This place is known as the "Secret Garden of the Gods". It contains many of the same red rock ridges and formations.
The open space is criss-crossed with everything from wide and smooth dirt roads to tiny washed-out singletrack that climbs up the ridges. The ride is very similar to Palmer Park, as you can link together a lot of different trails for a really long ride.
The conditions are generally rocky & sandy, so choose the correct tires.
Also being built is a freeride park with ladder-drops, teeter-totters, and other stuntes.
From Colorado Springs, take Hwy 24 towards Manitou Springs. Just after the Garden of the Gods turn off, you'll see the brown sign for the Red Rock Canyon Open Space.
http://www.singletracks.com/item.php?c=1&i=1738