Castle Rock Brimming with New Development
Drive-by suburb between Denver and Colorado Springs becomes bustling business destination
For companies seeking a place to plant their teams where landscapes are equal to development opportunities, Castle Rock is proving to be a choice location. Situated midway between Denver and Colorado Springs, this historic Colorado community is focused on second-stage companies and growth. In fact, the town is in the midst of $1 billion of new development, including more than $150 million in the historic downtown.
This $300 million mixed-use project is a 65-acre development located on the northwest corner of the I-25 and Plum Creek Parkway interchange and adjacent to Philip S. Miller Park. The first phase of development requires $12 million in site preparation, and in total includes more than a $65 million investment in public infrastructure. Development of Miller’s Landing will occur in four phases, over the course of seven to 10 years. It will include an opportunity for a corporate campus, office, retail and entertainment sites, as well as a full-service, four-star hotel. Pad sites for users will range in size from half-acres to 12 acre properties. Future plans for this site also include Snowsports 365, the only year-round snow sports complex in Colorado.
A $60 million mixed-use development in downtown Castle Rock, this development will border Festival Park – the result of a $6 million investment by the Town of Castle Rock, that aims to redefine the heart of the community. The development includes two blocks of downtown Castle Rock (bookending both sides of Sellars Gulch, along Wilcox Street), and will consist of a mix of retail, office and residential uses. The first phase is scheduled for completion in the fall of 2018, and total project completion by late 2018.
Running a cool $40 million, this project aims to provide the educated workforce to businesses in Castle Rock. Partners Arapahoe Community College (ACC), Colorado State University (CSU) and the Douglas County School District (DCSD) will create a smooth pathway from high school diploma to Associate’s and Bachelor’s degree. This two-phase project will consist of two buildings, each 54,000 square feet each, with an estimated opening of phase one by fall of 2019. Infrastructure investments made by the Town of Castle Rock totaling $3 million will assist with building permits and fees and land site improvements.
All the projects and progress Castle Rock is making as a stand-alone community are providing residents the opportunity to spend more time engaged in their community. Castle Rock has skillfully invested in the right infrastructure and tools to ensure the community is successful for the long haul. Much of the credit goes to Castle Rock Town Council and their respect of personal property rights, understanding of the competitive landscape of the metro Denver area, and balancing the needs of the community. Because of the thoughtful strategic planning and forward-thinking leadership, Castle Rock has become a place where businesses and residents have proven they want to be a part of a special, vibrant community.
Some of the more creative solutions implemented by Castle Rock’s leadership include the 104 Initiative, the first angel investment group formed in Castle Rock; the ConneXion Spot, Castle Rock’s first coworking space; the Collaboration Campus, where a focus on entrepreneurship will encourage home grown ideas and future business leaders.
Castle Rock is currently entertaining a partnership with Innosphere, a high-tech incubator designed to support entrepreneurs and build high-growth companies. Not only is the business community booming but the brewery industry is only just behind it with Castle Rock’s own 105 West Brewing company winning a silver medal at the 2017 Great American Beer Festival hosted in Denver earlier this year.
Because Castle Rock’s foresight, the town is thriving. Much of the employment growth stems from executives and entrepreneurs who live in area and decided to start companies in town, versus commuting to the Denver Tech Center.
Employers from growing tech startups like Smarterchaos.com, a digital marketing company and Robots & Pencils, which creates educational apps, to large employers such as the Castle Rock Adventist Hospital, Digital Globe Services (DGS) and IMI Global, all of which have undergone recent expansions. Other new arrivals include Infinity Laboratories and ITC Compounding Pharmacy.