NoCo Newsletter | April 5, 2024
Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of housing legislation, Fort Collins land use, Fed announcements, and more.
REAL ESTATE & BUSINESS NEWS
- Ladera Project Wins Big in Timnath Election, Incumbent Town Council Member Loses Seat
- “Timnath voters on Tuesday overwhelmingly rejected a measure that would have restricted annexation of land containing active mining permits, voted off an incumbent Timnath Town Council member, and elected a new mayor and two new council members.” (Coloradoan)
- Bill That Would Outlaw Roommate Rules Like Fort Collins’ U+2 Awaits Governor’s Signature
- “The sponsors of the bill say it is meant to increase more affordable housing options and encourage denser living. The bill targets local ordinances that bill sponsors say are arbitrary and discriminatory.” (Coloradoan)
- Planning Commission Recommends Changes to Fort Collins’ Revised Land Use Code
- “Fort Collins’ Planning and Zoning Commission wants City Council to restore three controversial pieces of the proposed land use code it eliminated to help satisfy critics…. commissioners unanimously recommended allowing some accessory dwelling units, such as in-law apartments, in the urban estate and residential/low density zones. They also recommended reducing the minimum lot size for ADUs in the neighborhood conservation, medium density district (NCM) zone from 10,000 square feet to 9,500 square feet. They left six other recommendations alone, choosing to ‘pick our battles,’ ” but that said, “The ADU discussion may be out of the city’s control if a bill going through the Colorado legislature passes. House Bill 24-1152 would require more densely populated areas, like Fort Collins, to allow, subject to an administrative review, one accessory dwelling unit to a single-unit detached dwelling. The bill also prohibits those jurisdictions from enacting or enforcing laws that would restrict them further.” (Coloradoan)
- Ravina Rising on Windsor’s South Side
- “The first home in Journey Homes’ new Ravina subdivision is expected to be completed Friday. The development on the southeast corner of Crossroads Boulevard and Weld County Road 17 will contain 229 single-family residential units.” (BizWest)
ECONOMIC & EMPLOYMENT NEWS
- Could Northern Colorado Regional Airport Ever be a Major Airport? A Consultant Thinks So
- “An airline entering the market now will have an advantage as the airport and region grow, he said. As Denver’s population explodes, those in south Denver will gravitate toward the Colorado Springs airport, while north Denver residents would likely come to Loveland, creating a “catchment” population of about 3.59 million, including southern Wyoming, Skinner said.” (Coloradoan)
- Brisk Hiring Bolsters Fed’s Cautious Stance on Rate Cuts
- “U.S. employers added a seasonally adjusted 303,000 jobs in March, the Labor Department reported Friday, significantly more than the 200,000 economists expected. The unemployment rate slipped to 3.8%, versus February’s 3.9%, in line with expectations. Average hourly earnings rose 4.1% from a year ago, the smallest gain since June 2021.” (WSJ) This shows that, “the U.S. can continue to expand employment without fanning inflation.” (WSJ)
- Powell Still Sees Room for the Fed to Cut Rates This Year
- “Stronger-than-anticipated economic activity this year hasn’t changed the Federal Reserve’s broad expectation that declining inflation will allow for interest-rate cuts this year, Chair Jerome Powell said Wednesday….Most officials continued to see at least three cuts as appropriate this year in projections submitted at their most recent meeting last month.” (WSJ)
COMMUNITY & OTHER INDUSTRY NEWS
- Client Testimonials
- 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.
- North I-25 Express Lanes Project Nears Completion
- 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. 3 Busiest in the World
- 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 this infill commercial land development site. The site offers a highly desirable location, as it is situated on a hard corner, providing excellent visibility along Broadway. Its close proximity to Downtown Denver ensures convenient access to the city’s vibrant cultural scene, shopping, and employment opportunities. In addition to its prime location, the site benefits from being surrounded by numerous amenities, several new multi-family projects in the immediate area, and is approximately a 10 minute drive to Downtown Denver, Empower Field, Ball Arena, Colorado Convention Center, Union Station and countless restaurants, attractions and amenities. Future building could include a patio, rooftop area with approximately 7 dedicated parking spaces on the Property. The zoning allows for the construction of up to 3 stories high. This provides flexibility for developers to create multi-level structures that can accommodate a variety of uses, such restaurant, retail, office or mixed-use. Seller financing available. Click here to learn more about this opportunity.
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