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Colorado - Wed. 06/10/26 |
A Free Business Publication from Alpine Bank
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UNIVERSITY OF DENVER TO CLOSE DEPTS., MERGE SCHOOLS
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The University of Denver announced a major academic restructuring Tuesday that includes closing and merging departments and combining schools at the 11,500-student campus. Officials at the private university declined to say how much money the restructuring will save. They said DU will operate under a balanced budget in the fiscal year that begins July 1. DU’s moves come as universities across the country face financial woes amid falling enrollment, the Trump administration’s funding cuts and an increasing scrutiny of the value of higher education. The budget deficit DU announced in March was blamed, in part, on reductions in the number of international students and the overall campus population. About 9 percent of DU’s faculty “voluntarily chose to conclude their service” through buyouts.
The university will eliminate the Dept. of Religious Studies within the College of Arts, Humanities and Social Sciences and the Dept. of Electrical and Computer Engineering within the Ritchie School of Engineering and Computer Science. Both will close this year. DU leaders said faculty members also voted to close three additional departments: Philosophy; Gender, Women’s and Sexuality Studies; and Socio-Legal Studies. As part of the restructuring, schools within DU are also merging. The Ritchie School of Engineering and Computer Science is merging with the College of Natural Sciences and Mathematics. The Graduate School of Professional Psychology will join with the Morgridge College of Education and the Graduate School of Social Work. To “integrate the performing arts,” the Lamont School of Music, the Dept. of Theatre and Newman Center Presents will be brought under the College of Arts, Humanities and Social Sciences.
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DIA EXPANDS SHOPPING & FOOD OPTIONS IN BID TO GET TRAVELERS TO SPEND MORE
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When the Denver International Airport‘s $2.1 billion Great Hall with its “living room” opens next year, travelers will be surrounded by new shopping, dining and quick-food concessions in the white-tented main terminal that, for decades, featured flights as the primary focus. Travelers will also see an airport-wide digital ad program run by a France-based contractor, JCDecaux, that presents a shifting mix of ads selling global brand products and items unique to Colorado. Airport officials plan to revive their erratic $30 million Peña Boulevard bright-lights billboard — and widen it — under a proposed 10-year deal that would bring DIA $184 million. The focus on places to shop and eat is part of a strategic shift over the past five years to maximize non-aeronautical revenue by getting travelers to spend more. To that end, DIA designers have increased seating close to shops in the terminal and the three concourses.
Airport planners track the average amount travelers spend before boarding planes — $16.13 in 2025, up from $13.91 in 2022. DIA leaders have set a target of $690 million in gross sales this year, up from the record $650 million last year, $590 million in 2024, and $539 million in 2023. The Great Hall project added 31,000 square feet to the main terminal. DIA’s commercial expansion also includes an additional 15,000 square feet of new commercial space in the concourses. For travelers moving past shops, DIA also has set up 40 “kiosks,” including pop-up shops and vending machines, where local small businesses sell products such as socks, soft underwear, and candy.
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LONG-AWAITED LEONARDO DA VINCI MUSEUM OPENS THIS WEEK IN PUEBLO
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The long-awaited official opening of North America’s only permanent Leonardo da Vinci Museum will take place with a two-day celebration beginning Friday. The museum, near the Riverwalk in the heart of downtown Pueblo, is one of only six in the world, including Italy, France, South Korea, Australia and Brazil. In 2022, Pueblo’s Sangre de Cristo Arts and Conference Center hosted “Da Vinci Machines and Robotics,” a traveling exhibit featuring more than 60 machines and reconstructed art pieces based on the Renaissance-era polymath’s drawings and notebooks. The machines were built by the Artisans of Florence, a group that creates historically accurate reconstructions from Leonardo's trove of sketches and drawings. Pueblo kept many of the models, distributing them to exhibits across the U.S.
When the Artisans of Florence expressed interest in having a permanent museum in North America, Joe Arrigo approached the Chamber of Commerce with the possibility of housing it in Pueblo. Colorado’s Economic Development Commission granted final approval for the 20,000-square-foot museum in February 2025. The museum, at 310 Central Main St., is dedicated mostly to Leonardo’s scientific endeavors.
On Thursday, Pueblo will host a discussion panel with three of the world’s leading authorities on Leonardo’s life and work. Titled “Inside the Mind of a Genius: Conversations with da Vinci Scholars,” the discussion will feature British historian and professor Martin Kemp, Italian professor and scholar Sara Tagliabamba, and Waqas Ahmed, founder and CEO of The DaVinci Network, a multidisciplinary think tank. The discussion will be held at the Pueblo Convention Center. Several state and local leaders are expected to attend the grand opening and ribbon cutting at 10 a.m. Friday, followed by an outdoor festival of family friendly activities, including face painting and caricatures, food trucks, “selfie stations,” music and medieval demonstrations. The festivities will conclude at 5 p.m. Friday and resume from 10 a.m. to 4 p.m. Saturday.
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LUXURY CLUB FOR GROWING SPORT RIVALING PICKLEBALL COMING TO DENVER'S RINO
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Ace Padel, a Miami-based club for padel players, officially has selected Denver for its next location. It will open in the River North Arts District at 1812 35th St., the former home to Great Divide Brewing Co. Padel is a fast-growing sport that is often described as a mashup of tennis and squash. It’s most popular in Spain, Portugal and Argentina and is starting to gain a foothold in the U.S. There are more than 1 million padel players in the U.S. The U.S. is a “high potential” market for padel with demand largely driven by Latin American and other international communities. But the sport is still in its early stages in the U.S.
Ace Padel is expected to open in Denver this fall. The Denver club will span 26,000 square feet and will include seven courts. Five will be indoor and two will be outside. It will also include social lounges, locker rooms, wellness amenities and food and beverage options. Ace Padel also said it will partner with racquet sport equipment maker Babolat, which has its U.S. headquarters based in Louisville, Colo., and use the club as a showroom space for the brand.
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VAIL RESORTS CUTS OUTLOOK AGAIN AS LOW SNOWFALL WEIGHS ON VISITS
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Vail Resorts cut its outlook for the second time this year after visits to its Rocky Mountain resorts cratered due to historically low snowfall levels. Chief Executive Rob Katz on Monday said adverse weather conditions across the Western U.S. continued to weigh on the company’s operations during the recent quarter, driving meaningful pressure on both visitation and revenue. The pressure was most notable at Vail’s resorts across the Rockies, which experienced their worst season on record for snowfall.
- Industrywide visits to the region plunged 24 percent from a year ago, marking the worst annual decline in four decades, outside of closures related to the Covid-19 pandemic.
- The decrease in visits prompted Vail to again cut its outlook for the year and sent shares sliding by 4.3 percent, to $131.38, in after-hours trading.
- The stock had lost more than 12 percent of its value over the past year through the regular session’s close.
- Total skier visits fell nearly 16 percent during the latest quarter.
- Lift-ticket revenue didn’t fall as steeply, though, as the company’s advance-commitment model, which offers lower prices to encourage people to buy its flagship pass ahead of the coming ski season, helped to offset the challenging winter weather.
- Total net revenue fell 7 percent, to $1.21 billion, roughly in line with Wall Street estimates.
For the current year, Vail now expects net income of $128 million to $162 million, down from a prior forecast of $144 million to $190 million. Analysts polled by FactSet expected net income of $165.8 million. Vail previously cut its outlook in March, slashing its initial forecast for net income of $201 million to $276 million for the year. For its fiscal third quarter, ended April 30, Vail posted net income of $314.4 million. That was down from $389.7 million a year earlier. Quarterly earnings of $8.81 a share missed Wall Street expectations for $8.95 a share.
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ED SHEERAN ANNOUNCES DENVER CONCERT JULY 4
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The record-setter is coming back to Denver. Ed Sheeran, who in 2023 set an Empower Field concert attendance record, will play in the Mile High City on July 4. Sheeran’s “Mathematics” tour stop in Denver in August 2023 drew 85,233 fans and included a three-hour lightning delay. The British rocker’s return to the Empower Field will be part of his new “LOOP” tour, and “promises an all-new set design with new songs from his recently released album, Play,” event organizers said in a news release. Sheeran will also play some of his classic songs and fan favorites, organizers said. Myles Smith and Ellie Banke are listed as opening acts at the show. Tickets are on sale at EdSheeran.com and Ticketmaster, starting around $93.
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METALLIC MINERALS RECEIVES MILLIONS IN INVESTOR FUNDS, BOOST FOR LA PLATA EXPLORATION
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Investors appear optimistic about the outlook of mining exploration in the La Plata Mountains. This week, Metallic Minerals, the Canadian-based mineral exploration company, announced it had received a roughly $7.3 million cash infusion from investors. Approximately $4.1 million will go toward the La Plata Project, said Bryan Eisenbraun, Metallic Minerals spokesman. Exploratory core-sampling, intended to better define the mineral resource before any economic feasibility studies are conducted, was tentatively scheduled to occur on the western slope of the La Plata Mountains this summer. The project’s ultimate goal, which would require several more years of exploration and study, is to determine the viability of a full-scale mine.
The company had planned to begin another round of drilling in June or July, but that timeline was pushed back to later in the season – or possibly the fall – because of permitting delays and financing uncertainties. Metallic intends to use the net proceeds from the sale for the exploration and advancement of the La Plata Project. Metallic Minerals has said community support is an important factor in determining the feasibility of a mine and that the company will continue consulting with local communities as the project develops.
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RECEIVED A CP14 NOTICE? HERE’S WHAT TO DO
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Would you know what to do if you received a CP14 notice from the IRS informing you that a tax balance is due when, in fact, you’ve paid your tax bill? According to the Taxpayer Advocate Service, the first step is to verify that the taxes were paid. If you have documentation proving that you paid the right amount of tax, don’t pay it again. Your payment may not have been processed yet, so monitor the account for your payment to be applied. If it isn’t applied, you’ll need to respond to the IRS within 60 days of receiving the CP14 notice. For more information from the Taxpayer Advocate Service: https://bit.ly/4ftSsD4
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ALPINE SHRED DAY IN DILLON TODAY, JUNE 10
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Alpine Bank invites the community to a shredding event today, Wednesday, June 10, from 9 a.m. to noon, at Alpine Bank - Dillon, at 252 Dillon Ridge Rd., to securely dispose of unwanted documents and personal information. Shred old bank statements, old medical records, canceled or blank checks, credit card statements and personal bills. Staples or paperclips do not need to be removed. There is a maximum of four boxes per household and business. All shredded paper is recycled. For more information call 970-468-4701 or visit the link below.
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CIGNA TO PULL OUT OF INDIVIDUAL HEALTH MARKET, AFFECTING THOUSANDS IN COLORADO
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Another firm is withdrawing from the individual health insurance market, including for Colorado, effective Jan. 1, 2027. The move by Cigna Healthcare is part of the company’s overall plan to withdraw entirely from the Affordable Care Act market. It will impact individual health plans for 369,000 members in 11 states. In Colorado, Cigna provides individual health insurance to 40,853 members. Cigna joins five other insurers that have pulled out of Colorado since 2022.
- The withdrawals began with Oscar Health, which announced in May 2022 it would end its participation in the individual market in Arkansas and Colorado.
- Then in October 2022, Bright Health announced it, too, was withdrawing its individual health insurance plans nationwide. Days later, Humana told its Colorado brokers and agents it was pulling out of the small group market in Colorado.
- In July 2023, the Colorado Division of Insurance announced it was terminating the health plans for Friday Health and, along with several other states, petitioned the courts to liquidate the company. Most of the 30,000 Coloradans enrolled in Friday’s HMO were in the individual market.
- Rocky Mountain HMO and Anthem both announced their withdrawal from Colorado’s individual health insurance market in 2025 but rescinded their decision in October, two months after the Colorado General Assembly adopted legislation to spend $100 million to help reduce rising premiums in the individual market.
- Also in 2025, Aetna, owned by CVS Health, withdrew from the small group market; it had stopped offering health insurance in the individual market in Colorado several years earlier.
Cigna leaving Colorado leaves six insurers covering the individual market: HMO Colorado (Anthem); Colorado Access, which will begin offering plans on the individual market for the first time in 2027; Denver Health Medical Plan; Kaiser Foundation Health Plan; Rocky Mountain HMO; and Select Health.
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DO YOU LIVE IN ONE OF COLORADO'S HOTTEST HOUSING MARKETS?
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Home prices in Colorado have fallen since 2025, but there are still pockets where sellers are more likely to see higher prices and competitive bidding situations, according to a report by Redfin, a digital real estate brokerage. Prices in the state fell 2.1 percent year-over-year in April 2026, with the average dropping to $548,191. More homes sold than a year earlier — up 3.2 percent to 7,630 — and they spent longer on the market (47 days, up 2 percent). But there are still pockets where home sellers have a good shot at fielding multiple offers and getting higher returns.
Redfin identified the markets with the biggest price increases and most competitive sales. Only one city in the 2026 top 10 for price gains — Monument — was also on the 2025 list for home price increases, illustrating how much the market has changed in one year.
Here are the 10 Colorado communities with the fastest-growing home sale prices:
- Steamboat Springs, 122.4 percent
- Keystone, 35.3 percent
- Louisville, 26.8 percent
- Lafayette, 17.4 percent
- Black Forest, 15.9 percent
- Berthoud, 13.4 percent
- Monument, 7.0 percent
- Wheat Ridge, 7.0 percent
- Fountain, 6.8 percent
- Erie, 6.4 percent
The number of homes for sale has increased slightly in Colorado over the last year, with a greater number lingering on the market. In April 2026, there were 38,448 homes for sale in Colorado, up 0.1 percent from April 2025. The number of newly listed homes was 9,447, down 8.8 percent year-over-year. The average supply is four months, which remained unchanged.
Here are the 10 most competitive housing markets in Colorado, all of which were in the Denver metro area and half are new to the top 10 this year:
- Northglenn
- Fairmount (Census-designated place in Jefferson County)
- Golden
- Applewood (Census-designated place in Jefferson County)
- Castlewood (neighborhood in Centennial)
- Sherrelwood (Census-designated place in Adams County)
- Southglenn (neighborhood in Centennial)
- Stonegate (Census-designated place in Douglas County)
- Centennial
- Derby (Census-designated place in Adams County)
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MARKET UPDATE - 06/09/2026 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 06/04/2026)
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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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