Group buying land in Superior for homes

SUPERIOR – Boulder developer Jim Chanin announced Friday that Second Avenue Superior Properties LLC plans to close Monday on a deal to purchase a 12.9-acre piece of land in Superior for $1.1 million from the estate of the late Charlene Flo Rogers.

The plan for the property is a residential development, the makeup and timeline of which are still up in the air.

Second Avenue Superior Properties is the entity formed by Chanin and an undisclosed California-based capital group for the purpose of purchasing and developing the parcel, which includes a one-story farmhouse and outbuildings. Chanin, of Chanin Development, will serve as acting manager and developer for the project.

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“I think that we see a rising tide in the market,” Chanin said. “We like the basic dynamics of the submarket in Superior and its proximity to Denver. Superior Town Center is going to bring a lot of vitality to the area as well.”

The land, at 300 Second Ave., sits just west of McCaslin Boulevard, across from the Superior Town Center development, which received approval from the Superior Trustees this summer.

Chanin said the land is zoned for medium-density residential. A flood plain that runs through the property will impact the amount of buildable acreage, and Chanin said he’s waiting to also see what might mesh well densitywise with what is planned at Superior Town Center.

“It’s going to be a while before we know really what can go there,” Chanin said.