Melody Homes acquires lots at Rigden Farm

FORT COLLINS – Melody Homes has acquired 117 lots for single-family homes in the Rigden Farm subdivision in east Fort Collins.
Melody paid $3.25 million for the lots, which are part of a 310-acre mixed-use development just north of Fort Collins High School. The entire development calls for about 1,100 homes and a neighborhood shopping center, where King Soopers has agreed to build a new grocery store.
In addition to the 117 purchased lots, Melody has placed an option on another 115 lots.
An executive for Melody Homes called Rigden “one of the best in-fills in Fort Collins right now.”
“The Rigden project itself has sustained itself very well with the first filings,´ said Sandy Newberry, new projects manager for Melody Homes.
“With its proximity to the (Fort Collins) high school and its proximity to I-25, and the ability get to downtown Fort Collins along the Drake corridor, we feel this location is an absolutely fantastic and desirable place to live,” Newberry said.
Melody plans to have its first show homes ready for inspection this fall. Demand should generate at least six sales a month, which means the first 117 lots should be built out by early 2006.
Melody’s construction is part of a flurry of activity at Rigden this year.
The Pioneer charter school is under construction with plans to open this fall. Seven Oaks Academy has also started work on a new day care facility. And developers of the shopping center at the southeast corner of Drake and Timberline expect to break ground by the end of the year with King Soopers as an anchor tenant. FirstBank of Northern Colorado has also committed to build at the shopping center.
“2004 is going to be a strong year for Rigden,” Neal said. “Rigden’s going to finally start reaching its potential, we think.”
One of the remaining question marks about Rigden is the portion of land designated for affordable housing units. The developers have planned for about 165 homes on 35 acres, but haven’t been able to secure a builder or investor to execute the project.
“We’ve been under contract twice, but our buyers have not been able to get financed,” Neal said.

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