![]() A 7,000 square foot addition to the Colorado Springs City Auditorium in downtown Colorado Springs is one of the initiatives being looked at by city officials to upgrade the historic building. Located at 221 E. Kiowa Street, the auditorium was built in 1923 and for years has been regarded as an impressive example of Classical Revival design. The structure was placed on the National Register of Historic Places in 1995. City officials have long wanted to bring the structure up to date, with members of the Colorado Springs Downtown Review Board just recently giving its approval to that effort. Spearheaded by a non-profit group called the Community Cultural Collective, renovation could expand the usual floor space in the building from its current 40,000 square feet to around 90,000 square feet. A reconfigured basement will see the construction of an orchestra pit, with a two new floor levers replacing current arena seating. It is thought that it will cost at least $53 million to begin work on the project, with a rough 2023 construction launch. Although that funding has yet be secured by backers of the project, city officials have said they would like to see the upgrade completed by the fall of 2024. By Garry Boulard
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![]() A 2,334 square foot building reminiscent of the days when Mesa, Arizona was a major grain producer is up for $3 million. The F.P. Nielson & Sons Tower was built in 1938 and is, at 100 feet in height, one of the most identifiable historic industry structures in southern Arizona. The building for decades functioned as a grain elevator before being sold to an out of state interest and eventually closed. Listed with the Scottsdale offices of Sotheby’s International Realty, the structure is regarded as a Class C building and sits within a defined Opportunity Zone. Cities throughout the West with still-existing flour mills and grain silos have taken steps to preserve and repurpose them, with the most notable example being the Hayden Flour Mill in Tempe, dating to 1918. Earlier this year the City of Tempe entered negotiations with a private entity to redevelop that structure and site. By Garry Boulard If Voters Approve Big Bond, New Mexico State University is Poised for Important Facility Projects11/3/2022 ![]() A series of big-ticket construction and upgrade projects may soon be in the offing for the Las Cruces campus of New Mexico State University, depending upon the results of a bond election scheduled for next week. Altogether, NMSU is asking voters to approve a total of $51.1 million in 2022 General Obligation Bond funding. The largest project will see $22.5 million dedicated to the replacement of the school’s 50-year-old Thomas & Brown Hall. New construction will see multi-disciplinary lab space designed to encourage both student and faculty project collaborations. Renovations to both the Health and Social Sciences Building, as well as the O’Donnell Hall, will reconfigure spaces in those two structures, and see the creation of more smart classrooms, with $13.5 million in bond funding set for the two projects. Exactly $10.5 million will target the Phase 3 renovation work at the New Mexico Department of Agriculture’s NMSU campus headquarters. The project will see the building of new office space, and comprehensive infrastructure upgrades. Finally, bond funding to the tune of $2 million will be dedicated to the modernization and expansion of the school’s Nursing Skills and Simulation Center. Altogether, voters in New Mexico next week will decide on just under $216 million in bond funding for a variety of higher education facility projects across the state. By Garry Boulard ![]() While reports are plentiful regarding a declining national economy and the possibility of a recession by early next year, U.S. businesses are displaying a level of confidence not normally associated with down times. So says a report published by the U.S. Chamber of Commerce in which the group’s chief economist, Curtis Dubay, notes that “businesses of all sizes, sectors, and industries report feeling pessimistic about the future of the economy.” Yet, adds Dubay, those same businesses “continue to hire, raise wages, and make new investments, and they expect to continue to do so.” This same duality also applies to consumer behavior: “Usually, when consumers feel badly about the economy, they pull back on spending,” writes Dubay, before noting data showing that total spending increased faster than inflation in August. Moreover, in September, retail sales “grew at the same pace as our stubbornly high inflation, which remains near a 40-year high at 8.2%. For businesses, according to a U.S. Chamber Middle Market Index, 48% of middle market executives surveyed said they expected to see an increase in revenue. The numbers are similarly bullish in the small business community: “The number of small business owners and decision makers saying the economy is in poor health is now more than twice as much as those saying it’s in good health.” Yet, continues Dubay: “Small businesses generally report positive sentiment about the overall health of their businesses, contributing to secondhand pessimism.” That “secondhand pessimism” comes when respondents have been following reports in the media centering on a national economic decline but may not be seeing it in their own businesses. In fact, according to a recently released Conference Board Survey of chief executive officers, some 44% said they expected to increase their workforce in the next 12 months, with a substantial 85% saying they expect to increase wages by 3% of more. Noting that the fortunes of both large and small businesses can “change quickly,” Dubay adds that “for now, it’s a good sign that the pessimism is secondhand where it can cause much less trouble.” By Garry Boulard ![]() A move that will drastically change the substance and purpose of a 155-acre sweep of land in one of Denver’s most historic neighborhoods has cleared an important process hurdle. The 18-hole Park Hill Golf Course is located at 4141 E. 35th Avenue and has been the subject for months now of studies and public input meetings reimagining the course, which closed in 2018, as a mixed-use development site. Now members of the Denver Planning Board have given their approval to a comprehensive proposal that will see the construction of some affordable housing at the site, as well as playgrounds, a splash pad, restrooms, a pet park, and athletic fields, among other amenities. Overwhelmingly, the plan, especially reflecting the desires of area residents, will emphasize open space. According to city documents, at least 100 acres will be set aside for parks and walking trails. The golf course was purchased in 2019 by the Denver-based Westside Investment Partners. Plans for the golf course, which was originally opened in 1931 on the site of the former Clayton College Dairy Farm, will now be reviewed by the Denver City Council. Voters in April may be tasked with a proposal to remove a historic conservation easement on the property in question that will allow for non-golf course development and construction. By Garry Boulard ![]() A long-discussed plan to extend a popular walking path in Santa Fe County could become reality if voters next week approve a $5 million bond to fund the project. As envisioned, the extended path would run from Siler Road to the San Ysidro Crossing, running adjacent to the Santa Fe River. At the San Ysidro Crossing, the trail would connect to an already-existing bike trail heading to nearby Romero Park. The project is officially called the Santa Fe River Greenway Trail. Out of the $5 million bond, exactly $3.2 million would go directly for the acquisition of property needed for the project as well as to the design and building of the trail. That figure would be bundled with another $3.5 million approved by county voters in 2020 to extend the path. That path, and the planned extension, is regarded as a multi-use trail, meaning that it is also used for pedestrians and those walking their dogs. The Santa Fe River Greenway project is ultimately designed to build 15 miles of trails. In a brief released by the Santa Fe Watershed Association it is noted that the completion of the trail project will “revive the traditional use of the corridor as a transportation route and focus community members and visitors on the historical role of the Santa Fe River” in connecting to adjacent communities. By Garry Boulard ![]() Job openings exceeded 10.7 million in September, according to numbers just released by the Bureau of Labor Statistics, surpassing analysts’ expectations. It had earlier been thought that the number of job openings in September would drop to around 10 million, from the 10.7 million recorded in August. In its Job Openings and Labor Turnover Summary, the BLS noted that while the 10.7 million job openings figure was high, “the number of new hires edged down to 6.1 million.” That 6.1 million was the lowest in that category since early 2021. The greatest amount of job openings was seen in the nation’s accommodations and food services industries, at just over 215,000; and in health care and social assistance, with around 115,000 openings. The transportation, warehousing, and utilities sector combined saw some 111,000 job openings. Job openings decreases were meanwhile seen in the wholesale trade sector, off by 104,000; and finance and insurance, down by 83,000. The job openings numbers have been nothing if not erratic since the early 2020 onset of the Covid-19 pandemic. One month after that outbreak, job openings stood at 4.7 million; increasing to 9.2 million a year later. Figures reached a peak in March of this year when the BLS reported 11.8 million job openings, only to watch that figure generally decline throughout the summer. Looking at the latest statistics, Forbes said it all underlines that the “demand for workers is strong and the labor market is holding up well.” The Wall Street Journal agreed, saying the new figures are “signs of a healthy labor market that has cooled slightly compared with the first half of this year.” By Garry Boulard ![]() The City of Phoenix has taken an important step forward for a project that could see the construction of a new state freeway. Members of the Phoenix City Council have given their approval to selling some 86 vacant acres of city land to the Arizona Department of Transportation in order build the proposed Arizona State Route 30. That new freeway, once built, is expected to considerably lessen congestion on the east-to-west Interstate 10. In so doing, the new route will also provide an alternative pathway between highway loops 202 and 203. The West Valley project has been in the talking and studying phase for well over a decade, with transportation officials saying the new route is needed to accommodate vehicular traffic in southern Arizona that has more than doubled since the year 2000. While both Phoenix and State of Arizona officials have said the selling of the 86 acres is crucial to the eventual construction of the freeway, funding for the project has not yet been secured. By Garry Boulard ![]() A prominent rescue mission based in Fort Collins that has served tens of thousands of residents in the last decade has revealed plans for the building of a new shelter facility. Located at 316 Jefferson Street, the Fort Collins Rescue Mission is tasked with providing meals, shelter, and rehabilitative programs for those without a permanent place of residence. Earlier this year, the organization announced plans to build a new shelter that will be opened 24 hours a day, 7 days a week, on a site at the intersection of North College Avenue and Hibdon Court. As envisioned, the shelter will have enough room for upwards of 200 beds, doubling the group’s current capacity. A preliminary design for the project has now been submitted to the City of Fort Collins calling for a building with two wings surrounding a common space. One wing, on the south side of the facility, will house administrative offices, a cafeteria, and storage space. The second wing, on the building’s north side, will house the actual shelter space. Officials with the mission say the new space is needed to keep up with demand. According to a study released late last year by the National Alliance to End Homelessness, more than 600 people were regarded as “chronically homeless,” in Fort Collins, a category up by 15% over 2020. Plans for the new Fort Collins shelter must be submitted to the city’s Planning and Zoning Commission. A timetable for when construction might begin on the new facility remains to be determined. By Garry Boulard ![]() Investment in non-residential structures has decreased once again, according to numbers compiled by the Associated Builders and Contractors, making up an overall annual decline rate of 15.3%. The decline marks the 19th such decrease going back 3 years. The decrease comes as the federal Bureau of Economic Analysis has just released figures showing that the overall U.S. economy expanded during the third quarter of this year at a 2.6% annualized rate. In a statement, Anirban Basu, chief economist with the ABC, noted that the “major increases in borrowing costs in 2022 has yet to make its statistical mark on much of the economy, but real non-residential investment in structures posted its steepest contraction since the pandemic.” That decline in fixed investment declined by 2.3% in 2020, only to return last year with a 7.4% gain. In the first quarter of this year, the numbers were up by 4.8%, only to fall by 5.0% this spring, and now, for July to August of this year, are off by 4.9%. Despite these trend lines, said Basu, “contractors remain somewhat upbeat about the outlook, and more than 47% of contractors expect their sales to rise over the next six months, according to ABC’s Construction Confidence Index.” Indeed, readings from that index released two weeks ago revealed contractor confidence in three crucial areas: sales, profit margins, and staffing. By Garry Boulard |
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