Avison Young brokers sale of 10.37 acre site in Highlands Ranch, CO23 Dec 2019
Land sells in prime Highlands Ranch neighborhood location
Denver, CO - Avison Young, the world's fastest-growing commercial real estate services firm, announced today that it has negotiated the sale of 10.37 acres of vacant land in Denver's well-established Highlands Ranch suburb on behalf of the Diocese of Colorado Springs.
Avison Young Principal Rick Egitto, CCIM, and Sam Crowe, an Associate, based in Avison Young's Denver office, represented the seller, the Diocese of Colorado Springs, in the sale of this parcel located immediately east of Pax Christi Catholic Church and immediately north of Rock Canyon High School along McArthur Ranch Road in unincorporated Douglas County.
Greenwood Village-based United Development Companies, LLC (â€œUDCâ€) worked with the Diocese for more than two years to rezone the property from agricultural to planned development and receive plat approval of a residential development that met the requirements of the UDC, Douglas County, and local residents. The final plan design includes 54 residential alley loaded homes, approximately 35 percent open space that includes a central community park and trails.
"This was a rare opportunity to acquire one of the few remaining land parcels in Highlands Ranch, said UDC managing principal, Dan Sheldon. â€œWe selected Taylor Morrison, a well-respected, national, publicly-traded homebuilder as our builder partner. Taylor Morrison, in conjunction with the National Wildlife Federation and the Butterfly Pavilion, will create a prime butterfly habitat throughout the park with the use of flowering shrubs and perennials, wildflowers, and critical habitat plants".
Land development is slated to start in January 2020, with homes being delivered in early 2021. Bobby Kline of Miller Real Estate Investments represented United Development Companies in the transaction.
Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm's experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Avison Young is a 2019 winner of Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for eight consecutive years.