Inhabitants dwelling in the vicinity of the intersection of West Prospect Highway and South Shields Avenue in Fort Collins can weigh in next week on the most modern programs for hundreds of “luxurious” residences southwest of the Colorado Point out College campus.
The latest proposal — at minimum the 3rd from various developers — will be the topic of a neighborhood meeting at 6 p.m., Wednesday, Oct. 28.
Watermark Residential, a nationwide multifamily housing developer, has proposed building just about 350 flats across eight three-tale buildings, 10 duplexes, 1 blended-use constructing and 1 industrial setting up.
The 19.5 acres where the apartments would be built are owned by North Spring Creek Properties LLC, whose handle is outlined at 401 W. Mountain Ave., the exact handle as Blue Ocean Enterprises. Blue Ocean is the genuine estate development enterprise fashioned by Otter Items founders Curt and Nancy Richardson.
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In accordance to preliminary ideas, units would incorporate just one-, two- and 3-bedroom units ranging in sizing from 682 sq. toes to 1,260 sq. toes, alongside with 12,000 sq. toes of business space.
Watermark claims in its firm overview it focuses on growth of Course A residences in affluent suburban areas in the Midwest, West and Southeast.
The 12-yr-aged organization targets web sites shut to new retail, upscale solitary-relatives houses and employment centers, although being seen and accessible from big thoroughfares. Rents are market place dependent.
The web-site is near to the Colorado Point out University campus, but the apartments are designed to rent for market premiums in its place of currently being geared toward college students, in accordance to plans.
Although rental emptiness costs in Fort Collins have greater thanks in portion to less CSU pupils returning to campus all through the COVID-19 pandemic, median rents for the quarter dipped total about 1%, from $1,388 to $1,372 in comparison with last 12 months, fluctuating from March to June.
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But rents on new, increased-end models are leasing for upward of $2,000 for two- or 3-bedroom apartments.
Fort Collins nonetheless has the greatest total typical hire for every sq. foot in the point out, at $1.64, as opposed with Grand Junction’s reduced of 87 cents for each sq. foot, according to a point out report on multifamily vacancies and rents.
Find out extra about Watermark at Spring Creek
The digital assembly will be held from 6-7:30 p.m., Oct. 28. Facts on how to be part of the distant meeting will be posted at fcgov.com/developmentreview/proposals 48 several hours prior to the meeting.
Pat Ferrier is a senior reporter masking small business, overall health care and growth difficulties in Northern Colorado. Speak to her at [email protected]. Remember to assistance her get the job done and that of other Coloradoan journalists by getting a membership right now.