NoCo Newsletter | May 16, 2024

NAI Affinity
• 
May 16, 2024

NoCo Newsletter | May 16, 2024

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of a new private high school, housing legislation, economic expansion, and more.

REAL ESTATE & BUSINESS NEWS

  • NAI Affinity Announces Sale of 44.1+/- Acres at Encore to the Archdiocese of Denver for a Private School
    • "Caliber (NASDAQ: CWD), a real estate investor, developer, and manager, today announced the sale of a 44.1-acre parcel of land in Johnstown, Colo., to the Archdiocese of Denver for $7.7 million. Located at Colorado Boulevard and Highway 34, plans call for the construction of a new 450-student Catholic high school along with a chapel, athletic field, and gymnasium. The school will be ideally situated to serve students from the surrounding communities in Northern Colorado." (NAI Affinity)

NAI Affinity's Ryan Schaefer, Jake Hallauer, CCIM, and Lauren Larsen expertly worked as the seller's representatives for this transaction. Commenting on the transaction, Ryan Schaefer, CEO of NAI Affinity, said, “This private Catholic high school is going to be a wonderful addition to the Encore master-planned community, the Town of Johnstown, and Northern Colorado as a whole. Similar to patients coming to Medical Center of the Rockies or customers visiting SCHEELS, students and their families will travel from around the region to be here, solidifying Encore as the next great place to be in Northern Colorado. Congratulations on this exciting milestone to Caliber, Johnstown, the Archdiocese of Denver, and all the local church leaders, donors, and parishioners who made this possible!”

  • 8 New Laws Will Impact Renters, Owners, Development of Housing in Fort Collins (Coloradoan)
    • Cities, including Fort Collins, will have to allow ADUs
    • U+2, Fort Collins' rule limiting the number of roommates, is going away
    • Areas near transit lines − think the MAX line − will be expected to have goals for housing capacity
    • It'll be harder for landlords to opt to not renew a renter's lease
    • Fort Collins will get first crack at purchasing properties to preserve it as affordable housing
    • There will be more protections for those who live in mobile homes
    • Parking minimums are going away
    • It'll be a bigger risk to sue over in court over land use decisions
  • Opinion: Polis’ Property Tax Fix is a Bad Deal For Colorado Taxpayers
    • "Rather than materially reducing taxes that homeowners pay, this year’s version of a grand bargain actually increases the total effective property tax rate from 6.3% this year to 6.8%. For the property taxes paid to our schools, the legislature’s agreement would increase the property tax rate even more — to 7.1%." (The Denver Post)
  • Attainable Apartments for CSU Workforce to Open Soon
    • "Rendezvous Trail Apartments, the result of a collaboration between Colorado State University and Timberline Church, will be completed in June at 2918 S. Timberline Road, with 57 of its 180 one-, two- and three-bedroom units designated for the workforce at Colorado State University and priced at varying levels of area median income." (BizWest)
  • Sky-High Housing Costs Propel Construction of Rental Homes
    • "The breakneck pace (of multifamily development) is poised to continue this year before easing by 2025....Rental builders are betting that the lowest level of home affordability since the 1980s means that even relatively affluent Americans will remain renters, squeezed by near record home prices, mortgage rates above 7% and other rising home-related costs." (WSJ)

ECONOMIC & EMPLOYMENT NEWS

  • Inflation Eases in April as Prices Fall For Eggs, Bacon, and Bread, CPI Data Shows
    • "Overall prices increased 3.4% from a year earlier, down from 3.5% in March, according to the Labor Department’s consumer price index, a gauge of goods and services costs throughout the economy. On a monthly basis, costs rose 0.3%, below the 0.4% rise the previous month but above the 0.1% to 0.2% readings that prevailed last fall." (USA Today)
  • Larimer Ends Long Saga, OKs Thornton Water Pipeline
    • "Board of Larimer County Commissioners voted unanimously Wednesday night to grant the city of Thornton’s application to send water it owns through 10.4 miles of pipeline across the county....Thornton will construct the 42-inch-diameter pipeline to connect with other segments in Weld and Adams counties, delivering water it owns from six Larimer County farms it purchased in the 1980s....Five segments of the pipeline in Weld and Adams counties have been completed or will be soon, and the Larimer County section is the final piece." (BizWest)
  • Colorado State University Celebrates Groundbreaking of New $230M Veterinary Hospital
    • "The 213,000-square-foot facility on the South Campus that houses its current veterinary medicine facilities is expected to be completed in time for the start of the 2026-27 school year. It will allow CSU to increase the number of incoming students in its veterinary medicine program by 30 each year, from 138 to 168, growing the total capacity from 600 students to 720, a school spokesperson confirmed Friday. The new facility will also open up space on CSU’s main campus for more than 275 students in undergraduate biomedical sciences and other programs." (Coloradoan)
  • Continued Expansion Reaffirms Colorado Premium’s Commitment To Greeley
    • "In addition to its existing Greeley-based manufacturing facility and corporate offices, Colorado Premium opened a new manufacturing plant located on a 20-acre site at 2400 West 29th Street in Greeley on February 14, 2024. This is the third production facility that Colorado Premium operates in Colorado. The “CP-29th Street” facility specializes in fully cooked sous vide proteins. The new 175,000-square-foot facility will employ up to 275 workers as it moves through a four-phase startup. The site also offers ample space for future expansion as projected growth is realized." (UpState Colorado)
  • State Offers Incentives to Danish Wind Turbine Parts Company for Larimer County Expansion
    • "The company recently received a commitment from the state's Economic Development Commission for up to $3.37 million in Job Growth Incentive Tax Credits if it decides to move here. Project Saffron, if it comes here, expects to create 210 net new jobs at an average annual wage of $78,230, which is 119% of the average annual wage in Larimer County, according to the state office." (Coloradoan)

COMMUNITY & OTHER INDUSTRY NEWS

FEATURED LISTING

NAI Affinity is pleased to present Uptown: a new mixed-use, master planned, development coming to Northern Colorado, strategically located along the bustling Highway 34 corridor at the signalized intersection of CR 17. This dynamic project will offer a blend of retail, entertainment, medical facilities, lodging options, multifamily housing and industrial. Uptown is poised to redefine the commercial landscape in the west Greeley/Windsor area offering a vibrant and integrated environment for businesses and residents alike. Don’t miss the chance to be a part of this exciting opportunity in a rapidly growing region. Click here to learn more about this opportunity.

Representative infrastructure/road improvements video: click here.

image - NoCo Newsletter | May 16, 2024 - NAI Affinity

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