RESIDENTIAL INVESTMENT MANAGER RESMARK IS PARTNERING WITH MCSTAIN NEIGHBORHOODS TO DEVELOP ARRAS PARK IN THORNTON
- Transit-Oriented Development with 292 For Sale Single-Family Homes & Townhomes Among Parks & Commons Is Close to N-Line Commuter Rail
- Will Offer McStain’s Exclusive BeWell House℠
The Resmark Companies, a Los Angeles-based private equity real estate investment firm, is partnering with Denver-based McStain Neighborhoods to develop Arras Park, a 43-acre residential community at the corner of Steele Street and 104th Avenue in Thornton, CO. The Transit Oriented Development (TOD) will comprise 157 single-family detached homes and 135 single-family attached townhomes within walking distance of the Thornton Crossroads 104th Station of the N-Line Commuter Rail set to open in August 2020.
“With Arras Park’s plentiful green space, thoughtful site plan and home types for a variety of buyers, McStain Neighborhoods has created a future residential destination that’s unique in Thornton, and in most of the Denver Metro Area as well,” said Michael Zarola, Senior Vice President, Investments at The Resmark Companies. “The project is located just 12 miles from downtown Denver and is adjacent to the new Thornton Crossroads RTD station, highlighting McStain’s continued commitment to building sustainable, high performance neighborhoods through their BeWell House℠ program, and we are proud to partner with them on this investment.”
Arras Park will be Resmark’s first for-sale residential project in the North Denver area and its first in partnership with McStain Neighborhoods. Previously, the firm invested in the development of two North Denver-area multifamily projects with Lennar Multifamily Communities: Strata, located in Northeast Denver, and Sync 36 in Westminster.
“Resmark shares our belief that homebuyers are increasingly drawn towards well located, thoughtfully designed yet lower maintenance homes, and in many cases, preferring higher density areas for their access to public transit, services and retail,” said David Ware, President and Chief Executive Officer of McStain Neighborhoods. “It’s rewarding to partner with a firm that recognizes the value in creating communities like Arras Park,” he added.
The Arras Park master plan separates homes from streets with tree-lined lawns and provides garage access through alleyways. Residents will enjoy four uniquely themed community parks. Arras Park, the largest, is designed to be the heart of the neighborhood and will include a sunken amphitheater and shelter as a focal point. Paisley Park will be a more intimate space for special gatherings or recreation with a small open lawn surrounded by a ribbon of dense landscaping. A number of the homes will front on Ribbon Park, a linear park available for volleyball and other activities, and The Loop children’s playground will offer unique play structures. An integrated network of trails and pathways will connect the parks and the neighborhood and lead to the light rail.
In addition to the community’s own extensive common areas, Arras Park residents will have easy access to nearby hiking and biking trails and large parks such as the Grandview Ponds and Riverdale Open Space.
All Arras Park homes will be designed and built to McStain’s exclusive BeWell House℠ standards that qualify them as Zero Energy Ready by the Department of Energy, and Indoor AirPLUS certified by the EPA. According to the EPA, indoor air in the average home can contain 2 to 5 times more contaminants than the outside air. A BeWell Housesm by McStain is designed to circulate only the freshest air and be free of household pollutants commonly found in most homes. The materials used are all non-toxic and help block moisture, dust, pollen and pests, and a high capture filtration system removes particles associated with common respiratory problems. All homes are also built solar ready.
The single-family detached homes at Arras Park will be two stories with three to four bedrooms, 2- to 3-car garages, and unfinished basements ranging in square feet from 2,085 to 2,781. The two- and three-story townhomes will range from 1,424 to 1,989 square feet and will offer two to three bedrooms, outdoor living spaces, and a 2-car garage. Floor plans include a wide variety of standard and optional amenities, including fireplaces, private side courtyards and loft spaces. Both home types were designed with first-time and move-up buyers in mind.
Arras Park is planned to be developed in three phases with development of the first phase anticipated to begin in February 2020. Home construction is anticipated to start in late 2020. Sales are currently scheduled to commence in Spring 2021 in conjunction with model home completions. Home prices are expected to start from the high $300,000s.