LOVELAND – An undeveloped 117-acre parcel near the intersection of 42nd Street and South Lincoln Avenue faces foreclosure, according to an election and application notice filed with the Larimer County Public Trustee last month .
According to the notice, the owner of the property, Blue Sky Developments LLC, owes more than $ 8.6 million on a loan with an initial balance of $ 6.5 million. The ticket holder is Broadmark Realty Capital Inc. of Denver.
In 2019, site work began on a 120-home single-family development project called Hawks Ridge on the site. The status of this effort is unclear. Several brokerage signs have been placed on the property advertising residential and commercial land for sale.
Brokers and representatives for Broadmark and Blue Sky Development did not respond to requests for comment.
© 2021 BizWest Media LLC
LOVELAND – An undeveloped 117-acre parcel near the intersection of 42nd Street and South Lincoln Avenue faces foreclosure, according to an election and application notice filed with the Larimer County Public Trustee last month .
According to the notice, the owner of the property, Blue Sky Developments LLC, owes more than $ 8.6 million on a loan with an initial balance of $ 6.5 million. The ticket holder is Broadmark Realty Capital Inc. of Denver.
In 2019, site work began on a 120-home single-family development project called Hawks Ridge on the site. The status of this effort is unclear. Several brokerage signs have been placed on the property advertising residential and commercial land for sale.
Brokers and representatives for Broadmark and Blue Sky Development did not respond to requests for comment.
© 2021 BizWest Media LLC
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