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Colorado - Wed. 08/06/25 |
A Free Business Publication from Alpine Bank
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FAST-MOVING WILDFIRES BURN NEARLY 21,000 ACRES ACROSS NORTHWESTERN COLORADO
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Lightning-sparked wildfires near Meeker have burned nearly 21,000 acres as of Tuesday morning. The Elk Fire covers 7,750 acres east of Meeker, while the Lee Fire, now merged with the Grease Fire, spans 13,025 acres to the southwest. Around 300 firefighters are battling the blazes amid hot, dry, and windy conditions. Two homes and one outbuilding were lost. Governor Polis declared a disaster emergency due to extreme drought and elevated fire risk. Smoke is affecting air quality across western Colorado, prompting health advisories and closures of trails and wildlife areas.
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$252 MILLION SECURITY UPGRADE DEBUTS AT DIA
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Denver International Airport has completed its $252 million East Security Checkpoint, marking a major milestone in its $2.1 billion Great Hall renovation. The new checkpoint, opening Aug. 5, features 17 lanes equipped with advanced screening technology that boosts throughput to 240 passengers per hour per lane. It mirrors the West Checkpoint, which debuted in 2024. The upgrade allows travelers to keep liquids and laptops in bags and speeds up bin returns. The project finished five months early and $10 million under budget. The bridge to Concourse A reopens, and Level 5 will be transformed into a vibrant public space.
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3D-PRINTING AEROSPACE COMPANY CHOOSES BROOMFIELD FOR HQ
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Raven Space Systems, a Kansas City-based startup specializing in 3D-printed aerospace components, has selected Broomfield, Colorado for its new headquarters and manufacturing facility, citing the region’s talent pool and proximity to other aerospace firms. The move is expected to create 392 jobs, supported by $5.8 million in state tax incentives. Raven’s patented Microwave Assisted Deposition (MAD) technology rapidly produces aerospace-grade thermoset and ceramic composites for satellites, rockets, and propulsion systems. CEO Blake Herren praised Colorado’s robust aerospace ecosystem, while local leaders emphasized the state’s growing reputation in advanced space technologies.
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LEGO SELLS FIRST COMMERCIAL SPACE SET INSPIRED BY COLORADO COMPANY
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LEGO has launched its first commercial space set in partnership with Lunar Outpost, a Golden, Colorado-based company working with NASA on lunar missions. The new LEGO Technic Lunar Outpost Moon Rover Space Vehicle features a rover modeled after Lunar Outpost’s design, complete with rocker suspension, four-wheel steering, solar panels, and a robotic arm that lifts a mini rover inspired by the MAPP rover. This marks LEGO’s first collaboration with a private space firm, celebrating a new era in space exploration. Lunar Outpost CEO Justin Cyrus said the set aims to inspire future engineers, scientists, and astronauts.
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DENVER ELIMINATES MINIMUM PARKING REQUIREMENTS FOR DEVELOPMENT
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The Denver City Council voted 9–3 to repeal parking minimums for new developments, aiming to promote affordable housing and comply with a new state law that bans such requirements near transit stops. The change goes beyond state mandates, removing parking minimums citywide except in single-family zones and parks. Supporters argue it will reduce development costs and free up city resources, while opponents worry it undermines local control and won’t lower housing prices. Data shows developers often exceed required parking anyway. Critics suggest implementing parking maximums instead. The move reflects shifting priorities in urban planning amid ongoing debates over housing and transit.
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METRO DENVER HOME PRICES TAKE A DIP IN JULY ON WEAKER SALES
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Metro Denver home prices declined in July 2025 as both buyers and sellers pulled back amid economic uncertainty. The median price for a detached home fell to $650,000, down 2.26 percent from June and 0.76 percent from July 2024. Average prices dropped 4.7 percent month-over-month and 1.08 percent year-over-year. Condos and townhomes saw steeper declines, with median prices down 2.5 percent monthly and 6 percent annually. Sales volume dropped 11.3 percent from June and 6.84 percent from last year, while new listings fell 9.6 percent on the month but rose 4 percent annually. Active listings held steady at 13,995, slightly below June’s total and up from 10,584 last year. Homes are taking longer to sell, with half going under contract in 24 days, compared to 18 in June. Analysts say sellers must adjust expectations to match market realities.
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GJ LIONS CLUB AWARDS MORE THAN $60K THROUGH FOUR GRANTS
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The Grand Junction Lions Club awarded $62,700 in grants to four local organizations during a ceremony at Warehouse25sixty-five Kitchen + Bar. PrimeHealth Plus received $50,000, total— $25,000 this year and $25,000 last year—for its new health center, which will expand services to 3,000 more patients. The Lower Valley Hospital Association was granted $2,200 for a defibrillator at Fruita Monument High School. EUREKA! McConnell Science Museum received $5,500 for a cargo trailer used in youth camping programs, including trips to the Redwoods. The Museums of Western Colorado were awarded $30,000 to renovate their traveling exhibit gallery, currently featuring the Ute Leaders and Legacy exhibit, with plans to host STEM-focused and cycling history exhibits. These grants support health, education, and cultural enrichment across the Grand Valley.
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INSURANCE COSTS COULD RISE BY NEARLY 40% IN REGIONAL COMMUNITIES
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Colorado health insurers are proposing significant premium hikes for 2026, with an average increase of 28.4 percent statewide and nearly 40 percent on the Western Slope, following the passage of a federal tax and spending bill. Rural communities are expected to be hit hardest, with many residents potentially losing coverage or facing unaffordable costs. The expiration of pandemic-era tax credits on Dec. 31, 2025, is a major factor, along with new federal constraints on renewals and subsidy eligibility. Officials estimate that premiums will rise for 321,000 Coloradans, and 100,000 may lose coverage entirely. In Telluride, only 22 percent of residents report access to affordable, quality healthcare. Local leaders and organizations like Counties and Commissioners Acting Together are raising concerns, and state officials warn that this could be the second-largest premium increase since the Affordable Care Act.
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CONSTRUCTION BEGINS ON COLLEGE & EIGHTH ROAD DIET PROGRAM IN DURANGO
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Construction has begun on Durango’s College and Eighth Road Diet safety project, which will reduce College Drive from four lanes to three and add pedestrian crossings, transit stop pullouts, buffered bike lanes, curb ramps, and trees. The project spans College Drive from East Third to East Eighth Avenue and East Eighth Avenue from College Drive to East Second Street. Work is scheduled weekdays from 7 a.m. to 7 p.m., with brief traffic delays expected. Initial construction includes sidewalks, ramps, and traffic signals, with paving planned for 2026. The $5 million project is funded by a $12 million Highway Safety Improvement Program grant, two Colorado Dept. of Transportation grants totaling $375,000, and a $1 million city match. The redesign aims to improve safety and traffic flow for over 10,000 daily vehicles on College Drive and over 13,000 on East Eighth Avenue.
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RAGING RIO BLANCO COUNTY FIRES SPUR EVACUATION ORDERS
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The Elk and Lee fires in Rio Blanco County remain zero percent contained as of Tuesday morning, having burned a combined 20,775 acres near Meeker. Over 290 personnel are battling the blazes, supported by aircraft and ground crews, though high winds and dry vegetation are complicating efforts. Evacuation orders are in place across multiple roads and recreation areas, and several state wildlife areas and parts of the White River National Forest are closed. Colorado Hwy. 13 is partially shut down, and residents of Meeker are urged to stay alert. A Red Flag Warning and air quality advisory remained in effect through Tuesday evening. To view updated fire information, visit TinyUrl.com/ys5fwkv7.
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SUMMIT COUNTY MOVING TO STAGE 2 FIRE RESTRICTIONS FOR 'EXTREME' FIRE DANGER
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Summit County will escalate to Stage 2 fire restrictions starting Friday, Aug. 8, due to worsening wildfire conditions. Sheriff Jaime FitzSimons cited extreme fire danger, record-breaking temperatures, and dry vegetation as key factors. The energy release component is forecast to exceed the 97 percent threshold, and live fuel moisture levels have long surpassed Stage 2 criteria. Stage 2 restrictions ban nearly all open flames, including campfires, charcoal grills, and smoking outside designated areas. Gas-powered devices with on-off switches are still permitted. The county shooting range will close, and welding, chainsaw use, and off-road vehicle activity face limitations. These restrictions are expected to remain in place for an extended period, as forecasts predict continued hot, dry weather. Summit County hasn’t implemented Stage 2 restrictions since June 2021.
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KARRIE FLETCHER RECOGNIZED AMONG COLORADO'S MOST INFLUENTIAL WOMEN
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Karrie Fletcher’s journey from part-time teller in Grand Junction to Denver market president of Alpine Bank spans nearly 30 years of leadership rooted in compassion, resilience, and service. Since joining Alpine in 1996, she rose through the ranks to senior vice president in Rifle, then led the launch of the Cherry Creek branch in 2014, which now manages over $200 million in loans and deposits. Named Denver market president in late 2023, Fletcher oversees four branches and more than 40 employees, many of whom she’s mentored into leadership.
Her influence extends beyond banking—she actively supports Habitat for Humanity, Warren Village, and Make-A-Wish Colorado. Fletcher’s leadership is shaped by personal challenges, including family health crises, which she met with courage and growth. Her recognition as one of Colorado’s Top 25 Most Powerful Women in Business reflects a career defined by authenticity and care. As she approaches her 30-year anniversary, Fletcher credits Alpine Bank’s culture of connection for her enduring commitment.
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POPULAR 529 PLANS EXPANDED
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The One, Big, Beautiful Bill Act (OBBBA) contains enhancements to Section 529 plans. The new law expands the list of educational expenses that can be paid with tax-free distributions. Starting in 2026, 529 plan funds can cover qualified expenses, including books, online instructional materials, tutoring or classes outside the home, and some testing fees. In addition, the OBBBA boosts the annual limit on tax-free distributions for qualified elementary and secondary school expenses from $10,000 to $20,000. And beginning in 2027, it introduces a tax credit of up to $1,700 for contributions to organizations that provide scholarships to primary and secondary school students. For more information, visit the IRS 529 Plans Q&A page, https://bit.ly/3ULjMB4.
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COLORADO MOUNTAIN TOWNS SEE A RARE SUMMER SLUMP IN VISITORS
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Last year Colorado hosted 95.4 million visitors who spent $28.4 billion. That’s up 2.1 million visitors from the crowd that spent $28.3 billion in 2023. Most of that increase in visits last year were from Front Range day-trippers exploring Colorado, with no growth in overnight visitors in 2024, according to the most recent tourism reports from the Colorado Tourism Office. That’s a first slowdown in overnight visitors for Colorado’s statewide tourism economy since 2014, excluding the pandemic-triggered global collapse in travel in 2020 and 2021. For more than a decade, visitation and tourist spending have set records every year. That record-setting trend appears poised to end in 2025.
- Hotel occupancy across the state is down 2 percent through June. Hotel revenue is also down.
- The first quarter of 2025 has seen a 10 percent annual dip in short-term rental home bookings.
- Ski-season visitor counts reached 13.8 million last season, a decline from the previous three seasons, but still above the long-term average for Colorado resorts.
- The booking pace at 17 mountain towns in seven Western states declined every month in the past six months compared with the previous year, marking the longest downward trend since the onset of the pandemic in 2020.
- Bookings by Canadian travelers are down 58 percent compared with 2024, bookings from European visitors are down 39 percent and reservations from the Aussies and Kiwis are down 21 percent.
International travelers stay, on average, for eight days when they vacation in Colorado. And they spend three to five times more per person than domestic travelers. Those international travelers can boost local economies with fewer people in town, creating a smaller impact than, say, lots of day-trippers who spend less.
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MARKET UPDATE - 08/05/2025 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 07/31/2025)
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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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