New Home plans to build nearly 1,100 homes at six development sites in suburbs around Denver.
The Irvine, Calif.-based developer has purchased an unspecified number of acres at three sites in Aurora, east of Denver, as well as sites in Golden, Thornton and Mead, the Denver Business Journal reported. The sellers and cost of the lots were not disclosed.
The acquisitions represent an estimated “future homebuilding revenue” of more than $750 million from 1,087 homes, the company said.
New Home, which entered Colorado in 2021 with the purchase of Epic Homes, wants to expand in high-growth markets in and around the Mile High City.
“The Denver market is key to our expansion throughout the western United States,” said Matthew Zaist, CEO of New Home, in a statement. “Our goal is to grow into a top five builder in the Denver MSA in the coming years.”
The bulk of the buys were in Aurora, an up-and-coming city 17 miles east of Denver. They include 91 homesites in a master-planned golf course project known as Murphy Creek,, with single-family homes to be built along the city-owned links.
New Home is finalizing a purchase of 227 homesites in the master-planned Harvest Crossing, where it plans to build 89 two-story townhomes and 138 two-story duplexes.
It’s also finalizing its acquisition of 110 finished lots in Windler, another master-planned community. The project will contain two-story duplexes and single-family homes, with sales to begin early next year in the high $400,000s.
East of Denver, New Home is developing 91 single-family homes at Golden Overlook, among the only large new developments in Golden in the last 10 years, according to the firm.
New Home has broken ground on 361 homes at Talon Pointe in Thornton, north of Denver. It also expects to break ground late next year on 207 single-family homes in Mead, north of Denver, with sales expected in early 2026 starting in the high $500,000s.
“We’re fortunate to have access to capital and the investment in our homebuilding platform from funds managed by Apollo Global Management,” Zaist said. “Apollo’s flexible and scaled capital is a true differentiator in the land acquisition and homebuilding space.”
New Home, founded in 2009 by Larry Webb, Wayne Stelmar, Tom Redwitz and Joe Davis, has targeted growth markets in California, Arizona, Colorado, Oregon, Washington and Texas, according to its website.
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