We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Henry Walker is prepping the nine-acre site now. Tom Zieske, president and partner of Henry Walker’s Colorado division in Westminster, said development work on the sewer and water systems should begin any day.
The company is hoping to break ground on the first buildings by the end of March or early April, with complete build-out of the neighborhood expected to take two years. The final platting still has to be finalized and recorded by the city, which could up the development to 112 homes.
Zieske said the buildings will range in size from two to eight units. Three floor plans are available, with each home featuring a two-car garage and ranging in size from 1,000 to 1,700 finished square feet in addition to unfinished basements. Zieske said prices haven’t yet been set but should range from $220,000 to the $250,000.
The development is adjacent to the east side of Silver Creek High School’s parking lot and in fairly close proximity to Altona Middle School and Eagle Crest Elementary, which was a big draw for Henry Walker. Zieske said the quick access to the Diagonal Highway and Boulder makes sense for commuters as well, and said he believes townhomes will fare well with detached single-family home prices rising in the area.
“We think there’s going to be this gap left behind for people that still want to be in their own home at a price that won’t be as readily available in the Boulder County area,” Zieske said.
Zieske said Henry Walker will build a combination of spec homes and presales at the site.
Three spec homes and a model home are already underway, meanwhile, at Henry Walker’s Sienna Park neighborhood in south Longmont, at the southwest corner of S. Sherman St. and Kansas Ave. The 11-acre parcel was formerly a Capital Pacific development, and Henry Walker bought the bank-owned property last year.
Sienna Park is slated to include 41 single-family homes along with 110 townhomes. Homes there will range in size from 1,100 square feet to 2,200 square feet not counting unfinished basements.
Henry Walker’s first action in Longmont began last year with the purchase of 46 lots in the Yeager Farm neighborhood near 15th and Francis streets from Boulder builder Markel Homes. Zieske said there are about 21 lots remaining in the first filing of that neighborhood. He said Henry Walker is also under contract to purchase the second filing from Markel, which includes another 33 lots. Yeager Farm is all single-family homes.
“With those three projects, we feel pretty good about being in Longmont,´ said Zieske, whose company’s also advertises Colorado neighborhoods in Firestone, Dacono and Windsor.