Project Category: Original Use Property
Mixed Use, Commercial retail (28,000 sq. ft), 24/32 plex rental apartments (312 units), 2 hotels (65/71 units), 1 gas station, 2 restaurants, townhomes TH (179 units ) and single-family SF(28 units) development, 50,000 sf. flex space. This will have a 50% LTV on completion.
Project Qualification: Original Use PropertyReal Estate:
Non-Real Estate: Merto DistrictTotal Capital Required: $230,825,321Equity Required: $17,700,000Debt Required: $99,110,482Project Control: We own all the key propertyTimeline: 30-90 daysAddress: 749 CO-91 Leadville Colorado 80461 United States
This Planned Unit Development will have final approval by September 2019. It will incorporate 502 acres of land that will be purchased outside of the
Opportunity Zone Fund (OZF) (capital gains deferral) which also includes its own Metro District. Inside the OZ is 88 acres containing the items below with the remaining 414 acres outside the OZF. The TH and SF will be sold to fund the development of the rental and commercial property that will be held for 10 years. Completion of first plat construction to be 6-7 years with additional entitlements and construction to proceed for years to come. The local community is very receptive to growth right now. We are ideally positioned for Eagle and Summit Counties to provide affordable housing to Vail and Copper Mountain Resorts.