Six years ago First Street and Railroad Avenue in downtown Loveland, Colorado was called a ‘blighted corner.’
The one-acre site where the unfinished Park Place Plaza resides was once a hodgepodge of tiny mobile homes, abandoned cars, weeds and junk before construction began six years ago.
A new owner plans to finish the second half of the project that has languished empty since construction stopped in 2009. Completion date is September, 2012.
The architect designed the project to look like row houses in dense central Boston.
The original owner received a $2.3 million construction loan from Frontier Bank in Greeley. The bank has since failed and was taken over by the Federal Deposit Insurance Corp.
What about the signs warning of potential flooding?
The big yellow signs (pictured) say the area is a detention pond and subject to periodic flooding of up to 6 inches.
Will tenants need to keep waders handy just in case?
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