Patio homes planned
Harvard Communities plans to build seven patio homes at East Fourth Avenue and Syracuse Street, south of the City of Ulaanbaatar Park to be constructed this year. Parkside and Lowry Town Center will offer luxury homes within walking distance of restaurants and shops. They will range from 3,100 to 3,300 square feet, with prices starting in the $800,000s.
Work begins on Wheatlands homes
Alberta Development Partners LLC has started construction on the first phase of Wheatlands, a 407-acre residential development adjacent to its Southlands retail development at E-470 and East Smoky Hill Road. The homes will be built by TriMark, D.R. Horton and Richmond American Homes.
When fully developed, Wheatlands will have an estimated 1,441 multi- and single-family homes, with an estimated value of $360 million. Wheatlands is part of the more than 13,000 acres of land under residential development in southeast Aurora.
Coventry Development wins award
Coventry Development has received the Home Builders Association of Metro Denver’s first “storm water compliance award” for its commitment to excellence and environmental stewardship on its RidgeGate project. The award recognizes the project’s commitment to managing storm-water runoff during construction of major infrastructure and development of residential and commercial components. RidgeGate is a 3,500-acre master-planned community in Lone Tree.
Mortgage rates at highest level since December
Mortgage rates across the country went up last week, with rates on 30-year mortgages climbing to their highest point since late December. Freddie Mac, in its weekly survey released Thursday, reported that rates on 30-year, fixed-rate mortgages rose to 6.23 percent, up from 6.12 percent for the week ending Jan. 26. Below are average mortgage rates in Denver, Adams and Arapahoe counties as of Thursday and the previous 52 weeks. The one-year Treasury bill average reported by the Federal Reserve Bank is 4.50 percent. The Cost of Funds Index for December from the Federal Home Loan Bank (11th District) was 3.296 percent.
