FAQs
Affordable cost per square foot (appr. $236)
Constructed to meet high levels of architecture and sustainability principles, utilizing upcycle materials and energy-efficient systems
It is a recognized building in Louisville, situated with a beautiful view of the front range
Includes 85 parking spaces
Large lot size provides the opportunity for future expansion if necessary
Meets accessibility needs
How did this opportunity come about and why is City Council interested in purchasing this property?
This property was listed for sale in January for $14,013,000 and the City negotiated an offer of $13,250,000. Because the City has a need for additional office space, staff regularly monitors the market for opportunities.
The building is located at 101 S. Taylor Ave, in the Colorado Tech Center (CTC). It is 56,054 square feet and sits on a 7.96 acre lot. The building is unique because:
What will this property be used for, if purchased?
This space is large and flexible, so there are many possibilities! While we’ve already heard some ideas, the City plans to launch a community visioning process if the site is purchased. We’ll involve the community by gathering input on best uses for the building, in alignment with existing long-range plans and priorities.
While Council believes this facility could be used for a variety of uses such as staff offices and community space, they want to ensure the community has a meaningful role in shaping how the space is ultimately used. While there’s a limited window to decide whether or not to purchase the property, there will be time for thoughtful, community-led discussion about its future use before any final plans are made.
Why are we considering purchasing a building if we don’t have fully finalized plans for what it will be used for?
City Council is considering this purchase because it represents a unique opportunity to address several existing community needs at a cost per square foot that is significantly lower than comparable properties or the cost of new construction. The purchase price of $13,250,000 represents a per square foot price of approximately $236. Other municipal agencies have recently built new facilities at a cost of approximately $1,000 per square foot.
There are many plans and ideas for this space that could meet community and staff needs. For example, there is a portion of the building that could be separated from the rest of the building, making it a good fit for community events, programmable space, etc. That said, Council wants to ensure the community has a meaningful role in shaping how the space is used, so there are no detailed or finalized plans for space use at this time.
While there’s a limited window to decide whether or not to purchase the property, there will be time for thoughtful, community-led discussion about its future use before any final plans are made.
How much will this building cost?
The purchase price for this property is $13,250,000. The City will incur some additional costs not to exceed $75,000 for the appraisal, inspections, ALTA survey, title work, and implementation of a community engagement strategy. If the final decision is made to purchase the property, additional funding estimated at $2–5 million would be required to make modifications to make the site and building suitable for public use.
Will this purchase require a tax increase?
No, this purchase will not require an increase in taxes for our residents. City Council is seeking other financing mechanisms, specifically issuing Certificates of Participation, which utilizes current City revenues.
How will this purchase be paid for?
Certificates of Participation (COP's), a form of lease-purchase financing, would be used to finance the purchase. The COP process consists of the City entering into a lease agreement with a third-party trustee, which trustee holds legal title to the asset during the financing period., Investors buy "certificates," which provide upfront funding for the project, and the City "leases" the asset back from the trustee with payments that are subject to annual appropriation by the City Council. Once the final lease payment is made, title transfers back to the City.
I thought Council already approved the purchase. What does it mean they want input from us before moving ahead?
City Council entered into an agreement that includes a due diligence period. Council has until the end of May to decide whether or not to complete the purchase without losing the earnest money. This was negotiated specifically so that the City could collect input and understand what the community wants, before closing on the purchase.
How would this purchase impact other budgeted projects? What about long-term projects?
The annual appropriation payments for this property would likely come from a variety of City revenue sources, largely the City’s capital fund, depending on the finalized use of the property.
City Council biannually adopts a 6-year Capital Improvement Plan (CIP), which is when Council deliberates, discusses, and balances the Plan. This purchase would be incorporated into these future budgetary discussions, and some other capital projects may need to be postponed or rescoped.
The 2027-2028 CIP has not yet been finalized, but you can access the 2026 CIP here for examples of the types of projects that may be impacted: Budgets and Financial Reports | City of Louisville, CO
Will this building be the new City Hall?
City Hall is currently located on Main Street in downtown Louisville, offering in-person services and meeting spaces. It is also home to our Council Chambers, where Council and other board and commission meetings are hosted. Should Council decide to move forward with this new building in the CTC, the City will consider a range of possible uses for the space as part of the community visioning process. This could include considering whether some staff offices might be located there. Council recognizes the importance of downtown Louisville to the community and will consider how City services and functions are best located as part of the visioning process.
What would happen to the existing City Hall downtown if Council purchases this new building?
The future of City Hall depends on the whether or not Council moves forward with this purchase, and would be discussed as part of the community visioning process.
The existing City Hall is in need of repairs and major upgrades. City Council has reviewed concerns regarding City space needs for many years, and we’ve reached capacity for office space to provide adequate working environment for existing staff. The City currently pays approximately $80,000 per year to lease 3,000 square feet of office space for our Human Resources department. On average the City has spent approximately $50,000 per year attempting to split, reconfigure, or optimize existing space at City Hall and other facilities going back 10-15 years.
What costs beyond the purchase price will there be for the City to use the space? What are the ongoing costs?
In addition to the proposed purchase price of $13,250,000, additional costs will include the appraisal, inspections, ALTA survey, title work, and implementation of a community engagement strategy. Additional funding estimated at $2–5 million would be required to make modifications to make the site suitable for public use. Modifications are a cost range based conceptual costs that consider minimal investment for employee working spaces without City Council or public spaces all the way up to fully moving City Hall and creating new Council Chambers and public spaces. These costs are very rudimentary at this point and will be refined based upon the staff and community feedback and visioning process.
Operating costs for utilities and property maintenance are estimated to be approximately $200k-$300k annually, but will vary depending on how the space and property are ultimately used.
Is the City currently lacking sufficient workspace capacity?
The City has reached capacity for workstations, storage, and programmable/community space in existing facilities. In the past decade, the City has expanded services to meet increasing demands in areas like Cultural Services, Parks, Open space, Recreation, and Economic Vitality. New divisions like Sustainability, Recovery & Resilience (in response to the Marshall Fire), and Communications have also been added. In the last six years, approximately 31 full-time employees were added to support these new and expanded services. As new employees were added, the City made do with existing spaces. This has resulted in fractured teams, inadequate workspace, and a need to lease additional workspace.