U.S. Olympic Museum
The long-lauded U.S. Olympic Museum is coming to a reality near you. With officials securing final funding as this issue headed to press, it’s entirely possible ground will have been broken by the time you’re reading this. It is truly a big idea coming to fruition. Here’s a snapshot of the museum and its potential impact on Olympic City USA.
A jewel of urban renewal at Vermijo Avenue and Sierra Madre Street, the museum will provide a gateway and an anchor to connect America the Beautiful Park with the blossoming New South End of downtown.
60,000 square feet
The iconic building will house 20,000 square feet of exhibit space, a state-of-the-art theater, gift shop, cafe, broadcast studio, atrium and the U.S. Olympic Hall of Fame.
The project cost to build comes from private donations, bonds issued by the Urban Renewal Authority and a bank loan that will be repaid with committed sales tax revenues from the Colorado Economic Development Commission.
Target for opening: 2019
As of 2020: Now Open!
City for Champions
The four-pronged initiative received approval through the Regional Tourism Act in 2013 and the includes the U.S. Olympic Museum, Gateway Visitor Center at the U.S. Air Force Academy, the Sports Medicine and Performance Center at UCCS and the Colorado Sports and Events Center. Projections for the economic impact on the city and region include:
5,100 estimated new jobs
1.2 million total visitors per year
500,000 new out-of-state visitors
$2 million new sales tax revenue for El Paso County
$4.4 million new sales tax revenue for the city
$140 million increase in retail sales