Hang on to your hats; residential real estate could have another explosive year here in the Grand Valley in 2021. There are dozens of subdivisions in various planning stages, including existing ones that are planning additional filings, as well as other new ones that will create thousands of building lots.
“Somewhere in the planning pipeline, we have bout 5,000 units - more than we’ll build in any one year,” said Dave Thornton, senior planner for the city of Grand Junction. Those 5,000 units include the large Redlands 360 development, which will most likely take 20 years to build out and will include between 1,300 to 1,800 lots.
While prospective buyers probably won’t see infrastructure or homes available at Redlands 360 in 2021, there are plenty of other subdivisions that will offer a greater variety of new housing in the coming year.
“There are quite a few townhome projects in the pipeline this year,” said Kevin Bray with Bray Real Estate, which publishes the monthly Bray Report and tracks other real estate trends in the Grand Valley. Bray is also developing Thunder Valley, which is a single family home subdivision in the northeast that’s opening up another filing, and is hoping to develop a new type of housing option at Frog Pond, a small subdivision of small homes off Monument Road in the Redlands sometime in 2021.
Copper Creek Builders is continuing to build apartments at Copper Creek Village, and plans to also build townhomes adjacent to the apartment complex. Ray Rickard is working with the city on a small, in-fill lot near Bookcliff Country Club where he hopes to build 17 lock-and-leave townhomes. The lot had an old, badly-in-need-of repairs home on it, which was demolished in December. Rickard is also planning to build condos on a piece of property near Las Colonias.
Some townhome and condo developments offer a lower price point than traditional single family homes, while others offer an upscale, less-maintenance home that may appeal to second home buyers or those who like to travel. Buyers who want the traditional single-family home on a small to medium-sized lot will also have several new subdivisions in every part of the Grand Valley, from Fruita to Palisade.
Emerald Ridge is one of the largest new subdivisions coming to the market in 2021; when completely built out, the subdivision will have almost 200 homes. The first filing is 98 lots, but developer Janet Elliott hopes to sell about 30 homes in the north area subdivision in 2021.
“We have six builders who will build in the subdivision,” Elliott said, adding that homes must be at least 1,800 square feet, with a three-car garage. Most will be ranch-style, but a few will be two-story.
Elliott hopes to have the design center at the subdivision complete and ready for consultations with prospective buyers by mid-January.
Another almost 200-unit housing project in the north area has just started the planning process on 24 1/2 Road, just south of G Road, where Valley Grown Nursery operated for decades. That subdivision, Founder’s Colony, will offer single family homes, townhomes and apartments, when it is completely built out.
In addition to residential subdivisions, commercial real estate projects are also looking positive for 2021, with some long-term projects coming to fruition and others just beginning the long road to completion.
A long-vacant building at 2515 Patterson, which once was home to the Grand Junction Athletic Club, has been undergoing a complete remodel and transformation to become a new type of medical office building, where the focus will be on wellness.
“We are still planning on being open in April,” said Renee Williams, who has been tireless in her vision to create Foresight Wellness. Two of the partner practices, Colorado West Otolaryngology and ReGenesis Plastic Surgery and Dermatology, hope to move into the building in April. Williams hopes to add a wellness clinic that focuses on helping patients reduce inflammation throughout the body sometime after the soft opening in April. She also hopes to be able to host a grand opening that will allow the curious to see the building’s transformation sometime in 2021, when it is safe to host large gatherings once again.
Commercial buyers are still interested in Dos Rios, the public/private project on the west side of the Fifth Street bridge along the Colorado River, as well as a large chunk of land that has been for sale for decades near Community Hospital. More information about plans and projects will be in Real Estate Weekly when the deals are finalized.
The city plans to continue building infrastructure at Dos Rios, with the completion of the bathroom, parking, paving, landscaping, park spaces and spaces for commercial, residential and retail use. At Blue Heron, the city is looking to reconstruct the Blue Heron boat ramp to provide one area for kayaks and SUPs and a different ramp for boats with trailers.
The city is also planning to build two fire stations in 2021. One will be a replacement for Fire Station 3 near Pomona Elementary School on 25 Road, and the other, Fire Station 8, will be a brand new station at 31 and D 1/2 Road. The sales tax that was passed by voters in 2019 is funding both projects.
Many of the projects already underway in 2021 represent in-fill projects and developments on land that has been under-utilized for years within existing urban boundaries, which was one of the priorities that came out of the recent city survey.