$1,500,000 | +/- 10 Acres LMN Land | Single Family Home
LC Real Estate Group is pleased to present the opportunity to purchase +/- 10 acres, with Low Density Mixed Use Neighborhood (LMN) zoning approval, and 2,107 SF single family home with detached garage and outbuilding. The property is located on Laporte Avenue with direct access to Old Town Fort Collins via Laporte Avenue. The project is 1.7 miles west of US Highway 287/Old Town Fort Collins and is a short drive to Colorado State Univeristy. The project offers the following attributes:
- Rare infill opportunity with limited new home inventory provides a great opportunity to deliver walkable to City Park and Poudre High School
- Bikeable or a short drive at 1.7 miles +/- from Old Town Fort Collins and Colorado State University
- Northern portion of property has excellent view of foothills including Horsetooth. Builders should be able to increase absorption and capture lot premiums attributable to these views.
- 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 Zoning 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 Bridge Improvements include two bridges that are set to start Winter of 2021/Spring 2022
- Laporte Avenue Road Improvements include addition of a center turn lane, bicylce lane and pedestrian improvements between Fishback Avenue and Sunset Street, which is tentatively set to start construction in 2022.