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2/21/23
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Here’s news of a unique Colorado mixed-use development opportunity that’s just hit the market. The listing is for The Farm on the Colorado, consisting of approximately 1,123 acres in Garfield County. The property features nearly two miles of Colorado River frontage and 1.5 miles of Interstate 70 frontage (both sides) with a full interchange less than a mile away.
The Farm on the Colorado is currently in agricultural use, with over 1,000-acre feet of water rights that irrigate approximately 300 acres of the valley floor, its boundaries stretching from the Colorado River to the south, all the way to rolling uplands to the north that border BLM lands.
Cushman & Wakefield’s Matt Davis, Jim Capecelatro, Melanie Haynes and Shannon Whitfield, in collaboration with Tom Latousek of the Mirr Ranch Group and Michael Latousek of Douglas Elliman Aspen, are leading the sales effort. The listing team is marketing the property for $30 mil on a “bulk” basis and in its “as-is” condition.
“This is an incredible opportunity to acquire a resource-filled farm and ranch while positioning the property to meet one’s investment and development goals,” said Davis. “Whether annexed into the Town of New Castle or developed in Garfield County, The Farm will add significant commercial development and new housing for the growing population.”
“The Farm on the Colorado possesses prized water rights with its diversion consisting of high-quality “sweet water” coming from the upper alpine reaches of nearby Canyon Creek. These water rights equate to over 1,000-acre feet of water supply. In addition, a 10-acre lake sits on the Property providing valuable storage capacity,” noted Latousek.
The property is near an abundance of amenities and popular outdoor recreational activities in the bustling New Castle-Glenwood Springs, an area that is world-renowned for its hot springs and spas, world-famous skiing, golf, fly-fishing, hospitality, restaurants and shopping, wineries and orchards, Glenwood Caverns Adventure Park mountain-top theme park, private airports, and more. Aspen is also within an hour and Denver is within three hours of the property.
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