$1B Mixed-Use Campus Moves Forward with Land Purchase
September 12, 2006
By Barbra Murray, Contributing Editor

Airpark Village L.L.C. has just wrapped up the acquisition of the 152-acre Community Airpark property in Fort Collins, Colo., thereby paving the way for the development of its Airpark Village project (pictured), a mixed-use campus that could consist of as much as five million square feet at a cost of about $1 billion to build.

The Community Airpark property consists of four parcels totaling 66 city blocks near downtown Fort Collins, which is about one hour outside of Denver. The land, now rezoned for the mixed-use endeavor, can accommodate commercial elements including residential, office, hotel, retail, labs, medical and industrial. One of the focal points of the campus will be research. "It is national research that we're going after," said developer Lloyd Goff of Airpark Village L.L.C. "We're marketing the project nationally to try to get companies to open up branches here for testing."

But Airpark Village is a project that is also designed to accommodate the needs of the citizens of Fort Collins. A retirement community is also planned as a main component of the campus. "There's a strong demand for residential and retail here," Goff added. "We're looking at types of land uses that are integrated vertically--where you can have condominiums on top of retail. We want to build a self-contained community."

There were no brokers on the transaction involving Airpark Village L.L.C.'s purchase of the Community Airpark property, which was sold by various owners including the Community Airpark Association. Goff said the next step for Airpark Village is the securing of developers, after which a master plan will be created. The entire project could take about 15 years to complete.