Construction halted on housing project

SUPERIOR – Boulder Creek Life and Home on Tuesday said it will suspend construction, sales and marketing efforts on Calmante, a residential housing project in Superior.

Project owner Calmante Residential Investments LLC based in Louisville requested the suspension due to ongoing and unresolved bank financing issues.

Boulder Creek, a Boulder-based home builder, will provide warranty services to homeowners and the Calmante homeowners association, as well as work with the project owner in the search for financing solutions to move the project forward.

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“We have already met with the homeowners and expressed our commitment to them and the community moving forward,´ said David Sinkey, Boulder Creek’s director of marketing. “This decision is not a reflection on the Calmante product or team, which we still believe in very much, it’s another example of the current economic challenges facing new home construction and the breakdown of the credit markets.”

Boulder Creek is building in five other Front Range communities.

Boulder Creek became involved in Calmante in 2009, and was contracted by Calmante Residential Investments to build out the luxury townhomes and oversee sales efforts. Over the last year, Boulder Creek sold all of the available homes at Calmante.

The Calmante community received the 2009 Bar Award from the Home Builders Association of Denver for the best Active Adult Home of the Year for the Cascade Model.

“Calmante will be completed; it’s just a question of how and when,” Sinkey said. “This action will have no impact on construction at any of our other communities, nor will it materially affect our financial position.”