Ponderosa Ridge
Multifamily | Loveland, Colorado
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Multifamily
Project Highlights
+/- 18 Acres | Planned for 320 Apartment or Condominium Units GDP Approval up to 20 Du/Acre
LC Real Estate Group is pleased to present the opportunity to purchase +/- 18 acres for 320 multifamily 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.
- The seller is offering 320 dwelling units for sale on +/- 18 acre parcel within the P1 Water Pressure Zone.
- Site plan has vested density on multifamily land for up to 20 Dwelling Units per acre for apartment or condominium product within the current master plan.
- Easy entitlement process with administrative approval of Sketch Plat and administrative approval of Final Plans.
- Attractive raw water dedication requirement estimate of 0.2444 acre feet and raw water cost of $10,019 per dwelling unit for the multifamily land based on conceptual site plan.
- 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 Multifamily has excellent views of the foothills and highly visible marketing window on Wilson Avenue. Developers and builders should be able to increase property values and rents attributable to these views.
- Limited new apartment product in Loveland, with occupancy at 92% to 98%. Strong average rental rates of $2.17/SF to $2.93/SF for market and age targeted apartments.
- New condominiums currently under construction in the area have starting prices at approximately $290,000-$465,000 or $246/SF-$420/SF.
Ponderosa Ridge
Overall PUD
+/- 276.67 Acres | 1,300 Dwelling Units GDP Approval up to 4.7 Du/Acre
- Large and flexible infill residential development opportunity with General Development Plan within a 1,300 unit development known as Ponderosa Ridge in highly desirable Northwest Loveland location.
- Master plan transitions from the higher density uses to the east, to lower density uses to the west including townhomes, paired homes or plex units, patio homes, single-family attached, and single-family detached homes.
- Increased prices and rents from constrained future land supply due to foothills to the west, Fort Collins-Loveland public open space north of 57th Avenue and existing housing to the south.
- Higher priced Fort Collins housing market to the north and short commute time is driving housing growth and price appreciation in Northwest Loveland Housing market.
- City of Loveland Water District is more cost competitive than neighboring Fort-Collins Loveland Water District, and most other districts on the Front Range creating opportunity for increased margins.
Overall PUD Offering:
+/- 18 Acres | Planned for 320 Apartment or Condominium Units | THIS SITE
+/- 46 Acres | Planned for 360 Attached/Plex/Detached Dwelling Units | REQUEST OFFERING MATERIALS HERE
+/- 46 Acres | Planned for 360 Attached/Plex/Detached Dwelling Units | REQUEST OFFERING MATERIALS HERE
+/- 177 Acres | Planned for 620 Single Family Homes on Medium Density Residential Land
Exclusively Marketed For Sale By:
