FORT COLLINS — Encompass Technologies has officially acquired the land on which it plans to build its new headquarters.

The company's new HQ at 418 Linden St. will serve as the main component in a larger project called Block One. The development will include multi-family housing, retail and a restaurant.

Encompass paid slightly more than $1 million for the land. The entire project is expected to come with a $9 million price tag.

The development drew criticism from environmental group Save the Poudre, because of its proximity to the Poudre river, but Kent and Jonathan O'Neil, the father-and-son team that founded Encompass, see the location as a draw for potential tenants and a catalyst for riverfront development.

Kyle Lundy of Sperry Van Ness brokered the land transaction.

Read more about the Block One project here.