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$300M Development Gets Underway

ARVADA, CO-Construction of 937 single-family, multifamily and loft residential projects is expected to spur further commercial development in an area behind the Interlocken Business Center, which could use a jump-start.

By John Rebchook | Updated on February 26, 2002

ARVADA, CO-Village Homes, the largest locally-based, privately owned homebuilder, has broken ground on the $300-million-plus, mixed-use development called the Village of Five Parks in this city northwest of Denver. A total of 26 of the 242 acres bordered by West 86th Avenue and Alkire and Indiana streets will be used for the commercial project.

The commercial land is zoned for 280,000 sf of space. As the 937 housing units — single-family homes, apartments and lofts – are built, the commercial land will become more enticing, John Osborn, president of Village Homes tells GlobeSt.com.

The land could be the setting for a neighborhood shopping center anchored by a grocery store. The closest grocery stores are now three or four miles away from the Village of Five Parks, the largest housing community under construction in Arvada.

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