S W / D O W N TO W N R E V I TA L I Z AT I O N U N I T E D S T A T E S O LY M P I C M U S E U M
//
PEDESTRIAN BRIDGE
//
PUBLIC REALM IMPROVEMENTS
//
D I S T R I C T PA R K I N G
DOWNTOWN COLORADO SPRINGS
MASSING MASTER PLAN - PROGRAM PERSPECTIVE STACK
Phase 1 Development - Concept Architectural Plans PROGRAM:
TARGET GSF
MASSING GSF
NO. OF FLOORS
RESIDENTIAL
(200,000)
197,000
17
HOTEL
(270,000)
267,000
19
OFFICE
(300,000)
312,000
15
RETAIL
(100,000)
119,000
2
VE
RM
IJO
AV E
CHAMPION’S PLAZA E DR
ST
A
AM RR
E
SI
MUSEUM
N
DOWNTOWN COLORADO SPRINGS - CONCEPT STUDY
OCTOBER 15, 2016
© SOM 2016
20
DOWNTOWNCOLORADO COLORADOSPRINGS SPRINGS DOWNTOWN
MASSING MASTER PLAN - SITE PROGRAM PERSPECTIVE STACK SECTION AA
PROGRAM:
Phase 1 Development - Concept Architectural Plans RESIDENTIAL PROGRAM: TARGET GSF HOTEL
MASSING GSF
NO. OF FLOORS
OFFICE RESIDENTIAL
(200,000)
197,000
17
RETAIL HOTEL
(270,000)
267,000
19
OFFICE
(300,000)
ROOF EL. +270.0
LEVEL 19 LEVEL 18
LEVEL 18 EL. +244.0
LEVEL 17
+230’
RETAIL
(100,000)
LEVEL 19 EL. +257.0
312,000
15
119,000
LEVEL 17 EL. +231.0
LEVEL 16
2
LEVEL 16 EL. +218.0
LEVEL 15
+202’
LEVEL 15 EL. +205.0
LEVEL 14
LEVEL 14 EL. +192.0
LEVEL 13
LEVEL 13 EL. +179.0
LEVEL 12
+164’
LEVEL 12 EL. +166.0
LEVEL 11 LEVEL 11 EL. +153.0
LEVEL 10 LEVEL 10 EL. +140.0
LEVEL 9 LEVEL 9 EL. +127.0
LEVEL 8 LEVEL 8 EL. +114.0
LEVEL 7 LEVEL 7 EL. +101.0
LEVEL 6 LEVEL 6 EL. +88.0
VE
RM
LEVEL 5
IJO
ROOF EL. +66.5
LEVEL 3
LEVEL 5 EL. +75.0
LEVEL 4
AV E
CHAMPION’S PLAZA
LEVEL 3 EL. +52.0
LEVEL 2
LEVEL 2
LEVEL 1
LEVEL 1
GROUND LEVEL
GROUND LEVEL
E DR
LEVEL 2
LEVEL 2 EL. +37.5
A
AM RR
LEVEL 1
LEVEL 1 EL. +18.0
GROUND LEVEL
GROUND LEVEL
LEVEL 4 EL. +62.0
LEVEL 3
E SI
ST
LEVEL 3 EL. +49.0
LEVEL 2 LEVEL 2 EL. +36.0
LEVEL 1 LEVEL 1 EL. +18.0
GROUND LEVEL GROUND FLOOR EL. +00.0
GROUND FLOOR EL. +00.0
PARKING LEVEL 1
P1 LEVEL EL. -13.0
PARKING LEVEL 2 P2 LEVEL EL. -26.0
P1 LEVEL EL. -13.0
MUSEUM
P2 LEVEL EL. -26.0
A
A
DOWNTOWNCOLORADO COLORADOSPRINGS SPRINGS--CONCEPT CONCEPTSTUDY STUDY DOWNTOWN
OCTOBER 15, 2016 OCTOBER
N
©©SOM SOM2016 2016
33 20
DOWNTOWN COLORADO SPRINGS NDG BLOCK | CONCEPT STUDY - JULY 19, 2017
US Olympic Museum Design + Construction Update
VIEW FROM V E R MIJO AV E .
T H E AT E R
PL A Z A W IN T E R
PL A Z A W IN T E R
6. 0 T HE PA R A DE O F NATIO NS S W D O W N TO W N 6.1
U S O LY M P I C M U S E U M A N D H A L L O F F A M E
ANTICIPATIO N BUILDS: WAITING TO ENTER THE O LYM PIC STA D IU M R END ER ING
United States Olympic Museum | Colorado Springs, CO 111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
PROJECT NO
PHASE
14038.00
100 SD
S W / D O W N TO W N R E V I TA L I Z AT I O N
U N I T E D S T A T E S O LY M P I C M U S E U M / / P E D E S T R I A N B R I D G E / / P U B L I STRUCTURE // INFRASTRUCTURE IMPROVEMENTS
1 0 . 0 H A L L O F FA M E S W D O W N TO W N
U S O LY M P I C M U S E U M A N D H A L L O F F A M E
1 0 .0 H A L L O F FA M E O V ERV I EW R EN DER I N G
United States Olympic Museum | Colorado Springs, CO 111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
PROJECT NO
PHASE
14038.00
100 SD
S W / D O W N TO W N R E V I TA L I Z AT I O N
U N I T E D S T A T E S O LY M P I C M U S E U M / / P E D E S T R I A N B R I D G E / / P U B L STRUCTURE // INFRASTRUCTURE IMPROVEMENTS
US Olympic Museum Ground Breaking - 6.10.2017
Construction progress as of 7.21.2017
Recent Achievements and Next Steps Funding Milestones Completed Construction Drawings Completed Building Permit Issued Ground Breaking and Community Celebration Site and Building Foundation work will continue through September Exhibit Designs are being Finalized Scheduled to Open in 2019
Southwest Downtown Public Improvements Parking Structure Bridge, Vermijo/Sierra Madre Pikes Peak Center
COS PARKING ENTERPRISE 2,700 STALLS / 2,400 METERS
What has been completed to date?
Parking Solutions Study was performed for the SWURA and completed in 2016
Phase I of the planned development by the master developer consists a mixed use facility
Subterranean parking 1,000 parking spaces to serve USOM Phase I of commercial development A two-phase RFP was developed to provide Architectural and Engineering design services
June 29, 2017 I Anderson Mason Dale Architects
June 29, 2017 I Anderson Mason Dale Architects
June 29, 2017 I Anderson Mason Dale Architects
Sahwatch St.
Sierra Madre St.
Section through entry at Sierra Madre
June 29, 2017 I Anderson Mason Dale Architects
Section through entry at Sierra Madre What is next?
Parking Solutions Study was performed for the SWURA and completed in 2016
Phase I of the planned development by the master developer consists a mixed use facility
Sierra Madre St.
Subterranean parking 1,000 parking spaces to serve USOM Phase I of commercial development A two-phase RFP was developed to provide Architectural and Engineering design services Phase I - 30% design effort + cost estimation Proposed Funding / Plan of Finance Phase II - Final design and construction documentation Construction Management June 29, 2017 I Anderson Mason Dale Architects
AMERICA THE BEAUTIFUL PARK & LEGACY LOOP CIMINO DRIVE
- 5’
- 4’ - 3’
- 4’
- 4’
- 3’
- 2’ +17.5’ +26’
USOM
+19.5’
+ 5’
S. CUCHARRAS ST.
IJO AVE.
DOWNTOWN SERVICE DRIVE
W . COSTILLA ST.
SOUTH SIERRA MADRE STREET
COMPOSITE METAL PANEL
CONCRETE W/ EPOXY FINISH
X-TEND MESH
STRUCTURAL STEEL
01
E: A place like no other that people remember and return to. Flexible
04
Timeless
r-round use
y to come
02
Destination
05
Catalyst
03
Sustainability
06
Unique
standard
Colorado
n District.
lization and
n Zone
12’ Cafe
Vermijo Street - Existing Conditions
Walk Hell S trip
Angled Parking
Drive Lane
Drive Lane
Parking Med ian Parking
Drive Lane
Drive Lane
Angled Parking
Walk
Planting
Vermijo Street - Existing Conditions
Cafe
Walk W. Qty.
Parking
Stepout
Drive Lane
Drive Lane
Parking Stepout
W. Qty.
Walk
Pedestrian Zon e Cafe
1 13
block 1 3 10 2
7 5
9 4
6
block 2 8 6
12
10
block 3 (future phase) 10
5
8 6
TEJON STREET
11
13 12
CASCADE AVENUE
B.
SAHWATCH STREET
SIERRA MADRE STREET
13 FLEXIBLE EVENT PLAZA
12
13
12
VERMIJO AVENUE 7
7
0
30'
60'
SCALE: 1" = 60'-0"
NORTH
120'
US Olympic Museum Construction Opening
2016 2017
Streetscape Improvements (Vermijo & Sierra Madre) Preliminary Design (30%) Final Design (100%) Contractor Selection Construction - Sierra Madre Construction - Vermijo Installation (Lighting, Landscaping, Other) Opening Bridge to America the Beautiful Park Preliminary Design (30%) Final Design (100%) Contractor Selection Construction Opening Parking Structure Preliminary Design (30%) Public / Private Plan of Finance Final Design (100%) Contractor Selection Construction Opening Phase 1 Development Design Construction Opening
2017 2018
2018 2019
2019 2020
SW Downtown Sources / Uses of Funding: Pedestrian Bridge, Olympic Museum to ATBP Funding Source Amount
Southwest Downtown Public Improvements
USOM Tourism Bonds
$ 7,100,000
PPRTA (Capital A List)
$ 3,500,000
TOTAL COST $10,600,000
Vermijo/Sierra Madre Street Improvements Funding Source Amount
Bridge, Vermijo/Sierra Madre, USOM Commitment USOM RTA Bonds Parking Structure PPRTA (Program Funds) Pikes Peak Center
PPRTA (Maintenance Fund)
$ 250,000 $ 1,700,000 $ 400,000 $ 2,800,000
TOTAL COST $5,150,000
Parking Structure - Costs & Funding Plan TBD (1) Funding for Greenway Trail Improvements. $3.5 M preapproved by PPRTA Board (2) Funding from Intersection Improvement Program Funds, Capitol A List (3) Estimated Cost to repair concrete, mill and overlay existing street blocks
Southwest Downtown Districts Urban Renewal Plan + Special Financing Districts
Purpose of the Urban Renewal Plan: Eliminate and stop the spread of blighted conditions within/adjacent to Southwest Downtown and encourage reinvestment into an underutilized area of Downtown SW Downtown URA History: Existing SW Downtown Urban Renewal Plan was adopted by Council in 2001 Proposed / New URA Plan for Southwest Downtown will back out parcels from that district and propose new objectives and goals The existing URA Plan (2001) will remain in effect on the left over parcels until the plan expires
SW Downtown existing conditions: No curb, gutter or sidewalks Insufficient stormwater infrastructure Crumbling streets and roadways Insufficient Utility Infrastructure Environmental Issues No pedestrian improvements Designated as “blighted”
DRAFT :: 12/22/2015 :: NOT FOR DISTRIBUTION
S W D O W N TO W N P U B L I C P R I VAT E PA RT N E R S H I P S I N S W D O W N TO W N
Urban Renewal Plan + Special Financing Districts P U B L I C P R I VAT E PA RT N E R S H I P R O L E S + TO O L S I N S O U T H W E S T D O W N TO W N ?
SW SW DOWNTOWN DOWNTOWN
URBAN RENEWAL IMPROVEMENT DISTRICT AUTHORITY RESPONSIBILITY // // RESPONSIBILITY COLLECTING 1 TIME PROPERTY TAX FUNDS INCREMENT FOR SALES MULTI-PHASED TAX INCREMENT IMPROVEMENTS IN SWD COMPOSITION // COMPOSITION // MEMBERS APPOINTED COMMUNITY MULTI-MEMBER BOARD TO CSURA BOARD MIX OF MUNICIPALITIES DATE EST. // DATELATE EST.2017 // ASAP FUNDING // FUNDING // EXISTING MILL LEVY = 62.749 MILLS FEE ASSESSMENT SALES TAX INCREMENT
111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
SW DOWNTOWN
SW DOWNTOWN
RESPONSIBILITY RESPONSIBILITY // // DISTRICT OPERATIONS & FUNDING TOOL TO COLLECT MAINTENANCE, & MILL LEVY ONMARKETING RESIDENTIAL RELATED UPGRADES DEVELOPMENT
RESPONSIBILITY RESPONSIBILITY // // FINANCIAL TOOL TO COLLECT DISTRICT OPERATIONS, MILL LEVY ON +RESIDENTIAL MAINTENANCE MARKETING DEVELOPMENT
BUSINESS IMPROVEMENT DISTRICT
METRO DISTRICT
COMPOSITION // // COMPOSITION DISTRICT PROPERTY PROPERTY OWNERS
OWNERS / TENANT DESIGNATED
COMPOSITION // DISTRICT RESIDENTIAL COMPOSITION // PROPERTY OWNERS + PROPERTY OWNERS RESIDENTS
DATE DATEEST. EST. // // MAY / NOV 2016 ELECTION 2017
DATE DATE EST. EST. // // MAY / NOV 2016 ELECTION 2017
FUNDING // // FUNDING MILL LEVY FOR DEBT O&M MILL+LEVY PUBLICIMPROVEMENT IMPROVEMENT FEE FEE PUBLIC
FUNDING // // FUNDING MILL LEVY FOR DEBT O&M MILL+LEVY
S W / D O W N TO W N R E V I TA L I Z AT I O N U N I T E D S T A T E S O LY M P I C M U S E U M
//
PEDESTRIAN BRIDGE
//
PUBLIC REALM IMPROVEMENTS
//
D I S T R I C T PA R K I N G
Tax Revenues
Mechanics of Urban Renewal
Existing Property produces very little revenue for taxing entities BASE Time
Tax Revenues
Mechanics of Urban Renewal
INCREMENT
FUTURE REVENUES REINVESTED BACK INTO PUBLIC INFRASTRUCTURE
Property produces very little revenue for taxing entities BASE
Time 25 YEARS URBAN RENEWAL PLAN TERM
Mechanics of Urban Renewal Tax Revenues
Significant increase in property value equating to an increase in revenue available for taxing entities once the Urban Renewal term expires
INCREMENT
FUTURE REVENUES REINVESTED BACK INTO PUBLIC INFRASTRUCTURE
Property produces very little revenue for taxing entities BASE
Time 25 YEARS URBAN RENEWAL PLAN TERM
Tax Revenues
Mechanics of Urban Renewal
The accelerated growth in value DOES NOT OCCUR if the tax increment is not reinvested back into public improvements.
Time
CONCEPTUAL DRAFT CONFIDENTIAL WORK PRODUCT
SW D OW N TOW N P R O P O S E D N E W U R A B O U N DA RY I-25
List of Public Improvements
Pedestrian Bridge Pedestrian Improvements / Champion’s Plaza Olympic Museum Site Infrastructure District Parking Structure(s) America the Beautiful Park Improvements Parkside Improvements Stormwater Improvements District Utility Infrastructure Cimino Street Road Extension Cimarron / ATBP Trail Connector Roads / Curb / Gutter Public Art Secondary Streetscapes Environmental Remediation Data Infrastructure URA Eligible Costs
6/15/2017
PROPOSED SW DOWNTOWN URBAN RENEWAL AREA BOUNDARY Parcels included in the SW Downtown BID & MD #
P4a
Development Building Program used to calculate incremental tax revenues
P3 P1 P2
S9b
S9a
M8
S6b
S6a
M4b
M10
Sierra Madre St.
M4a
M3b
M3a
Sahwatch St. M5a S7c
111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903
S W / D O W N TO W N R E V I TA L I Z AT I O N
Kiowa St.
Bijou St.
Pikes Peak Ave.
Colorado Ave.
Vermijo Ave.
Costilla St.
Cimarron St.
Moreno Ave.
Rio Grande St.
Cascade Ave.
6
DRAFT :: 12/22/2015 :: NOT FOR DISTRIBUTION
S W D O W N TO W N P U B L I C P R I VAT E PA RT N E R S H I P S I N S W D O W N TO W N
Urban Renewal Plan + Special Financing Districts P U B L I C P R I VAT E PA RT N E R S H I P R O L E S + TO O L S I N S O U T H W E S T D O W N TO W N ?
SW SW DOWNTOWN DOWNTOWN
URBAN RENEWAL IMPROVEMENT DISTRICT AUTHORITY RESPONSIBILITY // // RESPONSIBILITY COLLECTING 1 TIME PROPERTY TAX FUNDS INCREMENT FOR SALES MULTI-PHASED TAX INCREMENT IMPROVEMENTS IN SWD COMPOSITION // COMPOSITION // MEMBERS APPOINTED COMMUNITY MULTI-MEMBER BOARD TO CSURA BOARD MIX OF MUNICIPALITIES DATE EST. // DATELATE EST.2017 // ASAP FUNDING // FUNDING // EXISTING MILL LEVY = 62.749 MILLS FEE ASSESSMENT SALES TAX INCREMENT
111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
SW DOWNTOWN
SW DOWNTOWN
RESPONSIBILITY RESPONSIBILITY // // DISTRICT OPERATIONS & FUNDING TOOL TO COLLECT MAINTENANCE, & MILL LEVY ONMARKETING RESIDENTIAL RELATED UPGRADES DEVELOPMENT
RESPONSIBILITY RESPONSIBILITY // // FINANCIAL TOOL TO COLLECT DISTRICT OPERATIONS, MILL LEVY ON +RESIDENTIAL MAINTENANCE MARKETING DEVELOPMENT
BUSINESS IMPROVEMENT DISTRICT
METRO DISTRICT
COMPOSITION // // COMPOSITION DISTRICT PROPERTY PROPERTY OWNERS
OWNERS / TENANT DESIGNATED
COMPOSITION // DISTRICT RESIDENTIAL COMPOSITION // PROPERTY OWNERS + PROPERTY OWNERS RESIDENTS
DATE DATEEST. EST. // // MAY / NOV 2016 ELECTION 2017
DATE DATE EST. EST. // // MAY / NOV 2016 ELECTION 2017
FUNDING // // FUNDING MILL LEVY FOR DEBT O&M MILL+LEVY PUBLICIMPROVEMENT IMPROVEMENT FEE FEE PUBLIC
FUNDING // FUNDING MILL LEVY FOR DEBT O&M MILL+LEVY
S W / D O W N TO W N R E V I TA L I Z AT I O N U N I T E D S T A T E S O LY M P I C M U S E U M
//
PEDESTRIAN BRIDGE
//
PUBLIC REALM IMPROVEMENTS
//
D I S T R I C T PA R K I N G
Southwest Downtown Special Districts: Proposed mill levy assessment dedicated to initial and ongoing capital infrastructure and district maintenance/upkeep Business Improvement District
+ Commercial Assessment for Capital and O+M + Public Improvement Fee on Retail Sales for Capital and O+M
Metropolitan Districts No. 1 & 2
+ Residential Assessment for Capital and O+M
Districts will be voluntary and expandable as adjacent property owners choose to be included Vertically-separated Special Districts
Vertically-Separated Districts
LEVEL 20 LEVEL 19 LEVEL 18 LEVEL 17
Residential over ground level retail
Hotel over ground level retail
LEVEL 16 LEVEL 15 LEVEL 14 LEVEL 13 LEVEL 12 LEVEL 11 LEVEL 10 LEVEL 9 LEVEL 8
Residential Beyond
LEVEL 7 LEVEL 6 LEVEL 5
LEVEL 6 LEVEL 4 LEVEL 5 LEVEL 3 LEVEL 4 LEVEL 2 LEVEL 3
LEVEL 1
LEVEL 2 THEATER LEVEL 2
HOTEL CONF LEVEL
LEVEL 1
RETAIL GROUND LEVEL
RETAIL GROUND LEVEL
RETAIL GROUND LEVEL
PARKING LEVEL 1 PARKING LEVEL 2
Residential & Commercial Property located on the Same Parcel
A
A
CONCEPTUAL DRAFT CONFIDENTIAL WORK PRODUCT
SW D OW N TOW N P R O P O S E D D I ST R I CT B O U N DA R I ES
List of Public Improvements
I-25
Pedestrian Bridge Pedestrian Improvements / Champion’s Plaza Olympic Museum Site Infrastructure District Parking Structure(s) America the Beautiful Park Improvements Parkside Improvements Stormwater Improvements District Utility Infrastructure Cimino Street Road Extension Cimarron / ATBP Trail Connector Roads / Curb / Gutter Public Art Secondary Streetscapes Environmental Remediation Data Infrastructure
6/15/2017
PROPOSED SW DOWNTOWN BID + MD BOUNDARIES Parcels included in the SW Downtown BID & MD
Sierra Madre St.
Sahwatch St.
111 SOUTH TEJON ST | SUITE 222 COLORADO SPRINGS CO 80903 7 1 9 . 5 9 3 . 2 6 0 0
S W / D O W N TO W N R E V I TA L I Z AT I O N
Kiowa St.
Bijou St.
Pikes Peak Ave.
Colorado Ave.
Vermijo Ave.
Costilla St.
Cimarron St.
Moreno Ave.
Rio Grande St.
Cascade Ave.
8
U N I T E D S T A T E S O LY M P I C M U S E U M / / P E D E S T R I A N B R I D G E / / P U B L I C R E A L M I M P R O V E M E N T S / / D I S T R I C T P A R K I N G S T R U C T U R E / / I N F R A S T R U C T U R E I M P R O V E M E N T S / / U R B A N R E N E W A L / / P R I VAT E D E V E LO P M E N T
what is the ROI? Fiscal + Social Impacts
Fiscal Investment = Jobs = Revenue
Investment = $2B over 20 yrs
Permanent Jobs = 5,293
Investment = $2B over 20 yrs
Const. Jobs = 1,358
Net New Sales Taxes = $270M
5,293
Investment = $2B over 20 yrs
1,358
Net New Prop Taxes = $90M
Social What do +5,000 new jobs mean to COS? What can COS do with more revenue? What will 4,500 new residences mean to Downtown? What would happen if community pride in Colorado Springs was elevated?
Goals of City Council Promote Job Creation Build Community & Collaboration Invest in Infrastructure Excel in City Services
Does the transformation of SW Downtown align with your goals?
What actions has Council taken to date showing it does?
Adoption of previous Downtown Planning Efforts
Adoption of existing SWD Urban Renewal Area
America the Beautiful Park
Experience Downtown Master Plan
Dedication of ROW for the US Olympic Museum
LART funds invested in the US Olympic Museum
What remaining actions will Council consider in the next 6 - 8 months?
New SWD Urban Renewal Area Plan End of 2017
Forming Special Financing Districts (BID + MD) Late August / September 2017
Finance Plan for SW Downtown Parking Structure Fall of 2017 / Beginning 2018
Questions?
SOUTHWEST DOWNTOWN UPDATE // 7.24.2017
