RidgeGate in Lone Tree Experiencing Major Development Momentum and Anticipates Significant Progress in 2023
New Parks, Commercial and Residential Projects Moving Forward as People Prioritize Home, Work and Lifestyle Amenities
(Lone Tree, Colo.) – March 9, 2023 – The RidgeGate community in Lone Tree, Colorado, saw significant momentum with the completion of several major development milestones last year and expects to see progress on the east side in the year ahead. New infrastructure, public transportation, extensive parks and open space, retail space, commercial and residential offerings are taking shape to further expand this complete community where people can live, work and play.
“RidgeGate was designed with the goal of helping companies and people thrive, and each year we deliver on the promise of creating a community with lifestyle amenities, connection to work and nature, and diverse residential offerings,” said Keith Simon, Executive Vice President and Director of Development for Coventry Development Corporation, the master developer for RidgeGate. “We are excited for the next chapter at RidgeGate and believe 2023 will be a transformative year.”
The residential opportunities at RidgeGate are continuing to grow — last year Shea Homes began developing the first phase of Lyric at RidgeGate, named for its poetic approach to Colorado living. Phase 1 comprises 185 acres and 430 homes, and is well on its way to becoming a highly anticipated new neighborhood on the east side. As the master homebuilder, Shea Homes, and other select homebuilders, will build approximately 1,900 homes just east of the RTD RidgeGate Station–with their Phase 1 model homes and sales anticipated to begin mid 2023 and first residents occupying homes before the end of 2023. This year they will also begin site work on Phase 2 – which Shea Homes acquired in late January. Shea signed an agreement with Quantum Fiber, a Lumen Technologies brand, to construct a state-of-the-art all fiber broadband network. With the Quantum Fiber network in Lyric residents will experience the benefits of high-performance, reliable connectivity, including enhanced Wi-Fi, as a standard home amenity to work from home, take online classes, or connect with friends and loved ones—all with unlimited data.
“We are grateful to have a strong partnership with RidgeGate as Lone Tree continues to grow on the east side of our City,” said Jackie Millet, Mayor, City of Lone Tree. “RidgeGate is committed to ensuring that this growth is sustainable, thoughtful, and enhances the quality of life for Lone Tree residents and visitors. We value the expertise and collaboration of RidgeGate as we work to create a vibrant and thriving community for generations to come.”
Several East Side projects have also commenced construction or are scheduled for completion this year, including:
- A 200 unit luxury seniors community called The Reserve at Lone Tree, being developed by Experience Senior Living Development (ESLD), a NexCore-owned company, broke ground at the end of 2022. The Reserve at Lone Tree will consist of a nine-story building featuring 124 independent living units and a five-story building featuring 60 assisted living and 24 memory care units.
- Koelbel and Company completed Talus- a 67 unit CHFA-funded affordable apartments at RidgeGate Station. The first residents began moving in at the end of 2022 and the building is expected to be full by the end of March. Project amenities include a fitness center, community room, and onsite leasing with units ranging from 30% to 80% AMI.
- Koelbel also received tax credit approval for another 100-unit affordable senior housing project to begin construction in 2023 at the RidgeGate Parkway Couplet District pending city approval.
- Additionally, the Regency Residential Apartments at RidgeGate Station made progress with its first phase of 540 market rate apartments and embedded retail space scheduled for completion in mid 2023. As one of the first RidgeGate development projects on the east side of I-25, this project will create a mixed-use, transit-oriented community that provides well-designed interior living spaces and high-quality outdoor spaces.
- Kroger has recently approved plans to build a 123,000 square foot King Soopers store and Fuel Center at the RidgeGate Parkway Couplet District, along with 30,000 square feet of shop space. Expected completion date is 2025 pending city approval.
- The City of Lone Tree and the South Suburban Parks and Recreation District completed the master planning of the 80 acre Lone Tree Regional Park. Construction is hoped to begin within the next few years subject to funding.
- Tall Tales Ranch, a 30-unit residential village for people with Intellectual and Developmental Disabilities (IDD) to be located adjacent to Schweiger Ranch, has already been approved by the City of Lone Tree and is expected to begin its first phase of construction in late 2023 or early 2024.
- Schweiger Ranch received a State Historical Fund grant for the completion of the interpretive sign design and will be seeking another grant for the fabrication and installation of the signs. In December of 2022, it had over 3,500 attendees at its annual Austrian Christmas Festival.
On RidgeGate’s west side, numerous large-scale corporate campus projects recently reached completion. Charles Schwab’s mixed-use retail, conference center and parking building is now complete and Kiewit’s New Regional Campus opened last year with the completion of their second building – an 150,000 square foot building.
Construction was completed at the end of 2022 on the Novus Sky Ridge Station Apartments, a new 240-unit apartment complex situated on the last parcel of land at the Sky Ridge Station transit-oriented development (TOD) site. The seven-story apartment complex, which includes two levels of parking, is adjacent to several large employers in the area including the Sky Ridge Medical Center, Charles Schwab and Kiewit’s regional headquarters.
Living Spaces announced their first Colorado location on the final large retail site on the West Side at RidgeGate Commons (near Cabela’s and Sierra Restaurant) and will start construction in early 2023.
“RidgeGate is a prime example of a mixed-used community that has been successfully attracting large corporate campuses looking to be embedded in a desirable walkable and diverse community in order to enhance their employee retention and recruitment,” said Simon.