URA Period: 2023 - 2048
Developer Contact
Ray O'Sullivan
RJ Development
Location: The Hancock Commons Urban Renewal Area is comprised of one parcel on approximately 25.01 acres of land. The boundaries of the Plan Area to which this Plan applies is divided by Hancock Expressway with Chelton Road to the east, Clarendon Drive to the west.
Plan Goals:
This proposed project is coming from RJ Development to begin the process to form a URA near the intersection of Chelton and Hancock on the city’s S/E side. This project is currently proposed as mix use with 72 for sale townhomes, 180 for rent apartments and 12,000 square feet of retail/commercial space. The townhome units will be for-sale and priced in the high $300,000s to the low $400,000s to offer attainable housing for the local workforce. The commercial site will include a range of retail, restaurant, and neighborhood service spaces. The developer is proposing 2 phases of development with the first commencing in 2022 (townhomes) followed by phase 2 (apartments and retail) in 2023.
The developer is seeking URA designation because Hancock has some flooding and alignment issues. Currently, Hancock Expressway has a failed under‐crossing which has caused flooding issues. The realignment of Hancock will resolve this issue together with connecting existing channelization.
Infrastructure improvements are a significant component of the development plan. Hancock Expressway will be re-routed and aligned along the north edge of the property. This realignment improves the street network and connectivity to the surrounding neighborhoods and will include an updated drainage system with a gravity sewer to serve the development on site. In addition, the Hancock Expressway realignment creates a safer environment for vehicles and pedestrians by removing the curved section of the road. The Plan Area will also include two detention ponds and a 1.3-acre park/open space.
Current Status:
The board reviewed the draft plan and impact report at the August 25, 2021, board meeting. After obtaining a clearer understanding of securing the needed right of way to make the Hancock public improvements feasible, the board gave the Executive Director permission to work with the taxing entities to engage in forming a retainer agreement and working with a consulting team on the condition study, impact report and draft plan for the Hancock Commons. The CSURA board approved the Cooperation Agreement at the February 22, 2023, meeting. The TIF Agreements have all been approved by the taxing entities.
The City Council approved the Hancock Commons Urban Renewal Plan on February 7, 2023. The CSURA board met on March 8, 2023, and approved the Urban Renewal Agreement for Development of the Hancock Commons Urban Renewal Area.
Developer Contact
Ray O'Sullivan
RJ Development
Location: The Hancock Commons Urban Renewal Area is comprised of one parcel on approximately 25.01 acres of land. The boundaries of the Plan Area to which this Plan applies is divided by Hancock Expressway with Chelton Road to the east, Clarendon Drive to the west.
Plan Goals:
This proposed project is coming from RJ Development to begin the process to form a URA near the intersection of Chelton and Hancock on the city’s S/E side. This project is currently proposed as mix use with 72 for sale townhomes, 180 for rent apartments and 12,000 square feet of retail/commercial space. The townhome units will be for-sale and priced in the high $300,000s to the low $400,000s to offer attainable housing for the local workforce. The commercial site will include a range of retail, restaurant, and neighborhood service spaces. The developer is proposing 2 phases of development with the first commencing in 2022 (townhomes) followed by phase 2 (apartments and retail) in 2023.
The developer is seeking URA designation because Hancock has some flooding and alignment issues. Currently, Hancock Expressway has a failed under‐crossing which has caused flooding issues. The realignment of Hancock will resolve this issue together with connecting existing channelization.
Infrastructure improvements are a significant component of the development plan. Hancock Expressway will be re-routed and aligned along the north edge of the property. This realignment improves the street network and connectivity to the surrounding neighborhoods and will include an updated drainage system with a gravity sewer to serve the development on site. In addition, the Hancock Expressway realignment creates a safer environment for vehicles and pedestrians by removing the curved section of the road. The Plan Area will also include two detention ponds and a 1.3-acre park/open space.
Current Status:
The board reviewed the draft plan and impact report at the August 25, 2021, board meeting. After obtaining a clearer understanding of securing the needed right of way to make the Hancock public improvements feasible, the board gave the Executive Director permission to work with the taxing entities to engage in forming a retainer agreement and working with a consulting team on the condition study, impact report and draft plan for the Hancock Commons. The CSURA board approved the Cooperation Agreement at the February 22, 2023, meeting. The TIF Agreements have all been approved by the taxing entities.
The City Council approved the Hancock Commons Urban Renewal Plan on February 7, 2023. The CSURA board met on March 8, 2023, and approved the Urban Renewal Agreement for Development of the Hancock Commons Urban Renewal Area.
Colorado Springs Urban Renewal Authority
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Phone: 719-385-5714
Mailing Address: PO Box 1575, MC 628 Colorado Springs CO 80901-1575 Street Address: 30 South Nevada Avenue Suite 604 Colorado Springs CO 80903 |
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