We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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The Brinkman Partners project — at the northwest corner of Maple and Mason Streets in Fort Collins — was initially expected to be complete and ready for residents to move in beginning in April, but an October blaze demolished what progress had been made.
The expected completion time is now Sept. 1, according to Kevin Brinkman, principal at Brinkman Partners.
“We have no more issues, and we’re moving full steam ahead, trying to get back to business as usual,” Brinkman said.
Currently, crews are working on cleaning up the site and preparing it once more for construction.
The company has received a check for the damage, according to Brinkman, but he could not disclose the amount, or any details about the insurance proceedings.
Once complete, the four-story building will contain 30 units designed for those who want to live and work in Old Town. The units will include a balcony in each unit, brick, stone and metal work, and underground parking.
The underground parking structure was completed as part of the first phase of the project in 2009. Brinkman purchased the parcel from the previous developer on the project, Coburn Development.
That 141-unit project stalled as the Fort Collins market entered the economic downturn.
In January 2011, Brinkman Partners acquired the property for just over $615,000 and received approval from the city to construct the 8,300-square-foot building.
Rental applications have been submitted for Penny Flats, Brinkman said, but so far no leases had been signed.
A Fort Collins man, Benjamin David Gilmore, has been charged with attempted murder and arson in connection with the fire, which also damaged an occupied multi-family structure next to Penny Flats.
Gilmore’s case is making its way through the court.
Fort Collins earns place on Zillow top 10 list
Online real estate brokerage site Zillow listed Fort Collins as one of the country’s best markets for year-over-year median home-value increases from October 2010 to October 2011.
Fort Collins ranked No. 6 out of 10 with a median home value of $217,300, a year-over-year increase of 1.3 percent.
Zillow’s report noted that all 10 of the metro areas that made the list are “off the beaten path,” and that none of the top 20 U.S. metro areas by population size made the top 10.
No. 1? Tulsa, Okla., with a median home value of $101,000, with a year-over-year increase of 6.2 percent.
ABC Rocky Mountain Chapter announces board members
The Associated Builders and Contractors Rocky Mountain Chapter has announced new board members at its annual board installation dinner.
New board members sworn in include:
- Bryon White, Milender White Construction Co., chair-elect
- Jeff Erker, FCI Constructors Inc., Treasurer
- Scott Oglesby, Bauerle & Co., P.C., Secretary
- Jeff Champagne, The Skilled Trades Co., past chair
- Dale Heter, Mortenson Construction, director
- Brandon Berumen, LEI Cos. Inc., director
- Ernie Crownover, TCC Corp., director
- Sean Chenoweth, Sunstate Equipment Co., director
- Steve Donnelly, RK Mechanical Inc., director
- David Hite, Flood and Peterson Insurance, director
- Doug Grogan, Shaw Construction, director
- Mark Medlyn, Hensel Phelps Construction Co., director
- Steve Foote, Greiner Electric Co., director
- Bob Yelinski, Spacecon Specialty Contractors, director.
- Four board members completed their terms this year. They include:
- Nick Miller, LPR Construction Co.
- Kim Uhrig, Greiner Electric Co.
- Angie Rubeck, MTech Mechanical Technologies Group
- Paul O’Donnell, Hensel Phelps Construction Co.