Real Estate & Construction  March 30, 2022

RE Summit: Developers share spirit of collaboration

LOVELAND — Home builders are finding new ways to work together on developments along Colorado’s Front Range. Representatives from Hartford Homes, Landmark Homes and Richmond American Homes gathered at BizWest’s Northern Colorado Real Estate Summit Wednesday to speak on challenges and successes in the industry.

Tyler James, broker associate at Re/Max LLC moderated the Lot Wars panel. Owner and CEO of Hartford Homes Landon Hoover referenced the panel name when discussing collaboration between different developers.

“It’s not a war between us; it’s the exact opposite,” Hoover said.

Different construction companies in the region specialize in different construction styles, from master planned developments to condos and townhomes. Jason Sherrill, owner and CEO of Landmark Homes, shared a spirit of cooperation with other developers.

“There’s just naturally a landscape for cooperation with other builders,” Sherrill said.

While some developers can be happy to collaborate with each other, some feel local cities have constrained new developments. Whether limits on development are intentional, like in Boulder, or unintentionally caused by processing delays, new housing can end up delayed, contributing to an already tight market.

Jason Pock, vice president of land acquisition at Richmond American Homes, shared his frustrations about development processes increasing in complexity.

“The climate for new construction is awful. There’s just no support for it anywhere,” Pock said. 

Pock pointed to increasing land and water costs as sources of difficulty around the region.

“Your question was, where is the problem? The problem is everywhere,” Pock said.

Pock did also point out that not every community on the Front Range faces the same issues. Loveland could be home to more than eight new housing developments in the coming years, and Landon Hoover is optimistic about Johnstown,which invited developers to provide the town with feedback on the development process. 

“You’re gonna see Johnstown be one of the fastest growing municipalities,” Hoover said. 

Jason Pock pointed to policies surrounding metro districts and water allocation as areas to watch in order to predict future development.

“If you want to find out where growth is going, it would be water policy and metro district policy,” Pock said. 

While some cities provide a welcoming environment for new development, all three panel members felt metropolitan districts are a necessity in today’s market. Jason Sherrill pointed to covering the costs of infrastructure and utilities in new neighborhoods as a driver of increased metro district use.

“I wouldn’t say that municipalities are forcing [metro districts], but the market is,” Sherrill said.

The controversial districts charge mill levies to homeowners within certain neighborhoods in exchange for certain amenities and infrastructure. 

“Without it, all we can do is charge more for the homes,” Pock said.

Development will continue along the Front Range, and builders are breaking into new markets to build new homes where they can make a profit. Said Sherrill: “There’s not a lot of people here trying to develop in Nunn, yet.”

LOVELAND — Home builders are finding new ways to work together on developments along Colorado’s Front Range. Representatives from Hartford Homes, Landmark Homes and Richmond American Homes gathered at BizWest’s Northern Colorado Real Estate Summit Wednesday to speak on challenges and successes in the industry.

Tyler James, broker associate at Re/Max LLC moderated the Lot Wars panel. Owner and CEO of Hartford Homes Landon Hoover referenced the panel name when discussing collaboration between different developers.

“It’s not a war between us; it’s the exact opposite,” Hoover said.

Different construction companies in the region specialize in different construction styles, from master planned developments to…

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