CMC to purchase downtown Glenwood building |

CMC to purchase downtown Glenwood building

Heather McGregor
Post Independent
Aspen, CO Colorado
Kelley Cox/Post IndependentColorado Mountain College is slated to buy the US Bank building at 802 Grand Avenue in Glenwood Springs on April 1 for $3.8 million. The college will be able to consolidate its headquarters in the downtown building.

GLENWOOD SPRINGS – The Colorado Mountain College Board of Trustees gave final approval on Friday for the college district to purchase what is known as the US Bank building at 802 Grand Ave. in downtown Glenwood Springs.

The college negotiated a purchase price of $3.8 million and the closing is planned for April 1, said Stan Jensen, college president.

The building is presently owned by partners Walter Jenkins, Raydean Acevedo and Dennis Krueger, who purchased the building in 2003 from the Aspen Research Group for $3.7 million.

It’s actually two adjoining buildings, with the north half dating back to 1890 and the south half, along with the entire brick exterior dating to 1984.

Jensen said the plan is for the six-county college district to move its headquarters – now occupying a college-owned building at 831 Grand Ave. and rented space in the Alpine Professional Building – into the new building by the end of the year.

US Bank, which holds a long-term lease for its ground floor space in the north part of the building, will remain in place, Jensen said, but tenants in second and third floor offices will be assisted in finding other office space.

Once CMC vacates the present office building at 831 Grand Ave., that space will be put up for sale, Jensen said.

Meanwhile, the college is pursuing a joint agreement with the city of Glenwood Springs, the Garfield County Public Library District and the Glenwood Springs Downtown Development Authority to develop the large parking lot behind the bank building in the 800 block of Cooper Avenue.

The city of Glenwood Springs has set aside $2 million to purchase the parking lot, which includes the small brick building along 8th Street that was formerly used as a bank drive-through.

Talks are still under way, Jensen said, but one idea is to split the parking lot between a two-story parking garage and a two-story building that would house a new library on the ground floor and classroom and meeting space for CMC on the second floor.

“We will be working hard over next two to three months to get the details worked out. It could be that it doesn’t work, but I am confident that it will,” Jensen said.

Over the next few months, CMC’s information technology staff will upgrade wiring in the 802 Grand Ave. building for Internet service, telephones and the CMC computer network. Some rooms may also receive a fresh coat of paint.

By summer, groups of workers will begin to move over to the new building.

Jensen said the college will also develop a plan for upgrading the building to be more durable and energy efficient.

An assessment of the building’s condition prepared by the local engineering firm Schmueser Gordon Meyer reports that the building’s heating, ventilation and air conditioning equipment needs to be replaced, as well as roofing on part of the structure.

“Given the age and many remodels through the years, it’s remarkable that these buildings are still performing to the level they are,” the SGM report states. “Nonetheless, it should be noted that with a few exceptions, both buildings are in need of some degree of refurbishment and a higher level of preventative maintenance in the future.”

The 35-page report goes into extensive detail on the condition of the building structure, mechanical systems, roofing, lighting and handicap accessibility, but does not provide an estimate of the upgrade costs.

“We have in our budget a full assessment of the mechanical system,” Jensen said, “and over next 10 years of ownership we anticipate replacing the chillers and boilers with the latest energy efficient technology.”

He said the roof replacement is expected to cost about $120,000, but the energy savings in the years to follow will repay the investment.

“We have had a good tradition at CMC of making our buildings green, whether it’s new buildings or upgrading existing buildings, to be efficient and to make the best use of taxpayer dollars that we can,” Jensen said.


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