For investors, water’s the real deal

When Ed Orr began developing the Poudre River Ranch subdivision in northwest Greeley, he had to sell the land’s water before construction could begin.

The sale was necessary because the ditch water that served the property couldn’t be used within the homes, and the particular ditch system wasn’t connected to the Greeley water treatment plant.

“The mutual ditch water is worthless in a development because you are no longer using it to irrigate,´ said Orr, managing broker of Orr Land Co. in Greeley. “So, I was able to sell off those ditch shares to augmenters of water. They put a…