• This project consists of 3 separate parcels with approximately 31 2/3 city lots that measure 25 feet by 125 feet with an aggregate total of approximately 98,000 SF.
• There are 7 lots on Carr Avenue directly adjacent to the U.S. Post Office (Parcel A).
• There are 17 lots between Carr Avenue to the north and West Bennett Avenue and to the south and B Street to the east (Parcel B).
• There are an additional 7 2/3 lots on West Bennett Avenue (Parcel C).
• Water and Sewer infrastructure are available to these sites, but not readily available to much of Cripple Creek.
• The rocky geology of Cripple Creek limits the number of sites that can be developed. These sites do have compatible soil for development.
• Comprehensive Preliminary Development Package available w/signed NDA
• Rental vacancy rate is below 2% and virtually all rental units are old and many are in poor condition in need of major repairs.
• Studies indicate the market needs 540 residential units of all types to keep up with demand through 2025.
• The town of Cripple Creek is highly supportive of this 108 unit apartment development.
• Newmont Mining employs 700 people in their Cripple Creek gold mine.
• Bronco Billy’s has a $180 million expansion (gaming, 300 room hotel & parking garage).
• Triple Crown Casinos has a $40 million expansion approval, that will add 150 hotel rooms.
• Wildwood Casino is finalizing plans for a $14 million, 102 room adjacent hotel.
• Century Casino to restore and expand old Palace Hotel by up to 55 rooms.
• Parcels are within walking distance of all schools and gaming district.
