Colorado Real Estate News - Denver Colorado Homes for Sale
Quality local news and information from professional Colorado real estate brokers who know their stuff. Local real estate news, information and listings for Colorado, authored by Denver real estate company Legacy Real Estate Brokers, Inc. and edited by RISMedia.Colorado Mountain Real Estate | Ralston Ranch Development
Colorado Mountain Real Estate | Ralston Ranch Development
Two local Colorado developers Rich Laws and Jeff Willis recently bought the historic Ralston Ranch. Willis was an executive at Shea Homes until he formed Talavera Properties with Laws sometime last year. Laws grew up locally in Evergreen and knew exactly where the land was when a Fuller Real Estate broker pitched him the idea. They bought it with Bow River Capital Partners for $12 million.
The 768-acre property borders Genesee Mountain Park on the north, with Kerr Gulch Road creating the southern border. The land is crisscrossed with ridges, rock outcroppings and meadows in this beautiful mountain valley located just outside of Denver. According to county records this is likely the largest parcel of land left near the I-70 corridor. There is an easy commute to Denver from this historic property; the area is surrounded by multi million dollar homes with exceptional views as well.The land is zoned for a minimum of 10-acre sites. They may develop all or part of it under Jefferson County’s “rural cluster” program. That would require dividing the land into 17.5-acre sites, but buyers would only have a five-acre “building envelope” for their homes to protect wildlife, which includes elk, deer, bears and mountain lions. This was the last major land holding of the Ralston family, which traces its Colorado roots to the area back some 127 years ago. Capt. Lucian Ralston moved his family to Colorado from Kentucky in 1880, and began homesteading. The Ralston family later sold or swapped land that now is the Genesee subdivision and the Genesee Mountain Park, which is owned by the city of Denver. The local elementary school honored Mr. Ralston years ago by naming their school Ralston Elementary School.The $15,628 they paid per acre sets a new benchmark price for a ranch of this size in the area, although a nearby 10-acre site recently sold for about three times as much per acre, after being on the market for only a day. The investment should be a lucrative one for the partners if they develop the land properly and build desirable rocky mountain homes.It’s too early to price the future homes, but the road leading to the property off the Chief Hosa exit of Interstate 70 is lined with homes typically on five-acre parcels with large price tags usually in the millions. Laws and Willis bought the land from a family trust that included numerous nieces and nephews of Norman Ralston, who died late last year at the age of 93. Until his health began to fail, he had lived in a one-bedroom log home, which he built on the property in the 1960s.
This very desirable land which is currently only accessible by SUV and once had a ski jump on the property will soon have roads and will be divided into beautiful mountain homes sites very close to metropolitan Denver but with a distinctive mountain feel and character. Look for more details soon or contact Legacy Real Estate Brokers Inc. for more information.
Tom Reed and Bill Brown are local authors and real estate experts of Legacy Real Estate Brokers Inc. in Denver Colorado. You can visit their website at www.discovercoloradorealestate.com.
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About Local Author
Denver Colorado real estate experts Legacy Real Estate Brokerage, Inc. is a full service Colorado real estate firm specializing in Colorado real estate for sale including purchasing a Colorado custom home. They have outstanding brokers who are highly familiar with the neighborhoods, communities and lifestyle options available throughout the Colorado Real Estate market.
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