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Fifteen months ago, a private investment group headed by Colorado Spring’ own Schuck Corp. President Bill Schuck announced it would invest $400 million or more in an 90,000-seat auto racetrack and entertainment complex on 1,100 acres of land near the Denver International Airport. A year later, the group has lined up financing, completed detailed schematics […]
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The Colorado Springs residential real estate market has more than just rebounded. It’s on fire. “This is probably the best market for selling a house in 12 years,” said Prudential Rocky Mountain Realtor Sylvia Jennings. And she’s not the only one with that kind of news. Local real estate agents are quick to share stories […]
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Guests stood in the empty office space at the open house of a vacant manufacturing building and warehouse in Fountain on July 26. They gathered to listen to presentations encouraging businesses to occupy the vast space. The 362,291-square-foot building located at 702 Bandley Drive, just east of Interstate 25, has been empty since 2007, but […]
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Although El Paso County Public Trustee Tom Mowle recently submitted a letter of resignation, he has already reapplied for his position and maintains that he has been a good steward of public money. All 10 of the state’s public trustees appointed by Gov. John Hickenlooper stepped down last week after a Denver Post story questioned […]
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The Pinery Wedding and Event Center announced today that it is ready to break ground on major renovations to the old Fish Market atop the Bijou Street hill overlooking downtown Colorado Springs. The long-empty building at 775 E. Bijou St. will be expanded to 22,000 square feet of high-end exclusive wedding and event space called […]
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Material and labor cost increases for construction are expected to be larger in 2008 than in the past 12 months, The Associated General Contractors of America said. AGC, a trade group, made the announcement today in its fifth Construction Inflation Alert, warning owners, budget setters and contractors of the expected higher costs. “Nonresidential construction has […]
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Denver-based Capital Real Estate has purchased the 240-unit Bellaire Ranch apartment complex at 4275 Sanders View Drive off South Murray Boulevard in south east Colorado Springs for $19 million — or $79,167 per unit in a Class A community built during 2003. The Class A property was more than 98 percent occupied at the time […]
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A lawsuit filed against the city doesn’t seem to present a conflict of interest for an asset manager who is running for City Council, despite concerns to the contrary. “If it was, I’d recuse myself,” said Kevin Butcher, who is running for a seat on City Council representing District 2, the northeast section of Colorado […]
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The challenges presented by a lack of affordable housing, along with the continued commercial development downtown and to the north, dominated area real estate news in 2018. The Colorado Springs housing market is predicted to be the hottest in the nation next year, according to Realtor.com. Median house prices across Colorado, including in Colorado Springs, […]
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A Colorado Springs-based real estate investment group recently purchased Ridgepointe at Gleneagle Apartments for $30.3 million. Griffis/Blessing Inc. finalized the purchase of the 240-unit property Dec. 3 with $22.5 million in financing from Freddie Mac and the remaining $8 million in investor equity, according to Chief Investment Officer Gary Winegar. The property is located in […]
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CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, released its July Home Price Index report Tuesday. Home prices nationwide, including distressed sales, increased 7.4 percent in July  compared to July 2013. This change represents 29 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices […]
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New buzz and energy in the commercial real estate market has some local brokers cautiously optimistic that this is the beginning of better times, but others in the industry remain skeptical. “There’s definitely activity,” said R.D. Trinidad, president and managing broker at Hoff and Leigh. “We’re having more positive inbound calls than we’ve had in […]
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