224 affordable apartments planned for Loveland

LOVELAND – Pedcor Investments LLC closed recently on the $1.9 million purchase of 17.6 acres within the Wintergreen Village neighborhood in Loveland where the Indiana-based development firm plans to build 224 affordable apartments.

Pedcor bought the land from The Snavely Group, an Ohio-based real estate development firm responsible for developing the Wintergreen Village area. The land sits west of U.S. Highway 287 on the north side of Loveland at 657 W. 64th St.

Jake Hallauer and Ryan Schaefer of Chrisland Commercial Real Estate Inc. represented the sellers in the transaction. Hallauer said he expects Pedcor to break ground on the Ashley Estates apartment community by the end of the month.

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“They’ll be under construction very soon, and they’re excited to get going,” Hallauer said.

Hallauer said only one parcel of land remains for sale in Wintergreen Village, a 9.7-acre spot located between a nearby Walmart and the land purchased by Pedcor.