Mortgage broker colorado springs

Colorado Springs Real Estate Briefs December 17, 2004

During the first week of December, the Fountain Valley School sold 1,247 acres of land to Lorson LLC for $8 million. Lorson, an entity controlled by Leroy Landhuis, a local developer, will use the land to develop a master-planned community. A development plan has been approved by El Paso County and construction for the residential/ commercial project is set to begin at the end of the first quarter of 2005, Landhuis said.

It's one of the few fully master planned communities out there, Landhuis said. The land is southeast of Colorado Springs at Fontaine Boulevard and Marksheffel Road, next to the Banning-Lewis Ranch. It was always kind of a bedroom community. It's definitely the next big boom area in Colorado Springs, he said. The Lorson Ranch will feature homes and businesses, but homebuilding is first on the to-do list. As for the development of commercial properties, When that will kick off will probably depend on rooftops, Landhuis said. More residents are needed in the area before restaurants and shops can dot the landscape. The names of developing companies have not been revealed, however. Your standard suspects have all been in here looking, Landhuis said.

A broker for the transaction, Dale Wheeler of Sierra Commercial Real Estate Inc., said the development will be largely residential. And the Fountain Valley School was not at all reluctant to part with the land, Wheeler said. We've been working with the school for about three years now, he said. We've had the assignment of marketing it since the spring of 2002. The value of land, Wheeler said, is dependent upon what the land could be used for. With the population in Colorado Springs expected to continue to increase, the construction of new homes on a previously undeveloped parcel of land will help absorb some of the growth.

The development plan includes space for trails, parks, open space and school sites, Wheeler said.

New place to call home on the horizon for seniors

MacKenzie House LLC has partnered with Morningstar and LBA- Community Development Group to create a continuing care senior campus at Fillmore and Union in Colorado Springs. Construction is set to begin late in 2005 with the first residents moving in mid-2006, said Tim Yeager, vice president of MacKenzie House.

The cost of the project is set at $55 million, according to a news release. Living on a senior continuing care campus will offer residents the freedom of independent living and the convenience of senior-friendly design and no-hassle maintenance. Up and down the Front Range we have a rapidly growing senior housing population, said Don MacKenzie, president and CEO of MacKenzie House. We targeted senior housing because of what we saw in the demographics in Colorado. The campus, MacKenzie said, is designed to allow seniors to age in place, meaning that as their needs change they won't have to move elsewhere to receive greater assistance. It allows you to stay on campus as changes take place, he said.

The project will encompass 16.8 acres and will include 227 units. There will be a mix of independent living cottages (65), independent living apartments (95) and assisted living apartments (67). The cottages are designed to accommodate one or two people and the single- level floor plans range in size from 1,100 square feet to 1,550 square feet. The cottages are only available on a for-sale basis. The pricing is not at all finalized, but it will be in the mid-200s, Yeager said.

Campus residents will receive medical services a la carte to their homes and their apartments, Yeager said. They want to see modern medical services at their doorstep. Both the independent living apartments and the assisted living apartments are single four-story buildings. What makes this development different, Yeager said, is its list of amenities. The independent living apartments will feature a theater and fitness center and the assisted living apartments will include therapy rooms, a bistro and activity rooms.

In Colorado Springs you have very few facilities that are campuses. Most of your senior facilities are a single building, MacKenzie said. We have not chosen a contractor yet, he said. The campus was designed by the architectural firm of Lantz-Boggio.

New GE Johnson contracts

GE Johnson has been selected to complete Phase II of the Compassion International headquarters in Colorado Springs. The second phase will include the expansion of warehouse space and the construction of a four-story office tower. Construction is expected to be under way starting early in 2006 and will be finished in March 2007. Bollar and Associates has been selected as the architect for the project.

GE Johnson has also been selected to remodel and build additions to the Pinedale, Wyo. Sublette County Rural Healthcare District's clinic. The project will include 11,500 square feet for additions and 5,500 square feet for renovations. Construction is scheduled to start in spring 2005.

Colarelli Construction to build new veterinary clinic

Colarelli Construction has been selected to build a new veterinary clinic with Veterinary Specialists of Southern Colorado. Construction is expected to begin in March 2005. Architect James W. Nakai and Associates, along with a team of consultants, are working with Colarelli on preconstruction planning.

Home sales and home value appreciation

Freddie Mac has reduced its 2005 total home sales forecast to 7.5 million. This represents a 4 percent decrease from 2004 levels. A slight increase in mortgage rates has attributed to the decreased sales forecast according to Freddie Mac. Housing starts for 2005 are estimated to total 1.8 million.

The company estimates that the annual home price growth rate will stand at 7 percent. This growth rate may be due in part to higher construction costs, optimistic employment outlooks and vanishing open land in high growth areas according to Freddie Mac.

Cub Scout donates $100 to Greccio Housing

Shawn Anderson, an 8-year-old Cub Scout from Cub Scout Pack No. 117 in Monument, has donated his $100 prize from popcorn sales to Greccio Housing. Greccio Housing helps provide affordable housing to low-income area residents. Anderson was awarded with a certificate of appreciation from Greccio Housing on Dec. 16. Greccio properties are financed by grants, loans and donations from government and private entities.

Anderson is a third-grader at Lewis-Palmer Elementary School. His parents are Steve and Theresa Anderson of Monument. His mother said he had plans to donate his prize money to charity at the start of the popcorn selling season, according to a news release. Anderson was only one of two scouts in his pack to win the $100 prize by selling a minimum of $1,000 in popcorn.

Big homes on the range

Six developments in Colorado appear on a list of the top 100 cities in the United States with the largest homes. The list is a part of the http://www.city-data.com Web site. All six are within the top 50.

No. 1 Greenwood Village - Arapahoe County, 8.5 rooms

No. 13 The Pinery - Douglas County, 8.5 rooms

No. 17 Woodmoor - El Paso County, 8.5 rooms

No. 28 Castle Pines - Douglas County, 8.5 rooms

No. 29 Cherry Hills Village - Arapahoe County, 8.5 rooms

No. 41 Stonegate - Douglas County, 8.4 rooms