1. Penrose St. Francis Health Services
Location: 2222 N. Nevada Ave.
St. Francis Medical Center
Location: 6001 E. Woodmen Rd.
Following a 2015 filled with announcements and speculation about a new campus, 2016 looks to be a big year for Penrose-St. Francis Health Services. Expect the health system to officially announce its newest hospital location, with all signs pointing to an undeveloped site near the intersection of Centennial Boulevard and Fillmore Street.
City Council approved a change in regulations that will allow the construction of a 20-story building on the northeast corner of that intersection.
Penrose-St. Francis is expected to request funding for the project from its parent company, Catholic Health Initiatives this year. The initial stage of development could cost $500 million.
Also look for construction to begin on St. Francis’ $100 million expansion off Powers Boulevard, where the emergency department will increase its capacity by 17 beds, bringing its total count to 40. The emergency department saw patient volume increase from 27,000 in 2009 to more than 51,000 in 2014, and that growth is expected to continue. The new operating rooms will address 63 percent surgery volume increases since 2009. That neonatal intensive care unit has seen admittance double since 2009. That project is expected to be completed in early 2018.
2. The O’Neil Group
Location: 6 N. Tejon Street, #501 80903
The O’Neil Group’s biggest project carrying over from 2015 is — without a doubt — its Catalyst Campus, a collaborative work and education environment slated to open later this year in the historic Atchison, Topeka & Santa Fe Railroad depot at the intersection of Pikes Peak and Colorado avenues. The aim is to create a location for many companies geared toward bolstering local technology, engineering and manufacturing industries.
The initial $20 million phase of renovation will include a redesign by local architect Ryan Lloyd and his firm Echo Architecture. The group will begin with 97,000 usable square feet and plans to start construction on another 50,000-square-foot structure sometime this year.
Last year, Colorado Springs-based venture capital firm PV Ventures signed a lease to occupy space at the campus, and defense contractor Braxton Technologies Inc. plans to house its research and development operations there.
3. G.E. Johnson
Location: 25 N. Cascade Ave. #400
What won’t GE Johnson start building in 2016?
From the U.S. Olympic Museum and Hall of Fame to the Pikes Peak Summit House, the local builder will have a hand in some of the biggest projects the region has seen in decades.
The Summit House design will be selected at the end of January and preliminary work could begin this year.
GE Johnson was also selected to construct the Olympic Museum on 1.7 acres near the intersection of Vermijo Avenue and Sierra Madre Street.
“GE Johnson Construction Company is honored to be selected as the construction manager/general contractor for the United States Olympic Museum project,” Jim Johnson, CEO of GE Johnson, said last year. “Headquartered in Colorado Springs, GE Johnson has constructed many projects in the region that include private and public money. However, the significance of a one-of-a-kind structure such as in the United States Olympic Museum increases the visibility and accountability from the donors, athletes and visitors.”
The museum is expected to open prior to the 2018 Winter Olympic Games in South Korea.
To date, GE Johnson has completed more than $7 billion in construction projects in 14 states.
4. Memorial Health System
Memorial Hospital Central
Location: 1400 E. Boulder Street 80909
Memorial Hospital North
Location: 4050 Briargate Parkway 80920
Memorial Health System had a big 2015 that should carry over to the new year. The health system, which is owned by the city but leased to UCHealth, ended 2015 with its first revenue sharing payment to the city. That payment totaled slightly more than $1.3 million, and additional payments will be made each year the hospital experiences earnings in excess of a baseline percentage outlined in the lease.
This year, construction of a radiation oncology building at Memorial North is expected to be completed in March and will house a multi-million-dollar linear accelerator. Memorial also recently invested in the renovation of patient rooms at Memorial Central, as well as a new catheterization lab at Memorial North, and the system opened six new primary care locations in Colorado Springs and Monument. The health system also created and implemented a new electronic health record system and expanded its neurology and cardiology services in Woodland Park.
Additionally, UCHealth is partnering with Adeptus Health to construct a 22-bed community hospital on North Nevada Avenue, which is expected to open this summer and should create 100 permanent jobs.
5. Sierra Completions (Sierra Nevada Corp.)
Location: 11551 E Arapahoe Rd, Centennial, 80112
Last year Sierra Nevada Corporation, a Nevada-based electronics company, created quite a stir when it announced it would headquarter its high-end aircraft completions company, Sierra Completions, in the Colorado Aerospace Park at the Colorado Springs Airport. The $88-million complex is expected to create an estimated 2,100 jobs and a $5 billion economic impact.
Construction on the complex should take five years, though in November 2015, the company announced it completed work on a new hangar at the airport. Starting this month, the 31,000-square-foot hangar will serve as a modification center for VIP aircraft interior completions. The hangar is adjacent to the site where additional Sierra Completions facilities will be built.
“This is the first step in establishing a presence for Sierra Completions at the Colorado Springs Airport and provides us with a facility to launch the business,” said Ed Topps, vice president of programs for Sierra Completions. “We are in active discussions with a number of customers already.”
When fully operational, it is expected the hangar’s operations alone will add approximately 150 regional jobs.
6. Rainmaker Inc.
Location: 723 N. Weber Street #101
Jonathon Bell, 25, is the CEO of Colorado Springs-based Rainmaker, “the world’s most powerful fundraising automation software.” Bell’s company creates apps for nonprofits that attract and engage donors and supporters online more efficiently. The startup is more than a year old and his customer base has multiplied more than five times over.
“At this point, we’re more than 65,” Bell said. “It’s been a mix. Mostly small- to medium-sized organizations. Not startups or the big, big organizations. The product in its current stage is a good fit for organizations doing a half million to $10 million [in revenue] a year. We want to expand in that market and then start tackling other verticals within the industry.”
7. Colorado Springs Public Market
Location: 320 S. Weber
The Colorado Springs Public Market, a 501(c)3, is expected this year to launch a fresh- and prepared-food marketplace in the former Payne Chapel, a landmark city structure built in 1893. Located at 320 South Weber, just southeast of the heart of downtown, the Public Market will bring fresh food to the core of Colorado Springs.
Planned to open in early 2016, the market is one of several initiatives aimed to increase local food production and consumption.
“It’s been a long time coming but this project and destination make a perfect fit with the growing energy downtown,” said Dave Anderson, board president for the Colorado Springs Public Market. “As we welcome more people to live downtown, we’ll soon be able to feed them, while creating all kinds of new business opportunities along the way.”
“Our downtown is blossoming,” said Susan Edmondson, president and CEO of the Downtown Partnership. “The Public Market will be a great attraction for residents and visitors, and is sure to add both vibrancy and variety to downtown life.”
The site was home to the City’s African Methodist Episcopal congregation until 1986. Most recently, the building housed the Green Man Taproom, and was known for several years as the Carter-Payne Events Center.
A five-year, $5 million capital campaign is underway to complete the lease-to-own agreement, renovate the building and eventually expand the market space to 30,000 square feet, as envisioned in the market’s original feasibility study.
Location: 102 N. Cascade Ave., #220
One of five publicly traded Colorado Springs companies, root9B provides cybersecurity and regulatory risk mitigation solutions.
Last summer root9B announced it would conduct round-the-clock manned cybersecurity operations from its Cascade Avenue headquarters and that it would open its new Adversary Pursuit Center in the city.
“We expect that to grow significantly in the next couple years,” said CEO Eric Hipkins. “We have great access to some of the top industry professionals, based on our careers.”
The company employs 50 people, 30 in Colorado Springs, Hipkins said, and is expanding operations in San Antonio; New York City; Charlotte, N.C.; and Honolulu.
Hipkins said the company invested more than $2 million locally into its APC. As of this week, the company traded at a 52-week low of 81 cents a share, but sold shares as high as $2.51 during that same timeframe. Shares were selling at $1.34 as of the writing of this article.
9. Delta Solutions & Strategies
Location: 565 Space Center Drive, #330
Now moving into its 16th year, Delta Solutions was established to provide the public and private sectors with comprehensive organizational and technical consultation services.
Founded by Kelly Bain, the service-disabled, veteran-owned small business specializes in systems engineering and technical assistance, as well as advisory and assistance services. The company is a prime contractor on multiple contracts, including support to North American Aerospace Defense Command and U.S. Northern Command and Air Force Space Command, and advisory and assistance contracts for the U.S. Army Aviation & Missile Life Cycle Management Command.
Last month the company was awarded a contract worth nearly $8 million during the next five years to provide operations and maintenance of the Navy’s transmitter facility in Dixon, Calif. In addition, the company will maintain the transmitters for the global communications system that provides support for the Navy and Air Force. Delta Solutions and its partner, Rome Research Corp., will hire 13 people for the new contract.
Location: 9965 Federal Drive
Spectranetics, another publicly traded Colorado Springs company, hopes to fare better in 2016 than it did last year. The company provides tools and training to support cardiovascular health, but stockholders were disheartened to learn the company’s stocks fell a staggering 34 percent in July 2015, following a disappointing second-quarter report.
CEO Scott Drake told stockholders that the results fell short of expectations because of increased competition in the drug-coated balloon arena.
“Performance of our AngioSculpt [scoring balloon catheter] franchise was below expectations due to relatively rapid adoption of competitive drug-coated balloons and our ongoing sales force optimization efforts,” Drake said. “Significant actions are underway to augment and improve sales performance, optimize the potential for our Stellarex drug-coated balloon platform, and adjust expenses to offset the revenue shortfall.”
Additionally, Spectranetics welcomed a new chief financial officer, Stacy McMahan, who began in September. McMahan brought more than 25 years’ experience in finance leadership, including her work as CFO and vice president of finance positions for high-profile public companies. Spectranetics reached a 52-week trading low of $10.65 a share and capped at $37.04 during that same timeframe. Companies shares were trading at $14.98 this week.