Grand Junction, Colorado (October 16, 2023) —

The Grand Junction Economic Partnership (GJEP) is pleased to announce that OakStar Bank, a leading financial institution known for its commitment to community development and service, has selected the Riverfront at Las Colonias for the site and construction of its new location. 

OakStar Bank will be leasing property at Las Colonias and building a 12,000-square-foot facility. Designs for the facility include a mix of restaurant/retail and office space where OakStar Bank will expand its regional footprint. The development is anticipated to break ground in the first quarter of 2024 and be fully operational in late 2025.  

OakStar Bank established its presence in Grand Junction in 2021 and is committed to investing in the community through local sponsorships, employment, and now the construction of its facility. OakStar Bank is currently operating out of 501 Main Street in downtown Grand Junction. OakStar Bank’s selection of the Riverfront at Las Colonias underscores the region’s growing appeal and new momentum for the business park. The OakStar team consists of multiple bankers from western Colorado with an aggregate of 155 years of community banking experience.  

“OakStar Bank is committed to serving our community while providing a different and dynamic banking experience. Our choice to build at Las Colonias is based on the same belief. We are excited to create this experience on the banks of the Colorado River and thank our loyal community members who have afforded us this opportunity,” said Clay Tufly, Market President.   

The Grand Junction Economic Partnership and the Las Colonias Development Corporation (LCDC) have worked closely with OakStar Bank throughout the process of site selection and navigating lease agreements for the property. Curtis Englehart, Executive Director for GJEP stated, “We are excited to welcome OakStar Bank to the Riverfront at Las Colonias. Their decision to invest in our community is a testament to Mesa County’s growing economy and the opportunities available within the region. The presence of OakStar Bank will contribute to new community engagement for the property, and we anticipate additional activity happening within the restaurant/retail and business park’s development because of this”.  

The Riverfront at Las Colonias is a 140-acre mixed-use space and includes a 15-acre business park with seven shovel-ready pad sites available along the Colorado River near Downtown Grand Junction. With the addition of OakStar Bank, the property will now be home to 7 local businesses, the development of 322 housing units, an RV resort, an amphitheater, a public park, and a zipline.  

The Riverfront at Las Colonias is a community asset that celebrates Grand Junction’s history, quality of life, and growing economy. The property began as a blighted riverfront that required intensive cleanup and the collaboration of federal, state, and local governments in addition to non-profit organizations and private businesses to transform the property into a place of opportunity.  

OakStar Bank is the latest business that the Grand Junction Economic Partnership has helped expand into the region. GJEP works to enhance the economic vitality of the region and create a strong and diverse economy through strategic business attraction and expansion efforts. GJEP specializes in aiding with site selection, navigating eligible incentives, providing connections to key stakeholders, removing barriers to business, and promoting Mesa County’s business assets.  

Media Contact: 

Selena Sanchez | Director of Marketing & Communications, GJEP

selena@gjep.org | 970-245-4332 ext. 6