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Revitalizing the Bell Building: A Downtown Cheyenne Development Project

Strategic Insights

— 1 min read

The historic Bell Building in Cheyenne, built in 1913, is set to be revitalized after decades of inactivity. Owners Amy Surdam and her team have presented a plan to the Cheyenne City Council to transform the building into a mixed-use development, featuring 32 parking garage spaces, retail space, residential lofts, and new utilities. The estimated cost for the project is $6,792,000, with tax increment financing (TIF) revenues and grants being sought to help complete the project.

Key Takeaways:

  • The Bell Building, located at 1605 Central Ave., has a rich history, including serving as a Buick storage garage, a parking garage for the Plains Hotel, and office space in the 1950s.
  • The building was mothballed in 2020 to prevent further deterioration, but new windows and storefronts were installed in 2024 to seal the building.
  • The revitalization plan involves creating 32 parking garage spaces, retail space, 5-7 residential lofts, and new utilities, with an estimated cost of $6,792,000.
  • The total appraised value of the building is expected to reach over $6 million, increasing the annual tax base to approximately $50,000.
  • The projected annual TIF revenue is $927,918 over 20 years, which would capture the increase in property taxes and redistribute those funds to subsidize development.
  • Councilwoman Michelle Aldrich, who has been historically opposed to TIFs, believes that this specific TIF is worth it due to the projected annual revenue of almost $930,000.
  • Councilman Pete Laybourn emphasized the importance of revitalizing the building to aid downtown development and provide additional parking.
  • The resolution passed with Councilman Mark Moody being the only "no" vote,; the next steps involve a third-party reviewer analyzing costs and profit/loss statements, followed by a development agreement and proposed cost to be included in TIF funding.

Statistics:

  • Estimated cost for the project: $6,792,000
  • Projected annual TIF revenue: $927,918 over 20 years
  • Total appraised value of the building: over $6 million
  • Annual tax base: approximately $50,000
  • Years of inactivity for the Bell Building: multiple decades
  • Number of parking garage spaces to be created: 32
  • Number of residential lofts to be developed: 5-7

Sources:

  • Wyoming Tribune-Eagle (Cheyenne, Wyo.) (2025)
  • MBX Architecture (project document)
  • City of Cheyenne (urban renewal project plan)
  • Cheyenne City Council meeting minutes (Monday, [date not specified])

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