NoCo Newsletter | October 26, 2023

NoCo Newsletter | October 26, 2023

Discover our newest listings, recent happenings in the NoCo CRE community & other industry news. This edition brings news of an extended interest rate pause, the future of Fort Collins land use, voter approved Urban Renewal Projects, and more.

REAL ESTATE & BUSINESS NEWS

• Fort Collins City Council Gives Final OK to Land Use Code Allowing ADUs, Increasing Density
  • “Fort Collins City Council gives final OK to land use code allowing ADUs, increasing density. A revised land use code is set to go into effect in January after Fort Collins City Council gave it final approval Tuesday night.” (Coloradoan)
• Fort Collins, 2 Partners Join Forces on New Southeast Community Center with Pool, Library
  • “The city of Fort Collins will partner with Poudre School District and Poudre River Public Library District to bring an outdoor pool and library to land next to Fossil Ridge High School, a joint news release said. There’s potential for adding indoor pool facilities that could serve school district and community needs in the future.” (Coloradoan)
• Loveland Voters Will Decide Who Has Final Say Over Urban Renewal Projects in 2023 Election
  • “A “yes” vote would amend the city charter to require voter approval of plans in urban renewal areas.” (Coloradoan)
  • “A “no” vote would keep the decisions in the hands of the Loveland URA board and City Council.” (Coloradoan)
• Winter Recreation Area to Open in Windsor
  • “Hoedown Hill, a 12-acre sledding, tubing, skiing and snowboarding area, will open this year adjacent to the Raindance National Resort and Golf property in Windsor. At 1,200 feet, “we think it’s going to be the longest tubing hill in North America,” said Martin Lind, president of the Water Valley Co., who is developing this site…” (Greeley Tribune).
• Northern Colorado Airport’s Remote-Tower Developer Pulls Out
  • “The state is committed to resolving the issue, Ulane said, especially because it already has spent $8.8 million on the project.” (BizWest) David Ulane is the Director of CDOT’s Aeronautics Division.
  • “Both the Loveland and Fort Collins city councils on Tuesday night approved their cities’ 50% share of the airport’s 2024 operating and capital budget, at $12,494,493 each. The approvals came without discussion as part of the councils’ consent agendas.” (BizWest)
• The 11 Major U.S. Cities Where Home Prices Have Risen the Most
  • “As is the case nationally, home prices have risen in these places because there are simply not enough homes built to meet demand, says Danielle Hale, chief economist at Realtor.com.” (CNBC)

ECONOMIC & EMPLOYMENT NEWS

• U.S. GDP Grew at a 4.9% Annual Pace in the Third Quarter, Better Than Expected
  • “The sharp increase came due to contributions from consumer spending, increased inventories, exports, residential investment, and government spending.” (CNBC)
• A Final Environmental Report for Fort Collins’ Halligan Reservoir Expansion is Out
  • “Utilities Director of Water Jason Graham said the city has sufficient water rights but one of the lowest capacities for water storage along the Front Range.” (Coloradoan)
• Jerome Powell Signals Fed Will Extend Interest-Rate Pause
  • Powell’s remarks signal that the Fed will not pursue another hike at its upcoming Oct 31st meeting.
  • “Asked whether the recent jump in borrowing costs could substitute for further Fed increases, Powell added, “At the margin, it could.”” (WSJ)
• Household Net Worth Surged After the Pandemic Hit
  • “Households’ inflation-adjusted median net worth, or wealth, climbed 37% from 2019 to 2022, according to the Federal Reserve’s Survey of Consumer Finances released Wednesday. It was the largest increase since the once-every-three years survey began in 1989.”

COMMUNITY & OTHER INDUSTRY NEWS

• Client Testimonials
• 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 high quality flex building for lease within the 2534 Business Park. This modern facility features functional space and clear height with the option to add mezzanine space. The building is located in the heart of Northern Colorado’s fastest growing residential and employment areas, at the intersection of the region’s two main highways – Interstate 25 and Highway 34. Amenities nearby include: SCHEELS, numerous restaurants and retailers, healthcare, The Promenade Shops at Centerra, Marketplace at Centerra and more. Click here to learn more about this opportunity.

See previous newsletters here.

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