New Condos Address Gap in Fort Collins Housing Market
As the City of Fort Collins looks for housing solutions to meet the high demand in Old Town, a redevelopment project is underway that will transform a 67,000-square-foot, mixed-use property at the corner of Mountain Avenue and Mathews Street. The Neenan Company, a Fort Collins-based developer and design-build firm, has officially entered into a purchase agreement with Elevations Credit Union to lead the delivery of 22 one- and two-bedroom residential condos totaling approximately 30,000 square feet, located on the property’s third and fourth floors. The Neenan Company also serves as the architect and general contractor.
The Front Row on Mountain Avenue condos are designed to fill a market gap for homeowners seeking new, quality housing and accessibility in the heart of Old Town and its amenities. The project will enhance the housing options currently available, bringing upscale design and new construction to an area with a limited and aging stock of residential options.
“At The Neenan Company, we’re very proud of our tenure in Fort Collins, and are honored to deliver a dynamic project for our city,” said Randy Myers, director of real estate with The Neenan Company. “The collaboration with Elevations Credit Union provides a rare opportunity to deliver residential condos offering a cultivated living experience in a premier location. By combining our development expertise with our traditional architecture and construction services, we’ve been able to focus on all of the project’s details to ensure a product of which we will undoubtedly be very proud.”
Elevations Credit Union will occupy approximately 5,000 square feet of space on the first and second floors, operating a full-service branch and also hosting community events and financial seminars. The remainder of the first and second floors will feature approximately 9,600 square feet of retail space and 14,000 square feet of Class A office space.
Amenities include a 33-car underground parking garage with storage, with one parking spot reserved for each bedroom within the condo units; optional car charging capacity for each individual parking spot; a rooftop patio; and a dog run.
Upon completion, The Neenan Company will sell the condos ranging from about 800 square feet to 2,400 square feet in a mix of 12 one-bedroom units with 1.5 baths, and 10 two-bedroom units with 2.5 baths. Nineteen of the condos will also feature an additional study or flex space.
Construction on the redevelopment’s condo component is planned for early 2020. In July, Elevations Credit Union broke ground on its portion of the project featuring its full-service branch. The full redevelopment project is anticipated for completion in the first quarter of 2021.