Through November 2022, Greeley has seen a nearly 5:1 ratio of multi-family to single-family residential permits issued. The current building boom is welcome, given the dearth of new multi-family projects in Greeley since the end of the Great Recession. Our market has suffered from a supply problem for the past decade, which has created upward pressure on rents. This influx of new construction should relieve some of that pressure and provide an excellent array of housing options for new and old residents alike. Most of these new projects are conveniently located near major employers, such as JBS headquarters at Promontory, Aims Community College, and UC Health hospital.
Here are just a few we are highlighting as we near the end of 2022.
Alpine Flats Apartments
The Alpine Flats project, located on 7.2 acres at 5002 West 20th Street, will include 200 units ranging from studios to three bedrooms. This now-under-construction project is being developed by Richmark Companies. The general contractor is Brinkman. Watch a video of the new Alpine Flats construction site.
Rock Ridge Apartments
Rock Ridge Apartments is a large multi-family project located on roughly 41 acres east of 65th Avenue, near the new UC Health campus in southwest Greeley. The combined 732 new units will consist of a mix of 450 one-bedroom and 282 two-bedroom units. The construction project timing will run from 2023-2024.
Promontory Apartments is another Journey Homes project in Greeley. Located on nearly 22 acres on the north side of Highway 34 in Promontory, this project will deliver another 480 units to the market, ranging from 1 to 3 bedrooms. The first wave of units will open in the first quarter of 2023.