Capstone buys land for student-housing project in Fort Collins

FORT COLLINS — Capstone Collegiate Communities LLC has closed on the $2.1 million purchase of approximately 30 acres of land in northeast Fort Collins, where it has plans to build housing for students.

Birmingham. Ala.-based Capstone paid $1.4 million for three parcels totaling 14 acres along Lincoln Avenue from three sellers: Fort Collins Business Center One, Fort Collins Business Center Two and Nancy Keil in one deal, and paid $1.8 million for another 16 acres, purchasing the property from North Valley Bank, which had owned the land for some time.  Both deals closed Dec. 23.

Capstone has submitted plans to build 201…