Exhibit #3: 510 and 514 Wood St — Our first look at Fort Collins under the NEW Land Development Code
We would like to post a follow-up to the statement in the Coloradoan from the City of Fort Collins Planning Manager on how the intent of the new LDC wasn’t to “Add a bunch of density in neighborhoods.”
Just today, 514 Wood St in Old Town is being demolished, and the same owner has a demolition permit for its neighboring home at 510 Wood St. These properties were sold in May after being marketed as a ‘scrape and build multi-unit’ opportunity. They were purchased for more than $1 million, and while it isn’t clear what will replace them, it is clear the new construction will NOT be affordable.
We’ve previously posted about “scrape and build” under the new LDC as advertised for 335 E Magnolia. Even IF it is true that it wasn’t the City’s intent to ‘add a bunch of density to Old Town’ by developing luxury multiplexes, this is exactly what speculators and developers know the LDC will allow, and they are already moving forward with tearing down existing homes in existing neighborhoods and long-standing communities.
Please sign the petition to repeal the Land Development code, so that we can update our current code in a way that is consistent with the intent of the people of Fort Collins instead of Big Real Estate developers and speculators, and their special interest allies.
Real estate listing descriptions
Cute old town home remodeled in the late 2000's. South facing kitchen with lots of windows, 3 bedrooms and one bath. There is a one car det garage. Huge fenced back yard, mature trees. Move-in, remodel, or scrape and rebuild! 9,911 sq.ft lot zoned NCM! Per city code a single family is allowed (as-is or scrape and build) and two units with a city approved "Change of Use". Buyer to verify room dimensions. Property has been a rental/no Sellers Property Disclosure. Tenant occupied. Lease ends May 1st. Need 24 hour notice to show. Seller will review all offers Thur April 7. Buyers will need to agree to participate in a IRS Code 1031 Exchange. Great opportunity to own almost 10,000 sq.ft. in Old Town zoned NCM.
Charming 1920's bungalow on Wood Street! Features include: two bedrooms, one bathroom, a sunny living room, a separate dining room, newer flooring throughout, a large backyard with oversized shed / 1 car garage. Roof repair in 2018 and water heater was replaced in 2015. Opportunity exists to combine lots with next door neighbor that is currently for sale, NCM zoning, inquire with City of Fort Collins for zoning questions. Located just steps from Martinez Park, The Poudre River Trail and the Poudre River. Tenant occupied until 7/31/22, 24 hour notice required.
