CU unveils new Koelbel Building

BOULDER – The 38-year-old building that houses the University of Colorado at Boulder Leeds School of Business has been renovated and expanded in time for classes this fall.

Renovation of the existing 100,000-square-foot building and the four-story, 65,000-square-foot expansion cost about $38 million.

Students voted to impose a student capital construction fee on themselves representing $17.5 million, and $3.25 million from the university provided the financial base to start the project. The rest of the money is being generated through donations from alumni and business leaders.

The Koelbel Building is named in honor of the Koelbel family, Walter and Gene, and their son, Walter “Buz” Koelbel Jr., all CU business school graduates who donated to the project. Walter Koelbel founded Koelbel and Company 54 years ago, a Denver-based real estate firm that is considered by the university as a leader in Colorado real estate development, construction and sales.

In addition to high-tech, interactive classrooms, the building is home of the Beverly A. Deming Center for Entrepreneurship, the William M. White Business Library and the Real Estate Center headed by Byron Koste. The building’s new atrium is named in honor of Koste.

Buz Koelbel, a business school alumnus with a degree in finance, said the family feels strongly about the school’s importance. “The business school is the key to the university, and CU is the most important institution in the state – the key cog in the wheel,” Koelbel said Aug. 22 during a preview of the building for the media and those who provided donations for the project. “This complete redo was critical to stay updated,” Koelbel said.

Real estate developer Bill Reynolds was one of several people who donated $1 million to the project. His company, W.W. Reynolds, oversees 2 million square feet of space in Boulder. The CU graduate and founder of the CU Real Estate Center told the group why the renovation was necessary. “In this facility we can teach students and professors to be real leaders in our community, state and nation,” he said.

CU Chancellor G.P. “Bud” Peterson agreed. “In the global word the rate of information being generated is mind-boggling. The technology in this space will help educate students and allow them to succeed in this new environment.”

Contact Doug Storum at 303-440-4950 or [email protected].

Christening Koelbel

A dedication celebration for the University of Colorado at Boulder Leeds School of Business’ Koelbel Building will be at 3 p.m., Friday, Oct. 19. The school is on Regent Drive between Colorado Avenue and Baseline Road on the Boulder campus.