Ryan Schaefer and Jake Hallauer represented the Seller, Gerrard Development Corporation, in the sale of approximately 12.78 acres of land located within the 2534 Master Planned Community (near the southeast corner of I-25 and US 34) in Johnstown, CO to Continental Properties (Continental 389 Fund, LLC).
Continental’s apartment community will be called The Springs at 2534 and will be its fourth project within Colorado. The Springs will be located at the southeast corner of Larimer Parkway and Ronald Reagan Boulevard and will consist of 212 apartment homes, configured in 10 2-story buildings. The upscale market rate community will feature units ranging from 525 sq. ft. to 1,430 sq. ft., each with its own first floor entrance. Community amenities include a clubhouse with a resort-style pool, 24-hour tenant fitness center, pet playground and pet spa, car wash, and attached and detached garage options. Gerrard and Continental will also collaborate on an adjacent park and trail system that will be available to all of the residents of and businesses within 2534.
“We are excited to bring the Springs’ unique living style to Johnstown and the 2534 area. This product has been well received throughout the U.S. and is unlike anything in the area” said John Minahan, Director of Multifamily Development for Continental Properties. Minahan added “The tremendous mix of retail and employment development activity attracted us to 2534.”
“We are very pleased to welcome Continental Properties to 2534. They are a first-class developer and The Springs will be synergistic with retailers like SCHEELS and employers such as High Country Beverage and The Northern Colorado Rehabilitation Hospital – offering housing for their employees while bringing more customers to area retail and service businesses” said Gary Gerrard, President of Gerrard Development Corporation.