Builder buys last lots at Yeager Farm | Today’s News | Boulder County Business Report

Builder buys last lots at Yeager Farm

By Dallas Heltzell March 22, 2013

LONGMONT – A homebuilder has purchased the remaining 45 undeveloped lots in the Yeager Farm subdivision in Longmont.

Henry Walker Homes, headquartered in Salt Lake City with an office in Westminster, will open a sales trailer this weekend in the subdivision, located west of Francis Street on 15th Avenue. According to Tom Zieske, division president, the company will build a display home and two more on speculation. It has three more homes under contract to be built, Zieske said, plus reservations for four other lots and plans for more awaiting city approval.

Financial terms of the purchase were not immediately available.

Harold Yeager and his brothers bought the farm in 1942. It was purchased by Leo Simons and John McCarty for development in 1977, but remained an undeveloped tract surrounded by existing northwest Longmont neighborhoods until 2006, when Markel Homes started developing it despite some Longmont residents’ insistence that it be preserved as an island of open space.

Infill was slow as economic recession hit, however, and today the development between 14th and 16th avenues still consists of a mixture of existing homes and vacant lots.

“When I first saw this, I was like, ‘Are you kidding me? This is a hidden gem,’ ” Zieske said. “This is quintessential infill.”

Lot sizes will vary between 7,000 and 12,000 square feet, Zieske said, and two models of one- to two-story houses – the “Collegian” and the “Metro” – are planned. A “Collegian” in Yeager Farm would range from 1,200 to 2,400 finished square feet and sell for around $300,000, Zieske said, while a “Metro” could hold 1,500 to 3,200 square feet and sell starting at about $350,000.

The homebuilder already was active in Firestone and Dacono. Its portfolio in Colorado and Utah includes more than 2,500 lots.

via Builder buys last lots at Yeager Farm | Today’s News | Boulder County Business Report.

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Posted on March 22, 2013, in Market Conditions. Bookmark the permalink. Leave a comment.

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