Greeley is growing and always improving! You may have heard about the Greeley Revitalization project and some of the economic growth plans coming to our great city.
Greeley is Growing Economically
First and foremost, Greeley is a great place to live, but many people wonder if Greeley will continue to grow economically, especially with slow downs in oil. And what does that mean for the prices of real estate?
Despite changes in oil, Greeley is continuing to grow economically. This allows for reinvestment back in the community to continue to modernize and improve this excellent city.
In fact, Greeley is projected to have the 2nd highest economic growth rate out of any city in the US between now and 2020 (download the source PDF here: USMayors.org).
Factors analyzed include employment growth, employee production, metropolitan output, and much more. This was an in-depth study and certainly provides a very rosy picture for Greeley and its owners of real estate.
Factors for Greeley’s Continued Growth
Recent data shows that while growth is not as robust as it was in 2014 and 2015, growth is expected to continue at a rapid clip through the foreseeable future. Greeley maintains very strong in other sectors, including health care, which provides many high quality jobs.
BizWest provides a detailed look at economic factors for 2016 and beyond. These factors span Northern Colorado, and include uptrends in:
- Health Services
- Real Estate
- Professional and Business Services
That’s a strong list that is expected to go up and more than offsets the loss in energy production (oil).
Greeley’s Growth Means Reinvestment in Our Community
Since indicators, studies, and experts all tend to agree that Greeley will continue to grow well into the foreseeable future, you can expect investment back in our wonderful city.
One of the first areas of focus is the Downtown Greeley area. Goals include:
- Focusing on Greeley being a college town, rather than a town with a college. This means more shopping, dining, and entertainment geared toward UNC and the support that goes with it.
- More flexibility in terms of outdoor use, seating, and entertainment.
- Attractive hotels offerings visitors an easy place to stay.
These goals will be achieved by offering incentives from the Dowtown Development Authority (DDA) to businesses to align their practices accordingly. More details and specifics can be found here on BizWest.
New Downtown Greeley Hotel and Conference Center
One of the most notable additions to downtown taking advantage of the DDA incentives is currently underway. The new DoubleTree by Hilton hotel just broke ground in April and will be a local $31 million dollar project, located on the former site of the city’s Lincoln Park Library, municipal court and Fire Station No. 1.
You can drive by and see the construction now!
And here’s a video of what it will look like:
Other Additions and Changes Coming to Greeley
While the hotel will be very large and noticeable, many other changes are planned too:
- A new City Hall
- The County and Chase Plaza
- Moving the Lincoln Park Library to a more central downtown location
- Rehab of the Jerome Building
- Conversion of the Old Masonic Temple into a a restaurant and event center
- Numerous other projects still in the planning and discovery phase
Greeley is Always Improving
While much of the growth and modernization focus has been to the West, expect to see much more attention on Old Town Greeley and the East side of town. This is a very exciting time to see some excellent work take place in Greeley and see our town grow up smartly.
As the DDA puts it themselves, here is the focus:
- Downtown business recruitment and retention projects
- Historic preservation
- Technical & architectural assistance
- Downtown beautification
- Architectural assistance for property owners
- Information about incentives for new businesses and property rehabilitation
- Special events such as Oktoberfest and Friday Fest
While these improvements are underway, make sure to stop by http://www.greeleydowntown.com/ to get the latest information on projects and events. Enjoy Friday Fest and many of the other great activities available in the Downtown area.
The Ferguson Team hopes to See You Downtown
As always, if you have any questions about this content or how your property values will be affected, just drop us a comment here, call us at 970-573-6441 or Contact Us online. Thanks for reading!