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Page 20 - January 3-16, 2018
Larimer & Weld Counties
Fort Collins 970-229-9900
Loveland 970-593-9900
Greeley 970-346-9900
LAND • RETAIL • INDUSTRIAL • MULTIFAMILY
OFFICE • INVESTMENT •
365 Real Property Management
Brass Key Property Management
Evergreen Property Management
Greeley Community Management
Investors Properties, LLC
McWhinney Real Estate Services, Inc.
Mountain-n-Plains, Inc.
RJK Consulting Services LLC
Trademark Property Mgmt Group, Inc
Vintage Corporation
We look forward to working with these
companies, and others in the future!
TO THE EXCELLENT PROPERTY
MANAGEMENT COMPANIES THAT
WE WORKED WITH IN 2017
THANK YOU
by Jill Jamieson-Nichols
Housing Catalyst is undertak-
ing a major rehabilitation of three
affordable housing communi-
ties that comprise the Village on
Shields in Fort Collins.
Inall, 22buildingswith285units
will receive an extensive make-
over, and a long-shuttered com-
munity building will be brought
back to life as part of the multimil-
lion-dollar project.
The renovations are being
funded in part by an $18.2 mil-
lion Freddie Mac tax exempt loan
provided by New York-based
Hunt Mortgage Group. Support
also was provided by RBC Capi-
tal Markets, JPMorgan Chase,
the U.S. Department of Housing
and Urban Development, city of
Fort Collins, Colorado Division of
Housing, Villages Ltd. and Hous-
ing Catalyst, formerly Fort Collins
HousingAuthority.
The three communities that
comprise the Village on Shields –
the Windmill, Cunningham and
Richmond – were built through
the Low Income Housing Tax
Credit programbetween 1991 and
1995 and were purchased in 2013.
They are affordable to residents
who make up to 60 percent of
area median income, according to
Kim Iwanski, Housing Catalyst
manager of communications and
organizational excellence.
The properties at 3425 Windmill
Drive, 1025 Cunningham Drive
by Jill Jamieson-Nichols
A company that develops self-
storage facilities in Colorado and
Texas is continuing a push into the
Northern Colorado market.
Grow Your Storage Develop-
ment LLC recently opened the
541-unit Timberline Self Storage
and is starting construction of
South College Self Storage, with
708 units, both in Fort Collins. The
company also is in the entitlement
process for the 446-unit first phase
of a self-storage facility inWindsor.
“We like the markets of North-
feel there’s some
opportunity for Class A facilities,
and they’re growing markets with
high barriers to entry,” said Bran-
don Grebe, who operates GYS
Development with Lee Fredrick.
Grebe said growth in the mar-
ket has created pent-up demand,
particularly for new facilities that
include climate-controlled units.
“The industry is in a growth
cycle similar to almost all other
real estate industries right now,”
said Grebe, whose company also
is development properties inColo-
rado Springs and Fountain.
The recently opened Timber-
line Self Storage is located at 2120
Midpoint Drive, at the southeast
corner of Timberline and Prospect
roads.
GYS Development now is start-
ing construction of South College
Self Storage, a three-story, 107,000-
sf property at 6020 S. College Ave.
in Fort Collins that will open in
the second quarter. It purchased
13 acres at the intersectionof South
College and East Skyway Drive,
retaining 3.3 acres for the facility
and offering the remainder of the
property for sale.
GYS hopes to break ground on
the first phase of EastWindsor Self
Storage in the Falcon Point Busi-
ness Park, at the southeast corner
of Highways 392 and 25 in Wind-
sor, early this year. The first phase
will comprise 62,000 sf and also
is scheduled for delivery in the
second quarter. An additional 275
units could be added in the future.
Grebe said GYS develop-
ment caters each project to the
local market, however, all of its
developments include a mix of
climate-controlled and drive-up
units, access control and online
renting capabilities. All also have
on-site management, “so we take
apersonal approach to it,” he com-
mented.
GYS Development partnered
with All Pro Capital, which
secures debt and equity, on all
three projects.
GYS Development specializes
in developing, building and man-
aging self-storage facilities in the
Western United States, including
Texas, Colorado and Arizona. In
Colorado, it developed the Cen-
terra Self Storage in Loveland, and
also has properties in Denver and
Colorado Springs.▲
Grow Your Storage Development LLC, which recently opened 541 self-
storage units in Fort Collins, above, is developing 708 units on South
College Avenue and plans another project in Windsor.
New siding and windows are part of an extensive renovation of three
affordable housing communities that comprise the Village on Shields in
Fort Collins.