SOURCE: The True Life Companies

The True Life Companies

November 06, 2014 10:07 ET

The True Life Companies Acquires 204 Acres Planned for Residential Development in Thornton, Co.

DENVER, CO--(Marketwired - Nov 6, 2014) - Expanding its presence in the Colorado real estate market, The True Life Companies (TTLC) recently closed escrow on 204 acres in Thornton, CO, a highly desirable suburb of Denver. The property is located at the northwest corner of 144th Avenue and Holly Street and is proposed as a master-planned community that will include 497 single-family homes.

"This is an exceptional opportunity for The True Life Companies," said Brock Chapman, TTLC's Managing Director for the Rocky Mountain Region. "The community, named Willow Bend, is planned to offer a variety of lot sizes and home prices to meet rising demand in the region. The location supports a diverse employment base which includes a broad range of industries, from energy exploration companies, and technology and communications firms, to hospital and health care companies -- all within a reasonable commute."

Amenities in the planned community include an activated 8-acre park with a playground, soccer field, a covered group gathering area, a natural park covering 10 acres, abundant open space, a trail system and an elementary school site. Residents will also enjoy convenient access to regional transportation corridors, including E470 and I-25. In addition, the City of Thornton plans a 45-acre regional public park and baseball / soccer field complex adjacent to the northwest edge of the property. This new regional park and ball field complex will be accessible from the Willow Bend neighborhood via walking and bike trails and public roadways.

"With the conceptual site plan recently approved, project entitlements are nearly complete. We will be completing the final plat and project improvement plans within the next six months. The property will then be in a shovel-ready state for top public and private homebuilders who desire a strong presence in this key residential submarket," continued Chapman. A veteran of the residential development industry, Chapman manages the company's Colorado activities from TTLC's regional office located in Greenwood Village.

"As planned we are building a selected land portfolio in the Denver-metro market. Our focus is to pursue residential land opportunities that fulfill the short and medium term needs of the homebuilders in the area, while meeting our overall strategic goals in the region and the Western United States," observed Taber Anderson, Chief Investment Officer of TTLC. "Average home prices in the Thornton submarket have increased approximately 10 percent annually over the past two years. There is a highly constrained supply of entitled shovel-ready land, for housing in the Denver market, especially for production builders. We are confident this property will be an important step toward fulfilling the growing housing demand for the area."

As a major supplier of lots and land to America's top home builders, TTLC has projects in various stages of development throughout the US. Headquartered in San Ramon, CA., the company maintains regional offices in Sacramento, CA; Phoenix, AZ; Denver, CO; and Newport Beach, CA. For more information regarding TTLC's land acquisition or recreational master-plan portfolio visit www.TheTrueLifeCompanies.com.

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