+/- 177 Acres | Planned for 620 Single Family Homes on Medium Density Residential Land | GDP Approval up to 8 Dwelling Units/Acre
LC Real Estate Group is pleased to present the opportunity to purchase +/- 177 acres for 620 residential dwelling units with general development plan approval, as part of the overall 1,300 unit master plan known as Ponderosa Ridge. The community is located on the northwest corner of Wilson Avenue and West 50th Street, and is a convenient drive to Fort Collins, the Harmony Corridor, Downtown Loveland, and the Highway 34 Corridor.
- Approved Master Plan with seller offering 620 single family lots for sale on +/- 177 acres with natural area, two neighborhood parks, trail system, and open space backing area foothills.
- Conceptual Site Plan for 607 single family homes based on 364 50’ lots, 209 60’ lots, and 34 70’ estate lots.
- Single family lots are in the P2 Water Pressure Zone requiring completion of water pressure booster station, currently in progress, with approximately 350 lots buildable upon completion of service line by City of Loveland, and 270 lots buildable upon developer completion of water loop line.
- Site plan has vested density on for up to 8 Dwelling Units per acre for single family and estate lots on 177 Acres.
- Easy entitlement process with administrative approval of Sketch Plat with neighborhood meeting and administrative approval of Final Plans with Planning & Zoning Hearing for severed mineral rights holders.
- Attractive raw water dedication requirement estimate of 0.4618 per single family home and raw water cost of $18,541 per single family home based on conceptual site plan.
- Rapidly growing Loveland submarket with three hundred and eighty eight (388) new homes sold in 3-mile radius over last 12 months with average sold new home price of $451,539.
- Highly attractive Cash-In-Lieu building program allows for 100% Cash-In-Lieu raw water dedication at time of building permit for phased dedication by builder.
- City of Loveland water district has development friendly raw water policy and pricing that keeps Cash-In-Lieu water pricing stable and attractively priced, currently at $41,000 per acre foot.
- Ponderosa Ridge has excellent views of the foothills with estate lots backing directly to open space. Developers and builders should be able to increase property values attributable to these views.