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URA Period: 2010 – 2035
Location: 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. The name change from Copper Ridge to Polaris Pointe was initiated by the USAFA.
Completion of Powers Boulevard is a priority project in the City’s Long-Range Transportation Plan and will be constructed in two phases. It was for decades envisioned by local and state transportation officials as an alternative to I-25 that would run the length of the city and connect to the interstate on its north and south ends.
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.
Property and sales tax revenues generated by Polaris Pointe over the last several years are funding the $67 million first phase of the Powers extension. The four-lane road will run from Voyager Parkway to I-25 and includes six bridges and a new interchange. It is targeted for a June opening.
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.
Current Status: On December 11, 2019, the I-25/Powers Blvd. Interchange ground breaking took place. Construction has now started on one of the largest interchanges in our area. The first phase is connecting I- 25 to Voyager Parkway. Completion is anticipated to be in the spring of 2021.
A 301-unit apartment complex, to be called Polaris Junction, will be built on the southwest portion of Polaris Pointe. The Polaris Junction apartments will be ringed by 80 acres of open space. Polaris Junction will have three, four-story buildings, whose amenities would include a clubhouse, pool, dog park, detached garages, and carports.
The Ford amphitheater opened in August 2024 and is doing very well. Amenities include 60 VIP luxury suites with firepits, a rooftop bar with 150 kinds of bourbon, and four two-story restaurants offering seafood, a chophouse menu and more.
Tax Increment Funding: In March 2019, City Council agreed to adjust the current city sales tax from 1.0% to 1.75% to meet the development goal of connecting Powers Boulevard to I-25. URA Funds spent/being spent on Powers Phase 1.