New builder unveils Golden, Five Points homes

New builder unveils Golden, Five Points homes

June 26, 2014

A Golden company that has built or developed about 1,000 luxury apartment units in the Denver metro area has launched a sister company that will build energy-efficient, for-sale homes on infill sites in Denver and walkable communities in the suburbs.

Clear Creek Homes, created by the founders of Confluence Companies, a full-service commercial real estate construction and development firm, this summer will start construction on its first two communities.

The first is the eight-unit 8th Street Residences townhomes in Golden.

The other, not yet named, will be a 26-unit townhome community in Denver’s Five Points.

Clear Creek Homes and Confluence Companies are owned by Tim Walsh, Matt McBride and Tony DeSimone.

Cut his teeth at Toll Brothers

Before helping to found Confluence in 2006, DeSimone was a senior manager at Toll Brothers, where he managed more than $325 million in luxury homes in enclaves such as Castle Pines Village, Ridgegate in Lone Tree and Solterra in Lakewood.

Building urban-style, infill townhomes may seem the antithesis of constructing big single-family, detached homes in upscale suburban subdivisions, but they are not as far apart as they might seem, according to DeSimone.

“When you buy a Toll Brothers’ home you are having a luxury experience,” said DeSimone, a West Point graduate with an undergraduate degree in mathematics and a master’s degree in engineering management and is a licensed Built Green certified general contractor.

“Even in our apartments you have the same level of finishes and services so you are having a true concierge experience,” he said. “We are going to bring that same level of services and high-end finishes to our townhomes.”

Sales for the Golden townhomes will begin this month, with the first units expected to be completed by next summer.

“We already have an interest list of 30 people,” DeSimone said.

“We’ve had people offer us money for down payments before they even knew what the price was,” he said.

The units are priced from the low $500,000 and range in size from 1,660 square feet to 1,880 square feet. Prices for the homes, which range from 1,660 to 1,880 square feet, start in the low $500,000s.

Units in at 2400 Washington St. in Five Points will be from about 1,200 square feet to 1,600 square feet in size and priced from the high $300,000s.

Both of the developments will be designed by Craine Architecture, which also has designed some of their apartment developments.

“The Five Points project is just down the street from the Rossonian Hotel, which is being redeveloped,” DeSimone said.

Housing Shortage

DeSimone said now is a great time to be buildings homes in the metro area.

“This market is really constrained as far as supply,” he said. “A normal, healthy market that is balance has about a six-months supply of unsold homes, while this market has about a two-month supply of available homes.”

No where is that more true than in Golden, which has a moratorium that limits new construction to 1 percent of the existing housing stock each years.

“There’s almost no new product in Golden,” he said. “There’s a lot of demand and almost no supply.”

Indeed, when it opened its West 8th Street apartment community in Golden, most of the rental units were leased before they opened, he said.

With its for-sale product, Clear Creek will offer a number of options such as choices in appliances, floors and kitchen cabinets, at time for no extra charge.

“We’re very easy to work with,” DeSimone said. “And our homes are going to come with a high basic level of finish. We are not going to be like some builders that offer you a base package and everything is an upgrade.”

Green building

All of their for-sale developments also will be very green.

In Golden, for example, each home will be equipped with a 4 kilowatt solar panel that will more than offset all electrical use.

It’s the equivalent of planting 1,100 trees or reducing miles driven by 53,000 per year.

It is anticipated that each house built by Clear Creek Homes will consume at least 33 percent less energy than a typical home of its size. Homes will exceed building standards for energy efficiency, water conservation and the use of recyclable materials to minimize the impact on the environment. Bike storage will be built into each garage and electric charging stations will be an upgrade option.

“The City of Golden is committed to supporting builders that strive to deliver sustainable, green homes, that are in tune with Golden’s values,” said Rick Muriby, Golden’s planning manager.

“Clear Creek Homes has far exceeded the City of Golden’s sustainability menu requirements, will be contributing to our pedestrian-friendly vision for the community, and we are pleased to have such a quality builder working in our city,” Muriby said.

Clear Creek anticipates building about 50 homes this year and already is scouting other parcels.

“Just like with our apartments, we want the best sites possible,” DeSimone said.

For the time being, it is concentrating on building townhomes.

Single-family homes, condos possible

“At some point in the future, I would expect that we would build single-family, detached homes,” he said.

He would love to build condominiums, if the construction defect liability threats could be addressed.

Each home will be equipped with a 4 kilowatt solar panel that will more than offset all electrical use.

It’s the equivalent of planting 1,100 trees or reducing miles driven by 53,000 per year.

“Without a doubt, we would love to build condos,” DeSimone said. “We think there is a lot of demand for condos and we think there is a whole buyer pool that is underserved because there are basically no condos being built. We would love to get into that market.”

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