2005: Gary Erickson buys a 320-acre parcel of land from Picolan Inc. for $38.3 million. A year later he meets Kevin Hawkins, a veteran retail developer, at an International Council of Shopping Center convention in Las Vegas and signs his first agreement to develop the property.
2007: The developers present the City of Colorado Springs’ land review and engineering departments with a proposed commercial center at North Gate Road. Existing transportation plans provide for the extension of Powers from Highway to Interstate 25. At this point it is CDOT’s responsibility to build the extension. Erickson begins securing land for necessary right of way easements.
2008: Erickson signs an agreement with WoodHawk, a retail investment group that includes Salt Lake City-based Woodbury Corp. and Hawkins to build the Copper Ridge at Northgate retail center. Stakeholder groups from District #20, El Paso County and CSURA begin meeting with city staff and the developer.
May 11, 2010: The developers win City Council approval of the Copper Ridge at Northgate Urban Renewal Plan. The approval designates the area as an urban renewal area and makes tax increment financing available.
2013: If all goes as planned, work on the 3.5-mile Powers Boulevard extension is completed.
2015: At least one major anchor retailer must be signed by the Copper Ridge developers, to meet conditions of the developers’ economic development agreement with the city.
2018: A second major anchor must be signed by Erickson and WoodHawk.
2035: The Powers Boulevard extension bond must be repaid.