Parker’s first large-scale, fully integrated master-planned community will begin to take shape with the $41 million sale of Hess Ranch.
JEN Colorado, an affiliate of New York-based JEN Partners, acquired the 1,333-acre tract of land between Parker Road and Rueter-Hess Reservoir. Current zoning allows for some 2,489 residential units and 1.25 million square feet of commercial development, along with 300-plus acres of parks and open space.
The land represents the southern half of what once was Stroh Ranch. Stroh Ranch Development sold the property, which will comprise one of the largest projects in Northern Douglas County. Infrastructure work is expected to get underway in the near future.
Residential development will occur first, with commercial development, including employment centers, to follow.
Stew Mosko
“The greater Denver market is coming into focus for large master-planned community developments,” said Stew Mosko of Cushman & Wakefield, who represented the seller in the transaction. “The existing stock of housing opportunities is struggling to keep pace with growth, thereby proving ample demand for thoughtful new residential communities. JEN Colorado will be able to fill a space our market desperately needs.”
The project will include 11 acres designated for schools within the Douglas County School District. The school site will be connected to a large, 10-acre park by an extensive open space network with trails and unique water drainage features. The drainage features are designed to help reduce the aquifers for future residents. In addition, the corridors allow wildlife to move through the site.
Every planning area, except for the commercial/mixed-use parcels, abuts open space. Each open space parcel will be dedicated to the town of Parker at the time of development and will remain open space for the life of the development.
“Hess Ranch has been well thought out from both a use and phasing perspective,” said Mosko. “This pristine land is well suited for development with sweeping views of the mountains, good schools and great access.”
THK Associates served as the lead planner for Hess Ranch.
