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Greyhound’s Real Estate to be Purchased

A Glendale-based development firm that recently underwent a generational leadership change is under contract to purchase a portion of Greyhound’s real estate holdings in Five Points.  Search homes for sale in Flying Horse Colorado Springs, CO here: http://www.rehava.com

Corum Real Estate Group President Eric Komppa told BusinessDen Wednesday that his firm expects to close on the 1.15-acre 2420 Arapahoe St. parcel.  And the 0.54-acre 2301 Curtis St. parcel toward the end of the year.  The undeveloped fenced-in lots, at the edge of what is considered Curtis Park, are separated by an alley.  They are currently used by Dallas-based Greyhound to park buses.

Three-Story Apartment Complexes 

Last week, Corum submitted a pair of concept plans to the city, proposing to develop three-story apartment complexes on each lot. The buildings would have 189 units total, and an identical number of parking spaces, according to the plans.

The building along Arapahoe would also have between 2,000 and 4,000 square feet of retail space, Komppa said.

“I love Curtis Park,” Komppa said. “I love the neighborhood identity, and we want to further help supplement that identity.”

BusinessDen reported in January that Greyhound had hired CBRE to shop around the parcels.

Greyhound also owns 2450 Curtis St.  That is an additional 0.94-acre parcel across the street that has a building used for maintenance on it. Greyhound applied for a certificate of demolition eligibility for the structure late last year.  However, they withdrew the request after three nearby residents considered asking the city to designate the building a landmark.

The residents said they hoped the building could be repurposed.  More broadly, that they hoped redevelopment of Greyhound’s holdings would not be entirely residential in nature. They opted not to proceed with the landmark application when Greyhound withdrew its request.

Komppa said Corum is not currently under contract to purchase 2450 Curtis St., but the firm could potentially be in the future.

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