Investing in land? Anyone who has ever invested in property knows Mark Twain’s famous line about the need to possess land. The famed American humorist and writer pointed out that land has value, because “they’re not making any more of it.”
But savvy property investors need to do much more than grab all the dirt they can handle. Having land is nice, but not all land is created equal, and not all land has true economic potential.
There’s plenty of undeveloped, raw land across Colorado. And while having land can be a great benefit, owning a random piece of ground will not always guarantee investment success.
Profit-seeking investors must look beyond a plot of ground and envision the potential any purchase can provide. Modern investors need to consider the site’s location, access to water, roads, sewer systems, proximity to urban centers and recreational amenities. When investing in raw land, one must always consider how that land can be developed, and how any development will attract investors, businesses, employees and families.
In other words, value comes not from just having a large plot of turf within your investment portfolio, but in the value of what can be done with the property.
Investors searching for opportunities along Colorado’s Front Range are advised to explore the benefits created at Miller’s Landing, a 65-acre mixed-use development in the heart of Castle Rock. Miller’s Landing, which includes hospitality, entertainment, retail and officepossibilities is also geared toward high-tech companies. Miller’s Landing is a true Tech Gateway. The development’s strategic location along I-25 only enhances the site’s options and potential.
The Miller’s Landing development rests on acres once used as a landfill. The overlooked land had sat vacant since 1979, but it’s location at confluence of Interstate 25 and Plum Creek Parkway provided investors with a rare opportunity in one of the fastest growing locations along The Front Range.
This is a development packed with unbridled possibilities. The site’s development is a case study in what investors should look for when purchasing land, said Shawn Temple, Managing Director of the Miller’s Landing project.
“When investing in land, you want to look for sites that are poised for good opportunity,” Temple said. “You want sites that are well designed and come with proximity to amenities that will attract people, companies, families, employees and growth.”
Castle Rock is blessed with all of the above. It’s location just south of Denver, along the vital I-25 corridor, is a perfect fit for development. The site is also within walking distance of Philip S. Miller Park, a 300-acre urban playground includes the Millhouse events center, an outdoor amphitheater, the Miller Activity Complex fieldhouse, the Challenge Hill outdoor staircase, an adventure park and an interconnected trail network. It also includes a public-private partnership that will provide ziplines and adventure courses.
“Castle Rock is an amazing spot, not just because it delivers stunning recreational options and jaw-dropping mountain views, but for basic community benefits such as good schoolsand a development design geared toward the needs of modern employees and families,” Temple said.
Castle Rock’s inherent benefits have attracted 15,000-18,000 skilled employees who live in town, and who seek a more balanced lifestyle than a 9-5 job. These advantages will benefit employers desperate to land skilled workers in Denver’s competitive job market.
“Castle Rock is becoming the leader for Front Range growth. It even made Money Magazine’s 2019 ‘Best Places to Live in the U.S.’ list” Temple said. “We already see a great many skilled employees drawn to Denver and The Tech Center, but trends show that people want to live closer to work. They want to be part of a connected community. The same people who spend hours in traffic traveling from home to Denver will be drawn to the urban village Miller’s Landing provides.”