Parker’s Hess Ranch Development, Begins with $41M Sale
DENVER – The development of Parker’s first large-scale, fully integrated master-planned community has begun with the $41 million sale of Hess Ranch.
Stroh Ranch Development sold Hess Ranch to JEN Colorado, an affiliate of New York-based JEN Partners.
Stew Mosko of Cushman & Wakefield represented Stroh Ranch Development in selling the 1,133-acre parcel of land between Parker Road and Rueter-Hess Reservoir .
“The greater Denver market is coming into focus for large master planned community developments,” said Mosko. “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 current zoning allows for over 2,489 residential units, 1.25 million square feet of commercial development and 300+ acres of parks and open space. The property will largely be for housing initially with commercial components, including employment centers, coming later.
The project will include 11 acres designated for schools via 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. These drainage features have been designed to help reduce the aquifers for future residents. In addition, these corridors allow wildlife to move freely throughout 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, a landscape architecture, planning, market research and urban design firm., has been the lead planner for Hess Ranch.