Denver-based BMC Investments recently bought two Colorado Springs apartment properties. BMC paid $4.2 million for 148-unit Timberlane Apartments at 3985 E. Bijou St. and $3.175 million for 95-unit Ashelyn Court at 930 N. Murray Blvd. Both complexes are about 90 percent occupied, according to a release from FirstBank, which financed the purchases. BMC plans to [...]
Continue reading …Michelle Shah did a little baking before she bought into the Cookie Advantage franchise, but she never imagined she’d own a cookie business. Cookie Advantage is a franchise based in Tulsa, Okla., that provides freshly-baked cookies in personalized tins that corporate clients can give as thank you gifts to their clients. Shah worked for several [...]
Continue reading …Rising rents and steady vacancy rates hold through new apartment construction
November 2, 2012 Comments OffLocal apartment rents continued to rise during the third quarter despite flat vacancy rates. Average rents hit a record high of $787 without adjusting for inflation and vacancy remained flat at 6.1 percent, according a report released today by the Colorado Division of Housing. The vacancy figures are different from what division of housing spokesman [...]
Continue reading …Amy Stretmater doesn’t waste time. She went to a craft show the day she arrived after moving to Colorado Springs from Chicago in September. A few weeks later she had a lease signed and now she has a pop-up holiday shop at 224 N. Tejon St. Her Koru & Company features items from her own [...]
Continue reading …Ron Butlin stepped down as the executive director of the Downtown Partnership Wednesday. He has been at the organization’s helm since 2008 and staff credit him with leading efforts to craft the new downtown form-based code, organizing downtown celebrations and implementing streetscape improvements. “It’s been a pleasure to collaborate with the diverse business people, philanthropists [...]
Continue reading …Ted Byer will open the first Title Boxing Club franchise in Colorado Springs on Nov. 4 at 4663 Centennial Blvd. Boxing has historically been a rough inner-city kind of sport. But the workout is increasingly gaining popularity and the trendy Title Boxing Club plans to open franchises around the country. “The mainstream really misses out [...]
Continue reading …Investors bought three of the 49 properties that sold in the El Paso County Public Trustee’s foreclosure auction Wednesday. The rest were sold to the lenders. Stan Kline paid $92,100 for a 1,447-square-foot tri-level home built in 1986 at 4755 Spacewalk Way (80918). That was more than lender GMAC Mortgage’s initial bid of $88,570.65. Jesse [...]
Continue reading …Hoff & Leigh’s recent celebration of a new office in Salt Lake City could be just the first of many to come. Tim Leigh, who co-founded the homegrown commercial real estate firm in 1987, said the company is looking to expand nationally and aims to open six new offices this year and another 12 in [...]
Continue reading …An independent audit of the city’s Urban Renewal Authority requested by Mayor Steve Bach recommends the authority and city partner more closely. The review, conducted by Hogan Lovells law firm, suggests the authority move into city offices and use city resources, such as planners and staff, in order to operate more efficiently. Questions about two [...]
Continue reading …More companies are using the Small Business Administration’s International Trade Loan program. The SBA’s recently revamped program has surged 106 percent in guaranteed loans and 207 percent in dollar volume. The loan allows small manufacturers to expand their facilities or buy equipment to manufacture products sold internationally. Small companies can take advantage of the loans whether [...]
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