USOC lands downtown real estate in incentives deal with city

A $42.3 million incentives package designed to keep the U.S. Olympic Committee’s headquarters in Colorado Springs was highlighted by new downtown offices for the sports organization.

Here’s an update on what the USOC received:

• A city agency purchased a newly constructed office building at 27 S. Tejon St. in downtown, and is leasing portions to the USOC for a nominal annual fee. In April 2010, the USOC moved its administrative offices to the building from its complex on Boulder Street, east of downtown. The USOC has 225 employees working on four floors of the building, said Patrick Sandusky, chief communications officer. Portions of the building’s first floor are being leased  to non-USOC tenants, including mortgage firm Freedom Financial Services.

• A former Colorado Springs Utilities building at 30 S. Cimino Drive, west of downtown, was remodeled into offices for Olympic-related amateur sports groups, known as national governing bodies. Four NGBs that oversee badminton, boxing, judo and tae kwon do moved into the building two years ago; 30 NGB employees and five with the USOC work in the building, Sandusky said.

• About $16 million in improvements are planned for the USOC’s Olympic Training Center, at Union Boulevard and Boulder Street. Several buildings have been razed to create space for a new track facility, an enhanced weight room and an expanded dining area, among other upgrades, Sandusky said. An improved visitors center and a new entrance for athletes and staff off Union also are planned. New housing for married athletes was scrapped. The upgrades are scheduled to be finished at the end of 2013. While the USOC has $16 million in hand from the city as part of the incentives deal, the USOC plans to spend an additional $8 million on upgrades and will raise that money itself, Sandusky said.

• A downtown office building at 19 N. Tejon St., which the USOC used as temporary offices, continues to be owned by Woodland Park real estate developer and commercial broker Allen Brown, Springs businessman Sam Guadagnoli and a limited liability company controlled by Springs developer Ray Marshall, who was part of the first USOC deal with the city. The building is 100 percent occupied, Brown said.