Blue Ocean Holdings acquires property east of The Foundry

LOVELAND — Blue Ocean Holdings in Fort Collins recently acquired land across the street from The Foundry in Loveland that it plans to redevelop.

Blue Ocean Holdings paid the John Ownby Exemption Trust $1.7 million for 300 and 312 N. Lincoln Ave. The two properties are east of The Foundry, a mixed-use project under construction that is a public-private partnership between the city of Loveland and Fort Collins-based developer Brinkman. The two lots are directly east of where the Foundry Theater is being constructed.

Phil Hodgkinson, general manager for Blue Ocean Real Estate Management, said plans for the two idle lots are “still up in the air. … We are exploring what the highest and best use would be.”

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The two lots, on approximately one-half acre, have vacant buildings that previously were used for office space and a mechanic’s shop.

Last year, Blue Ocean acquired two properties in Windsor near its Old Windsor Mill redevelopment project. Hodgkinson said Blue Ocean acquired property at 501 Main St. from the National Association for Gun Rights Inc. for $1.2 million. It  will be redeveloped for office. It is one block over from the mill project that is being redeveloped into a brewpub, cocktail bar and dining facility.

Hodgkinson said plans for 522 Main St. have not yet been determined. Blue Ocean paid $750,000 to Huskers LLC for the property that last housed brew pub Ricky B’s.  

Blue Ocean Holdings is a division of Blue Ocean Enterprises, created by entrepreneurs and philanthropists Curt and Nancy Richardson. Blue Ocean’s real estate division evolved from the Richardsons’ desire to positively influence communities and promote economic development. Blue Ocean’s investments include commercial and industrial properties, vacant land, and oil and gas.