Properties are selling, and construction keeps on going in the northwest area
Activity is heating up in the northwest area, with finished road projects, ongoing commercial construction projects and increasing sales of both residential and commercial properties.
“The diverging diamond has been working just fine,” said Trent Prall, engineering manager for the city of Grand Junction about the new intersection at Interstate 70 exit 26. “Once the truck stops are up and running, people will really see the benefits of the intersection.”
According to Prall, the diverging diamond solves the traffic problems that plagued that particular intersection and the Colorado Department of Transportation’s (CDOT) participation in the project helped to ensure that the intersection will be able to handle projected traffic flows for the next 20 years, at a considerable cost savings in comparison to other types of interchanges.
The Love’s Truck Stop should be opening its doors for business by early July, while the Pilot will be sometime later this year. In paperwork submitted to the city planning department, both truck stops estimated they would generate the equivalent of 40 full-time jobs.
A local investor recently purchased a large commercial building at 2350 G Road, which had been for sale for longer than a year, with plans for a complete exterior remodel.
“It’s a great location, with a lot of square footage,” said Ray Rickard, the buyer’s agent for the property.
The new owner hopes the building’s tenants will remain in place and also hopes to attract medical professionals to the site, since it’s about half a mile from the Canyon View Medical Plaza.
Community Hospital, which still plans to build a new building on G Road near the medical plaza, is currently in a fundraising mode for the facility and hasn’t made any groundbreaking plans at this point in time.
Fed Ex Ground recently closed on an 13-acre parcel of land at the corner of 23 and G Road, but is not ready to comment on its plans for the site. Currently, Fed Ex Ground operates out of a small facility on 1.7 acres near Riverside Parkway.
On 24 1/2 Road, construction has finally begun on the Grand Valley Transit (GVT) station at F 1/4 Road and 24 1/2 Road. The process took longer than anticipated due to funding issues with CDOT, which contributed $800,000 toward the station. An intergovernmental agreement between Mesa County, the city of Grand Junction, the city of Fruita and the town of Palisade also contributed $200,000 to the project and federal funds contributed more than $1.2 million to the project.
When completely finished, the station will include a 100-space park and ride, pullouts for the buses and a building with restrooms, a GVT office and a waiting area. Construction should take about 6 1/2 months, and Todd Hollenbeck, manager with Mesa County Regional Transportation Planning Office, hopes the facility will be in use by December, 2014.
Across the street, Curt Rahm is going through the approval process with the city of Grand Junction to build a 16,000-square foot office building. Rahm already has enough tenants lined up to fill the building, which will be similar to the Canyon View Office Building, 627 24 1/2 Road. He hopes to break ground on the building by July.
Residential real estate in the northwest area is also on the move, even though the majority of the homes in the northwest area are north of of I-70, sitting on small parcels. Because they sit on two or more acres, they come with a larger price tag.
“We had a tough time selling properties above $500,000 for several years, but this spring, they’re selling,” said Grace Varley with RE/MAX 4000. “We don’t have enough homes in the northwest and north area in the $500,000 to $700,000-dollar range.”
The demand for higher dollar homes has taken many Realtors by surprise, although it’s been a welcome one.
Homeowners who built or bought between 2006 and 2008 may be reluctant to put their home on the market because today’s prices may be less than what they paid for their homes. Yes, buyers are out there looking for properties in the northwest area, but those buyers aren’t in a hurry to pay 2007 prices on homes just yet.