Village at Avon project awakens
Road relocation is first step in building 240 Avon apartments
AVON — Work began last week in preparation for a new 240-unit apartment complex in Avon.
It’s the first major construction on the Traer Creek property in 13 years, since the completion of the Traer Creek Plaza building.
The Village at Avon is an 1,800-acre mixed-use project that was approved in 1998.
“I”m thrilled that something’s happening there,” said Avon Mayor Sarah Smith Hymes. “It’s been forever since anything has happened out there. … It’s going to add housing stock, which is really in need.”
A deal closed Aug. 15 for the sale of the 10-acre parcel land from Traer Creek to Avoco Investors LLC. The price was $6.47 million.
Avoco Investors shares the same address as Actis LLC, the Longmont developer that was previously announced as the developer of the apartment project.
Richard Groves, owner of Actis, did not respond to an email seeking comment.
Starting last week, workers used heavy equipment to begin a road relocation of East Beaver Creek Boulevard, the road that runs from Chapel Square to Walmart through mostly vacant land. About 1,350 feet of the road will be moved to the south, with about 300 feet directly adjacent and parallel to the railroad tracks. The apartments will be north of the newly aligned road.
The road will probably be closed for about a week at the end of September, said Justin Hildreth, Avon’s town engineer.
Revenue, vibrancy and housing
The apartment project is just west of Traer Creek Plaza, on a now-empty lot at the northwest corner of Post Boulevard and East Beaver Creek Boulevard.
The developer is aiming to begin work on the actual apartment project in mid-September, said Matt Pielsticker, planning director for the town of Avon.
Representatives from Traer Creek previously said they believe the first buildings would be completed in 12 to 14 months and total construction would last 20 to 22 months.
The development would include eight buildings, including a central clubhouse, according to a preliminary development application. The buildings would be as tall as four stories.
The apartments would be rentals that include studios, one-, two- and three-bedroom units.
Smith Hymes noted that studies have shown that many local businesses can’t fill jobs — even as they are still expecting to add more jobs.
“It’s bringing revenue and vibrancy to town, but also creating housing stock,” she said of the apartment project.
How we got here
In 1998, Avon voted to annex the land into the town.
The nearby Walmart and Home Depot opened as part of the development in 2003, and Traer Creek Plaza, an office and commercial building, opened in 2006. An ambulance station was completed in 2008.
The town and the developer were engaged in litigation for years. The town of Avon filed a lawsuit against the Traer Creek Metropolitan District in October 2008. The developers then sued the town. The parties agreed to settle in 2011, and a final settlement was completed in 2014.
The development can have as many as 2,400 homes and 825,000 square feet of commercial space. Currently, 244 affordable homes have been built within the development and about 350,000 square feet of commercial property has been constructed.