URA Period: 2010 - 2035
Developer Contact Northgate Properties, LLC Mr. Gary Erickson 1295 Kelly Johnson Blvd, Ste. 230 Colorado Springs, CO 80920 719 531-0707 Gary.Erickson@executivecompany.com Location: Approved by the Colorado Springs City Council on May 11, 2010. The area contains 24 legal parcels plus public rights-of-way located within the Copper Ridge at Northgate Metro District. The boundaries of the Area include approximately 289 acres of land. Geographically, it is situated immediately east of Interstate 25 and south of North Gate Boulevard, in northern Colorado Springs within the city limits. Plan Goals: Based on current market studies and the City of Colorado Springs’ Comprehensive and Long-Range Transportation plans; the specific development objective for the Plan is to construct the remaining segment of Powers Boulevard (a 4 lane expressway) from State Highway 83 to Interstate 25. The primary component of the development will include approximately 640,000 sf upscale retail space. Other proposed uses include: restaurant, office, hotel, mixed-use and entertainment. Completion of Powers Boulevard is a priority project in the City’s Long-Range Transportation Plan and will be constructed in two phases. Phase 1 – consists of the I-25/North Gate Powers interchange complex on the west end of the connection and a signalized intersection at Powers and Voyager Parkway on the east end. Phase 2 – consists of a grade separated interchange at Voyager Parkway and Powers on the west end and grade separated Interchange at State Highway 83 and Powers on the east end. North Powers Boulevard will be constructed by a special improvement district (Copper Ridge Metropolitan District), financed with district bonds to be repaid using a portion of the sales and property tax increments generated by the retail center. The name change from Copper Ridge to Polaris Pointe was initiated by the USAFA. Documents For Download
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Current Status: The Spectrum Loop Bridge over Powers Boulevard was completed in April 2018, total cost $2.4 million. By the fall of 2018, Spectrum Loop was completed from the new bridge to Voyager Parkway opening more buildable lots.
Polaris Pointe at Northgate currently has 57 existing shops with more dining, entertainment and shopping coming in 2019. Tax Increment Funding: In March 2019, City Council agreed to adjust the current city sales tax from 1.0% to 1.75% in order to meet the development goal of connecting Powers Boulevard to I-25. URA Funds spent/being spent on Powers Phase 1. Development and Design Objectives Completion of Powers Boulevard is a priority project in the City’s Long-Range Transportation Plan. The roadway will be constructed by a special improvement district, financed with district bonds to be repaid using a mutually agreed upon portion of the sales and property tax increments generated by the retail center. Other objectives include:
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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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