512 & 516 Foothills Rd

512 & 516 Foothills Rd

Colorado springs, CO
Available
  • Property Type: Development/Land
  • Property Size: / 2.61 Acres

Overview

512 & 516 Foothills sits within the Ivywild neighborhood. The area has long been designated as a Neighborhood Strategy Area by the City of Colorado Springs.  Originally an elementary school built in 1916, Ivywild School was closed in 2009 by School District #11 and put up for sale.  The old Ivywild Elementary School has been renovated and has become a multi-use facility, housing several local businesses:  Bristol Brewery, a commercial bakery, espresso/cocktail bar, delicatessen and a private event and performance space are just some of the experiences that the school has to offer. The redevelopment of the school site was inspired by the idea of strengthening the neighborhood’s identity by restoring its historic centerpiece, the key element in the implementation of the Urban Renewal Plan.

Investment Highlights

  • Easy access to downtown Co Springs (5 min away).
  • Surrounded by neighborhood amenities: grocery, dining & retail.
  • Class A multifamily within sub-market achieving $2.70 PSF rents.
  • Limited new supply within 1 mile - 0 MF properties under construction, 1 MF property in planning.
  • Favorable high-density residential zoning in place (site can support 140+ units with 4-story product).

Contact Information

Travis Hodge Senior Advisor P: 404.259.8171
O: 800.746.3175 ext. 766
thodge@capstone-companies.com
Taylor Burns Investment Sales Advisor P: 303.842.4278
O:
tburns@capstone-companies.com
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