Word was out this week about what could be one of the bigger commercial real estate deals in Colorado Springs so far this year. It hasn’t closed yet, but Blake Allen of Manitou Springs-based Allen Realty has agreed to buy the 185,000-square-foot space that was formerly a Macy’s department store at the Citadel Mall. The […]
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As a young, single and freshly transplanted Coloradan, I’m no stranger to the woes of apartment hunting — as well as the dread of paying subsequent rent and utility bills. The Apartment Association of Southern Colorado released earlier this month its third-quarter “Colorado Springs Metro Area Apartment Vacancy and Rent Study,” which noted that our […]
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Colorado Springs has seen a less active year for real estate, but it was back in 2000, according to the latest figures from Public Trustee Tom Mowle. Mowle reported that there were just 2,454 deeds released in October. Deeds are released when someone sells a home, refinances or pays off a mortgage, which Mowle has […]
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With the Federal Deposit Insurance Corp. holding lenders to tighter capitalization standards, commercial developers in search of project financing are facing an uphill battle. In fact, loan balances at commercial banks fell at the fastest rate in at least 25 years during the third quarter, the FDIC reported last week. On a national basis, outstanding […]
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The Ivywild School development was envisioned as a gathering place in a historic neighborhood where people could sip a handcrafted beer, enjoy a meal or snack, buy locally grown food, go to a concert or attend a meeting. Since it opened in the summer of 2013, Ivywild, at 1604 S. Cascade Ave., has promoted redevelopment, […]
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Mortgage and subprime lenders have announced nearly 70,000 layoffs in the first three quarters of 2007, according to Challenger, Gray & Christmas Inc., which tracks corporate job cut announcements. That’s a more than five-fold increase from the 12,874 announced job losses in mortgage lending tallied by Challenger in all of 2006. “The heaviest job cutting […]
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Here’s one of the standard Colorado Springs narratives: Once upon a time there was a beautiful, cultured city of 34,000 nestled beneath Pikes Peak. But sometime in the 1950s, hordes of short-fingered vulgarians descended upon the city, transforming it into a wilderness of tract houses, beige subdivisions and cookie-cutter shopping centers. There’s some truth in […]
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The proposed 2.4-million-square-foot Copper Ridge project won the City Council’s support amid one of the worst retail environments in Colorado Springs in more than a decade. Vacancies at local shopping centers are at a 10-year high, rents are down and economists suggest the days of heavy consumer spending are behind us — forever. Perhaps more […]
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Hoff & Leigh’s recent celebration of a new office in Salt Lake City could be just the first of many to come. Tim Leigh, who co-founded the homegrown commercial real estate firm in 1987, said the company is looking to expand nationally and aims to open six new offices this year and another 12 in […]
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While 2016 is proving to be another record-breaking year for the local residential real estate market, the increasing likelihood of mortgage rate hikes is creating uncertainty for some and opportunity for others. Although November saw a slight dip in home sales, monthly sales grew 46.7 percent above the same time...
LLX Central Development purchased the 110-unit Amber Ridge Apartments at 2963 E. Bijou St. late last month. The Denver company paid $3.13 million for the property, built in 1995. It was originally constructed as the second phase of the 90-unit Cottonwood Park complex. The Amber Ridge complex was a stable 95-percent leased complex at the […]
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Following are the most expensive foreclosures over $200,000 that sold at the El Paso County Public Trustee’s foreclosure auction on Wednesday, March28. They are listed in order of bid amount.
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