Prior to groundbreaking
The Summit on College
Developer: Capstone Companies
URA Participation: $5 million
Total Project Cost $44 million
Completion Date: Fall 2013
The Summit on College will fill an important construction niche--student housing, just blocks from Colorado State University. As CSU increases student enrollment, the need for affordable, student-oriented housing increases. The Summit on College will include 676 beds and 8,000 sq. ft. of street level retail.
Capstone Companies comes to Fort Collins from Alabama, where they have a track record of building high quality and energy efficient high-density residential projects.
The location of the Summit on College is quite extraordinary. Tucked east of the Mason Corridor, just south of Prospect and west of College, the location has many construction challenges. In 1997 the community suffered a catastrophic flood in the same location with loss of life and structures.
With the new development, Capstone is turning its attention to lot improvements, modern stormwater systems and a new chapter in the neighborhood's life. The Fort Collins URA is contributing funds to remove the site from the flood way and bring the site's infrastructure up to today's standards. The buildings will be sustainable and energy efficient, and will be built according to the U.S. Green Building Council's LEED certification program.
Construction is occuring now, and will wrap up in the fall of 2013. Just in time for the MAX Bus Rapid Transit to come on line (May 2014) and for other exciting redevelopment projects to ramp up in the new Midtown Urban Renewal Area. This is the first URA project in the South Prospect Tax Increment Finance District.
Fort Collins City Council Agenda Item Summary for the Commons
Capstone Companies' URA Application
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