ERIE — Southern Land Co., a Tennessee-based real estate developer, broke ground last week on Westerly, the company’s latest residential project in Erie.
Westerly, located on 400 acres at Erie Parkway and Weld County Road 5, will have about 1,200 homes at buildout and is expected to be valued at roughly $750 million.
The project is planned to include a 35,000-square-foot “town square” element with retail and dining.
“Erie is known as an excellent place to raise a family and offers great quality of life, and Westerly is designed to be a complementary addition to this,” Heidi Majerik, vice president and general manager of Westerly, said in a prepared statement. “We are committed to creating an intentional, beautiful place that encourages togetherness and active lifestyles. We are confident that Westerly will be a community of which homeowners and Erie as a whole can be proud.”
Southern Land Co. has been active in the Boulder Valley market of late, selling off the residential portion of its mixed-use development The Reve in Boulder last month for $151.25 million.
The company has also developed several apartment projects in Denver over the past few years.
“We intentionally search the country for markets that demonstrate a commitment to good planning, prioritization of active lifestyles, and an appreciation for great aesthetics, and Denver easily fits the bill,” SLC chief operating officer Brian Sewell said in a statement. “We are not in the business of delivering a commodity. We hold ourselves and our communities to high standards, and the Denver market has proven to be discerning about who they welcome into the area for growth. We are grateful to be able to provide unique housing solutions and beautiful communities to the Denver market.”