|
Colorado - Wed. 02/12/25 |
A Free Business Publication from Alpine Bank
|
|
View in Browser
|
|
|
| |
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.
|
| |
|
|
|
| |
PET-FRIENDLY JET SERVICE LAUNCHES WITH DENVER AS A TOP DESTINATION
|
| |
|
|
| |
|
Travelers in Denver who just can't be without their pets will have a new option starting this May. RetrievAir, a jet service that allows passengers to sit side-by-side with their pet, flew a jet from Dallas to Centennial Airport on Friday to spread awareness of its new service, which will include regular flights to and from the Denver area. The inaugural flight flew to the regional airport in the southern Denver-metro area for participants in the annual Goldens in Golden event. Golden Retrievers and their owners gathered in the suburban city of Golden on Saturday to celebrate the dog breed. The event and location were the perfect way to launch the RetrievAir brand, which will include Centennial Airport among its top destinations. RetrievAir will launch with four, 30-seat regional jets that are owned and operated by RVR Aviation. RVR is based out of Dallas Fort Worth International Airport. The carrier's average price for a one-way ticket will be $750.
|
| |
|
|
|
| |
NEW COLORADO SPRINGS MARIJUANA BALLOT QUESTION NIXED BY JUDGE
|
| |
|
|
| |
|
Colorado Springs may not place a measure on the April municipal election ballot asking voters to overturn a recent citywide vote to allow recreational marijuana sales in the state’s second-largest city, a judge ruled this week. El Paso County District Judge Hilary Gurney on Monday placed an injunction on the city, prohibiting it from referring a measure to the April 1 ballot. If passed, that measure would effectively reverse the voters’ will on Ballot Question 300, which allows medical marijuana stores in Colorado Springs to start selling recreational pot. Voters approved Question 300 with nearly 55 percent support in the Nov. 5 election. But last month, a majority of the Colorado Springs City Council argued that voters were likely confused by the measure’s language. They concluded a new question on the topic was required in the city’s spring election, and they referred a ballot measure to that ballot. Two Colorado Springs residents sued the city three days later.
|
| |
|
|
|
| |
WINDSOR TOWN BOARD APPROVES PURCHASE OF 300 ACRES FOR OPEN SPACE PRESERVATION
|
| |
|
|
| |
|
Windsor residents will soon be able to enjoy more natural wildlife following a recent unanimous vote from the Windsor Town Board to purchase 300 acres of open space. The board voted on Jan. 27 to purchase the land from a private owner for $20.9 million, a crucial step in the town’s goal of acquiring 1,300 acres of open space areas. The purchased land is located between Colorado Boulevard and North 15th Street, just north of the new middle school and police department. The town would ensure that the land remains undeveloped, preserving agriculture, vital wetland and riparian habitat within Windsor. It would also create recreational amenities such as trails, wildlife viewing and more. “The property is incredible,” Open Space and Trails Manager Wade Willis told the town board. “It is an excellent wildlife habitat, and I think it’s an excellent opportunity for residents to see and explore the area.”
|
| |
|
|
|
| |
PITKIN COUNTY LABOR, EARNING DEMOGRAPHICS CONTRIBUTE TO TIGHT HOUSING MARKET
|
| |
|
|
| |
Sixty-two percent of the Pitkin County workforce commutes in and out of the county every day. Twenty-four percent of workers travel more than 50 miles — in one direction — during their daily commute. Skyrocketing housing prices, an increasing retired population, and a declining workforce contribute to a housing crunch that is bad and getting worse, according to Hannah-Hunt Wander, Planning and Zoning Commission senior long-range planner, who presented 25 years of data to the Pitkin County Commission on Tuesday. “There are fewer people in the workforce, and increased demand on services,” she said.
- Pitkin County’s 2024 cost of living sits at 220.4 percent of the national average and is 95 percent higher than the rest of the state. “And the majority of that is really driven by housing costs,” Wander said of the cost-of-living estimate.
- The 2024 mean value of a single-family home in Pitkin County was $13.3 million and the median value was $8.3 million. Garfield County’s mean value was $935,000 and median value was $611,000, and Eagle County’s mean value was $2.8 million and median value was $1.3 million.
- The average price of a single-family home in Pitkin County increased by 183 percent between 2018 and 2024.
- But salaries have not followed the cost of living over the past 25 years in Pitkin County. The wage required for a family of four to adequately live in the county increased from $50,752 to $148,512, a 192 percent increase. But the actual median wage for the same group only increased from $62,190 to $111,291, a 78 percent jump, leaving a $37,200 wage gap.
|
| |
|
|
|
| |
CMU WATER CENTER RECEIVES $300K GRANT FROM COLORADO RIVER DISTRICT
|
| |
|
|
| |
|
The Colorado River District has awarded a $300,000 grant to Colorado Mesa University’s Ruth Powell Hutchins Water Center. CMU will match the grant with an additional $300,000 investment to support the Ruth Powell Hutchins Water Center’s growth over the next three years. That growth includes hiring an executive director and developing a long-term strategic plan for the organization, which is focused on water policy, research and education across the Western Slope. The CMU Water Center addresses water policy, conservation and management challenges in the region. This grant and matching investment will support expansion, more hands-on research opportunities for students and faculty, industry partnerships and policy development.
|
| |
|
|
|
| |
LOCAL VENDORS RETURN TO OURAY WINTER WINE FESTIVAL
|
| |
|
|
| |
|
Multiple Montrose businesses will vie for the “Best in Fest” title at the annual Ouray Winter Wine Festival Saturday, Feb. 15. The event, a co-production of The Wright, Sauvage Spectrum Estate Winery and Vineyard and Elevation Weddings and Events, is designed to give patrons a fun, indoor winter event, showcase local businesses and drive Ouray’s economy during the slow season. Ten Western Slope-based wineries, cideries and distilleries are participating, including Montrose’s LaNoue DuBois Winery, Shelter Distilling and Storm King Distilling. Tickets cost $50 in advance and $65 the day of, and come with a few goodies and a tasting glass designed for sampling each of the vendors’ offerings. Tickets include a free wine tote bag, which is perfect because most vendors will have bottles for sale. More information and tickets: ouraywinterwinefestival.com
|
| |
|
|
|
| |
STORM EXPECTED TO BRING FEET OF SNOW TO SAN JUAN MOUNTAINS
|
| |
|
|
| |
The snowstorm arriving midweek is expected to deposit 1 to 3 inches of snow at higher elevations in the San Juan Mountains, said Brianna Bealo, a meteorologist with the National Weather Service in Grand Junction. But a large pacific storm is likely to drop from the Gulf of Alaska south, off the coast of northern California later this week, sending an atmospheric river toward eastern Utah and western Colorado. The NWS is calling for heavy snowfall starting Thursday evening – 1 to 2 feet in Silverton and upward of 3 feet in the higher peaks. The storm is predicted to blanket the region in moisture through Friday and into Saturday morning.
The lower elevations, such as Durango and Cortez, are likely to see rain as the storm arrives, although it may turn to snow. The storm could be just the shot-in-the-arm that the San Juans snowpack needs. Still, it would take an average of 5 inches of snow-water equivalent across the San Miguel-Dolores-Animas river basins to bring the water supply up to the 30-year median. The Colorado Dept. of Transportation is warning drivers to prepare for winter road conditions. Closures and road conditions can be found at cotrip.org.
|
| |
|
|
|
| |
SNOWSTORMS HEADED FOR STEAMBOAT
|
| |
|
|
| |
Cold temperatures and light snow are forecast for Steamboat Springs on Thursday morning, with temperatures dropping down into the minus single digits, according to local meteorologist Mike Weissbluth, who writes twice-weekly local forecasts at SnowAlarm.com. Weissbluth anticipates around 2-5 inches of snow falling on Wednesday and Thursday. According to meteorologist Joel Gratz at OpenSnow.com, “A strong storm with a LOT of moisture will bring snow on Friday and Saturday.” Gratz predicts 6-12 inches of snowfall at the ski area Friday evening into Saturday before a dry day on Sunday.
Another storm is expected to hit Steamboat at the start of next week. “From Monday midday/afternoon through Tuesday, the next storm will bring snow to Colorado,” Gratz continued. “My early estimate is for 5-10 inches of snow accumulation, with powder possible/likely on Tuesday.” The National Weather Service is forecasting a high temperature of only 11 degrees F for Steamboat on Wednesday, before more seasonable temperatures return to the area Thursday. As for precipitation, an NWS hazardous weather outlook predicts “a significant winter storm Thursday evening into the weekend, with potential for 1 to 2 feet of snow in the mountains and lower-valley rain.”
|
| |
|
|
|
| |
BUFFALO & INDIANAPOLIS HOTTEST HOUSING MARKETS OF 2025
|
| |
|
|
| |
Buffalo, New York and Indianapolis have claimed the No. 1 and No. 2 spots on Zillow’s forecast of the hottest housing markets of 2025. No, it’s not because homebuyers in the cities enjoy proximity to Niagara Falls and the Indy 500—though it probably doesn’t hurt. Buffalo and Indy top Zillow’s 2025 ranking in large part because homes in each market tend to be more affordable compared to other major metros in the U.S. But a spot on the top 10 list doesn’t mean things are easy for buyers in these markets. Since prices in these cities remain comparatively affordable while supply remains on the tighter side, competition is expected to be stiff.
Top 10 hottest housing markets in 2025:
- Buffalo, New York
- Indianapolis, Indiana
- Providence, Rhode Island
- Hartford, Connecticut
- Philadelphia, Pennsylvania
- St. Louis, Missouri
- Charlotte, North Carolina
- Kansas City, Missouri
- Richmond, Virginia
- Salt Lake City, Utah
|
| |
|
|
|
| |
TIME TO MAKE SUMMER RESERVATIONS FOR WRNF LOCATIONS
|
| |
|
|
| |
Even though the snowpack is still building across the White River National Forest, it’s time to begin planning many summer activities. “Reservations are available for many of our campgrounds and required for some high visitation areas on the White River,” said Recreation Program Manager Paula Peterson. “Reservations help us manage use and ensure visitors have a more enjoyable experience.”
- Maroon Bells Scenic Area: General parking and shuttle reservations for the Maroon Bells Scenic Area will be available at a new website address this year, visitmaroonbells.com. Beginning at 8 a.m. MST on Feb. 18, shuttle reservations for the entire summer season (May 24-Oct. 20) will be available, as will parking reservations for May 15-July 31. Parking reservations for August through October will be available beginning June 17.
- Maroon Bells-Snowmass Wilderness Overnight Permits: Overnight permits for visiting the most popular areas of the Maroon Bells-Snowmass Wilderness Area between April 1-July 31 will be available beginning Feb. 15 at 8 a.m. MST on recreation.gov. This includes overnight permits for Conundrum Hot Springs, the Four Pass Loop, and Capitol Lake. Reservations for August through November will be available beginning June 15.
- Developed Campgrounds and Group Sites: Reservations for the majority of the more than 50 developed campgrounds on the 2.3 million-acre White River National Forest are available six months in advance on recreation.gov. Developed campgrounds begin operating as early as mid-May in the Forest, depending on elevation. The White River National Forest has several group sites that accommodate larger groups and begin operating in mid-May, depending on elevation. Those sites are available 365 days in advance on recreation.gov. Information about all the Forest’s campgrounds and other developed sites is available at fs.usda.gov/whiteriver.
- Hanging Lake: The reconstruction work on the Hanging Lake Trail will resume when weather allows in the spring, with an anticipated reopening in summer 2025. Reservation information will be posted at visitglenwood.com when it becomes available.
|
| |
|
|
|
| |
VALENTINE'S DAY SPENDING REACHES RECORD $27.5 BILLION
|
| |
|
|
| |
Consumers are expected to spend a record $27.5 billion on Valentine’s Day this year. The amount is up from last year’s $25.8 billion and slightly above the previous record of $27.4 billion set in 2020. Shoppers plan to spend $188.81 on average on the holiday, up from $185.81 in 2024.
- Over half (56 percent) of consumers plan to celebrate Valentine’s Day this year, up from 53 percent in 2024. Men are more likely to celebrate the holiday this year with 55 percent saying they plan to participate in Valentine’s Day, up from 51 percent in 2024.
- The most popular gift categories this year include candy (56 percent), flowers (40 percent), greeting cards (40 percent), an evening out (35 percent) and jewelry (22 percent). Across these categories, Americans plan to spend a total of $6.5 billion on jewelry, $5.4 billion on an evening out, $2.9 billion on flowers, $2.5 billion on candy and $1.4 billion on greeting cards.
- Consumers continue to prioritize gifting for those closest to them. Total spending on significant others is expected to reach a new record of $14.6 billion, up from last year’s record of $14.2 billion. Total spending on gifts for family members is projected to reach $4.3 billion, up from $4 billion in 2024 and in line with 2020’s record of $4.2 billion.
- One-third (32 percent) of consumers also plan to purchase gifts for friends this Valentine’s Day, up from 28 percent last year and the highest in the survey’s history.
- Another 19 percent expect to purchase gifts for co-workers, up from 16 percent in 2024 and another record.
- On par with last year, 32 percent also plan to purchase gifts for their pets.
- In line with 2024, the top shopping destination remains online (38 percent), followed by department stores (34 percent), discount stores (29 percent) and florists and specialty stores (tied at 18 percent).
- For those not planning to celebrate the holiday, 28 percent still plan to mark the occasion in some way. The most popular ways include treating themselves to something special, followed by planning a get-together or an evening out with other single friends and family.
|
| |
|
|
|
|
|
| |
|
MARKET UPDATE - 02/11/2025 Close
|
| |
|
(Courtesy of Alpine Bank Wealth Management*)
|
| |
|
Canadian dollar (per U.S. dollar)
|
| |
|
|
|
|
Mexican peso (per U.S. dollar)
|
| |
|
|
|
|
30-year fixed mortgage rate (Freddie Mac 02/06/2025)
|
| |
|
|
|
|
|
*Not FDIC insured. May lose value. Not guaranteed by the bank.
|
| |
|
| |
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.
|
| |
|
|
| |
| Make changes to your subscription or unsubscribe here. |
| © 2026 Alpine Bank. |
| |
|
|
