Here’s a person way to offer with a housing scarcity in Fort Collins: Carve out an further bedroom in present condominium models.
Which is what the new Tennessee-centered proprietor of the 120-device Landmark Residences, 1050 Hobbit St., just south of the Prospect Road and South Shields Avenue intersection, options to do.
Brickstone Partners, which just bought Landmark and Stone Creek flats in Boulder for $81 million, options to change all 72 two-bed room apartments into 3-bedroom, two-bath units and industry them to students, mentioned Jeff Dawson of Studio Progress Providers, Brickstone’s consultant.
Made in the 1980s, the apartments “ended up intended with some further house in the residing spot that’s not that usable,” Dawson reported. “We plan to use it in a more productive way.”
In addition to building 72 new bedrooms, all 120 units will get comprehensive renovations which includes new flooring, kitchen and bathroom cabinets, quartz counter tops, stainless steel appliances, upgraded doors, new lighting and plumbing fixtures.
Renovations on the a single- and 3-bedroom apartments are expected to start out soon and wrap up by the stop of the calendar year. Design on the two-bedroom conversions are expected to get started just after the metropolis presents Brickstone the go-forward.
Tenants will be relocated within the elaborate for the duration of renovations, but an exact strategy has not been labored out. “We are functioning with our contractor to fully grasp how we would transfer by means of building, but we never have a remaining answer yet,” Dawson explained.
At present, the creating has 24 a person-bedroom, 72 two-bedroom and 24 3-bedroom units. When renovations are concluded, it will have 86 three-bed room residences
Dawson mentioned he anticipated the complicated to be promoted intensely towards college students, provided its proximity to Colorado State University. “It just can make a whole lot of feeling,” he stated.
Dawson was not sure whether or not the models would be rented by the bedroom, as is widespread observe for pupil-oriented housing. “But it is my expectation we are headed in that route.”
No exterior renovations or upgrades are prepared, with the exception of additional parking areas to accommodate the raise in models. “This is really clear-cut,” Dawson said. “We are seeking to really just make substantial enhancements to an growing older property.”
The preliminary design overview is the 1st step in the city’s advancement evaluate method. Right before a official application is submitted, the metropolis will call for Brickstone to hold a neighborhood meeting.
Dawson explained he’s currently reached out to a number of neighbors and will be reaching out yet again to examine the project in additional detail soon after he satisfies with planners this 7 days.
Landmark Flats is just north of vacant residence that is slated to develop into townhomes and apartments. Watermark Residential has proposed 348 units in 10 properties and 3,000 square toes of industrial room. That job is still likely by way of the city’s assessment system.
And it is just west of The Social flats that just opened for leasing.
These models are developed to be market rent not geared to college students, in accordance to options.
Pat Ferrier is a senior reporter covering business, wellbeing care and advancement challenges in Northern Colorado. Get in touch with her at [email protected]. Remember to assist her perform and that of other Coloradoan journalists by getting a subscription currently.