Commercial condo project begins construction in Fort Collins

FORT COLLINS — Within days, steel will begin to rise on an infill project in east Fort Collins called the Lofts at Timberline. The project, just west of Timberline Road on Bear Mountain Drive, will join medical clinics, coffee shops, restaurants, and other businesses in what its developers are calling “building community.” The project, owned by virtually everyone involved in its development from real estate agent to engineers and contractors, will draw numerous additional businesses to the neighborhood when complete. In fact, six of the 19 commercial condominium units are already sold and six more have signed letters of intent. When done, the Lofts will be about 39,000 square feet in size. Each of the 19 units is about 2,200 square feet. The Lofts celebrated its groundbreaking Tuesday, although some of the foundation work was evident in the background. Zach Smith, an appraiser with CBRE who also launched a development company called Omnia Cum Deo LLC in February 2019, is the primary developer. He was joined by Tom Livingston of Livingston Real Estate & Development LLC, and Keith Meyers, principal at Ditesco LLC, an engineering firm, to lead the project. Joining them in ownership were several members of Elder Construction Inc., the contractor on the project. Several silent partners also joined in ownership, with Bank of Colorado providing financing. The project built on speculation will total about $6 million in cost, Livingston said. “We’re finding that the pandemic is not having an impact” on finding interested buyers, Livingston told BizWest. “As the old guy on the project, I threw up caution, but the partners wanted to move ahead, and they were right,” he said. First to the table when it came to buyers of the condo units was Outrun Parkour, tradename for Ascent Movement LLC. “Outrun connected early on this project,” Smith said in introducing future occupants of the facility. It bought two units. Outrun provides acrobatic activities for those looking to “overcome challenges, unlock abilities,” according to its website. The word “parkour” means “the sport of moving rapidly through an area, negotiating obstacles by running, jumping and climbing.” Ly’s Timberline Nails and Spa LLC bought two units, and Dutch Bros. Coffee, trade name for DB NOCO LLC, also bought two, for a future office and corporate training space. Dutch Bros. has a coffee shop at Timberline Road and Bear Mountain Drive, across the street from the Lofts.  © BizWest Media LLC
Source: BizWest