Tag: urban renewal
-
La Fun developers receive coveted low-income housing tax credits for Manitou Springs project
A plan for the first apartments in Manitou Springs to be built since the early 1970s has secured a competitive tax incentive through the state of Colorado. The Colorado Housing and Finance Authority awarded over $2 million in tax credits to the developers of the former La Fun Motel property. In exchange, the project will…
-
City Council approves downtown urban renewal district over concerns of Mill Street neighbors
The Colorado Springs City Council approved a new urban renewal district at the south end of downtown Tuesday, without the delay or community investment some neighbors had sought. The urban renewal district sits at the intersection of Moreno and Cascade avenues. Norwood Development Group and the Sage Hospitality Group plan to build the seven-story boutique…
-
Extended-stay hotel planned for downtown Colorado Springs’ trendy New South End
A seven-story, 181-room extended stay hotel to be built by arguably Colorado Springs’ biggest real estate developer, in partnership with a Denver company that owns and operates dozens of hotels and entertainment concepts nationwide, would be the centerpiece of a new, $100 million-plus development project in downtown’s trendy New South End. Norwood Development Group of…
-
Colorado justices deal blow to urban renewal authorities’ revenue
The Colorado Supreme Court on Monday sided with an interpretation of state law that will result in more revenue going to local governments from urban renewal zones and less money for the entities overseeing redevelopment of those areas. In a case arising from Arapahoe County, the court addressed the division of property tax revenue from…