$21,500,000
Drennan RD Colorado Springs, CO 80928
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$21,500,000
Est. payment /mo
640 Acres Lot
UPDATED:
09/16/2024 05:13 PM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3745085
HOA Y/N No
Annual Tax Amount $239
Tax Year 2019
Lot Size 640.000 Acres
Property Description
NOTE: This is four adjacent parcels; see linked map to see all four. Application for annexation has been filed and is underway.
Stunning views and close proximity to burgeoning development around the Colorado Springs Airport make this 640 acre property an ideal candidate for comprehensive development with relatively high density housing options (12 minutes to Amazon, 15 to COS airport, 5 min to Schriever).
Current property owners are moving forward with annexation plan and are additionally working on creation of comprehensive land use/development plan. Annexation expected to occur in approximately 18 months and city/county approved Preliminary Development Plan is expected to be complete around same time. Water rights available but not adjudicated; there is an existing high performing well on-site. Mineral and water rights have not been severed and run with land.
One notable feature is that parcel is surrounded almost entirely by State or COS Utility property because there is 800 acre reservoir being installed less than one mile West of property; reservoir doesn’t have an official install date, but is expected within the next eight years. Intention is to work with CSU and state to create walking/biking paths connecting subject property with recreational areas of reservoir. Adjacent vacant land parcels and reservoir ensure that stunning front range and Pikes Peak views will remain unspoiled.
This includes everything from larger “estate” lots, standard single family residential, higher density townhome and patio home projects, and affordable housing options mixed with premium luxury in a cluster of high rise buildings with ground floor commercial space.
Stunning views and close proximity to burgeoning development around the Colorado Springs Airport make this 640 acre property an ideal candidate for comprehensive development with relatively high density housing options (12 minutes to Amazon, 15 to COS airport, 5 min to Schriever).
Current property owners are moving forward with annexation plan and are additionally working on creation of comprehensive land use/development plan. Annexation expected to occur in approximately 18 months and city/county approved Preliminary Development Plan is expected to be complete around same time. Water rights available but not adjudicated; there is an existing high performing well on-site. Mineral and water rights have not been severed and run with land.
One notable feature is that parcel is surrounded almost entirely by State or COS Utility property because there is 800 acre reservoir being installed less than one mile West of property; reservoir doesn’t have an official install date, but is expected within the next eight years. Intention is to work with CSU and state to create walking/biking paths connecting subject property with recreational areas of reservoir. Adjacent vacant land parcels and reservoir ensure that stunning front range and Pikes Peak views will remain unspoiled.
This includes everything from larger “estate” lots, standard single family residential, higher density townhome and patio home projects, and affordable housing options mixed with premium luxury in a cluster of high rise buildings with ground floor commercial space.
Location
State CO
County El Paso
Area None
Building
Lot Description 360-degree View, Backs to City/Cnty/State/Natl OS, City View, Mountain View, View of Pikes Peak
Water Well-Active
Schools
School District Ellicott-22
Others
Special Listing Condition Corporate Owned
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Listed by Exp Realty LLC
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Steve Prewitt - CHIC
Broker | Owner | Real Estate Advisor
Broker | Owner | Real Estate Advisor