A Missouri developer with a longtime love of Leadville has purchased the former rail yard at the city's entrance with plans for a 250-home mixed-use community.

John Lichtenegger wanted to buy the 40-acre parcel — known locally as Poverty Flats or the "We ♥ Leadville" property, because of the painted fencing running along U.S. Highway 24 — back in 2007, but the lack of sewer infrastructure made him pause. After the city spent $1.7 million upgrading its sewer system and pushing a 15-inch main within 500 feet of the property, Lichtenegger revisited the plan.

He spent $1.35 million for the land, where he hopes develop 12 acres of commercial and retail space and 28 acres of single-family homes, townhomes and condos. Half of the 250 homes he wants to build will be affordable housing for local workers.

"This is not a luxury development. It's a very modest development with some incredibly beautiful homes with stunning views," Lichtenegger said. "The landscape of Lake County is, I think, the best in all of Colorado. Almost every single residence we build will have the best views of Mount Elbert and Mount Massive."

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