Superior buys land near water facility from developer in bargain sale

SUPERIOR — Superior recently entered into an agreement with local development firm Vested Holdings LLC to purchase a nearly 6-acre plot of vacant land near the town’s water treatment facility west of McCaslin Boulevard.

The town — through Superior Metropolitan District No. 1, which provides water, sewer and storm drainage services — paid $700,000 for the parcel, which was valued at $1.5 million. The transaction, known as a bargain sale, allowed Vested Holdings and its managing member Larry Abrams to convey the property for less than its fair market value.

“The town has identified the property as a strategic acquisition … due to the property being adjacent to key and essential town infrastructure and resources,” according to Superior town documents.

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The purchase allows Superior to preserve one of the few remaining large, undeveloped parcels in the portion of town near the Ridge subdivision and Terminal Reservoir.

We are pleased to have played a part to help the town acquire this parcel and to preserve the incredible views on its mesa,” Abrams said in a prepared statement. “The neighbors at the Ridge at Superior Townhomes will be most pleased of all — their view corridor is permanently protected. The Superior Metropolitan District gets a key piece of property, views will be preserved for town residents and we are able to enjoy making a generous contribution. Everyone wins.”