FORT COLLINS — Blue Ocean Enterprises Inc. has submitted plans for a mixed-use neighborhood on 19.6 acres of vacant land south of the Colorado State University campus in Fort Collins.
The development could consist of 350 apartments in nine buildings ranging between two and four stories, 35 townhomes and 20,000 square feet of commercial space, according to a preliminary design review application submitted to the city’s planning department.
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Project representatives are scheduled to meet with city planners Wednesday, April 13, to go over preliminary designs and utilities requirements.
The vacant land is south of West Prospect Road at the northeast corner of Shields and Stuart streets, and the Spring Creek trail system runs through the property.
It is owned by North Spring Creek Properties Inc., an entity of Fort Collins-based Blue Ocean Enterprises. It paid $3.3 million in 2011 for the seven parcels that make up the property, according to public records.
Steve Schroyer, Blue Ocean’s director of real estate, said the company has been meeting with groups in the neighborhood to determine what would be compatible, but doesn’t have a specific time table in mind to begin construction.
“We are in no hurry because of the high cost of construction right now, but we wanted to get the ball rolling with the design,” Schroyer said.
Schroyer said the apartments will be market rate and geared toward the general public, not necessarily college students, despite its proximity to the CSU campus.
He said it’s still up in the air whether the townhomes will be rented or sold.