Colorado Springs Homes for Sale

Colorado Springs Homes for Sale: As big as it is, it's difficult to think of the Banning-Lewis Ranch in Colorado Springs Homes for Sale as the land that time forgot. But that's what it's become. Annexed by the city 12 years ago, the 21,400-acre ranch, which a California developer has now agreed to buy, represents a land mass a little larger than Boulder. The 4-mile-wide strip of property runs almost 15 miles and makes up almost all of the Colorado Springs' Homes for Sale far east side.

Yet the Colorado Springs Home for Sale property largely remains vacant grazing land. No homes or shopping centers were ever built. Drivers heading home to thriving developments farther east whiz past the ranch's few inhabitants -- cattle and wind-blown grass. Blame the financial problems of one owner and the indifference of another for the Colorado Springs ranch's fallow state. That all might be about to change, however. Capital Pacific Holdings Inc., a Colorado Springs real estate company with luxury developments all over southern California, has contracted to buy the ranch from a family of Saudi billionaires, who seem to have viewed the property as simply another nonperforming asset since buying it in 1993 from a list of other Colorado Springs Homes for Sale .

Colorado Springs Homes for Sale

Besides the company, nobody knows Capital Pacific's plans for the property or for other Colorado Springs Homes for Sale . The company hasn't returned telephone calls since the deal was announced last week, and the sale isn't scheduled to be completed for a year. The sale price is a mystery, too, although one local Colorado Springs real estate expert has pegged it at $ 80 million to $ 100 million. But a look at the list of Colorado Springs Homes for Sale reveals it will take more than money to transform the Banning-Lewis Ranch from prairie to promise.

A strong economy and continued local population growth will be crucial. But any Colorado Springs developer also must weather a political climate increasingly clouded with populist anti-growth sentiment and a plethora of Colorado Springs Homes for Sale . Above all, any owner of the Banning-Lewis Ranch who wants to see a return on the investment must have patience; it is, after all, the largest single annexation in Colorado Springs real estate history and a property so huge that it could take a century to develop the thousands of Colorado Springs homes and businesses it would yield.

-inspired by the Colorado Springs Gazettel: Colorado Springs Homes for Sale

---