1650 Upper Apex Rd Central City, CO 80422

This 41-acre property presents a rare Front Range mountain development opportunity with multiple paths for development through Gilpin County or Central City. The current zoning is Resource Residential, allowing for the construction of 13 homes by-right in the County. Annexation into Central City may allow for significantly denser zoning, as demonstrated by the townhome development next door built out at a density of 10 units/acre. The property benefits from its proximity to amenities, being a 20-minute walk to downtown Central City with casinos, shops, and restaurants, and a 20-minute walk to Central City Reservoir for fishing. It is also a 10-minute walk to Arapahoe National Forest. Denver metro is a 45-minute drive, with accessibility via I-70, US 6, and Hwy 72. The property has electricity, and water and other infrastructure are located along Upper Apex Road. The slope and topography are relatively flat for mountain property, and no area is undevelopable due to topo constraints. There is intense housing demand pressures both locally for casino workers and more broadly for Front Range workers and residents. The townhomes next door had an average sale price of $480,000 and an average unit size of 1,887 SF. The townhomes were built in 2008.