NoCo Newsletter | September 26, 2024

NoCo Newsletter | September 26, 2024

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of NAI Affinity CoStar Power Brokers, Fort Collins Land Use Code commercial updates, cooling inflation on the horizon, and more.

REAL ESTATE & BUSINESS NEWS

Please help us congratulate Ryan Schaefer, Jake Hallauer, and Lauren Larsen of NAI Affinity who came out on top in the list of CoStar’s Q2 2024 Power Broker Quarterly Deals Award in Fort Collins submarket. Read more about their achievement here.

• Care About How Fort Collins Develops? Land Use Code Phase 2 to Focus on Commercial Areas
  • “This round of review will focus on enabling more mixed-use development, especially along transit corridors and within commercial centers, a city news release says. It will seek to promote infill that is compatible and complete streets. And it seeks to create resilient commercial centers.” (The Coloradoan)

Get involved in the public process. Learn and share feedback at one of five neighborhood visits planned in October:

Oct. 4: Poudre Valley Plaza at Horsetooth Road and Shields Street
Oct. 7: Jessup Farm Artisan Village at Timberline Road and Blackbird Drive
Oct. 9: Harmony Crossing at Harmony and Timberline roads
Oct. 10: Whole Foods Market at College and Rutgers avenues
Oct. 12: Scotch Pines and Drake Road and Lemay Avenue

• Judge Places Windsor Sports Complex in Receivership After Loans Go Unpaid
  • “Future Legends Sports Complex’s ownership team was delivered another blow when a Weld County District judge placed the financially beleaguered Windsor venue under receivership this month….The order removed Jeff Katofsky and his ownership team from operations of the 100-acre sports complex and appointed Cordes & Company of Denver as the receiver of the property. The move came after Katofsky failed to make payments on six loans originally totaling nearly $47 million to U.S. Eagle Federal Credit Union in Albuquerque, New Mexico, court records show.” The credit union filed court documents Aug. 30 to foreclose on the loans for construction of the complex’s multisport dome, team dormitory and stadium.” (The Coloradoan)
• Former Lyric Building Demolished After Sitting Vacant for 7 Years in Old Town
  • “‘Bohemian is moving forward with plans to develop the property located at 300 E. Mountain Ave. Development plans include the demolition of the current building to provide enhancements to the Armory music venue,’ Bohemian Property Management director Colin Vito said in a statement emailed to the Coloradoan Thursday.” (The Coloradoan)
• Indoor Pickleball Facility Coming to Jessup Farm
  • “Construction is set to begin in early 2025 in Fort Collins’ Jessup Farm Artisan Village development on a 27,000-square-foot facility that will include 10 indoor pickleball courts, plus a pro shop, private event space and grab-and-go refreshments.” (BizWest)
• Johnstown Council Approves Development Plans Next to Buc-ee’s
  • “The land surrounding Buc-ee’s is getting platted for development of housing, commercial and light-industrial uses in the future, which could ultimately see more than 36,000 daily trips in the area.” (BizWest)
• U.S. Home Sales Slipped in August Despite Falling Mortgage Rates
  • “Sales of previously owned homes in August fell 2.5% from the prior month to a seasonally adjusted annual rate of 3.86 million, the National Association of Realtors said Thursday, the fifth time sales have declined over the past six months. The average rate for a 30-year fixed mortgage has slid steadily from the spring to 6.09% this week, the lowest level in more than a year, according to Freddie Mac.” But with high housing prices and the inventory of homes for sale still lower than normal, many buyers are waiting for rates to fall further.” (WSJ)

ECONOMIC & EMPLOYMENT NEWS

• Inflation Extends Cooling Streak to Hit 2.5% in August
  • “The consumer-price index climbed 2.5% from a year earlier, according to the Labor Department, decreasing from 2.9% in July and extending its cooling streak to five months. Core inflation, a measure that excludes volatile food and energy costs, held roughly steady at 3.2%.” (WSJ)
• September Consumer Confidence Falls the Most in Three Years
  • “The board’s consumer confidence index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021. The Dow Jones consensus forecast was for a reading of 104. By contrast, the index had a reading of 132.6 in February 2020, a month before the Covid pandemic hit.” (CNBC)
• Timnath Begins Construction to Bring Municipal Broadband to Town
  • “It’ll take three to five years to build out the full project, Pulse has said, but the first phase of construction is expected to take six to nine months…Timnath is using $20 million in capital improvement funds to fund the initial buildout. In return, the town will get 25% of gross internet income, which it estimates amounts to a 2% to 6% return on investment over 20 to 30 years. Full payback is projected within 26 years, according to the news release.” (The Coloradoan)

COMMUNITY & OTHER INDUSTRY NEWS

• Client Testimonials
• Old Town Square No. 4 in USA TODAY 10 Best Readers’ Choice Awards Best Public Squares List
• Most Peaceful Place to Live? Fort Collins Tops the List With Outdoor Recreation, Low Noise
• Here Are 15 Road Projects at the Top of Fort Collins’ List for the Next 10 Years.
• Fort Collins Area Chamber of Commerce: Northern Colorado Economic Overview
• Northern Colorado Boasts Nine of Top 20 Fastest-Growing Communities in State
• 2 Colorado Cities in Top 4 ‘Best Places to Live Rankings
• Denver International Airport Ranked No. 6 in Passenger Traffic Worldwide
• Support Your Local Bold Voice of Business by Contributing to the 13th Annual Moving Fort Collins Forward! Campaign

FEATURED LISTING

NAI Affinity is pleased to present available sites within The Ridge Johnstown (The Ridge, West Ridge, North Ridge, South Ridge, and Blue Spruce Ridge), a new master-planned community in Johnstown, Colorado. The Ridge Johnstown is an over 440-acre master-planned, mixed-use development with immediate access to I-25 via the Highway 402 interchange. Ideally situated in the heart of northern Colorado, and now under construction. The adjacency to, and visibility from I-25 make it one of the most
prominent master planned communities in the region, providing excellent visibility to more than 86,000*
vehicles a day

Click here to learn more about this opportunity.

See previous newsletters here.

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