Real Estate & Construction  September 12, 2011

Rooftops on the River puts views at the top

FORT COLLINS – Jon Prouty refers to the lifestyle offered by his Rooftops on the River project as “life on the edge.”

Prouty, a longtime area developer and president of Lagunitas Cos., said those who buy a townhouse or condo in the project will be living on the edge of downtown Fort Collins, on the edge of the Cache la Poudre River and on the cutting edge of environmental and urban hipness in their three-story-plus-roof terrace units.

The first phase of 24 units planned for the project were put on the market at the beginning of the year, and Prouty said buyer interest in the first few months has been gratifying.

SPONSORED CONTENT

Business Cares: March 2024

WomenGive, a program of United Way of Larimer County, was started in Larimer County in 2006 as an opportunity for women in our community to come together to help other women.

“We started selling in January, and so far we’ve closed on three out of seven units and have a contract on two more,” he said. “Given the market situation, we’re happy.”

The 1,300- to 1,500-square-foot units all have energy-efficient “green” features that include super insulation, high-efficiency heating and air conditioning systems, zero-carbon footprint heat pumps and maximum natural light.

Most units also have 260-square-foot private garages and 200-square-foot private rooftop terraces. Prouty said focus groups were consulted before the units were designed to make certain they would include the features most popular with potential buyers. The units vary slightly in price but run around $300,000.

But there are many other perks related to the project’s location. Just to the west is the expanded Northside Aztlan recreation center and immediately to the east is Bas Bleu Theatre. One block to the south is Old Town Fort Collins, and a public greenbelt lies between the project and the Poudre River to the north.

“I’d live here in a minute,” says Prouty without hesitation while showing the units.

Prouty said the project was met with open arms by the city and downtown development officials. “Old Town’s moving toward the river – that’s really what’s happening,” he said.

“The city provided a huge amount of support because it’s such a tight infill site,” he noted.

“They coordinated their Aztlan plan with us, which was exceedingly helpful. And the DDA (Downtown Development Authority) awarded us some funding for the façade of the mixed-use building.”

The mixed-use building is phase two of the project, located to the east of the current structure facing Willow Street. The building will include two commercial units below and six residential units above, with groundbreaking planned for Aug. 1.

The structure has received $261,000 from the DDA to help finance historic façade details and improvements in the public right-of-way, said Matt Robenalt, DDA executive director.

“The project is the first of its kind in the River District, and the DDA has long supported increasing residential properties in the downtown area,” he said.

Robenalt said the DDA has been providing incentive funding for residential projects for several years and continues to offer money. However, the amount is decreasing because more and more projects are being developed; Rooftops on the River is the latest.

“We’re still accepting proposals from developers, but now that it’s established it won’t necessarily be at the same level,” he said. “It’s definitely established a foothold in the downtown area.”

Prouty said the target demographic for Rooftops is “mixed.” “It’s young professionals, for sure, but also includes empty nesters, retirees and people who just want an urban lifestyle,” he said.

The project was built by Dohn Construction and is being marketed by Jim Hauan with The Group Inc. and Gary Rogers with Keller Williams.

FORT COLLINS – Jon Prouty refers to the lifestyle offered by his Rooftops on the River project as “life on the edge.”

Prouty, a longtime area developer and president of Lagunitas Cos., said those who buy a townhouse or condo in the project will be living on the edge of downtown Fort Collins, on the edge of the Cache la Poudre River and on the cutting edge of environmental and urban hipness in their three-story-plus-roof terrace units.

The first phase of 24 units planned for the project were put on the market at the beginning of the year, and Prouty said buyer…

Sign up for BizWest Daily Alerts