Editor’s note: This story has been updated to include additional information about the location of Landmark’s new community.
LOVELAND — McWhinney Real Estate Services Inc., the master developer of Loveland’s Centerra mixed-use project, has sold off 32 acres within the Lakes at Centerra district to homebuilder Landmark Homes LLC, which is planning 450 townhomes and condominiums at the site west of Houts Reservoir.
Construction is expected to begin this spring, according to a McWhinney news release.
Landmark’s 32 acres are comprised of three parcels, according a McWhinney spokeswoman. That includes roughly nine acres at 4200 Trapper Lake Drive last purchased for more than about 13 acres at 3450 Booth Falls Drive and just over nine acres at 3600 Mirror Lake Drive. The parcels last sold for a combined total of roughly $5 million, Larimer County property records show.
Landmark has already built about 200 homes in Centerra.
“Landmark has made a notable impact delivering thousands of attached homes in the northern Colorado market. We’ve always been a small hometown builder at heart and feel connected to the fast-evolving needs of the tight-knit community of Centerra,” Landmark CEO Jason Sherrill said in a prepared statement. “We’re excited to go back to our roots and introduce these product types to this market so we can deliver the highest-quality attached homes at economical pricing, opening the door to homeownership for an underserved segment of homebuyers with limited options in northern Colorado’s quickly growing market.”
Terms of the land sale were not disclosed, and additional details from the developers were not immediately provided.
“Landmark’s purchase represents and supports attainably priced homes in a premier master-planned community, and we’re proud to foster this opportunity. We feel strongly that the development of attached homes is more important today than ever before given the fast pace of rising home prices in the market and the evolving lifestyle demands of homeowners,” David Crowder, vice president of community development for McWhinney and general manager of Centerra, said in a statement. “This is also a significant milestone for Centerra, made possible through a long-term relationship with Landmark Homes and its continued dedication to growing our community in northern Colorado. Landmark Homes is a proven leader and respected local builder in this market.”