Record High Price: Boulder Real Estate Land Deal

The never-used parking lot adjacent to 30th street on the northern edge of the new Twenty Ninth Street project just may have set a record sales price for Boulder real estate vacant land.

Plans are for a four-story apartment complex which should offer about 250 new rental units to Boulder.

With plans for the transit center still unfolding and the now complete Twenty Ninth Street center in place, this piece of Boulder real estate attracted some big attention.

Boulder County public records show that local developers Lou DellaCava and Darren Fisk purchased the 3.55 acre property from Twenty Ninth Street owner The Macerich Co. for $9,993,800. That’s about $2.8 million per acre.

It doesn’t seem that long ago that some local developers (was it Sam Burger?) couldn’t lease or sell the property he had in the project just north now occupied by Whole Foods and the now defunct theater. Well, that’s the word I heard but that was over 20 years ago after all… times change don’t they?

I’ve been hearing about stalls on the FasTracks projects and possible problems with finalizing the issues surrounding the Transit Village so I’m anxious to see what develops with those issues.

Not to worry, by the time all the planning gets through city approvals and the construction finishes, it’ll probably be a couple of years and comfortably into 2010 before anyone’s living there from what I hear.

The Twenty Ninth Street folks are, of course, delighted to think that this new project could drive foot traffic to the new shopping project. With The Peloton Boulder on the other side, it seems that prospects are good for Twenty Ninth. I’m most interested to see which retailers survive and how the retail market shift fleshes out over time as these projects like The Peloton and others complete and fill occupancy.


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