Developer to build $22M, four-story 55+ home on former Garnsey and Wheeler site in Greeley

GREELEY and WINDSOR — The developers of a housing complex for adults 55 and older in Windsor are planning to build a smaller version on the former Garnsey and Wheeler car-dealer lot in downtown Greeley.

Brad Florin, CEO of L3 Development LLC, told BizWest the property on the corner of Eighth Avenue and 11th Street is planned to make way for a four-story apartment-style building with space for 85 residents dubbed “55 Resort.”

Florin said the company is trying to fill a housing gap for people who are close to retirement age and don’t want the responsibilities of maintaining a home, but don’t need the support of an independent-living or memory-care facility.

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He’s banking on the expected growth of that demographic as the Baby Boomer generation begins to enter retirement en masse, and retirees in particular who are relocating to the Front Range to be closer to their children or grandchildren or want a “lock-and-leave” living situation so they can travel regularly without worrying about upkeep of their property.

The 171,000-square-foot, three-story 55 Resort in Windsor has amenities reminiscent of an upscale college dormitory: open communal spaces, a theater room, multiple fitness rooms and a gaming parlor complete with a Star Wars-themed pinball machine.

Florin said the goal is to create a sense of community for the residents, as many are single women who outlived their spouses.

“This is all about socialization,” he said. “The college dorm experience is all about socialization, and that’s what we’re doing here, but for a different age demographic.”

Florin first began looking at the Garnsey and Wheeler land last spring, when he was introduced to employees at Richmark Real Estate Partners LLC and the company’s plans for a series of major redevelopments along downtown Greeley’s Eighth Avenue. While that will have fewer in-house amenities, Florin believes that property can attract tenants who want easy access to the restaurants and nightlife downtown.

Construction is expected to begin in Greeley next spring and open for residents in spring 2021.

Twenty units are currently occupied in the $29 million Windsor project, but Florin expects the property to fill up within the next year and a half as more of the U.S. population reaches retirement age.

The rents at the planned Greeley building will average $1,900 per month, with all utilities except for phone landlines included, compared with the $2,175 average price in the Windsor location.

Florin and his partners are also planning to build a 55+ Resort in Scottsdale, Arizona, in the near future.