Boulder County
Property Location: N/S Chrisman Drive, approx. 400 feet west of North 107th Avenue (550 Chrisman Drive), Longmont, “proposed Chrisman Apartments”
Property Description: Vacant land, plan to build 114-unit, three-story apartment
Land Size: 3.85 acres
Sales Price: $2.5M, or $14.91 per sf, or $21,930 per buildable unit
Reception No.: 03526167
Closing Date: 6/21
Grantor: The Terrace Apartments LLC, Joseph B. Bowers, mgr., Boulder 80303
Grantee: Crisman Apartments LLC, dba Solvera, Lisa Mullins, mgr., 303-554-0500
Financing: $3.7M, due 7-1-51, payable to the state of Colorado Division of Housing
Comments: See APN: 1205-272-16-001. The project is expected to be completed by June 2017. Once the property is constructed and occupied, the project will be turnkeyed to the Longmont Housing Authority for permanent ownership and management. The buyer applied and received approval for Private Activity Bond Cap, 4% Low Income Housing Tax Credits. A family of four that earns no more than $59,640 per year is eligible to occupy an apartment unit.
Comp of the Day is provided by John V. Winslow, president of WinComps LLC. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.
