Walter A. Koelbel, Sr.
In Memoriam
Real estate visionary and noted philanthropist Walter Koelbel Sr. (’47) passed away December 25, 2011. During his lifetime, Koelbel built a tremendously successful business focused solely on Colorado real estate, development and investments.
“Walt was a great businessman with an ongoing love for and a commitment to Colorado, as demonstrated in his visionary and innovative approach to real estate development and investment. He will be truly missed,” says David L. Ikenberry, dean of the Leeds School.
After graduating from the University of Colorado Boulder, Koelbel went to work for Moore Realty, a successful Colorado real estate company. There he got his start in the real estate business and met his longtime friend Bill Moore, whose father founded Moore Realty in 1931. Koelbel went on to found Koelbel and Co. in 1952 with just three employees.
Today, the company that started out small employs more than 85 people. In 1976, Koelbel’s oldest son, Walter “Buz” Koelbel Jr. (’74), joined the business. In 1985, Koelbel Jr. took over as president and continues the relationship between the University of Colorado and Koelbel and Co.
“I learned from my dad to take a focused approach to delivering a quality product from the land plan, to landscaping to aesthetics to architectural planning,” Koelbel Jr. says. “In the end, this philosophy yields a far better product, better economic returns, and the ability to take great pride in what we do. We never forget that under all lies the land. We are custodians of the land for a short period of time, so we have great concern and understanding for what we do.”
Under Koelbel’s direction, his company built more than 1 million square feet of office space, as well as developed residential sites such as The Breakers, the largest apartment project in the Rocky Mountain region, and the highly acclaimed 600-acre high-end development The Preserve. Its centerpiece is the 45-acre Marjorie Perry Nature Preserve, which incorporates a residential development with habitat and wildlife preservation.
About his business, Koelbel had said, “We are unique in that we specialize in Colorado, but we generalize in the entire spectrum of development. Most do the opposite. They specialize in one kind of development and go anywhere to do it.”
Koelbel was an especially generous donor to the Leeds School of Business through the years. He and the Koelbel family made a very generous naming gift for the renovation of and addition to the business school building. Koelbel was also involved in the construction of the original business school building in the late 1960s. He was a co-founder of the CU Real Estate Center (CUREC), one of the Centers of Excellence at the Leeds School of Business, and a founding member of the Real Estate Council. Koelbel had said of the Real Estate Center, “There are a number of other top-flight centers around the country. I wanted the school to have one of them, and I think that goal has been realized.”
Koelbel had a long history, more than 60 years in fact, of serving the University of Colorado Boulder. He was involved with many fundraising efforts in support of CU, including the renovation of the historic Macky Auditorium. In addition to his dedication to the university, Koelbel served on the board of directors for many other community organizations, including Great Outdoors Colorado, the American Cancer Society, Sewall Rehabilitation Center Foundation, State Historical Society, Colorado Woman’s College, Goodwill Industries of Colorado, and the Great Denver Corporation.
Koelbel was recognized through the years for his many contributions, commitments and philanthropy, receiving the Leeds School of Business Lifetime Achievement Award and the George Norlin Award, the highest achievement awarded by the University of Colorado Boulder’s Alumni Association. NAIOP, the trade association for developers, owners and investors in industrial, office and related commercial real estate, recognized Koelbel with its President’s Award for Community Service.
