Southern Land Co. Breaks Ground on $750M Colorado Project
- Apr 06, 2021
Southern Land Co. has begun construction on its first master-planned residential community in Colorado.
The developer will construct more than 1,200 single-family and multifamily homes on a 400-acre site in Erie, Colo. SLC originally purchased the land for its Westerly project in 2017 and has since tapped PCS Group Inc. as the land planner and landscape architect and Matrix Design Group as the engineer of record.
The homes will be built with front porches and rear-load garages in a neighborhood setting that will have landscaped streets and open green spaces. The $750 million project will also feature more than 100 acres of undeveloped open spaces as well as a 35,000-square-foot town center that will include restaurants and retail spaces. SLC will also construct amenities throughout the neighborhood including a pool, great lawn, 5,000-square-foot indoor community gathering space and fitness center, and play areas.
INVESTING IN THE TOWN OF ERIE
Alongside constructing the neighborhood, SLC is planning to invest more than $140 million in infrastructure improvements for the Town of Erie. Heidi Majerik, vice president & general manager of Westerly, said in prepared remarks that the Town of Erie provided thoughtful input for the project throughout the planning and development stages.
The developer will improve the two roads that Westerly is located on, County Road 5 and Erie Parkway, and will fund improvements to the nearby County Road 7. SLC will also provide 10 acres and $3 million to the town to create a new neighborhood park and will donate 15 acres to St. Vrain Valley School District for a planned middle school.
Westerly will be SLC’s first master-planned residential community in Colorado, but the developer has worked on several multifamily projects in the state. SLC first entered the Denver market in September 2017 with Centric LoHi, its 302-unit mixed-use community that was later sold. Last month, the company also sold Reve Boulder, a 242-unit mixed-use community in Boulder, Colo., for $151.3 million. SLC is also working on a similar neighborhood-style project in Franklin, Tenn., called Westhaven that totals 3,500 homes.