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Colorado - Fri. 01/17/25 |
A Free Business Publication from Alpine Bank
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NOTICE OF HOLIDAY CLOSURE FROM ALPINE BANK
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All Alpine Bank branches will be closed Monday, Jan. 20, in observance of Martin Luther King Jr. Day. We invite you to use Alpine Online or the Alpine Mobile app for 24/7 banking access, even when we are closed. Learn more at the link below.
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DENVER ANNOUNCES DEAL TO ACQUIRE PARK HILL GOLF COURSE IN A LAND SWAP
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After years of controversy over the future of the Park Hill Golf Course, city officials say the vast piece of undeveloped land in northeast Denver will open to the public as a park this summer under the terms of a land-swap deal with the developer that owns the site. The city plans to acquire the 155-acre property from its owner, Westside Investment Partners, by trading the open space for an empty 145-acre, city-owned parcel in Adams County near Denver International Airport. “This will be the largest acquisition of private property for park space in the city’s history,” Mayor Mike Johnston said. The park also would be one of the largest in the city and would be managed by Denver Parks and Recreation under the deal.
The exchange still needs formal approval from the Adams County commissioners and the Denver City Council. The city plans to solicit feedback from the community to decide what amenities will be available at the park, potentially including walking trails, sports courts, performance stages and shaded areas. The community will also help name the park. Residents can provide their thoughts at DenverGov.org/ParkHill.
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HAMPDEN SOUTH NEIGHBORHOOD APARTMENT COMMUNITY SELLS FOR $91M
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A three-building multi-housing community in Denver’s Hampden South neighborhood has been sold for $91.1 million, according to the city’s Assessor’s Office. Formerly called The District by Windsor, 6300 E Hampden Ave., The District at Hampden South was sold by GID, a real estate company based in Boston, to Mesirow Financial, a Chicago-based financial services firm. Constructed in 2007, the mid-rise apartment community is situated on a 7-acre plot and features nearly 250,000 square feet of residential space, complemented by 16,622 square feet of commercial space.
GID purchased the property for a little over $60 million in January 2008. With over 60 years of experience, GID manages $30 billion in assets as of Sept. 30, including 57,000 apartment units and 28 million square feet of industrial and commercial space while also offering commercial real estate debt solutions through its credit platform. With a 95 percent occupancy rate, The District has 276 units, featuring a selection of studio, one- and two-bedroom apartments. Founded in 1937, Mesirow is an independent, employee-owned financial services firm.
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LINDSEY VONN TO RETIRE AGAIN AFTER RACING AT THE OLYMPICS IN 2026
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Lindsey Vonn is just getting started on her comeback to ski racing at age 40 with her new titanium knee. She already has an endpoint in mind, though. If she can make it to next year’s Olympics, when women’s races will be held on one of her favorite courses in Cortina, that would be the perfect place to wrap up this portion of her career. “I would never go past that,” Vonn told The Associated Press in an interview Thursday in Cortina. “It would be a great way to end things — for once and for all.”
First, though, Vonn wants to get herself back into podium contention. She returned to the circuit last month after nearly six years of retirement. She finished 14th in her comeback race in St. Moritz, Switzerland, then improved to sixth and fourth in her last two races last weekend in St. Anton, Austria. But she fell in downhill training in Cortina on Thursday, narrowly avoiding major injury.
Vonn holds the record with 12 World Cup wins in Cortina, divided evenly between downhill (6) and super-G (6). Cortina was also where Vonn earned her first career World Cup podium back in 2004, and where in 2015 she broke Annemarie Moser-Pröll’s 35-year-old record of 62 World Cup wins across all disciplines. Vonn also had the final World Cup race of the first part of her career in Cortina end in tears in 2019 due to the pain in her knees. She retired a month later.
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GLENWOOD MIDDLE SCHOOL TEACHER HONORED WITH NATION'S TOP AWARD FOR SCIENCE EDUCATION
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Autumn Rivera has spent more than a decade at Glenwood Springs Middle School inspiring young minds with her passion for science. This week, that dedication earned her the nation’s highest honor for K-12 educators: the Presidential Award for Excellence in Mathematics and Science Teaching. The honor shines a spotlight on Rivera’s innovative approach to education, which has helped shape the school’s culture and engage students in meaningful ways. One of her standout contributions is the “Crew” program, a daily initiative she helped implement to connect students and teachers on a deeper level. By addressing emotional, social, and academic needs, the program has become a cornerstone of the school’s commitment to student success. Rivera was named the 2023 Association for Middle Level Education Educator of the Year.
Also recognized with the prestigious award was Linda Flohr, a former physics teacher at Glenwood Springs High School. Flohr is now an assistant principal at West Middle School in Mesa County Valley School District 51. Both Rivera and Flohr will receive $10,000 from the National Science Foundation as part of the award and will participate in recognition events in Washington, D.C., alongside other honorees.
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POPULATION CONTINUES TO RISE IN WESTERN COLORADO
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Early in January, Colorado Mesa University economics professor Nathan Perry released the annual Mesa County Economic Report, which includes population data from the state’s demography office. Mesa County is expected to continue its growth over the next 25 years. The county’s population, which was 155,993 in 2020, is expected to grow to 162,833 this year, eclipse 190,000 by the end of the 2030s, and grow to 214,206 in 2050, which would be a 37 percent population increase over a 30-year span.
However, a higher birth rate is not expected to accompany that population increase. The state projects that, by 2030, with an expected population of 174,827, the county will see 1,760 births — only a 23 percent increase from 2023’s birth count (1,426) — and 2,040 deaths. That means that the state projects that the county will continue to grow, as it has for years, because of older people migrating to the region. Recent low birth rates and projected future low birth rates have already created a real impact in the Grand Valley, particularly for Mesa County Valley School District 51. It was a factor in District 51 closing schools such as East Middle School and a trio of elementary schools in Scenic, Nisley and Clifton.
- Montrose County is projected to grow from 45,413 this year to 54,586 in 2050.
- Delta County is projected to grow from 32,027 this year to 35,769 in 2050.
- Garfield County is expected to grow by 43.5 percent from 64,496 this year to 92,516 in 2050.
- Moffat County's population is expected to decline and stagnate from 13,037 this year to 12,261 in 2050.
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FRIENDS OF RIDGWAY STATE PARK OFFER COLLEGE SCHOLARSHIPS
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The Friends of Ridgway State Park are offering a pair of $2,500 scholarships. Eligible recipients have received these awards not just once, but repeatedly, according to Joan Moyer, the nonprofit’s treasurer and leader. The two awards are conferred annually to local high-school graduates who have completed at least one semester of post-secondary education. It doesn’t matter whether you’re enrolled in a two-year or four-year degree-granting program, Moyer said, “but you must be in college,” and enrolled in a program that leads to a degree in environmental/biological sciences “or the equivalent.” (You must have graduated from a high school in Ouray, San Miguel, Montrose, Delta or Mesa County.) Pick up an application at Ridgway State Park, by phoning 970-626-5822, or visiting the Friends’ website, at rspfriends.org. Completed applications can be mailed to FRSP, Box 149, Ridgway CO 81432 or emailed to jmoy670@gmail.com. The deadline to apply is May 31, 2025.
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COMMERCIAL FLIGHTS RETURN TO FARMINGTON'S FOUR CORNERS REGIONAL AIRPORT
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Commercial air service will return in May to the Four Corners Regional Airport. The Farmington City Council on Jan. 14 unanimously ratified a two-year risk-sharing agreement with SkyWest Airlines to provide once-a-day air service to and from Denver on United Express Airlines. Under the risk-sharing agreement the city agrees to pay the airline up to $6.9 million over a two-year period. The city has one federal-funded grant and a possible state-funded grant to offset the cost. The city received $850,000 from the U.S. Dept. of Transportation’s Small Community Air Service Development Program, and officials are applying for the New Mexico Dept. of Transportation’s Rural Air Service Enhancement Grant, which provides $2.75 million to rural airports that don’t have air service. Should the city receive the state grant, the total cost over the two years would be just under $1.5 million.
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CMC RAISES TUITION FOR NEXT SCHOOL YEAR
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The Colorado Mountain College board of trustees approved the school’s updated tuition and fee structures for the 2025-26 academic year during its Jan. 16 board meeting. As part of its annual budget planning process, the board approved a 2.9 percent tuition increase to “keep pace with inflation while maintaining (the college’s) commitment to affordability."
The new rates will be:
- $107 per credit hour for in-district students (a $3 increase)
- $214 per credit hour for in-state students (a $6 increase)
- $545 per credit hour for non-resident students (a $15 increase)
- A 3.5 percent increase to residence hall fees to account for rising operational costs
Next year’s 2.9 percent is a milder change than the 4 percent increase implemented between the 2023-24 and 2024-25 academic years. The increased rates will go into effect for the fall 2025 semester. The board also approved an increase in the differential tuition, an extra charge added onto credits for certain high-cost programs, for nursing and dental hygiene programs to $77 per credit hour.
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STEAMBOAT TENNIS CENTER LAUNCHES ‘NEW YEAR, NEW MATCH’ FOR REFURBISHMENT
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The Steamboat Tennis and Pickleball Complex has received a new $100,000 match from an anonymous donor, launching the "New Year, New Match" effort to raise money for tennis center renovations. After opening its pickleball center in July, the Steamboat Tennis and Pickleball Complex has shifted its focus to tennis center renovations under its Courting Love campaign. The complex anticipates around a $2 million budget necessary to replace the tennis center’s exterior membrane and insulation, update the heating/air-conditioning and lighting systems, resurface the indoor tennis courts and refresh the welcome center.
The campaign exceeded its 2024 fundraising goal, netting $501,500, and a new anonymous donor was recently reported to come forward with a fresh $100,000 match moving forward into 2025. Out of the $2 million budget, $1,286,500 has been raised for the project, including $500,000 committed by the city of Steamboat Springs. To make a donation to the “New Year, New Match” effort, visit SteamboatTennisAndPickleball.com/match.
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COLORADO SKI TOWN MUSEUMS WORTH A VISIT
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Colorado is home to 28 ski areas and resorts, each with a fascinating backstory. These places have a rich history, from being the homelands and hunting grounds of the Ute, Arapahoe, and Cheyenne Native American Tribal Nations to the influx of silver and gold miners to the settlement of homesteading ranchers and cowboys and the development of ski areas by post-war veterans of the 10th Mountain Division soldiers of World War II. Colorado’s history is filled with diverse and colorful stories. Of the 355+ museums in Colorado, many are in ski resort destinations. A few share their unique Colorado perspective through history, art, snow sports, and the environment:
- Tread of the Pioneers Museum: 800 Oak St., Steamboat Springs; Open Tuesday-Saturday from 11 a.m. to 5 p.m.; treadofpioneers.org
- Headwaters River Journey Museum: 730 Baker Dr., Winter Park; Open Thursday-Monday from 9 a.m.-5 p.m.; headwatersriverjourney.com
- Colorado Snowsports Museum and Hall of Fame: 231 S. Frontage Road East, Vail; Open daily, 11 a.m. to 5 p.m.; snowsportsmuseum.org
- Anderson Ranch Arts Center: 5263 Owl Creek Road, Snowmass Village; Open October to May, Monday-Friday from 1-5 p.m.; andersonranch.org
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COLORADO'S SNOWPACK IS AVERAGE DESPITE NEAR-RECORD WARM CONDITIONS
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Colorado’s mountain snowpack is hovering around average so far this winter despite flatlining snowfall in December. The state’s snowpack is a vital frozen reservoir for communities across Colorado, 19 downstream states and Mexico — one that is being strained by rising temperatures and prolonged drought.
- As of Monday, the snowpack measured slightly below normal for early January, at 95 percent of the median between 1991 and 2020.
- Globally, 2024 was the warmest year on record since 1850.
- The year 2024 was the fourth warmest in Colorado, compared to a record stretching back 130 years.
- Eight of the top 10 warmest years for Colorado have been since 2012.
- As of Sunday, the snowpack was normal, or close to it, in most of Colorado’s major river basins like the Gunnison and Colorado River headwaters on the Western Slope, and the South Platte and Arkansas basins on the Front Range and Eastern Plains.
- The Yampa, White and Little Snake river basin in northwestern Colorado was below average until a Christmas storm brought it to its normal snowpack levels.
- Precipitation in two southern basins, the San Miguel-Dolores-Animas-San Juan and the Upper Rio Grande River Basin river basins, was scant in December. The snowpack in both regions was below normal, 80 percent and 79 percent, respectively as of Sunday.
- Colorado’s Western Slope is part of, and a main water source for, the broader Colorado River Basin. Overall, the basin’s snowpack is slightly less than normal for mid-January.
- In December, the Upper Basin — Colorado, New Mexico, Utah and Wyoming — had about 65 percent of the normal snowpack from 1991 to 2020. About 85 percent to 95 percent of the basin’s water comes from the Upper Basin mountain snowpack.
- The forecast center predicted the Colorado River’s flows this year will be around 84 percent of average, or about 5.4 million acre-feet. The forecasts become more certain in March and April.
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MARKET UPDATE - 01/16/2025 Close
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(Courtesy of Alpine Bank Wealth Management*)
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Canadian dollar (per U.S. dollar)
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Mexican peso (per U.S. dollar)
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30-year fixed mortgage rate (Freddie Mac 01/16/2025)
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*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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