A project that will see the eventual construction of nearly 450 new housing units of varying sizes has received good news from the Fort Collins City Council.
The project, set for mostly undeveloped land on the northeast side of the city, will see the construction of homes to be priced anywhere between just under $300,000 and nearly $450,000.
A smaller section will include around one hundred affordable rental units.
The council vote created a series of metropolitan districts where revenue from property taxes will be used to help pay for the roughly $30 million in infrastructure needed for what is being called the Northfield subdivision.
To be developed by the Windsor, Colorado-based Landmark Homes, the subdivision will include just over three hundred condominiums and 138 townhomes, as well as a 3,000 square foot mixed-use building.
The project has been several years in the talking stage and is partly designed in response to a need for more housing in Fort Collins in a market that has also seen a significant increase in home prices.
Earlier this year, the Wall Street Journal listed Fort Collins as one of fifteen cities in the U.S. with the greatest increase in home prices since the Great Recession.
Construction could launch sometime in 2020.
By Garry Boulard
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