Fort Collins URA contracts to buy former Albertson’s property

FORT COLLINS — The Fort Collins Urban Renewal Authority has approved a contract authorizing it to buy a vacant property on the city’s north side that had housed an Albertson’s grocery store.

The property at 1636 N. College Ave. has been vacant since Albertson’s closed there in 2014. The 50,097-square-foot building is situated on 4.68 acres and was built in 1996.

The FCURA’s vote Monday night does not require it to purchase the property, which carries a list price of around $7.64 million, but is a step in its quest to spur improvements in the area.

“The FCURA board remains committed to blight remediation and making meaningful investments in the North College neighborhood. This planned acquisition marks a major milestone to that end,” Fort Collins mayor Jeni Arndt, who chairs the FCURA, said in a prepared statement. “We are excited to work with the neighborhood and community stakeholders to reimagine this property as a vibrant focal point for North College.”

The property was acquired in 2021 by Vereit Real Estate, part of Denver-based Realty Income Group, a real-estate investment trust.

Officials envision the property as a possible site of affordable housing, a community hub, a workforce development center or a library.

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