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Greccio to buy 2 foreclosed apartment buildings

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Greccio Housing is preparing to close on two apartment buildings that will increase their inventory of affordable housing by more than 30 percent. Lee Patke, Greccio executive director, said he couldn’t discuss specifics about the buildings or the bank that owns them until the closings on Feb. 6 and March 6. But the two buildings,… Continue Reading Greccio to buy 2 foreclosed apartment buildings

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Nor’Wood taking apartment-market plunge

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Nor’Wood Development Group is diving head-first into the apartment business for the first time since the company’s infancy. It is partnering with Irvine, Calif.-based Western National Realty Advisors to build four apartment complexes with at total of 1,075 units in Colorado Springs and Fountain. “We were involved in the apartment business many, many, many years… Continue Reading Nor’Wood taking apartment-market plunge

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Griffis/Blessing buys 240-unit apartment complex

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Griffis/Blessing purchased the property from The Praedium Group, based in New York City, and Hamilton Zanze, based in San Francisco. Continue Reading Griffis/Blessing buys 240-unit apartment complex

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Survey to gauge desire for downtown apartments

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DHN Planning & Development is conducting research to decide whether to move forward with downtown apartments. DHN owner Dasey Nicklasson began circulating a survey earlier this month asking whether people who work downtown might want to live there too. She is considering building an apartment project within five or six blocks of Pikes Peak Avenue and… Continue Reading Survey to gauge desire for downtown apartments

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Out-of-state investors are eying Colorado Springs’ rapidly improving apartment market. The average rent in Colorado Springs hit a record high during the third quarter of this year as vacancy rates dropped to their second-lowest in a decade, according to a report from the Colorado Division of Housing. The Colorado Springs market was depressed longer and… Continue Reading Low apartment vacancies, high rents entice out-of-state investors

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Nor’Wood Development Group will break ground on a 240-unit apartment development in Fountain on Monday, Oct. 17. The $30 million project, called the Mesa Ridge Apartments, will be located about two miles from Fort Carson’s Gate 20 and just down the road from the thriving Markets at Mesa Ridge retail development. Plans call for 84… Continue Reading Nor’Wood begins work on $30 million Fountain apts.

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Nor’Wood to build Fountain apartments

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Nor’Wood Development Group will break ground on a 240-unit apartment development in Fountain on Monday.
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A Florida-based apartment and investment company purchased its second apartment community in Colorado Springs. Continue Reading Apartment management company makes second CS acquisition

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Colorado’s hot apartment market has prompted at least two out-of-town investment companies with ambitious goals and deep pockets to zero in on Colorado Springs. The real estate companies, Advenir and Seagate Properties, have plans to acquire thousands of apartment units in Colorado during the next two years. Both made their entrances into Colorado through acquisitions… Continue Reading Apartment investment firms descend on Springs market

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This week, 10 apartment buildings that will house 230 luxury living units began to emerge at the undeveloped corner of Woodmen Road and Union Boulevard. But, getting to this point has been a long — and expensive — road. Developer John McWilliams of Talos Holdings said the project, called the Peaks at Woodmen, took two… Continue Reading Developers break ground on the Peaks at Woodmen

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