property
$52M Pueblo Interchange Boosts Bessemer Corridor Home Values 14%
The $52 million Santa Fe Avenue underpass project completed in June has pushed median home prices in adjacent blocks up 14 percent over the past 12 months.
How we reported this
The new Santa Fe Avenue underpass opened to traffic on June 12 and has already added measurable value to homes within a half-mile radius in Pueblo's Bessemer neighborhood.
City planners approved the project in 2023 to ease freight and commuter congestion between the Union Pacific rail line and Interstate 25. Work crews finished the 1.2-mile concrete structure and connected bike lanes ahead of schedule, removing a barrier that had limited buyer interest for more than a decade.
The underpass runs parallel to Orman Avenue and passes within two blocks of the Bessemer Historical Society museum and the Colorado State Fairgrounds entrance on Beulah Avenue. Local real-estate agents report multiple offers on three-bedroom homes along Michigan Street and Palmer Avenue that sold above asking price in the last 90 days.
Price records show clear gains
Pueblo County Assessor data released last week list the median sale price for single-family homes in the 81004 ZIP code at $268,000 as of June 30, compared with $235,000 one year earlier. Properties on streets directly served by the new underpass posted an average 14 percent increase in assessed value between January 2025 and May 2026.
Commercial parcels near the former Minnequa Steelworks site also moved faster. Two warehouse buildings on Northern Avenue changed hands in April at prices 22 percent higher than comparable sales recorded in 2024, according to county deed records.
Next steps for buyers and sellers
The Pueblo Metropolitan Planning Organization will hold a public meeting July 22 at the Pueblo Convention Center to discuss follow-on streetscape improvements along Beulah Avenue. Residents who want to track potential zoning changes can review the updated corridor plan on the city website or visit the planning counter at City Hall before submitting offers.
Buyers entering the Bessemer market now should order a title search that includes the new right-of-way maps, because several corner lots will face revised setback rules once the bike-lane extensions are built next spring.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.