Erie to annex land for large development
The land, at the corner of Colorado Highway 52 and Weld County Road 7, is owned by Section 4 Investors LLC, which is a limited liability corporation related to Community Development Group, the company that developed communities such as Erie Commons in Erie and Coal Creek Village in Lafayette.
Summerfield is several years from development, Community Development Group executive vice president Jon Lee said. According to documents filed with Erie, build-out will take place over 10 to 15 years.
The current plan is to build up to 2,200 units, without about half targeted to the “active adult” market and the remainder for families, Lee said. That equals more than 5,000 residents, according to the average residents-per-unit estimate used by the town.
There also will be a commercial component along Highway 52, Lee said.
Plans could be modified as Summerfield moves further along in the planning process. “It’s so dependent on what the market does, what demand is and what developer interest is,” Lee said.
Lee said Community Development will move the project through the planning and entitlement process, build backbone infrastructure and then work with homebuilders to plan lots. The company does not build homes, he said.