Colorado State University graduate and real estate expert Travis Ackerman posts his latest outlook for the land market in northern Colorado.
From a burgeoning economy and strong demand for land to new master-planned communities and increasing taxes, Cushman & Wakefield Commercial Real Estate director and top local property broker Travis Ackerman offers a closer look at the North Colorado land market and posts an overview for the sector based on this year’s figures to date.
“Demand for land in the North Colorado market remains strong despite sales activity trailing the first halves of the prior two years in terms of the number of transactions,” suggests Ackerman, a top local real estate broker and Colorado native based in Fort Collins.
The Colorado economy, he says, continues to be regarded among the best in the nation. “As a result, the northern Colorado land market will continue to benefit moving forward,” adds the expert.
As affordability issues continue to drive residential and commercial development further north along Interstate 25, the market will carry on benefiting, according to Ackerman. “This,” he says, “will, in turn, lead to more master-planned communities coming online.”
One in particular which is especially worth noting, Ackerman believes, is RainDance in Windsor. This 1,500-acre master-planned development will, he explains, largely focus on the heritage of the local community, with more than 500 acres dedicated to parkland and recreational activities. “Of the 500 acres dedicated to parks and recreation, over 100 acres will be assigned as agricultural space for community use,” adds Ackerman.
Approximately 2,800 residences will be made available at RainDance, priced from $200,000 to more than $1 million according to the Cushman & Wakefield Commercial Real Estate director.
A second master-planned development of note, says Ackerman, is Heron Lakes. “Heron Lakes continues to see strong pre-sale activity, affirming the demand for luxury housing in North Colorado,” he suggests.
Headwinds have arisen in the region, however, as increases in taxes have begun to limit and even prohibit growth and development in some areas of the northern Colorado market, Ackerman claims. “Increasing water prices are also putting pressure on land values,” he adds, wrapping up, “and even dictating where future development can or cannot potentially occur.”
Travis Ackerman is a director for Cushman & Wakefield Commercial Real Estate specializing in the sale and lease of land and industrial, retail, and office space in North Colorado. Since 2007, Colorado State University graduate Ackerman has been involved in a total of more than 500 transactions worth in excess of $350 million. Known in the North Colorado real estate community for his integrity and work ethic, realtor and Colorado native Travis Ackerman is now recognized as one of the top commercial brokers in the region.