Loveland property facing foreclosure

LOVELAND — A 117-acre undeveloped parcel near the intersection of 42nd Street and South Lincoln Avenue faces foreclosure, according to a notice of election and demand filed last month with the Larimer County Public Trustee.

According to the notice, the owner of the property, Blue Sky Developments LLC, owes more than $8.6 million on a loan that had an original balance of $6.5 million. The holder of the note is Denver-based Broadmark Realty Capital Inc.

In 2019, site work began on a project to develop a 120-home single-family subdivision called Hawks Ridge at the site. The status of that effort is unclear.…