California Investor Buys former StorageTek/ConocoPhillips Campus in Bid for Amazon

In a bid to have Amazon select Boulder County as its much-ballyhooed second headquarters, California’s Bancroft Capital recently went under contract to purchase the 432-acre property (depicted below) in Louisville that is the former home of StorageTek.  The property is currently owned by ConocoPhillips. Bancroft also developed the Peloton project in Boulder.

Google Buys Property

As it nears completion on the first phase of its new 4-acre campus at 30th and Pearl in Boulder, Google has purchased land and two buildings at its campus for just under $131 million. Google originally intended to lease the buildings.  “The acquisitions make sense fiscally, but also demonstrate our commitment to Boulder,” said Scott Green, the Boulder site lead for Google.  “In our 11 years operating here, Google has come to value the community, its talent base and its quality of life.”

County Adds Senior Housing at Record Rate, Creating Concerns for Some Areas

By 2030, baby boomers are forecasted to comprise roughly 20% of Boulder County residents. Developers have taken note: since 2012, a dozen senior housing developments have been constructed, and three more are under construction or in planning. Together, these projects will add nearly 1,000 units to the county’s senior housing product. But some areas are expressing concerns about providing such an ample supply of senior housing—at least within their limits.  Lafayette, for example, will be home to one third of the new senior housing units and is already reporting that the existing senior population is overwhelming the city’s emergency services.  The city is so concerned, in fact, about the effects of attracting such a large baby boomer population that it’s considering a temporary moratorium on baby boomer-focused construction.  Senior housing experts counter that such a moratorium could exacerbate the county’s growing housing crunch, especially for low- and middle-income elderly who are already under-served.

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Photo of Kyle R. Blackmer Kyle R. Blackmer

Kyle Blackmer represents clients in a variety of real estate and real estate finance transactions. He currently focuses on representing lenders on loans involving all types of real estate, including multi-family housing, mixed-use, office, charter schools and retail.