A deal was completed on Tuesday, November 5th, that will double the size of Castle Pines. Shea Homes Colorado bought 1,270 acres in the The Canyons with a plan to build 2000 homes as well as offices, retail stores, and schools. The new residential area will feature “homes from a variety of builders”, according to the press release. Over the next four years, Shea Homes Colorado plans to invest $75,000,000 in the community.
By doubling in size, the City of Castle Pines plans to dedicate more than half of The Canyons to open spaces and park in hopes to create more of an outdoor and active lifestyle for the area. Additional to the homes, 49 acres have been allocated for public schools and 20 acres for civic uses.
According to the city’s leaders, this is a project that has been in the works since 2009 when the property was annexed into the city. “Shea Homes is known for collaborating with municipalities to deliver the types of communities and neighborhoods people value,” said Sam Bishop, director of community development for the City of Castle Pines. “We’re pleased to welcome Shea Homes to Castle Pines, and look forward to working with the company on this historic project.”
Shea Homes Colorado will also be working towards building the infrastructure for the new development as well. Hess Road along with Castle Pines Parkway will be extended to further support to new community. Work will begin this year with homes ready for move-in in 2018.
While the city of Castle Pines is welcoming the new project, there are mixed feeling when it comes to the residents. Some are worried that development will eat up the open spaces, while others are happy with the idea of growth. Brandon Lee, Real Estate agent with Douglas County Real Estate says that there will be advantages and disadvantages to the expansion. “Development always has it’s pros and cons. Cons being the increased traffic, overall congestion in and around town, the “californication” of beautiful open space. The Pros being exciting new homes, new parks and schools, and of course a large tax base for Castle Pines. The truth is, development is inevitable,” Lee said.
For more information, check out this press release by Shea Homes Colorado.