Real Estate & Construction  January 10, 2024

Greeley’s 55 Resort drops age restriction, rebrands

GREELEY – The increasing attractiveness of downtown Greeley to a younger demographic has led owners of a new senior-targeted apartment building to rethink their mission and act accordingly.

55 Resort, which opened about a year ago with 84 one- and two-bedroom rental units at 1100 Eighth Ave., removed its age restriction and rebranded on Jan. 1 as City Center Apartments – with slightly lowered rents.

“We’ve had a lot of demand from younger folks, people who work downtown, professionals who enjoy the downtown scene, who wanted to move into that building, so we’re listening to that market,” said Brad Florin, CEO of Fort Collins-based 55 Resort Management Corp. “People come to Austin’s [American Grill] on our ground floor and see this apartment building and say ‘I’d love to live this close to downtown.’ 

“The activation of downtown and all the things the [Downtown Development Authority] has done has appealed to a younger crowd,” he said.

The original plan was to restrict the rentals to people aged 55 and older, as his company has done with its other area property, 55 Resort at Water Valley in Windsor. It also submitted plans last June to Loveland city planners for a 55 Resort at Centerra, which would be located next to Railway Flats.

“We noticed less demand for the 55-plus housing and more for younger people,” Florin said. “When I go to Friday Fest or WeldWerks, I’m not seeing a 55-plus crowd there.”

The change in demographic targets has meant somewhat lowered rents, Florin said, because, unlike with senior housing, there wasn’t a need for an activities coordinator or a concierge, so those paid positions were eliminated.

“Professionals are out doing their thing,” Florin said, “not hanging around the property and needing someone to show them how to play bingo.”

Rents at City Center Apartments range from $1,750 to $2,750 a month, he said. Each pet-friendly unit has extra soundproofing, upgraded appliances, a deck or patio and a full-size residential washer and dryer. 

“For Greeley,” Florin said, “these are definitely luxury apartments.”

The building has a seasonal saltwater pool and year-round spa, a fitness center, pet-relief area, rooftop deck with a firepit, community gathering room, fireplace and business center.

GREELEY – The increasing attractiveness of downtown Greeley to a younger demographic has led owners of a new senior-targeted apartment building to rethink their mission and act accordingly.

55 Resort, which opened about a year ago with 84 one- and two-bedroom rental units at 1100 Eighth Ave., removed its age restriction and rebranded on Jan. 1 as City Center Apartments – with slightly lowered rents.

“We’ve had a lot of demand from younger folks, people who work downtown, professionals who enjoy the downtown scene, who wanted to move into that building, so we’re listening to that market,” said…

Dallas Heltzell
With BizWest since 2012 and in Colorado since 1979, Dallas worked at the Longmont Times-Call, Colorado Springs Gazette, Denver Post and Public News Service. A Missouri native and Mizzou School of Journalism grad, Dallas started as a sports writer and outdoor columnist at the St. Charles (Mo.) Banner-News, then went to the St. Louis Post-Dispatch before fleeing the heat and humidity for the Rockies. He especially loves covering our mountain communities.
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