Developers pay $1.7M for Copper Peak Apartments land in Longmont

LONGMONT — Spokane, Wash.-based development firm Inland Group closed recently on the $1.7 million purchase of a 38-acre site on the north edge of Longmont, where it will build the Copper Peak Apartments.

Copper Peak purchased the property at 2704 Main St., from Wal-Mart Stores Inc. The parcel is at the northeast corner of U.S. Highway 287 and Park Ridge Ave., just north of the Super Walmart at the corner of 287 and Colorado Highway 66.

An official for Inland Group could not be reached Tuesday.

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Inland gained city approval for Copper Peak earlier this year, with plans to build a 240-unit affordable apartment complex. The project includes 10 three-story buildings, 494 parking spaces, a pocket park, clubhouse and pool. Apartments will range from one- to three-bedroom units rentable to tenants making less than 60 percent of area median income for Boulder County.

In August, developers gained approval to subdivide the property into four separate parcels: an 18-acre piece on the west side for which no plans have been filed, a 12-acre piece on the east side where Copper Peak will be located, a four-acre parcel in the center for an RTD park-and-ride site, and a drainage detention outlot in the southeast corner of the site. Developers still must complete a public improvement agreement with Longmont’s public works department before applying for permits to begin construction.