The stalled Colorado Crossing project has been revived through new owners.
In October, Westside Investment Partners of suburban Denver paid $22.1 million for the 153-acre property southeast of Interquest and Voyager Parkways. The new owners have renamed the stalled Colorado Crossing project “Victory Ridge” and have recently released a rebranding campaign, along with details of finishing the partially built office building, movie theater complex, and parking garage already on site. Colorado Springs developer Jannie Richardson first launched the Colorado Crossing project a decade ago. Her vision was of 1.6 million square feet of stores, restaurants and offices, 1,600 residences, and a 14-screen theater. Then the economy took a dive, and Richardson’s critics accused her of mismanaging the project. Work on the project stopped in 2008, and Richardson’s development company filed for bankruptcy in 2010. Other plans for the area include new hotels, apartments, stores and restaurants. Developers also intend to set aside 55 acres dedicated to the Larry Ochs Sports Complex. There are plans for a 16-acre multi-family housing development, and the most recent addition to the plan is the Scott Hall Field of Dreams. The sports complex is expected to include baseball diamonds, multipurpose fields, concessions, restrooms and space for picnics.
The sports complex and theater are expected to draw thousands to Victory Ridge, which will spur demand for restaurants, hotels and stores. The concept plan also envisions a hotel next to the partially constructed 1,100-space parking garage, which Westside has plans to finish.
Westside also hopes to resume work on a four-story 110,000 square foot office building within six months. It also plans to complete a pair of two-story buildings on either side of the theater complex. The full 153-acre project is expected to be completed over three to seven years.
