URA Period:  2026 – 2051

Location:

The Odyssey at North Weber Urban Renewal Area (“URA” or “Plan Area”) is located in the City of Colorado Springs in El Paso County. The Plan Area is comprised of two parcels that are both currently vacant with approximately 4.4 acres of land adjacent right of way (ROW). The boundaries of the Plan Area to which this Plan applies includes North Weber Street to the west, Cragmor Road to the east, and Mount View Lane to the south,

Plan Goals:

The vision of the Plan Area, as expressed by the developer, is to construct a residential apartment project along with associated site improvements likely to include sidewalks, stormwater, utilities, landscaping, and the reconstruction of Cragmor Road with a cul-de-sac. There will be a total of approximately 120 units across 10 structures with a mix of one-, two-, and three-bedroom units, as shown in Figure 3. The development will be low scale (i.e., generally three stories) with surface parking. All the units will be restricted to households earning between 80 percent and 120 percent of area median income (AMI), which will serve the local workforce. The exact number of units and unit mix for the development are subject to change.

The overall objective of this Plan is to remediate unfavorable existing conditions and prevent further deterioration by implementation of the relevant provisions contained in the following documents:

• Renew North Nevada Avenue Master Plan, 2017
• PlanCOS (City of Colorado Springs Comprehensive Plan), 2019
• HomeCOS (City of Colorado Springs Affordable and Attainable Housing Plan), 2020
• City of Colorado Springs Strategic Plan, 2020-2024

The Plan is intended to stimulate private sector development in the Plan Area with a combination of private investment and Authority financing. The Plan has the following objectives:

• Implement PlanCOS and HomeCOS
• Prevent and eliminate conditions of blight within the City of Colorado Springs
• Encourage and provide incentives for the private development of affordable housing
• Encourage the development of projects that would not otherwise be considered financially feasible without the participation of CSURA
• Enhance the current property tax revenue within the City and County with development that will increase the assessed valuation and provide additional sales tax collections throughout the city

 Current Status: 

City Council approved the Urban Renewal Plan in February 2026.