A Colorado Real estate investing company has secured a $15-million loan to build an apartment complex and an RV park located in Grand Junction, a report said.
Four Points Funding received the loan from FirstBank for the Eddy at Grand Junction. The project will comprise an apartment complex with 96 units and an RV park with 74 units.
“Grand Junction has all the key fundamentals to benefit from the migration to Colorado’s Western Slope,” said Stephanie Copeland, a partner at Four Points Funding.
“Good schools, exceptional hospitals, outdoor recreation, a recently expanded airport, and a growing small business community make Grand Junction an attractive place for young people and families seeking an alternative to the density of the Denver and Boulder markets.”
Stacey Novak, vice president at FirstBank, said that she was thrilled to partner with Four Points Funding on the project.
“We’ve been following Grand Junction‘s development for a long time, and we’re aware of how much the housing infrastructure is needed to ensure that the community will remain a wonderful area to work, live, as well, as play in the eyes of many Coloradans,” she said”
“We’re confident that Four Points will make a substantial impact, and we are thrilled to see their vision come to fruition,” she added.
Four Points Funding focuses on Colorado projects located in Opportunity Zones that offer tax benefits for investments. The majority of these projects involve multi-family housing developments within regions experiencing rapid population growth and economic expansion.