$150,000 | 1.815 Acres LMN Zoned Land | Fort Collins, Colorado
LC Real Estate Group is pleased to present the opportunity to purchase 1.815 acres with Low Density Mixed Use Neighborhood (LMN) zoning approval within a 2.22 acre overall subdivision including Right of Way. The property is located on Laporte Avenue with direct access to Old Town Fort Collins via Laporte Avenue. The project is 1.8 miles west of US Highway 287/Old Town Fort Collins and is a short drive to Colorado State University. The project offers the following attributes:
- Bike-able or a short drive at 1.8 miles +/- from Old Town Fort Collins and Colorado State University
- Views of area foothills including Horsetooth.
- Strong new home price in 3-mile radius price over last 12 months with average single family of $551,031 ($301/SF), townhome of $643,728 ($274/SF), and condominium price of $587,159 ($523/SF)
- LMN Zoned land allows for up to 9 Dwelling Units (Du) Per Gross Acre or 12 Du Per Gross Acre for Affordable Housing
- City of Fort Collins water district has development friendly raw water policy and pricing that keeps Cash-In-Lieu water pricing stable and attractively priced, currently at $22,145 per acre foot
- Highly attractive Cash-In-Lieu building program allows for 100% Cash-In-Lieu raw water dedication
- Laporte Avenue roadway improvements will improve walkable access to Poudre High School and provide easy direct bicycle and pedestrian access to Downtown Fort Collins via Laporte Avenue
- Laporte Avenue Road Improvements include addition of a center turn lane, bicycle lane and pedestrian improvements between Fishback Avenue and Sunset Street, which is tentatively set to start construction in 2022.
- Farmstead Subdivision has expired approvals for three (3) condominium building lots totaling 17 units and two (2) single family lots
- The New Mercer Canal has fifty (50’) foot buffer zone standard for wildlife corridor applicable to site that will limit the total developable acreage and number of units from prior approvals
- Road for Pennsylvania Street has been dedicated to City of Fort Collins and requires a bridge over the New Mercer Canal to service the developable acreage to the south