The nonprofit real estate organization, based in Minneapolis, specializes in creating, owning and operating affordable live/work spaces for artists and creative entrepreneurs. Artspace has six other Colorado projects in progress or completed: two in Loveland and one each in Carbondale, Ridgway, Salida and Trinidad. Colorado has more than any state other than Minnesota, which is home to 18 projects. Most Artspace properties are in existing, often historic, buildings that were at risk for demolition.
“What is exciting for me and for Colorado Springs is that I am not aware of any place that has such an inclusive concept approach,” Claar says. The building’s exterior will feature mural and sculptures among its community spaces.
Ground will be broken sometime this year, and the leasing application process has started for individuals and businesses. It will have 51 units of live/work housing and about 3,000 square feet of commercial space. The 40 one-bedroom units will rent for $1,191 and the 11 two-bedroom units will rent for $1,418. Being an artist is not required, but preference will be given to creatives. Income limits do apply; for details see artspace.org/COS.
The new five-story, all-electric building is designed to meet National Green Building Standard guidelines. The estimated project cost is more than $29 million. Bryan Construction is the general contractor and financing partners include the American Rescue Plan Act, Colorado Creative Industries, the City of Colorado Springs, the Colorado Division of Housing, the Colorado Office of Economic Development & International Trade and the El Paso County Housing Authority.
Winchell is among those who are confident this investment will pay off.
“The impact of the completed Artspace Colorado Springs will be transformative, with positive effects of stabilization, creative community building and business opportunities for the artists and their families, as well as the surrounding neighborhood,” she says.
The Downtown Partnership estimates that almost 5,000 people are living in the area, which has 3,075 units with total occupancy at more than 70%. Downtown also averaged 155 new units being rented per quarter in 2025.
“Downtown is quickly becoming not just a place to work or play, but truly a full-time neighborhood where people are choosing to live,” Winchell says.
