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InterQuest Parkway making snail’s progress

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InterQuest Parkway making snail’s progress

At its northernmost point, Powers Boulevard is met with a juxtaposition. By now, InterQuest Parkway was supposed to be a vibrant strip of hotels, entertainment venues, restaurants, offices and residences. Instead, semi-finished buildings left vacant for 10 years stand mere feet from new construction. Stymied by a stagnant economy and developer bankruptcy, associated players are… Continue Reading InterQuest Parkway making snail’s progress

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Discarded main streets symptoms of bigger issue

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Discarded main streets symptoms of bigger issue

In 1985, Citizens Goals launched “Project 2000,” a community-based effort to find “creative solutions to the challenges affecting our quality of life in the Pikes Peak Region now and into the future.” The project focused on fears that badly planned and poorly regulated development would degrade the region’s quality of life. While the lengthy draft… Continue Reading Discarded main streets symptoms of bigger issue

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Commercial real estate moves

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Commercial real estate moves

Weston Thomas of Colorado Springs Commercial brokered the sale of the 22,000-square-foot property at 2270 La Montana in Colorado Springs to the Island Cattle Company LLC. The sale price was $2.5 million. The seller was Montana Springs LLC, and the tenant broker was Matt Call from NavPoint Real Estate. Also, the Piñon Valley Industrial Park at… Continue Reading Commercial real estate moves

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FHA borrowers to save under Obama proposal

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FHA borrowers to save under Obama proposal

President Obama last week proposed lowering insurance premiums on FHA-insured loans by 50 basis points, claiming this would save 250,000 borrowers an average of $900 annually in house payments. “The annual premiums on FHA loans, an especially popular source of financing for first-time home buyers, have increased five times since 2010,” according to an article in… Continue Reading FHA borrowers to save under Obama proposal

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Oasis apartments sold for $40 million

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Oasis apartments sold for $40 million

Steadfast Apartment REIT bought the The Oasis, a 252-unit apartment community in Colorado Springs for $40 million. The transaction represents the REIT’s entry into Colorado. “We believe this property is well-positioned in a market experiencing mid-wage job growth that is much stronger than the U.S. average and has limited new apartment construction,” said Ella Shaw… Continue Reading Oasis apartments sold for $40 million

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Griffis/Blessing buys $45.5 million apartments

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Griffis/Blessing buys $45.5 million apartments

Griffis/Blessing, Inc., purchased the Bear Valley Park Apartments in Lakewood Tuesday, Dec. 30. The sales price was $45.5 million. The Class A-/B+ community was built in 2003 and is comprised of 260 apartment units with an average unit size of 996 square feet. The community amenities include a newly renovated clubhouse, a swimming pool, a state-of-the-art… Continue Reading Griffis/Blessing buys $45.5 million apartments

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Debt higher in Colorado than national average

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Debt higher in Colorado than national average

Average consumer debt in Colorado, excluding first mortgages, declined for the third consecutive quarter to $18,816, according to the Federal Reserve Bank of Kansas City’s latest Consumer Credit Reports. In Colorado Springs, 5.2 percent of mortgages are past due, or 30 days or more delinquent, including those in foreclosure, according to the Fed. Also, 2.5… Continue Reading Debt higher in Colorado than national average

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Real estate deals here total $4.8 million

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Real estate deals here total $4.8 million

The Kameron Family Partnership sold its 34,182-square-foot shopping center at 750 Garden of the Gods Road for $2.9 million. Michael Helwege of Colorado Springs Commercial was the sales broker. The new owner is Vieux Carre Holding Company, a firm founded in May this year with an address in Castle Pines and a registered agent named… Continue Reading Real estate deals here total $4.8 million

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Redfin real estate expands to the Springs

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Redfin real estate expands to the Springs

Redfin, a “customer-first” real estate brokerage firm will branch its home-buying and selling services to Colorado Springs. People can now work with Redfin agents to buy and sell homes in El Paso County as well as Monument, Palmer Lake, Woodmoor, Black Forest, Falcon, Fountain, Security-Widefield and Woodland Park. “We’ve been eager to extend our services to… Continue Reading Redfin real estate expands to the Springs

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Springs’ leases among lowest cost in U.S.

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Springs’ leases among lowest cost in U.S.

The growing reliance on cloud computing is reshaping traditional network computing and boosting demand for leased data center space in the U.S. For occupiers leasing a data center, Colorado Springs ranks among the markets with the lowest total project cost for leasing a data center, according to CBRE Group Inc. The CBRE Group, a commercial… Continue Reading Springs’ leases among lowest cost in U.S.

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