#Larimer County Real Estate

[lawrencedienerthings]

Drive-in theaters seeing increased traffic with big-name concerts, events

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There were more than 4,000 drive-in theaters in the U.S. in the 1960s, a number that has dwindled to fewer than 370 in recent years as real estate values climb and Americans stream movies into their living rooms.

But the decline of drive-in theaters has been interrupted by the pandemic as remote venues host big-name concerts and socially distanced events. 

“I think the most important part of staying afloat right now is us being able to switch our model to some degree from just being a movie theater,” said Stephanie Webb, whose late husband purchased the Holiday Twin Drive-In in Fort Collins in 1979.

The Holiday Twin has evolved into a community center during the pandemic. Webb has twice hosted the Fort Collins Symphony. A music festival took over her two-screen theater for a weekend. She is hosting parties, fundraisers and comedians as well as Encore Live concerts with Garth Brooks, Blake Shelton and, last weekend, Metallica. That’s on top of weekend movies. Just about every event and movie is selling out, with roughly 360 cars in the 720-car theater parking lot. (The venue’s variance with Larimer County calls for attendance to remain at half capacity.) 

The Holiday Twin never really struggled as a movie theater. Her team routinely turns away a couple hundred cars every weekend during movie screenings. But as the flow of movies withered during the pandemic, the concerts and events are helping her grow her business into a more robust enterprise. 

“This pandemic has brought new life to drive-in theaters,” said Webb, who on Friday was setting up a small stage for a 13-year-old guitarist set to play before the streamed Metallica concert on Saturday night. “If owners can reimagine themselves as more of an event center and not just a drive-in movie theater, they will have a chance at making it through this pandemic.”

A carload of Metallica fans checks in at the gate at the Comanche Drive-In. The band was the latest to perform as part of the nationwide Encore Drive-In Nights series. (Steve Peterson, Special to The Colorado Sun)

Without a steady stream of new movies coming out of Hollywood, movie theaters are suffering. But some drive-in theaters are seeing booming business, especially those near urban populations. And the drive-ins that are hosting events beyond movies are seeing record-setting traffic. But the lack of new movies is hurting smaller, rural drive-ins. 

“I keep hearing how drive-ins are booming. But not in Montrose,” said Pam Friend, whose parents built the Star Drive-In in Montrose in 1949.

Rural theaters rely heavily on locals. And locals apparently like new movies, not necessarily reruns of older or even classic movies. The first new movie released since the pandemic shutdown was the thriller “Unhinged,” which landed in American theaters on Aug. 21. But with the R rating, the movie wasn’t a hit for drive-ins that cater to families, Friend said. 

“We were excited about ‘Unhinged,’ but it just didn’t do what everyone thought it was going to do,” Friend said. 

But the big concerts are helping. 

Garth Brooks’ June concert drew record-setting crowds to drive-ins across North America. Friend’s Star Drive-In can hold 300 cars but she is limited to half capacity per county rules to blunt the impact of COVID-19. She packed 150 cars into her parking lot for Garth Brooks.

“Then Blake Shelton came up and the bottom fell out and I thought ‘Wow what is going on?’ So it really depends on who is playing,” Friend said. “We will see how Metallica does. They are certainly not country and we will see how this area responds to hard rock.”

Pam Friend uses a microphone to make public announcements before the start of a double feature at the Star Drive-In movie theater in Montrose Colorado Saturday June 15, 2019. (William Woody, Special to the Colorado Sun)

Friend hasn’t really seen the ups-and-downs of the drive-in movie business. Her family endured a small decline in business in the 1980s, when the VCR landed in living rooms. But ever since her parents opened the Star Drive-In, it has been kept alive by local residents. 

“We’ve not really seen any slumps. Our community has supported us over the last 71 years. I guess we are a bit of an anomaly in the drive-in industry,” said Friend, whose theater ranks as the nation’s oldest drive-in still owned and operated by its founding family. 

The challenge for drive-in theater owners over the past two decades has more to do with real estate than the movie business. Drive-ins require lots of space and in urban settings, space is valuable and maybe hosting weekend movies for half the year isn’t the most profitable use for that space. 

“I think the struggle for most owners is realizing the property is worth more money than you can make in several seasons. It’s hard to turn down 10-times your annual income,” Webb said. 

Walter Kinzie’s Encore Live has been hosting major events for years. They put on President Donald Trump’s inaugural ceremony in 2017. The Fort Worth, Texas-based company partnered with more than 300 drive-in theaters in the U.S. and Canada for a Garth Brooks concert on June 27. The event was the largest single event sale in Ticketmaster history, with an estimated 350,000 people watching the performance, which Brooks and his band pre-recorded just for drive-ins at a venue in Nashville.

Encore Live followed with a Blake Shelton concert and, last weekend, the Metallica show. Kinzie said more than 700,000 fans have seen his three drive-in concerts and the Saturday Metallica show ranks as the most-viewed concert in the 39-year-old band’s history.

He had more than 100 drive-in owners report their busiest-ever days after the Brooks concert and Kinzie is recording more big-name artists to keep the shows going. He’s also hired 3,000 workers to help owners who maybe are unprepared for the surge in traffic. Most of the cars attending the Encore Live concerts are loaded. The $115 tickets are per vehicle and allow for six occupants. Everyone must have their own seatbelt, the ticket’s fine print says.   

Chris Pierce and Kayla Hein of Aurora were the first to show up at the drive-in, nearly hours before the 8 p.m. Metallica show. In the next moments after this scene, they scrambled to shelter the stereo setup in the car before the thunderstorm came. (Steve Peterson, Special to The Colorado Sun)

The Metallica concert showed at seven drive-ins in Colorado. The temporary pop-up theaters at North Denver’s Berkeley Chapel and Park Meadows Mall quickly sold out, prompting Encore Live to offer second screenings later on Saturday night. 

“The Denver market in general is just killing it,” said Kinzie, who calls the drive-in concerts “curated content that is hyper specific to the time and hyper-specific to the way music is being consumed right now.”

Margaret Stalcup saw big crowds at her Tru Vu Drive-In in Delta this spring as pandemic regulations surrounding the shutdown loosened. But the crowds have thinned this summer. Stalcup suspects the lack of new movies is behind the dwindling interest.

The Garth Brooks concert was a good boost for the Tru Vu. Stalcup hosted 130 cars at that show, nearing the half-capacity limit for her 300-car drive-in. But only 40 people bought tickets for Blake Shelton. 

“That was a big drop off but we are kind of in an area where $100-plus per vehicle is on the steep side. But I’m feeling confident for Metallica,” said Stalcup, who bought the Tru Vu and Delta’s Egyptian Theater from the previous owner’s family about a year ago. 

Well over 100 cars, trucks and SUVs showed up for the Easter sunrise service at the Tru Vu Drive In theater in Delta on Sunday April 12, 2020. (William Woody, Special to The Colorado Sun)

Garth Brooks also sold out at the Comanche Drive-In, the Buena Vista outdoor theater opened in 1966 by John Groy’s parents. The Metallica show sold out, too, even after Groy upped the capacity to 140 cars from 130. (The drive-in, at the foot of the Sawatch Range, can hold as 250 vehicles.) He’s also hosted For King & Country, a Christian pop duo that filmed a movie at the Comanche. And the movies are starting to come back. He screened “The New Mutants” superhero movie last Friday, though it was not as busy as some of the old classics — like “Ghostbusters,” “Gremlins” and “The Empire Strikes Back” — he showed earlier this summer.

“We have had a venue this summer that is entirely different than anything we have ever seen before,” Groy said. “The concerts have definitely helped. And I think the pandemic has been good for our business as people seek out opportunities to get out and be safe.”

The surge in business has helped John and his wife, Barb, keep the Comanche afloat. A couple years ago they spent nearly $100,000 transitioning their drive-in to digital projection from film. This summer, as Buena Vista emerged as a tourist hotspot for outdoor recreation during the pandemic, the Groys scrambled to handle the increased traffic. 

“It’s just the two of us and it’s been hard to keep track of the bookings and people and traffic,” Groy said. “We are pretty happy to see the summer winding down.”

The Groy family — Dan and Laura, Barb and John and Mike — owns the Comanche Drive-In in Buena Vista. (Steve Peterson, Special to The Colorado Sun)

The deal with Encore Live is similar to most arrangements between theater owners and movie producers: most of the box office receipts go to the distributor and the drive-in theaters keep the concession money. That works out well but Stalcup worries that big crowds might be deterring COVID-wary folks from standing in line to buy food and drinks from her grill. 

But her primary concern is the lack of new movies. She was looking forward to Disney’s new live-action adaptation of its animated movie “Mulan,” which was set to hit theaters in March. 

Disney delayed the release three times and earlier this month announced plans to release the film for $30 on its subscription-streaming Disney+ channel. The unusual release of “Mulan” means it can only be seen in theaters in countries that don’t get Disney+.  

“That hurts us. We were looking forward to a big moneymaker with ‘Mulan’ and now we are not going to get anything,” Stalcup said. 

The Encore Live concerts also helped Roy Patel at his Star Drive-In in Monte Vista, which is part of his Best Western Movie Manor hotel, where guests can watch the drive-in movies from their rooms. 

He saw about 100 cars for Garth Brooks but only 10 cars for Blake Shelton. As of the middle of last week, Encore Live had reported about 35 ticket sales for Metallica at his drive-in. 

But overall, business is down from last year, Patel said. 

“It’s getting better, but we are running old movies. People like the old movies but it’s not the same as the new movies,” he said, reporting about five or six cars a day at his drive-in, which shows films every day. “Maybe it’s due to COVID, maybe it’s since we don’t have new movies. But this year is drastically different than last year.”

Kinzie is traveling across the country in an RV with his family and watching the concerts at rural drive-ins in Texas, Kansas, South Dakota and Montana. He grew up in a rural town in Kansas. He remembers seeing “Aladdin” at the local drive-in as a kid. His career of hosting major events in cities grated against his small-town roots. 

“If you wanted to see big entertainment and my big productions, you had to drive to the big city,” he said. “I realized that was not helping small towns and that’s how I came up with this idea.”

A two-second exposure captures smoke from the Pine Gulch Fire flowing over Montrose and the Star Drive-In on, Aug. 21, 2020. (William Woody, Special to The Colorado Sun)

Kinzie sees rural America enjoying a resurgence in the pandemic. His concerts are not just helping small businesses in rural outposts, but local residents as well, he said. 

“This is something for people to put on the calendar and look forward to getting out in a safe way and create some joy and create some memories,” Kinzie said. “I would hope that in three years or a decade from now, that when we look back on COVID, I hope some people are able to say it wasn’t all bad.”

Other artists and producers have embraced the drive-in model as the live music industry collapses. Pollstar in late June reported that North American concert venue revenues were down 54% and ticket sales sales were down 56% for the first part of the year compared to the same period in 2019. 

Live and streamed concerts at drive-ins are becoming more common, with dozens of bands and artists performing for fans in cars parked at small-town drive-ins. 

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[jasonheart1]

Larimer County could raise park entrance fees

Editor's Note: 'Our Colorado' stories help natives and newcomers navigate the challenges related to our rapidly growing state, including real estate and development, homelessness, transportation and more. To comment on this or other 360 stories, email us at OurCO@TheDenverChannel.com. See more 'Our Colorado' stories here.

LARIMER COUNTY, Colo. -- Entrance fees for Larimer County parks and open space have not been raised in more than a decade, but during that time there's been a dramatic increase in use. 

Colorado's growth is one of the factors county officials are considering as they study current pricing.

"A lot of these areas are intensively used and we see a lot of capacity issues. It takes more time and staff and personnel and things to address those issues," said Gary Buffington, Natural Resources Director for Larimer County.

Devil's Backbone Open Space is one example of significant visitor growth. In 2014, the area saw 67,936 visitors — and that number is expected to exceed 100,000 next year.

Larimer County hired a Denver-based company to conduct a fee study. The study projects a $2 increase for Carter Lake, Flatiron, Pinewood and Horsetooth reservoirs. It currently costs $7 to get in.

Fees for campsites at those reservoirs could be increased, too. The price for an electric campsite from April to September could go up from $25 to $32. 

The study also suggests raising fees at open spaces from $6 to $9.

The proposed increases aren't final and there will be an opportunity for public input. Larimer County is holding an open house to discuss the fee changes on October 22 from 6 p.m. through 8 p.m.  at the Larimer County Loveland Campus. More information on the fee study and open house is available here.

from Local News https://www.thedenverchannel.com/news/our-colorado/larimer-county-could-raise-entrance-fees-for-parks-and-open-space

[alfredrserrano]

Colorado Closeup: This booming town is a green-energy epicenter (and it’s still affordable) (Photos)

Windsor is a rapidly-growing northern Colorado community with a particular focus on the green industry. That's because this town straddling the Larimer-Weld county line is home to one of wind turbine-maker Vestas' four Colorado facilities, producing blades for windmills. The "green" focus doesn't stop at the blades, either: Windsor also supports ethanol production and has a massive recycling facility. The town is home to about 23,000 people and about 950 businesses — plus several recreational…

from Fort Lauderdale Real Estate News & Residential Real Estate News - Residential Real Estate News Headlines | Bizjournals.com & Banking & Financial News - Banking & Financial News Headlines | Bizjournals.com http://feeds.bizjournals.com/~r/industry_21/~3/Hr4iVbv_KJ8/colorado-closeup-this-booming-town-is-a-green.html via

[brandontremax]

Getting 2018 off the ground...

Welcome to (mid-)January! It's about time to get this real estate year fired up!  I am having several conversations with potential buyers and sellers and I believe this will be the year for those that have been slow to decide, holding out for a different market, or just waiting for their personal timing to come together.  Although listings are still sparse, the pivot from crazy sellers' market to more 50/50 balance has taken place and things are more manageable for both sides of the table.

Speaking of listings- yeah, we could use some of those.  Many neighborhoods are without a single active listing today.  Brown Farm, English Ranch, Dakota Ridge, Golden Meadows, Maple Hill- to name a few- are lacking a single listing or have just had one pop up this week.

The biggest surprise here is Brown Farm.  Brown Farm, in the central western part of Fort Collins, was the first neighborhood I noticed last fall that had "too many" listings and each new listing was undercutting what was on the market and prices began to steadily decline....that's right, I said that!  But now, a mere two months later, not a single listing.

As a result of that, over the last 60 days, many urgent buyers have been "stuck" buying new construction.  There just weren't any other options for those on a time crunch.  As such, there were 211 closed new construction homes since October in Northern Colorado.

There are only 44 active resale homes in NoCO from $400-500k. There are only 6 condos/townhomes under $200k on the market and only 13 under $250k.  

So how can the market possibly be more balanced, Brandon?

Thanks for asking.  The prices have reached a point that buyers are more selective and more able to negotiate and take their time through the buying process- even with very few homes to choose from.  And, most importantly, there are fewer buyers chasing these homes.  After all, prices have appreciated 48% in Larimer County over the last 5 years and 52% in Weld.  Appreciation in Fort Collins was 8.43% in 2017, it was the first year it was under 10% since 2014.

We have reached a point where some folks simply can't qualify to purchase a home in Northern Colorado.  With the median sales price of a home at $380k, with 10% down, taxes, insurance, and mortgage insurance, buyers are looking at a monthly payment of about $2,200 per month.

Due to these higher prices and other factors, FHA financing (allowing down payments of 3.5% and looser credit standards) has increased their loan limits to $376,050 in Larimer County and $358,800 in Weld.

Things are changing for sure!  Please give me a call or refer me to those you know and love that have real estate needs!  I don't take your trust lightly.

Lastly, please consider stopping by BizBrew!  This is a very informal group of folks that stop in from time to time on Tuesdays, 9am, at the Front Range Village Panera.  Put it in your calendar and drop by sometime.  It would be great to see some new faces this year!

Source: IRES and NAR Until next month!

[garynsmith]

Coffee shop jokes about gentrification, ignites backlash

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A trendy coffee shop in Five Points, one of Denver’s oldest neighborhoods, was roundly criticized for putting out signage that made light of gentrification. The backlash brings to the forefront the conversation surrounding the ugly underbelly of the city’s rapid growth and transformation, namely, the displacement of longstanding, often-minority residents, the New York Times reported today.

On Saturday protesters gathered outside the shop called Ink! Coffee, a chain with 16 locations in Colorado, to express their distaste for a sign that read “Happily gentrifying the neighborhood since 2014” and another with the message “Nothing says gentrification like being able to order a Cortado.”

Denver, you should let these folks know what you think of their gleefully colonizing sign! 😊@inkcoffee 2851 Larimer Street Denver, CO 80205 📞: 303-292-7327 http://pic.twitter.com/fq3KuDWRtA

— ashley yates (@brownblaze) November 23, 2017

The signs drew ire from past and current residents of Five Points, a historic area described by the Denver Library as having been a “sanctuary for the African American community” that “is now undergoing an urban renaissance.” The Mayor of Denver, Michael Hancock, who has spoken of his concern about the city’s housing affordability, also condemned the advertising. The cafe was vandalized with graffiti and a smashed window.

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Founder of Ink! Coffee Keith Herbert issued an apology on Facebook on the afternoon of Nov. 23. As of press time, the Five Points coffee shop had remained closed.

Denver is one of a number of American cities experiencing dramatic growth, a reality that comes with highs and lows.

Stacie Staub, a real estate expert and founder/owner of West + Main Homes, which has an office in Five Points, described Ink! Coffee’s messages as a real “misstep in marketing.”

Every local business should be “cognizant of the history” of its residents when it comes to its marketing, she said, adding that the word gentrification has negative connotations and is simply not part of her company’s vocabulary.

Five Points, best known for its jazz music heritage, has a new World Trade Center being built nearby, is home to a number of art galleries and boasts a diverse range of architecture from Victorian homes to craftsman-style bungalows. It also has a light rail station, making for easy downtown and airport access, a perk that draws people to the area.

All over the Denver metropolitan area, the real estate community is seeing neighborhood transitions which bring pros and cons, Staub said. Around 10,000 people move to the city of 2.9 million every month and very few are leaving, said the owner.

“We currently have about 6,000 active listings across 11 counties, and we would need 30,000 listings for a balanced market,” she said.

Staub has been pleased with efforts by the city to protect and keep residents in their neighborhoods, including a fund to preserve affordable housing launched by Mayor Hancock in 2016. The city has also recently created an environment that’s more welcoming to condo construction.

Andrew Abrams, a member of the Denver Metropolitan Association of Realtors’ market trends committee and an associate broker with Vision Real Estate, said that while gentrification might be “natural” in fast-growing communities across the country, it isn’t necessarily good.

At a closing this morning when another agent said the street needed to “be gentrified,” Abrams’ hackles rose.

He advises agents whose markets are undergoing change: “Don’t use the word gentrification and be proactive; volunteer to help in any way that strengthens that community’s identity.” Agents can get involved in committees and try to help maintain culture throughout rapid change.

Realtors are mediators in their communities, he added. They have to make a decision on their business model: Do they want to help people simply buy and sell houses or or are they there to have an impact on their community?

Email Gill South.

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[todd2014blr]

Downtown areas throughout Larimer Co. are thriving

It is no secret that nearly every product type of commercial real estate in Larimer County has performed well for the past five years, but stories of the historic downtown districts have remained relatively quiet. Sure, the student housing market in and around Old Town Fort Collins has been robust and newsworthy, but broad, meaningful economic growth has been occurring in this nationally recognized central business district since a “tipping point” occurred in 1997, when nearby residential appreciation accelerated, major public investments were made, and a homegrown dining and brewing district began to gain regional prominence (ever hear of New Belgium?).

The emerging story is that activity similar to those early years in the revitalization of Old Town Fort Collins is underway in the cores of nearby downtown areas such as Wellington, Loveland, Windsor and Berthoud. These authentic downtown districts continue to function as resilient mixed-use neighborhoods and serve as aspirational models for city-planning efforts, as well as practical models for developers creating distinctive retail and mixed-use projects on greenfield sites.

[growingdenver]

Downtown areas throughout Larimer Co. are thriving

Downtown areas throughout Larimer Co. are thriving

It is no secret that nearly every product type of commercial real estate in Larimer County has performed well for the past five years, but stories of the historic downtown districts have remained The post Downtown areas throughout Larimer Co. are thriving appeared first on Colorado Real Estate Journal. Continue Reading      

[thesequencers]

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