Keller Williams Realty - Loveland Colorado

The arts are alive and thriving in Loveland. Artspace Project Inc. recently revealed a sneak peak of their vision for the acre of land they are developing at Railroad Avenue and Third Street. The two-phased Artspace project has a total estimated cost of $10 to $20 million dollars. The first phase would entail construction of a four to five story building with 30 to 35 live-work spaces for artists and their families. Ranging from one to three bedrooms, each live-work space would contain a studio for the artist(s). Designated as affordable housing, their target residents would earn 60% or less of the region’s median income. The second phase of construction would be dedicated to development of a community arts center. For more information about Artspace Loveland visit their website at: www.artspaceloveland.org.

Not too far away from the Artspace project site, the under construction Rialto Theatre Center  now has stairways, concrete floors and walls are going up . Originally named the Rialto Bridge project, the new center will be comprised of the original Rialto Theatre with a bridge connecting to a brand new three-story building that houses a restaurant, theatre space, a community events and conference space and office suites. Click here for more information about the Rialto Theatre Center.

Source: Reporter-Herald, “Loveland Artspace project could have 30-plus residences in 2013″ by Tom Hacker, 11/10/2011.

Loveland residents have one more thing to be thankful for this holiday season: Builder Magazine ranked the Loveland-Fort Collins area as the #2  Healthiest Housing Market in the United States.

According to Moody’s projections used in the rankings, the number of households in the area is projected to grow by 2.7% next year, the largest percent growth for that category on the Top 20 list. Employment and median income are also projected to rise in 2012.

Loveland-Fort Collins Profile
(pulled from Builder Online)

• Health Index: 89.4
• 2010 Population Forecast: 299,630
• 2011 Total Building Permit Forecast: 1,004
• 2012 Total Building Permit Forecast: 1,650

Jobs, price appreciation, population growth and income growth were the primary metrics used in the rankings. The Loveland-Fort Collins area was joined by other Colorado cities in the Top 20 – including Colorado Springs (#7), Denver (#10) and Greeley (#20).

>> Read the complete “Healthiest Housing Markets: Mid-2011 Update” article.

Sources: Builder Online, “Healthiest Housing Markets: Mid-2011 Update” by Boyce Thompson, 9/15/11.

October 2011 Loveland Real Estate market statistics are in. Each month we track the following leading market indicators for Fort Collins, Colorado:

• Under Contract = Number of properties under contract
• Sold = Number of sold properties
• Months Supply of Inventory = The MSI is an estimate of how long it will take for all the homes in a market area to be sold, or absorbed, based on the number of homes currently on the market and the rate that homes have sold in the past. A market is considered balanced when the MSI falls between 5-7 months. Under 5 months is considered a seller’s market and over 7 months is considered a buyer’s market.

October 2011 ’09 ’10 ’11 % Change Between ’10-’11 Under Contract 93 126 129 2% Sold 128 126 127 1% Months Supply of Inventory 10.0 8.0 6.5 -19%	October 2011 ’09 ’10 ’11 % Change Between ’10-’11 Under Contract 20 15 13 -13% Sold 24 11 13 18% Months Supply of Inventory 4.7 8.1 5.8 -28%
September 2011 ’09 ’10 ’11 % Change Between ’09-’11 Under Contract 114 112 113 1% Sold 102 108 118 9% Months Supply of Inventory 8.4 9.5 7.8 -18%	September 2011 ’09 ’10 ’11 % Change Between ’09-’11 Under Contract 14 12 13 8% Sold 18 10 13 30% Months Supply of Inventory 7.3 10.8 6.1 -44%
August 2011 ’09 ’10 ’11 % Change Between ’10-’11 Under Contract 124 104 145 39% Sold 129 98 142 45% Months Supply of Inventory 8.1 10.7 6.3 -41%	August 2011 ’09 ’10 ’11 % Change Between ’10-’11 Under Contract 20 13 13 0% Sold 16 13 14 8% Months Supply of Inventory 5.2 9.8 5.9 -40%

The TechAmerica Foundation, a leading trade association for the tech sector, recently released their Cyberstates 2011 Report and Colorado ranked #3 for the highest concentration of high-tech jobs in the United States. In 2010, Colorado had 156,900 high-tech workers with a payroll of $14.2 billion, the 12th highest payroll.

With the ACE Technology & Manufacturing Park taking shape here in Loveland, the concentration of high-tech jobs is set to increase. At the Northern Colorado Economic Development Corporation (NCEDC) Annual Luncheon last week, keynote speakers Elaine Thorndike, CEO of the Colorado Association for Manufacturing and Technology (CAMT) and Diana Hoyt, Senior Policy Analyst for the Innovation Partnership Program at NASA, provided a detailed overview of the ACE project. The park is estimated to create 10,000 jobs and $8 billion in net economic output over five years. As alluded to at the luncheon, once up and running the park could give Silicon Valley some competition. Click here for the official CAMT webpage detailing the ACE park.

In 2010, the average tech worker in Colorado earned $90,800, which translates to 96% more than the average private-sector wage. These are important primary jobs that play a critical role in improving our economy on a state and national level.

Source: Denver Post, “Colorado’s concentration of high-tech jobs ranks third in nation” by Howard Pankratz, 10/5/2011.