Windsong Mixed Use
Mixed Use
Marketing description
Residential & Commercial Development Land +/-1 to 12.5 Acres Sites | Zoned B-UD +/-50 to 300 Dwelling Units | Up to 4.5 Acres Commercial
+/- 1-12.5 Acres | Zoned B-UD | Medium to High Density Residential & Commercial
LC Real Estate Group is pleased to present the opportunity to develop up to 12.5 acres for up to +/- 8 to 24 dwelling units per acre, estimated at +/- 50 to 300 dwelling units and/or commercial lots within the Windsong 7th PUD.
Immanuel Lutheran Church (ILC) is seeking proposals for the development of surplus church land. ILC has provided several conceptual plans that preserve and expand several key elements of the site for future church use. The buyer is encourage to offer with a price based on closing with final site development plan approval. Conceptual site plans of buyers development are to be shared with any offer reserving tracts for planned future church uses. Location of any relocated church amenities are not fixed in location or character, however they are meant to be a guide for collaborative planning purposes.
Investment highlights
- Zoning & Entitlement: Currently zoned B-UD, “B- Developing Business” and “Unit Development”. The property has a highly flexible zoning code allowing for a variety of residential and commercial uses. Developers and/or end users may consider developing all or just a portion of the available site.
- Residential Uses: Potential residential uses include market rate and/or tax credit apartments, condominiums, townhomes, and paired homes. Three development areas range from 3 to 12.5 acres. Recent density study shows 246 to 266 multifamily and attached housing units.
- Location Overview: The property has a high profile location in North Loveland along US Highway 287/N. Garfield Ave. the main north/south corridor serving the Loveland-Fort Collins area and south of E. 50th St.
- Commercial Uses: Half acre to 4.5 acres of commercial frontage with lighted hard corner intersection on Highway 287 and E. 50th St. Potential commercial uses include destination retail, restaurant, coffee shop, automotive, neighborhood services, office, medical, and more.
- Water Dedication: City of Loveland Water District is more cost competitive than neighboring water districts with a stable and attractively priced raw water at $48,825 per acre-foot. Highly attractive CashIn-Lieu building program allows for 100% Cash-In-Lieu raw water dedication at time of building permit. Multifamily water dedication of 0.16 acre-feet per dwelling unit plus common area raw water.
- Location Advantages: Increased prices and rents from constrained future land supply due to foothills to the west, Fort Collins-Loveland public open space north of 71st Street and existing housing to the south. Higher priced Fort Collins housing market to the north and short commute time is driving housing growth and price appreciation in North Loveland Housing market.
- Market Survey: Limited new apartment product in North Loveland/South Fort Collins trade area, with three (3) projects built since 2022 totaling 280 units at approximately 98% occupancy. Average market rental rates for 1 Bed ($2.02/SF, $1,474/month, 729 SF), 2 Bed ($1.65/SF, $1,810/month, 1,096 SF), and 3 Bed ($1.64/SF, $1,961/month, 1,194 SF).
- Tech Ed Garage: Site plan for building of to be agreed upon size for annual car show and garage space for repairing cars
- Relocated Recreational Field(s): Preservation and relocation of a recreational fields to accommodate future development for church use. New site could include additional amenities like outdoor garden(s) and/ or pavilion. Potential creative uses of park space could double as onsite detention for future development.
- Fellowship/Community Building: Site plan for community building of to be agreed upon size for holding community events. Building would be placed in proximity to future residential units to promote community interaction. Community building could be separately owned by church or could be a shared use facility with cost sharing or lease back.
- Relocated Parking: Preservation of parking for church use to accommodate future residential development. Primary entrance is on the east side of facility and retaining or relocated parking with proximity to this entrance is necessary.
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