A Memorial Service will take place on October 1st at Bethany Lutheran Church at 1:30 p.m.
The memorial will be live streamed and can be viewed here: Bethany Lutheran Church Livestream – Buz Koelbel – October 1 2024
View the Memorial Service Program
A reception will follow at Cherry Hills Country Club.
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Walter A. “Buz” Koelbel, Jr. passed away peacefully in the company of his family on September 19th from blood cancer at the age of 72. Buz (also known as Buzzy in his early years) was the beloved patriarch of the extensive Koelbel family and longtime president of Koelbel and Company, a family-owned real estate development business with over 70 years of history in Colorado. He was a devoted philanthropist and his half century of contributions – both professionally and philanthropically – will have a lasting impact on the thousands of people he touched throughout his extraordinary life.
A third generation Coloradoan, Buz graduated from Thomas Jefferson High School and the University of Colorado Boulder. As a member of the Phi Delta Theta fraternity, he established strong bonds with his “brothers” and developed a lifelong love for CU Boulder. After graduating in 1974, Buz worked in property management in San Francisco. He returned to his beloved Colorado in 1976 and joined the real estate development company started by his father in 1952. In 1985, Buz was named president of Koelbel and Company and oversaw its growth for nearly 40 years, maintaining and amplifying its stature as one of the most prominent family-owned real estate companies in Colorado.
Under his leadership, the company established a strong vision and mission that focused on “Enriching lives through legacy communities” and the strong belief that “patience is genius.” Through the decades, the family-owned business experienced dramatic market fluctuations, yet always prevailed as an industry leader and a champion for the community. Buz relied on the simple fact that under all, lies the land and we must protect it and use it wisely. This belief has always ensured that each Koelbel and Company community is built to respect the land and use the natural beauty of lakes, nature preserves, or views as amenities. Buz once said, “We know we are custodians of the land for but a brief time, but our legacy lives on for generations to come. The rewards come from creating communities for people to live, work, shop, and play. Giving back to these communities completes the full circle of development.”
With Buz at the helm, Koelbel and Company developed numerous residential communities including The Preserve in Greenwood Village, the largest custom home community in the metro region; The Breakers Apartment Community (now TAVA Waters), the largest apartment community along the Front Range; Rendezvous Colorado, a 1,150 -acre mountain community in Grand County; Cherry Hills Park, a custom home community that set the record price point for lot sales in the Denver region; and Pinehurst Country Club, Colorado’s first master-planned golf-course development. With help from his sons, Buz was able to significantly expand the company’s portfolio. Koelbel and Company completed 10 affordable housing projects during Buz’s tenure and was responsible for adding over 700 units of income-restricted housing, helping to address a critical shortage of affordable housing across the Front Range.
Buz also kept the company active in commercial development. He oversaw the development of Centennial Valley Business Park in Louisville, first of its kind Catalyst HTI in RiNo (now being replicated in Omaha, Nebraska), Pine Bluffs retail in Parker, Village Center – DTC along I-25 at the Yosemite Park ‘n Ride, Centennial Promenade at County Line and I-25 and numerous other developments along the Front Range. Transitioning to the Chairman role earlier this year, Buz’s love for the people and the work at Koelbel and Company continued to grow. He came into work every day he was in town. His ability to coach and mentor made the company a home for many long-term employees.
That his three sons willingly entered the real estate industry and joined the company gave Buz his greatest source of pride. Their success enabled Buz to contribute even more of his time to community involvement in recent years.
Buz’s long-term community building activities extended beyond just the physical and into the social fabric by contributing time and treasure to numerous philanthropic and advocacy organizations. He was a co-founder of the Denver South Economic Development Partnership, the Common Sense Institute, and the High Line Canal Conservancy. He was a board member of many core organizations along the Front Range including the Denver Museum of Nature and Science, the CU Real Estate Center, and Economic Literacy Colorado (now joined with Junior Achievement). He was a tireless proponent for education and the family’s foundation made significant financial contributions to the University of Colorado, the Arapahoe Library District, Sewall Childhood Development Center, Junior Achievement, the Denver Zoo, Rocky Mountain Public Media (KUVO Studio), Western Stock Show Association, Colorado Historical Foundation, Children’s Hospital of Colorado, and many more.
Buz showed his gratitude for the state of Colorado as a vocal advocate for individual liberty and free market capitalism, participating on multiple boards, including Turning Point USA National Advisory Board, and producing several videos, linked below, promoting the societal benefits of the same. As his success as a business and civic leader grew, Buz was sought by many for his opinions, wisdom and thoughtful advice. Shelves in his home and office are lined and filled with honorary and lifetime achievement awards recognizing Buz’s leadership. Recognized as a friend to all he met, Buz enjoyed sharing and providing valuable and meaningful connections within his extensive personal network of contacts. His tireless efforts professionally, philanthropically, and personally extended until his passing.
Buz also made the time for a life full of fun and adventure. An avid skier, golfer and CU supporter, he indeed embraced the Colorado lifestyle. He also had a passion for travel, which began with a Semester at Sea in college and continued throughout his life through his many worldwide excursions with Young President’s Organization (YPO) and culminating with recent bucket list trips that included golfing in Scotland and an African safari. Much of his travel was with his beloved family.
Buz had a purpose driven zest for life that was amplified by time spent with his family. His favorite activity was sharing dinner and laughs with any or all of his extended family. Affectionately known as Bop to his grandchildren, he relished the time he spent watching his progeny play in his backyard. He is survived by Sherri, his wife of over 41 years, his four children Carl (Fallon), Walt (Laura), Dean (Kristin), and Bethany Mihalcin (Justin); four siblings Lynn Stambaugh (Jim), Bob (Deb), Leslie Webb (Tom) and Laurie Chahbandour (John); and 11 grandchildren.
Buz truly lived life to the fullest as illustrated in this parting quote that encapsulates his journey:
“I get up every day and count my blessings, having lived and participated in the most magical and successful experiment in the history of mankind. I dearly want my four kids, their spouses, and our 11 grandkids to be able to reflect on those same blessings I so cherish.”
In lieu of flowers please make donations to Junior Achievement or the High Line Canal Conservancy.
https://www.jarockymountain.org/donate/
https://highlinecanal.org/donate/
Video Links Here:
America is Exceptional!
America Works Because America Works
The Disappearing American Miracle
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