The source I was going to suggest isn’t going to be particularly price competitive, so I will not waste his or your time. Yes, there is a lot of development in NE CS at this time, too much residential development IMHO. The roughly 15,000 troops from Fort Carson and Peterson Air Force Base that are stationed in Iraq, are starting to have a very negative effect on the CS housing market. Even though Fort Carson is at the south edge of town, it has a ripple effect upon the entire County. I don’t expect the troop deployment situation to improve for a year, maybe that will work well with your schedule. Again, just my opinion.
Who’s a builder-friendly lender - Posted by John Evans
Posted by John Evans on December 31, 2004 at 16:05:03:
Can anyone recommend a lender with a builder-friendly reputation that could finance development projects in Colorado Springs? Projects vary from town homes, duplexes, condominiums, and self-storage. Project requirements range from 5-12 million.
John Evans - email: evans7670@yahoo.com tel: 719-282-1195
Countrywide does not do construction financing. Unfortunatelly most posts on this board are by people that know very little, but answer questions anyway. I do know someone that could finance such a project in CS. But, me thinks that if you are an experienced builder capable of such a large project that you would already have such contacts. What have you built as a General Contractor in El Paso County, what name is your General Contractor’s Licence under, and how much of your own money/equity are you putting into the project? I personally don’t think it is a good time to be building houses in Colorado Springs.
Re: countrywide, wellsfargo n/t - Posted by John Evans
Posted by John Evans on January 02, 2005 at 11:48:58:
Clarification: I am not the builder or the developer. I am one of the working equity partners who has an opportunity to earn a fee if I can bring in a construction lender offering better terms/flexibility than previous lenders from the past. So if you have a good source I would appreciate the tip/introduction.
Previous projects include Castle Pines in Castle Rock, the Villas of Aspen Ridge in Aurora, and many many more. I can send you PDF files of the developers professional summary, the builder’s resume, and overviews of two current projects if you give me a better email address than “anon”.
Colorado Springs has very active housing/commercial development going on, particularly in the N/E area of town where our condos are being built.