Local developer McWHINNEY Real Estate Services Inc. plans to break ground this week on Pinyon Pointe, a 166-unit housing development in Loveland that includes a mix of apartments and townhomes.
Pinyon Pointe will sit on roughly 10 acres of vacant land just west of the Waterford Place Apartments, near the northeast corner of U.S. 287 and 14th St. Southeast.
The project is expected to be completed by winter 2018.
Units will range from 600-square-foot studios to 1,300-square-foot, three-bedroom townhomes. McWHINNEY isn’t yet disclosing lease prices. While units will be rented at market rates, McWHINNEY vice president of marketing Celeste Smith said Monday that the units’ smaller sizes will likely put them toward the more-affordable end of the market.
“It’s designed to be affordable,” Frazier said.
Pinyon Pointe is the new name for what originally was to be a second phase of Waterford.
McWHINNEY officials last week filed a Form D with the U.S. Securities and Exchange Commission under the entity MWaterford LLC, indicating that the firm had raised $11.25 million in equity financing. Frazier said she couldn’t comment on the funding or on the total estimated cost of the Pinyon Pointe project.
David Jaudes, vice president of multifamily development for McWHINNEY is serving as developer of Pinyon Pointe, while Ben Krasnow is senior project manager. CR Architecture is leading design of the project, while Fort Collins-based Drahota is general contractor.
“Pinyon Pointe will be another highly amenitized McWHINNEY multifamily community,” Krasnow said in an emailed statement. “It’s exciting that the project is so close to the Big Thomson River and downtown Loveland. We are committed to enhancing the community fabric of Loveland, Colorado.”