$10 million project planned for Sidney
A team of investor/developers were introduced to the community of Sidney on Friday to announce their intention to build a $10 million market rate apartment complex development that will include over 100 units in the first phase of development of one, two and three bedroom units.
The development team closely followed the apartment housing shortages that have been identified by Sidney's City, Chamber and Business leaders over the past several months, and the acute shortage that was further identified in the 2012 Sidney Comprehensive Plan.
The developer investors are Jeff Jensen, Vice-President of Design and Construction for McWinney Real Estate and Development of Loveland, CO; Troy Peterson of Flagstone Partners Real Estate Investment and Development of Loveland and Charles J. Cuypers of Fort Collins. Cuypers is a partner in the Wolfe, Van Ackern and Cuypers LLP law firm in Fort Collins.
All have extensive business experience with development projects along the front range of Colorado.
The$10 million project for the first phase of the development is the largest private sector driven market rate apartment development in the history of Sidney. If the rental demand is there, additional phases will follow. Apartment sizes are projected between 700 and 1,300 square feet.
The Development concept includes a clubhouse, garages, dog park, waterfall, putting greens, community garden plots, business center, conference room, fitness work out area and game room for residents.
The project does have several procedural steps to be accomplished to accommodate the development and those will be laid out in upcoming Sidney city council meetings.
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