Richmond American Homes Plans to Acquire 1,000 Homesites at The Aurora Highlands

Jan 22, 2020

Aurora, Colo. — Jan. 22, 2020 — Richmond American Homes of Colorado Inc., a subsidiary of M.D.C. Holdings Inc. (NYSE: MDC), plans to purchase 1,000 homesites at The Aurora Highlands, one of the largest mixed-use master-planned communities in the region.

Richmond American Homes is the first homebuilder 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 their first phase of homesites this spring. Select homesites 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 sought-after 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.

More than 160 interested individuals and families have signed up to hold a spot on The Aurora Highlands’ priority reservation list, which was offered to the public in fall 2019, to ensure that they will be among the first to have an opportunity to buy when homesites are released.

“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 homebuilders are investing in The Aurora Highlands, because they know what we know: Homebuyers 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 homebuilders 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 homesites, respectively. In addition, D.R. Horton is in the contract and design review stage for over 1,300 homesites at The Aurora Highlands. Discussions with several additional national and local builders are underway.

According to Metrostudy, a real estate data firm focused on new construction, 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 homebuilders, along with homebuyers, 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 proven track record for success. He 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 multiuse, multimodal destination. Its mixed-use design will include retail, restaurant and office space, providing the urban lifestyle that the new generation of homebuyers demand in the suburban setting. In addition, commercial space is also planned for medical campuses, industrial employment centers and a corporate campus.

Technology That Delivers Convenience in a High-Demand Market

Based on the current residential market, buyers and real estate agents are demanding timely and accurate information about available new homes. The Aurora Highlands app is available to real estate agents to simplify the experience for agents interested in the community.

The app will refresh in real time to show which homesites and inventory homes are available and what design concepts are offered at The Aurora Highlands. While maintaining the traditional buyer/agency relationship, real estate agents who register clients through the app will also receive a full co-op commission.

Every quarter, The Aurora Highlands hosts “Thursdays Are Happy,” a happy hour for regional Realtors that offers updated details on the community and its builders. The next event is planned for Thursday, Jan. 23, 2020, from 4:30 to 7:30 p.m. at Gaylord Rockies Resort, Mountain Pass Sports Bar Upper Level. Complimentary drinks and appetizers are offered to guests.

About The Aurora Highlands

The Information Center is now open at The Aurora Highlands, where interested homebuyers can experience the community’s location and receive a map showing where phase one is situated, along with the entire development. Visit the Information Center at 3900 E. 470 Ave., Aurora, CO, 80019. For more information about The Aurora Highlands, go to www.theaurorahighlands.com or call the Information Center at 720-372-1710. Aurora Highlands LLC is developing the community.