4300 Wilson Ave
Loveland, CO 80538
Lee Farms · Land For Sale · 247.00 AC

Lee Farm is a 247-acre site that is located adjacent to the Hogback in Loveland, Colorado. The site is zoned for 820 single-family lots and multi-family units, and has stunning views to the north and south of the project. Demand in the northern Colorado market for new homes is as high as it has ever been, with supply constraints existing due to water, jurisdictional approaches, construction costs, and development costs limiting the number of new homes that can go to market. There is still work to do in order to get final entitlements, including a development agreement with Loveland and engineering in order to record a final plat. Demand for lots in this submarket should be high, and there is an opportunity to create segmentation within the community through different sized lots and product types. This should allow a developer to sell to multiple builders and create velocity for district expenses to be reimbursed through bond sales. Loveland currently has only one master plan, which is Centerra, and this project should provide an opportunity to create something that is new, branded, and monumented. Homes are trading in the $250 to $300 per square foot range, which should be the assumption for Lee Farm.