COLORADO SPRINGS — Tuesday, Colorado Springs' Downtown Review Board unanimously approved development plans for the ONE VeLa development, which will be built at the southwest corner of the Costilla St. and Sahwatch St. intersection. Once completed, the 27-story building would be Colorado Springs' tallest.
According to the developers behind ONE VeLa and City of Colorado Springs Urban Planning Manager Ryan Tefertiller, there are still a few hurdles the project must get through in order for construction to begin. The first hurdle starts with an appeals process.
"There is a 10 day appeal window for any action of the Downtown Review Board," said Tefertiller. "It would likely be heard in one of the council meetings in March."
According to a spokesperson with the development team behind ONE VeLa, the appeals process will likely be the hardest hurdle and most time consuming.
If City Council denies the appeal, the spokesperson said the developers would then apply for a permit from Pikes Peak Regional Building. That process, he said, should take two months. He said optimistically, the goal is to start building ONE VeLa in the latter part of 2025.
According to the leaders of Integrity Matters, there are plans in place to appeal.
"Hopefully City Council will have more of a voice for the citizens," said Kat Gayle, head of legal counsel for Integrity Matters.
One concern raised: frustration over an urban renewal designation given to the plot in December, which means that taxpayer dollars could help ONE VeLa's construction.
"The greatest problem with it is the misuse of our tax dollars when we need them so desperately in other areas," said Gayle.
Tefertiller said part of the urban renewal designation process resulted from what could be found inside this building's 400 homes.
"10% will be rent restricted to lease at rates that are available to those making 100% average median income or below," said Tefertiller. "And that was an element of the urban renewal approval process as well."
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