Colorado - Fri. 02/14/25 A Free Business Publication from Alpine Bank View Online View in Browser
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NOTICE OF HOLIDAY CLOSURE FROM ALPINE BANK

 
 
 
All Alpine Bank branches will be closed in observance of Presidents' Day on Monday, Feb. 17. Alpine Bank invites you to use Alpine Online or the Alpine Mobile app for 24/7 banking access. Learn more at the link below.
 
- Alpine Bank
 

SPIRIT REJECTS ANOTHER BUYOUT BID FROM FRONTIER

 
 
 
Denver-based Frontier Airlines tried to sweeten its buyout offer for embattled Spirit Airlines, which again rejected Frontier's bid in favor of charting a course to emerge from Chapter 11 bankruptcy as a standalone business. The low-cost carrier, based in Dania Beach, Fla., turned down an acquisition offer from rival Frontier worth nearly $2.16 billion. Frontier proposed in January to combine with Spirit in a transaction that offered Spirit’s stakeholders $400 million in debt and 19 percent of Frontier’s common stock. Frontier revised the proposal and eliminated the requirement that Spirit raise $350 million through an equity rights offering, the company said in a filing Wednesday to the U.S. Securities and Exchange Commission.
In a letter to Spirit CEO Ted Christie, which was included with Frontier's SEC filing, Frontier CEO Barry Biffle and Chairman William Franke called that change "a significant concession." The airline's filing notes that Spirit has said publicly it intends to restructure and remain a stand-alone business instead of striking a deal with Frontier. Spirit Airlines, Inc. filed for Chapter 11 bankruptcy in November 2024. It said Tuesday that Frontier made its newest proposal Feb. 4, but Spirit's board reviewed and rejected it because it did not address “certain material risks and issues previously identified by the company.”
 
- Denver Business Journal, 02.13.25
 

DENVER RESTAURANT EARNS TOP SPOT ON YELP'S TOP 100 PLACES TO EAT IN 2024

 
 
 
A Denver-area restaurant has earned a spot on Yelp’s prestigious list of the Top 100 Places to Eat in the U.S. for 2025, standing out among the nation’s most celebrated dining destinations. Ambli Global at Belleview Station earned a spot on the list, ranking No. 96. It was the only Colorado restaurant to receive recognition, standing out among a diverse mix of fine-dining establishments, fast-casual eateries, and food trucks across the country. The restaurant currently holds a rating of 4.3 stars out of over 200 reviews on the platform.
Located in Denver’s Belleview Station, Ambli Global prides itself on offering a welcoming, globally inspired dining experience, where guests are treated like family. The restaurant brands itself as “not a steakhouse” but rather, a celebration of Indian, Asian, East African, and Latin American flavors, crafted with fresh ingredients and a focus on authenticity. Co-owned by Pariza Mehta and Kelly Morrison, alongside Chef Ricardo Morffín, the owners said they emphasize “ambiance, quality and passion." In addition to the DTC location, Ambli also operates Ambli Kitchen + Bar in Colorado Springs.
 
- Denver Gazette, 02.12.25
 

CITY TO OPEN DENVER COLISEUM AS EMERGENCY HOMELESS SHELTER

 
 
 
High demand at emergency cold weather overnight shelters has prompted Denver’s housing department to open a fifth shelter at the Denver Coliseum starting Saturday. At the onset of more frigid weather, Denver’s Dept. of Housing Stability (HOST) is extending its current cold weather shelter activation until at least Thursday, Feb. 20. Until then, overnight temperatures in Denver expect to reach below the city’s emergency housing threshold of 25 degrees. The shelters are located at The Aspen shelter (former DoubleTree hotel), 4040 Quebec St., and at city facilities located at 2601 W. 7th Ave. and 375 S. Zuni St. An additional 24/7 shelter will open at 3 p.m., Saturday at the Denver Coliseum, 4600 N. Humboldt St. Beds are set up along the hallways outside the bowl area. Additionally, Denver offers shelter access points for specific homeless demographics. Those sites include:
  • For individual men: Denver Rescue Mission Lawrence Street Community Center, 2222 Lawrence St.
  • For individual women: Samaritan House, 2301 Lawrence St.
  • For youth ages 15-20: Urban Peak, 1630 S. Acoma St.
  • Families in need of shelter should call the Connection Center at 303-295-3366.
 
- Denver Gazette, 02.13.25
 

X GAMES ANNOUNCES THREE SUMMER STOPS

 
 
 
The X Games action sports franchise announced three stops for its upcoming summer schedule. Japan, Salt Lake City, and Sacramento will each host X Games contests in the coming months. The Utah State Fairpark and Event Center will host the June 27-29 stop in Salt Lake City, with Moto X, BMX, and skateboarding competitions making up the three-day festival. Jeremy Bloom, who was named CEO in December and made his public debut in the role as part of X Games Aspen in January, said he wants to see the franchise expand its footprint worldwide. This includes multiple stops — ideally four in the summer and four in the winter — plus the creation of the “X Games League” for 2026. Around 100 athletes will compete for more than $1 million in prize money in Utah. This year happens to mark the 30th anniversary of X Games, which ESPN created in 1995.
The other X Games summer stops are slated for June 20-22 in Osaka, and Aug. 22-24 in Sacramento. Utah will serve as the second of the three announced locations. While X Games has hosted winter events outside of the U.S. over the past couple of decades, Aspen’s Buttermilk Ski Area has served as the exclusive home for the primary winter contest since 2002. With the last Aspen contract expired and X Games looking to add locations, it’s unknown whether or not it will return to Buttermilk in the future. Bloom and many athletes have voiced their support for its return.
 
- Aspen Times, 02.13.25
 

CITY OF GRAND JUNCTION FINALIZES SALT FLATS PURCHASE

 
 
 
The city of Grand Junction has purchased the 21.78-acre “Salt Flats” property on 28 Road to be developed into affordable housing. The property will be used to help with Grand Junction’s lack of housing options for people making less than $56,000 per year. The city received a $2.2 million grant from the Colorado Housing and Finance Authority Land Banking Program to help finance the purchase, with the city providing a $1 million match. The city also received a $2 million More Housing Now grant from the Colorado Dept. of Local Affairs to fund infrastructure improvements on the site. The city will consider mixed-use, commercial and market-rate housing options for the site, and has released a request for letters of interest seeking “qualified and experienced developers to design and construct housing units on the site.” The property was previously owned by Enstrom Candies. A separate portion of the parcel is being developed into a new warehouse for the company.
 
- GJ Daily Sentinel, 02.12.25
 

CHIMNEY ROCK RECRUITING VOLUNTEERS

 
 
 
Chimney Rock Interpretive Association is recruiting volunteers for 2025. To learn more about volunteering at Chimney Rock National Monument, there will be a meeting from 1 to 2 p.m. on Thursday, Feb. 27 at the Ruby Sisson Library, 811 San Juan St., in Pagosa Springs. Volunteer opportunities are varied and appeal to a large range of interests. Positions available include:
  • Tour guide: Archaeology/culture, astronomy, geology, birding; Plaza and Mesa
  • Hosts: retail (gift shop); education – school week and youth workshops
  • Maintenance: life at Chimney Rock; lecture series; and others
Anyone can be a volunteer. CRIA offers volunteer orientation on May 2 and 3 and throughout the season by working with ad hoc mentors. Volunteers can volunteer as often as they like. Volunteers can set their own schedule at the beginning of each year and pick up other opportunities later in the season. For more information, call 970-731-7133 or visit online at chimneyrockco.org.
 
- Durango Herald, 02.12.25
 

PRESIDENTS' DAY WEEKEND WILL BRING SNOW & TRAFFIC TO THE MOUNTAINS

 
 
 
With up to a foot of fresh snow on the way, it is shaping up to be a busy Presidents’ Day weekend in Colorado’s High Country. The holiday consistently ranks as one of the busiest winter weekends based on traffic counts and occupancy rates for lodging.
  • In 2024, Presidents’ Day was the second busiest holiday weekend of the year for Interstate 70’s mountain corridor, trailing behind Labor Day.
  • Last year, westbound traffic peaked Friday on I-70 at the Eisenhower Tunnel around 1 p.m. and continued through 6 p.m., with over 28,000 cars traveling west that day.
  • Last year, over 27,000 cars traveled eastbound on Monday and over 25,000 on Sunday. The highest volumes hit eastbound I-70 at the Johnson Tunnel on Monday at 10 a.m. and continued through 3 p.m.
Travelers can expect similar conditions heading up I-70 this year.
  • The I-70 Coalition’s travel forecast warns of light westbound traffic starting as early as 7 a.m. on Friday and getting heavier from 3-9:30 p.m. that evening. Delays could reach up to 45 minutes or more depending on weather and road conditions.
  • Saturday is expected to also see high volumes, with the coalition forecasting traffic starting as early as 5:30 a.m., parking around 7 a.m., and going through 1 p.m. The report estimates that delays could add an extra hour of travel time from Colorado Hwy. 470 to Silverthorne.
  • As travelers head back to the Front Range, the coalition expects traffic to build eastbound on I-70 starting at 10 a.m. on both Sunday and Monday, lasting through 7 p.m. With this volume, the coalition anticipates that metering at the Johnson Tunnel could add time to the drive. To avoid delays heading east, the coalition recommends starting the drive before 10 a.m. or after 6:30 p.m.
 
- vaildaily.com, 02.14.25
 

ROTARY CLUB OFFERS GRANTS TO YOUTH-SERVING ORGANIZATIONS

 
 
 
The Ski Town USA Rotary Club is offering grants to organizations that work to better the lives of youth through programs serving young people in Routt County or programs that may serve both Routt and Moffat counties. Grant requests need to be for a specific new or existing program or project that directly ties to youth. Grant awards range from $1,000 to $4,000 this year per application and will be evaluated based on program needs. Rotary Club grant application information is found online at Skitownrotary.com/grants, and applications are due by midnight, Feb. 28. For questions, email skitownrotaryclub@gmail.com.
 
- Steamboat Today, 02.12.25
 

A-BASIN OPENS LEGENDARY EAST WALL TERRAIN A MONTH EARLIER THAN LAST SEASON

 
 
 
Arapahoe Basin Ski Area has announced that its legendary East Wall terrain opened Thursday, Feb. 13. With rocky chutes and cliffs, East Wall is some of the most extreme terrain at A-Basin and in Colorado. The terrain requires a ton of avalanche mitigation by the A-Basin patrol team to open. Thanks to higher-than-average snowfall so far this season, the East Wall opened nearly a month earlier than it did last year. The East Wall opened on March 9 last year. Because it is such extreme terrain, A-Basin said in the news release that it wants to remind customers that access to the East Wall can close at any time as weather and conditions change. As of Thursday, the A-Basin website showed that North Pole, Snorkel Nose and Willy’s Wide were open on the East Wall. The East Wall opened as Summit County is expected to receive continued snowfall through the weekend.
 
- Summit Daily, 02.13.25
 

COLORADO STATE PARKS SEE CONTINUED UPTICK IN VISITATION

 
 
 
Visitation continues to steadily increase at Colorado's state parks. In 2024, visits to the 43 parks totaled more than 18.9 million — about a 2 percent increase from the previous year, when closer to 18.6 million visits were logged. In 2022, visitation was closer to 18.4 million, according to data from Colorado Parks and Wildlife. Numbers remain well below visitation tracked during the COVID-19 pandemic, when outdoor activity surged everywhere as indoor entertainment closed. CPW reported a record 20 million visits to the state parks in 2021.
In 2023, CPW launched the Keep Colorado Wild Pass, which offered an annual pass to the parks at a greatly reduced rate for drivers opting to add $29 to vehicle registration. An annual pass is otherwise $80. CPW reported 1.5 million drivers opted for the Keep Colorado Wild Pass in the first fiscal year, which spelled $39.7 million in revenue that was beyond stated expectations.
  • In 2019, about 15 million visits were recorded. Last year's visitation represents a 26 percent increase from then.
  • Last year's 18.9 million visits were 2.7 percent up from 2022, the year before the debut of the Keep Colorado Wild Pass.
  • Lake Pueblo remains the most popular state park, with 2.9 million visits reported in 2024. That was slightly down year-to-year, similar to the second-most visited state park: 2.2 million at Chatfield State Park.
  • Visitation at Cherry Creek State Park, 1.8 million, was up 11 percent year-to-year.
  • Golden Gate Canyon State Park also saw an increase: 1.7 million compared with 1.5 million in 2023.
  • In Colorado Springs, Cheyenne Mountain State Park tallied 192,616 visits last year, down from 193,312 in 2023.
  • At Mueller State Park in Teller County, visitation was up year-to-year at 156,999 — about 25,600 visits more than 2023.
 
- Denver Gazette, 02.13.25
 

DENVER NAMED ONE OF THE MOST 'AFFORDABLE' METROS TO RENT APARTMENTS

 
 
 
The cost of living is easing in Denver, specifically for renters. Denver was named one of the top 10 most affordable metropolitan areas for renting an apartment, according to a Redfin report released in late January. It was the sixth most affordable in the nation. The study analyzed median rent and compared it to the income needed to afford an apartment. It then compared what the median renter's income actually is in the Denver metro area. Denver follows Austin, Houston, Dallas, Salt Lake City and Raleigh, N.C.
  • Most renters in the Denver area are making more money than needed to afford the median rent of $1,695, the Redfin analysis found.
  • Renters would need to make $67,800 to reasonably afford most apartments in the Denver metro, which is still a higher income than most cities.
  • But most renters in the area do make a higher wage, nearly $73,000. It’s about 7 percent higher than the income needed to be comfortable.
  • Denver metro apartment rents fell $70, the largest recorded drop ‘ever’ for the region.
  • In comparison to Denver, the Tampa Bay area in Florida was listed as the eighth least affordable metro in the U.S. but had similar rents at $1,735 a month with a needed income of $69,400. But wages in the Gulf Coast city haven’t caught up to the cost of living, as the median income was nearly $55,000.
  • While most renters' incomes in Denver were above 7 percent what was needed, incomes in Tampa Bay were 21 percent below what is considered a required income.
  • The least affordable metros in the U.S. were Providence, R.I., Miami, New York City, Los Angeles and Boston.
 
- Denver Gazette, 02.13.25
 
 
 
MARKET UPDATE - 02/13/2025 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
44711.43
 
+342.87
 
S&P 500
 
6115.07
 
+63.10
 
NASDAQ
 
19945.64
 
+295.69
 
10-year Treasury yield
 
4.52
 
-0.11
 
Gold (CME)
 
2925.90
 
+16.90
 
Silver (CME)
 
32.65
 
-0.04
 
Oil (NY Merc)
 
71.29
 
-0.08
 
Natural Gas ($/MMBtu)
 
3.62
 
+0.06
 
Cattle (CME)
 
199.55
 
+0.40
 
Prime Rate
 
7.50
 
NC
 
Euro (per U.S. dollar)
 
0.95
 
-0.01
 
Canadian dollar (per U.S. dollar)
 
1.41
 
-0.02
 
Mexican peso (per U.S. dollar)
 
20.40
 
-0.13
 
30-year fixed mortgage rate (Freddie Mac 02/13/2025)
 
6.87
 
-0.02
 
*Not FDIC insured. May lose value. Not guaranteed by the bank.
 
 
 
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Alpine Bank is an independent, employee-owned organization with headquarters in Glenwood Springs and banking offices across Colorado's Western Slope, mountains and Front Range. Alpine Bank serves customers with retail, business, wealth management*, mortgage and electronic banking services. Learn more at alpinebank.com.

*Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.​
 
 
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