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Loveland council approves Ponderosa Ridge service plan, authorizing $76M debt limit for five metro districts
Summary
The council voted 7–1 to approve service plans for five Ponderosa Ridge metropolitan districts that allow up to $76 million in public-improvement debt; proponents said the project will yield roughly 1,300 housing units while residents and some councilors raised affordability and long-term tax concerns.
The Loveland City Council voted 7–1 on Aug. 18 to approve service plans for five proposed Ponderosa Ridge metropolitan districts, clearing a procedural hurdle that allows the developer to pursue bonded financing for on-site and off-site infrastructure estimated at $76,000,000.
Developer representatives said the roughly 279‑acre project north of West 43rd and east of Wilson Avenue will include multiple housing product types — single-family detached, duplexes, townhomes and multifamily rental — and could yield about 1,300 units across the five districts. The proponents said the service plan aligns with the city’s model service plan…
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