Richmond American Announces Lot Deal In Denver-Area MP
Plans to purchase 1,000 lots in The Aurora Highlands.
Richmond American Homes of Colorado Inc., a subsidiary of M.D.C. Holdings Inc. (NYSE: MDC), said Wednesday it plans to purchase 1,000 home sites at The Aurora Highlands, one of the largest mixed-use master-planned communities in the Denver region.
Richmond American Homes is the first home builder slated to begin construction in one of the most highly anticipated mixed-use master-planned communities along the Front Range. Approximately 12,000 residential units will attract up to 32,000 residents to the 3,100-acre master-planned community situated in northeastern Aurora.
Richmond American Homes is planning to open models and begin sales in its first phase of home sites this spring. Select home sites will be situated in Highlands Green, one of the community’s eight distinct residential villages.
In addition to its signature homes, Richmond American Homes will offer floor plans from its Seasons Collection and Urban Collection. The single-family and paired home series are designed to place homeownership within reach for a wide range of buyers.
Those who choose to build a new Richmond American home from the ground up at The Aurora Highlands will have the opportunity to work hand in hand with professional design consultants to choose colors, textures, finishes and fixtures for their new living spaces — a complimentary service.
“In just a few months more than 160 people have held a spot on our priority reservation list,” said Carlo Ferreira, developer of The Aurora Highlands. “We are building a community with schools, recreation facilities, parks and retail. Nationally recognized home builders are investing in The Aurora Highlands, because they know what we know: Home buyers should not have to compromise where and how they live due to the scarcity of new product along the Front Range.”
The Aurora Highlands is working with several national and Colorado-based home builders to offer products for a spectrum of buyers. Planned in the community are attached homes starting in the low $300,000s and single-family detached homes ranging from around $300,000 to over $1 million.
To date, national builder Century Communities and Colorado-based Bridgewater Homes have contracted to purchase approximately 300 and 200 home sites, respectively. In addition, D.R. Horton is in the contract and design review stage for over 1,300 home sites at The Aurora Highlands. Discussions with several additional national and local builders are underway.
According to Metrostudy, nationally, the excess of housing demand over housing supply could continue for a good part of the decade. At a recent Colorado Front Range regional briefing, Metrostudy shared that there is a shift taking place with Denver metro’s master-planned communities. Between 40 and 50 communities are predicted to close out in the next five years. In 2020, more than 12 new communities are entering the market. Currently, The Aurora Highlands is the largest of the new master-planned communities in the region.
“The overwhelming interest from people in the community demonstrates the pent-up demand for new product in the region,” said Larry Canarelli, long-time Colorado builder and developer. “Richmond American Homes’ commitment to offer its nationally recognized product demonstrates that home builders, along with home buyers, are seeking quality master-planned communities that offer an opportunity to connect to community and to experience a lifestyle, not just a mailing address.”
In 1992, Canarelli began assembling the land for what is now The Aurora Highlands and has a track record of having helmed Arbor Homes and Oakwood Homes (since acquired by Clayton Homes), American West Homes (acquired by PulteGroup) and Hancock Communities (acquired by Meritage).
Experience The Aurora Highlands
The Aurora Highlands boasts 360-degree views of the Rocky Mountains, downtown Denver’s skyline and the Colorado plains with quick access to multiple transportation corridors, including Denver International Airport, E-470 and I-70.
A blend of nature’s most popular assets, the community offers more than 400 acres of land dedicated to parks, trails and open space. At nearly 100 acres, Highlands Creek Park will feature public art installations, performance plazas, climbing walls, a zip line, embankment slides, nature play, interpretive educational stations, a linear challenge course, kinetic sculpture garden and pollinator gardens, as well as creek side access.
The Water Park is in the design/build phase and will offer indoor water play structures and a slide, as well as an indoor pool with oversized glass panels that open the pool up to the Colorado outdoors on warmer days. A volleyball court, sun deck, playground, outdoor splash pad and field areas will be situated outdoors at the Water Park.
An additional community facility, the Ice and Recreation Center, is in the planning phase. A climbing wall, basketball court, hockey rink and other features are planned for this community amenity.
Recognizing the importance of providing for the educational needs of the community, the developer has planned for four new school sites located in The Aurora Highlands to anticipate and meet the student demand and parent expectations in this amenity-filled community.
North Highlands Market is a multi-use, multi-modal destination. Its mixed-use design will include retail, restaurant and office space, providing the urban lifestyle that the new generation of home buyers demand in the suburban setting. In addition, commercial space is also planned for medical campuses, industrial employment centers and a corporate campus.
The Information Center is now open at The Aurora Highlands, where interested home buyers can experience the community’s location and receive a map showing where phase one is situated, along with the entire development.
