Former CSU football stadium land has reportedly sold for $10 million.
From Hughes to homes; the site for the former CSU football stadium will be transformed into a new housing development, according to the university's Board of Governors.
Lennar, a corporation that builds homes as well as offers mortgage financing, acquired the 161-acre land for $10 million. However, the final price tag may be adjusted (up or down), and it's all dependent on the number of homesites that get approved for development by the City of Fort Collins.
It's estimated that 600-700 homes will be built. A variety of different housing types are planned for the property, including single-family, multi-family, townhomes, and condominiums.
The project is expected to take anywhere from three to five years.
"CSU was looking for an innovative developer that would be able to creatively transform the Hughes property in a way that allows our Board of Governors to discharge their fiduciary responsibility to the citizens of Colorado and truly serves our surrounding community. We’re excited to have reached an agreement for Lennar to make this a great addition to the community," said Tony Frank, president of CSU and chancellor of the CSU System, in a press release.
Hughes Stadium was demolished after the creation of the new on-campus facility, which was completed in 2017.
"Lennar is excited for the opportunity to work through the process with the neighborhood groups, City staff and the CSU constituents," said Dan Nickless, land president for Lennar Homes of Colorado. "It was an honor to be selected for this opportunity and we look forward to creating a community that will stand the test of time."
There will be opportunities in the near future for public input. While places and times for public forums and input haven't been set yet, it's definitely the next step in the process. CSU and Lennar are "keeping community issues of affordable and attainable housing and preserving open space as a part of the discussion of the development approval process," according to the news release.
Did you ever attend football games at Hughes Stadium? Also, how do you feel about the former football stadium land becoming a housing development? Let us know in the comments below.