This Week’s Denver Deal Sheet: Big Growth Planned For RidgeGate
RidgeGate in Lone Tree announced plans for big growth in 2025, with new residential, commercial and civic developments.
Shea Homes will expand the 700-acre Lyric at RidgeGate, a project that will eventually include 1,900 homes. Over 100 homes are already completed, and 275 move-ins are expected this year. The Reserve at Lone Tree, a 209-unit senior living community, is set to open in May 2025, while Century Living has commenced work on a 340-unit luxury apartment project scheduled to open in mid-2026.
RidgeGate's expansion also includes a 123K SF King Soopers-anchored retail center, expected to break ground this year pending city approval, and High Note Regional Park, an 80-acre public space featuring an amphitheater, athletic fields and a festival terrace. The first phase of the park is set for completion in 2027.
The community will include a new Douglas County School District elementary school, a second Colorado location for Living Spaces Furniture, and a new Lone Tree Justice Center and Public Works Operations facility. Meanwhile, the Colorado Department of Transportation will begin construction on a mobility hub at Sky Ridge Station to accommodate Bustang bus service.
RidgeGate is a 3,500-acre master-planned community by Coventry Development and currently houses 6,000 residents.
PEOPLE
Denver law firm Holland & Hart added Heather Park Meek as a partner. Park Meek, a real estate attorney, specializes in complex leasing transactions and asset management for retail, office, industrial and mixed-use projects. She was previously a shareholder at Otten Johnson Robinson Neff + Ragonetti PC and chaired its real estate transactions group.
CONSTRUCTION & DEVELOPMENT
Hyder Construction has completed renovations on Hotel Alpenrock in Breckenridge. The 221K SF project transformed the former DoubleTree at the base of Peak 9, upgrading 205 guest rooms, exterior finishes, lobby and critical building systems. The renovation also introduced a mountain view deck and enhanced amenities.
SALES
Chicago’s Echo Real Estate Capital acquired Rampart Medical Campus, a 71K SF medical office development in Denver's Lowry neighborhood. The two-building property, at 125 and 130 Rampart Way, is anchored by Colorado Allergy & Asthma Centers, U.S. Dermatology Partners and Denver Oral & Maxillofacial Surgery.
The campus is 45% leased, and Echo plans capital improvements, speculative suite construction and leasing. Healthcare Realty Trust sold the property, with CBRE representing the seller. Financing was provided by AGP Capital and Aspen Funds.
***
Denver-based 1614 Academy LLC purchased a 9,600 SF multitenant retail center at 1614 S. Academy Blvd. in Colorado Springs for $2.8M. The center is fully leased. Chris Katsaros and Jeffrey Hirschfeld of Denver-based Antonoff & Co. Brokerage represented the buyer, a Denver family.
***
Pinnacle Real Estate Advisors brokered the $1.25M sale of a 1K SF retail building at 472 N. Broadway in Denver. Corey Sandberg represented the seller, SCI – 472 Broadway LLC, an entity affiliated with Sharing Connexion, a nonprofit that supports other nonprofits with real estate strategy, acquisitions and dispositions.
