RidgeGate Celebrated Several Milestones Last Year and Continues Development Progress in 2024
Shea Homes® Welcomes First Residents and New Builder Partners to Lyric™ Community
(Lone Tree, Colo.) – January 31, 2024 – The RidgeGate community in Lone Tree, Colorado, saw significant momentum with the completion of several major development milestones last year including welcoming the first new residents to the Lyric at RidgeGate™ community, the Talus affordable apartments, and AVRA Apartments on the east side. New infrastructure, public transportation, extensive parks and open space, retail space, and commercial and residential offerings are also 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, a walkable 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 2024 will be a transformative year.”
Lone Tree Residential Development Plans for 2024
Shea Homes® New Homes in Lone Tree:
The residential opportunities at RidgeGate are ramping up quickly — last year Shea Homes® began selling homes in Lyric at RidgeGate™, and they celebrated the grand opening of their new home collections for the Tribute, Storytellers, and Legends Collections giving people the opportunity to tour the various designs and model homes. To date, nearly a dozen residents have made Lyric™ their home with over 100 anticipated closings expected for this year. As the master homebuilder, Shea Homes® has partnered with several other homebuilders to offer a variety of new home collections including Infinity Properties, Lokal Homes and Thrive Home Builders most of which are slated to celebrate their model home openings this year. Together, they will build approximately 1,900 homes on 699 acres—just east of the RTD RidgeGate Station. The planned homes range from condos and townhomes to a variety of single-family detached homes, including two-story, ranch, cottage, and patio homes. Through thoughtful planning, design, and execution, they are creating architectural diversity in every neighborhood and on every block.
Shea Homes® Signs Agreement with Quantum Fiber
In addition, Shea Homes® 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, 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 one—all with unlimited data.
“We saw tremendous momentum last year as we celebrated the grand opening of our community and Shea’s three new home collections, this year, together with our select builder partners, we look forward to offering an even greater selection home styles and collections at Lyric™,” said Chetter Latcham, President of Shea Homes® Colorado. “We look forward to welcoming many more families to Lyric™ and seeing this creative and walkable community come to life.”
Senior Housing, Apartments, and New Parks
Several projects have also commenced construction or are scheduled for completion this year, including:
- A 204-unit luxury seniors community called the Reserve at Lone Tree, developed by Experience Senior Living Development (ESLD), a NexCore-owned company, will top out in 2024. It includes a nine-story building featuring 124 independent living units and a five-story building featuring 60 assisted living and 24 memory care units. Completion is anticipated by Q1 2025.
- Koelbel and Company completed Talus – a 67-unit CHFA-funded affordable apartments at RidgeGate Station. Project amenities include a fitness center, community room, and onsite leasing with units ranging from 30% to 80% AMI.
- Koelbel also received Lone Tree SIP and CHFA tax credit approval for another 100-unit affordable senior housing project in the RidgeGate Village Center and will kick-off construction in 2024.
- Additionally, the Regency Residential completed its first phase of 540 market rate apartments called AVRA at RidgeGate Station. 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 combined with embedded retail space.
- The Novus Sky Ridge Station Apartments was completed last year and is fully leased. This 240-unit apartment complex is 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.
- The City of Lone Tree and the South Suburban Parks and Recreation District finalized plans to commence construction of the first phase of the 80-acre High Note Regional Park in 2025.
- Located within steps of RTD’s RidgeGate Station, Larry L. Levin Park was completed last year and features a dog park, children’s play area, multi-purpose open lawn, a small plaza, a shade shelter, and an inspiring mural.
Tall Tales Ranch
- 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 mid-2024.
- Schweiger Ranch received a State Historical Fund grant for the completion of the interpretive sign design and was awarded another grant for the fabrication and installation of the signs. In December of 2023, hosted its annual Austrian Christmas Festival which attracted more than 3,500 people.
New Commercial Development
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 – a 150,000 square foot building. In early 2024, Great Divide Brewery & Roadhouse will open at the corner of Sky Ridge Avenue and Schwab Way in Lone Tree on the ground floor of the Charles Schwab building.
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 is expected to start construction in 2024.
“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.