A company known for its ties to football as well as residential and commercial development plans a new apartment complex for InterQuest on the north side, an area that’s become one of Colorado Springs’ hottest commercial centers.
The 474-unit Victory Ridge Apartments would be developed as part of the 153-acre Victory Ridge mixed-use project, southeast of InterQuest and Voyager parkways, according to documents submitted to city government planners.
The complex would go up on nearly 17 acres on Victory Ridge’s south side, along Federal Drive and east of Voyager.
A.G. Spanos Cos. of Stockton, Calif., a family-owned developer of apartments, master-planned communities and commercial projects for more than 50 years, plans to build the Victory Ridge complex in two phases.
The initial phase would have 280 apartments spread over five, five-story buildings, the proposal submitted to the city shows.
A second phase would have 194 units in four buildings of the same height. The complex would have a mix of one-, two- and three-bedroom apartments that are expected to rent at market rates.
Each project would have its clubhouse and outdoor pool, among other amenities.
Spanos, which built apartments in Colorado Springs in the 1980s and ’90s and most recently has developed multifamily projects in Denver, Broomfield, Johnstown and Parker, was impressed by the Springs’ quality of life, economy and population growth, development manager Brett Blank said via email.
“All of the above. Really,” he said. “With all of the job growth and significant military and DOD (Department of Defense) presence, Colorado Springs is poised for very long-term growth.”
Spanos also likes Victory Ridge, which is being developed by Westside Investment Partners of suburban Denver and where In-N-Out Burger last month opened its first Colorado Springs restaurant, Blank said.
“Westside has done an amazing job bringing Victory Ridge to life,” he said. “Most obvious is the addition of In-N-Out, which became national news last week, but also all the varied retail, commercial, office and residential. Victory Ridge is truly a walkable community and pairs exceedingly well with the high quality A.G. Spanos homes.”
The upcoming completion of the Northgate interchange on Interstate 25, along with the 2022 scheduled completion of the Gap Project to widen I-25 between Monument and Castle Rock, will make the InterQuest Parkway interchange “very accessible” to Castle Rock and Denver commuters, Blank said.
Spanos aims to start construction next summer and open its first apartments in spring 2022.
While Spanos develops apartments and residential communities, the company name also is well-known in the sports world.
Board chairman and CEO Dean Spanos is chairman and president of the Los Angeles Chargers football team, according to the company’s website. His father, Alex G. Spanos, founded the real estate company in 1960 and purchased the Chargers in 1984. Alex Spanos died in 2018.
The Spanos apartment project would join the ranks of several multifamily projects in the InterQuest area. Others include the 288-unit FalconView apartments, the 280-unit Springs at Allison Valley, the 264-unit Overlook at InterQuest and the 200-unit Volta at Voyager.
As Colorado Springs has grown to the north, the InterQuest area — with the InterQuest and Voyage intersection as its epicenter — has grown with it.
Along with Victory Ridge, other nearby developments include InterQuest Marketplace and InterQuest Commons; the fledgling Town Center at InterQuest is the area’s latest mixed-use project.
The area boasts at least a half-dozen hotels, with two more on the way. Two movie theater complexes, one in InterQuest Marketplace and the other at Victory Ridge, also are part of the area.
In addition to its restaurant, In-N-Out built distribution and production facilities at Victory Ridge and plans offices as part of a regional headquarters. Victory Ridge also will be home to the Springs’ first Slim Chickens restaurant and a Panda Express.
Also, outdoor retailer Scheels All Sports will open a store in March at InterQuest Marketplace, which will be only the North Dakota-based chain’s second in the state.