With the unprecedented growth in the Denver metro area over the past couple years, it was only a matter of time before home prices in the Mile High City jumped over the $500,000 mark. According to
New Planned Community Proposed East Of Aurora
As housing inventory levels continue to drop in Denver, a 5,144-acre master-planned community has just been proposed in unincorporated Arapahoe County, bordering the eastern edge of Aurora south of I-70.
The community, currently named "Prosper", is expected to eventually include nearly 9,000 residences and 8 million square feet of commercial space.
Currently there are no plans to incorporate Prosper, so it would not legally be a town. Instead, it would remain an "unincorporated mixed-use community" located completely within the boundaries of Arapahoe County.
Plans for Prosper go before the Arapahoe County Planning Commission later this month, but more meetings may be needed before a decision is made on whether or not to go forward with the development. The area is currently vacant and farm land, and Prosper Farm intends to leave 750 acres around its perimeter as farmland and prairie reserve.
Prosper would be funded through a combination of private equity provided by Prosper Farms and with bonds issued by a collection of eight metro districts that would be established for a variety of purposes.
Plans for Prosper go before the Arapahoe County Planning Commission on Dec. 16, but the commission may want to hold more meetings before making a determination. If another meeting is requested, it will be held Jan. 6. If the planning commission is given a favorable recommendation by the planning commission the Arapahoe County Board of County Commissioners must still approve the project for it to go forward.
Ken Blevins, Chief Executive Officer of Metrowest Real Estate Services, is a veteran in mortgage and default servicing with more than 23 years of experience in collections, foreclosure/bankruptcy, los....
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