Colorado Real Estate Journal - December 17, 2014
Denver’s Office of Economic Development provided small-business financing to help fund the launch of the city’s newest and only climbing and full-service fitness facility, Movement Climbing + Fitness, which celebrated its soft opening Nov. 22 and 23 at 1155 W. Fifth Ave. in the Baker neighborhood. “Denver’s Movement Climbing + Fitness represents two of the greatest characteristics of our enviable quality of life here – a vibrant climate for business startups, and an undeniable commitment to fitness and well-being on the part of so many Denver people,” said Mayor Michael B. Hancock. Through the OED’s Revolving Loan Fund program, Movement Climbing + Fitness received a loan to finance a portion of the costs associated with its expansion into Denver. The gap financing program lends up to 25 percent of project costs, thereby inducing banks to provide the bulk of the financing for small businesses. In addition to filling the financial gap, the federally funded program helps stimulate job creation and revitalize downtown and surrounding central neighborhoods. The new center occupies a 32,500-square-foot, newly constructed building that includes a photovoltaic system supporting thermal water heating as well as natural daylighting. Through these features, the facility is expected to offset 70 percent of its annual energy consumption. “This project is an ideal embodiment of our goal to more proactively seek out and fund environmentally sustainable companies,” said OED Executive Director Paul Washington. “We’re proud to welcome a new wellness champion to help further revitalize the Baker neighborhood west of Kalamath Street.” The center is opening with a staff of six full-time and 35 parttime positions. Movement’s job creation at the Denver site, along with its demonstrated and rapid entrepreneurial success at its first location in Boulder, were also key factors in winning the city’s support through its Revolving Loan Fund dedicated to small companies, Washington said. “We are honored to be the first sustainable energy partner with the Office of Economic Development and have been overwhelmed with the positive support from the Denver community,” said Anne-Worley Moelter, who with her husband, Michael, created the very popular Movement location in Boulder in 2009. “We look forward to being a hub for the climbing and fitness community and to joining the thriving Baker neighborhood and Santa Fe Art District.”