Editor’s note: This is part of a sporadic series on new projects, businesses and developments “going up.” If you know of some good examples, give us a call or shoot us an email to let us know about them. 

A new development of upper-end condominiums is going up off Ogden Road, across from The Bridges, and ground is set to break on the project in the next couple months.

A look at the layout of the complexes.

Coker Homes is developing the project, called The Farmstead at Valley Ranch, that calls for up to 55 units: upper-end one- and two-bedroom models with decks and porches to enjoy the outdoors, all in “eight-plex” buildings.

David Coker of Coker Homes said the project came about due to the fact that recruiting high-earning employees to Montrose can sometimes be difficult.
These units, which will be around 1,100 square feet will have all the amenities of an upper-end home, but with less space, for people who don’t have large families, for instance.

Coker said a single doctor, for instance, can be tough to recruit to Montrose due to a lack of smaller homes.

Pre-sales for the homes have already begun, and Coker said they have already gotten calls from about four people in the last week interested in buying.
These units will be in the $400,000 range.

Coker touts the project’s proximity to shopping, golf and exercise, all within walking distance.

The initial construction will include a sales center onsite to assist future residents. Indoor parking is also an added amenity.

Coker said he thinks the project will be a “home run.”

“The city of Montrose is pushing for a more affordable housing project, and this condo plan works in very nicely,” he said.

ElderAdo Financial getting
new digs on South Townsend

Another project in the works (and you can’t miss it if you drive along South Townsend Avenue) is ElderAdo Financial’s new building, going up right next to the old one, across Spruce Drive.

Under construction, the new ElderAdo Financial building, which includes rentable office space. (Justin Tubbs | Montrose Business Times)

A sign out front reads “COMING SOON, ElderAdo World Headquarters.”
The change in scenery comes as the financial firm has outgrown its current space at 1100 S. Townsend.

A rendering of the new building for ElderAdo Financial. (Provided)

“We ran out of space, and also, we’ve been here since 2002,” said Jaimee Carnes, Certified Financial Planner and daughter to Jim Elder who started the business. “As we’re rowing, the building is aging, so it’s less accessible.”

They said they were going to have to move at some point and decided the space right across from them would be the most logical.

The building they are moving into has previously served as Coffee Realty and Buckhorn Coffee. Most recently, it has served as residential.

The new building will include rentable office space. ElderAdo will take over 2,000 to 2,500 square feet of the 7,000 square-foot building.

The project is currently under construction, and Carnes said they are being “ambitious”in projecting being finished by Labor Day.

Justin Tubbs is the Montrose Business Times editor. He can be reached by email at justin@montrosebusinesstimes.com or by phone at 970-765-0915 or mobile at 254-246-2260.