Forest City hosted the Central Park (formerly Stapleton) Development Meeting for local real estate professionals to provide an update on the next stages of development. Forest City launched the discussion with news that they will start building in the Northfield Mall area of Central Park (formerly Stapleton) in November. Forest City noted that they have been prepping the land in Northfield since November 2010. The new neighborhood will be called Conservatory Green.
The Conservatory Green will have similar density to the south side of Central Park (formerly Stapleton). Some of the streets in Conservatory Green will have curves, rather than the grid or linear roads like the older part of Central Park (formerly Stapleton). The neighborhoods will have walking paths and access to the Rocky Mountain Arsenal, Dicks Sporting Goods Arena, and the Northfield Mall. Forest City went on to say that there will be additional community gardens.
Conservatory Green will have a 45-acre park being developed at the same time construction starts on new homes. Forest City forecasts the park will be complete in the spring of 2014. Some of the other plans Forest City mentioned about Conservatory Green were a new town green and town center similar in size to the 29th Avenue Town Center. They plan to have a hardscape plaza, fountain, fire pit, and amphitheater.
According to Forest City, the real estate value in Central Park (formerly Stapleton) recently reached the $2.1 billion mark. There are over 5,000 homes in Central Park (formerly Stapleton) now. Over the last 10 years, Central Park (formerly Stapleton) has experienced 1,286 home sales of previously owned homes. This year there have been 400 home sales, which is approaching a 40 percent increase compared to last year. From January thru August 2012, home sales of previously owned homes are up 50% compared to last year. The average home price value is also up 3 percent since June.
New Home Design in Conservatory Green
The north neighborhoods were inspired by the prairie landscape in Northfield. The new homes being built in Conservatory green will consist of five architectural styles: 1) Prairie, 2) Foursquare, 3) Craftsman, 4) Farmhouse, and 5) Modern. Forest City is attempting to do some different compositions to have a unique feel on the diversity of homes. The color palette for the homes in Conservatory Green and the remainder of the neighborhood were inspired by the prairie landscape and flora in Northfield.
The home builders building new homes in the Conservatory Green neighborhood will be most of the same builders in Central Park (formerly Stapleton) today. The list of builders is: Infinity Home Collection, Parkwood Homes, Standard Pacific, New Town Builders, Wonderland Homes, KB Home, David Weekley Homes, and Boulder Creek. Boulder Creek is the newest addition to the family of builders in Central Park (formerly Stapleton). Boulder Creek will be building age targeted ranch homes for seniors.
Forest City was excited to announce some of the details on the new homes being built in the Conservatory Green neighborhood. Infinity Home Collection will be building the Haus collection, which will replace the current Pure models. The Infinity Haus will have a larger lot, and is in the $650,000 to $750,000 price range. They will also be building a model similar to the existing Lime model in Central Park North that will range from $500,000 to $550,000.
Parkwood homes will be building a few of their traditional homes like the south side of Central Park (formerly Stapleton), as well as luxury townhomes. Parkwood will have larger lot sizes, similar to the size of Infinity’s lot, side driveway lots, and row gardens in the backyard. Single-family homes will range from $550,000 to $650,000. The luxury townhomes will start in the low $400s.
Forest City explained that builders Standard Pacific and New Town Builders will be doing similar homes that are currently in Central Park North, Central Park West, and Bluff Lake. New Town Builders plans to continue building sustainable homes, and may continue with their zero energy homes.
David Weekley Homes will be doing similar models that are currently in the Central Park West neighborhood of Central Park (formerly Stapleton). David Weekley is going to start building paired homes in the Conservatory Green neighborhood, which is a new venture for David Weekley in Central Park (formerly Stapleton). David Weekley will do paired homes, and single families on the same block, which is also a new concept in Central Park (formerly Stapleton).
Wonderland Homes will continue to do the courtyard traditions and innovations and models. Some new home design will accompany some of their existing homes as well. The Edge will come to the northside of Central Park (formerly Stapleton) and Conservatory Green with some updates. KB Home will start building courtyard homes, entry-level homes, with home garden boxes. Boulder Creek will do ranch style plans only with finished basements. Boulder Creek homes are geared towards grandparents and seniors.