Caliber continues to forge ahead with its plans to develop The Ridge Johnstown, a master-planned community in the heart of Colorado. The Scottsdale-based private equity real estate investment firm this month announced several deals that will further its vision of transforming the prime parcel of undeveloped land in the Front Range of Colorado between Denver and Loveland. Located at the intersection of I-25 and Freedom Parkway (Hwy Road 402), the community will include single-family and multi-family housing, retail and industrial space. Here are some of the latest updates on the project:
The Ridge Johnstown Updates
- Caliber secured DR Horton—the largest homebuilder in the country—along with Aspen View Homes and Bridgewater Homes, to build single-family residences in the area.
- Denver-based homebuilder Oakwood Homes purchased 23 acres of Caliber’s land for $4.02 million to build an additional 400 homes as part of its Thompson River Ranch development.
- The company intends to purchase an additional 210 acres in Johnstown, which according to Chief Development Officer Roy Bade, will render Caliber the largest developer with active projects in the area.
- United Properties expressed interest in constructing industrial, multi-family and retail spaces, including a coffee shop and convenience store, in the The Ridge II development to the north.
- QuikTrip also expressed interest in 1.7 acres for construction of a gas station.
- Caliber has slated 13 acres of land for medical/office buildings and has designed a 95,000 square-foot medical surgery center, with the intent to lease the space.
- The company is also conducting several negotiations on additional spaces—including apartment complexes, a hockey rink, a pediatric medical center, and “car condo” storage centers—and recently donated 2.7 acres of land to the community fire department for construction of a new station.
“Our portfolio in Northern Colorado and on the Front Range is growing,” Bade says. “We bought this project because of the significant value it presented. Colorado is a great market overall and there is a big push to further develop Northern Colorado. Pair that with ideal location off of the I-25 freeway and you have what we believe to be an excellent return on investment for these projects.”
Contact us to learn more about The Ridge Johnstown and other investment opportunities.