NoCo Newsletter | February 8, 2024

NAI Affinity
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February 8, 2024

Pictured: 208 single-family homes located within East Village @ Villages at Johnstown. Adjacent to South Ridge. Photo is for the exclusive use of NAI Affinity.

NoCo Newsletter | February 8, 2024

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of recent transactions, empty offices, confounding job growth, and more.

REAL ESTATE & BUSINESS NEWS

NAI Affinity team members, Ryan Schaefer, Jake Hallauer, CCIM, and Lauren Larsen, expertly worked as the transaction brokers for this site. The NAI Affinity team is excited to see all that is to come at The Ridge and beyond. Contact the team today for your Northern Colorado master-planned community needs and more.

  • Save The Poudre is Suing to Stop NISP Project That Would Provide Water to 15 Communities
    • “Environmental group Save The Poudre has filed a lawsuit to try and stop the Northern Integrated Supply Project from going forward to construct two reservoirs and supply water to 15 communities.” (Coloradoan)
  • Fort Collins Council to Mull Appeal of P&Z’s Polestar Approval
    • "The Fort Collins City Council on Tuesday will hear a citizen-led appeal of the Planning and Zoning Commission’s November approval of a proposed 144-unit “new urbanism” development on 20 acres in the northwest part of the city. Polestar Village, proposed by a nonprofit that moved to Fort Collins from Hawaii last year, would include townhomes, condominiums and apartments on a site east of South Overland Trail near West Elizabeth Street, including part of the former Happy Heart Farm. Polestar wants the complex to include a garden and small farm where residents can grow and harvest produce." (BizWest)
  • Nearly a Third of Downtown Denver's Office Space Sits Empty. That's the Highest Vacancy Rate Since the 1990s.
    • "Overall, the office vacancy rate in downtown Denver, which tumbled during the pandemic, rose above 30% by the end of 2023, its highest point in more than two decades....Class A buildings, which are often newer with more amenities, are faring better in the market. The vacancy rate in those buildings rose about 1.3% in 2023 while vacancies in Class B and C buildings increased by nearly 10%....the so-called “flight to quality,” the pursuit of building with a lot of amenities, is driving leasing decisions." (The Denver Post)
  • Vail Claims 100% Renewable Electricity
    • "In its 2022/23 Environmental & Social Responsibility Report, Vail Resorts Inc. (NYSE: MTN) claims to have achieved 100% renewable electricity for the second consecutive year." (BizWest)

ECONOMIC & EMPLOYMENT NEWS

  • Fed Signals Cuts Are Possible but Not Imminent as It Holds Rates Steady
    • “The central bank held its benchmark federal-funds rate steady in a range between 5.25% and 5.5%, the highest level in more than two decades, as it awaits more convincing evidence that a sharp downturn in inflation at the end of last year will endure.” (WSJ)
  • Jobs Growth of 353,000 Blasts Past Expectations as Labor Market Stays Hot
    • "Unemployment was 3.7% as labor market defies predictions of significant slowdown.... Employers added 353,000 jobs last month, the Labor Department reported Friday. That was the strongest in a year and nearly double what economists surveyed by The Wall Street Journal expected." (WSJ)
  • Kelly Jones-Sage to Resign After 7 years at Helm of Loveland Economic Development
    • "'The current political direction does not align with my strategic philosophy on economic development. I’ve always been a proponent of smart, managed growth. The rescission of Centerra South is a destructive example of this new political direction. The city is losing a billion-dollar project based on ideology,' she said, referencing the new City Council’s decision to roll back a decision of the previous City Council to create an urban renewal area in an area south of U.S. Highway 34 in east Loveland." (BizWest)
  • Estes Park Chamber to absorb Estes Park Economic Development Corp.
    • "The Estes Chamber of Commerce will take over operations and responsibilities of the Estes Park Economic Development Corp., the chamber said Tuesday. Economic-development programs and initiatives for the Estes Valley will be run by a newly formed economic-development department that will be managed by the chamber, and the person who chairs that department will be added to the chamber board." (BizWest)

COMMUNITY & OTHER INDUSTRY NEWS

FEATURED LISTING

NAI Affinity is pleased to present this prime residential development site for sale located near the NEC of the intersection 10th Street (U.S. Highway 34) and 71st Avenue in west Greeley. This opportunity is part of a 135 acre mixed-use community which includes: single family, townhomes, multifamily, as well as many retail and commercial uses. The site is surrounded by nearby amenities, recreation, services, health care and is within approximately 1/2 mile to the King Soopers grocery anchored retail center to the south on 10th Street (Highway 34 Business Route). Click here to learn more about this opportunity.

ccw - NoCo Newsletter | February 8, 2024 - NAI Affinity

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