Fri Mar 30th, 2018
Jeremy Wade Shockley
The Southern Ute Drum
Categories: News, News, Tribal Council
Tags: Candelas, Denver, GF Properties, GF Properties Group, Growth Fund, Patrick Vaughn, Southern Ute Indian Tribal Council
Bordering the Rocky Flats Wildlife Refuge and surrounded by protected Open Space lands, Candelas is one of Denver’s newest communities. The project incorporates both geothermal and solar energy on individual housing units. The swim and fitness club at Candelas also boast a LEED Gold certification by the United States Green Building Council. “Since its inception, the Candelas residential community in Arvada, Colorado has made an unprecedented commitment to sustainable community design and green building practices,” according to a recent Candelas press release.
Members of the Southern Ute Tribal Council including: Chairman Christine Sage, Councilman Adam Red, Councilwoman Lorelei Cloud and Councilman Cedric Chavez toured the newly established community on Wednesday, March 21. The educational tour was organized by Growth Fund Executives Patrick Vaughn and Brian Mulvany. Candelas is being developed by Growth Fund Properties in collaboration with Terra Causa Capitol of Denver.
“We are quite proud of Candelas,” said Patrick Vaughn, Director of Non-Energy for the Southern Ute Growth Fund. “While this project has taken longer to come to fruition due to the Great Recession, it will still be a very profitable investment for the Tribe.”
Candelas is Arvada’s largest and most complete master-planned community. While much of the project is complete, and occupied by homeowners, there are a handful of family unites left to sell. The project started in May of 2006 with GF Investments per Tribal Council Resolution 2006-101. As of March, 2018, Candelas has closed on the sale of 1,294 lots and have another 408 under contract. The builders have sold more than 917 homes at an average price of over $538,000. Horizontal development work such as streets, utilities and lot creation will be complete by August of 2018.
Questions about the project and timeline were fielded by representatives from the Southern Ute Growth Fund and Brian Daly of Terra Causa Capitol, key staff who have worked on this investment project since its inception. The tour ended at a large and inviting swim club that sits adjacent to the school, and a community park. As the tour van circled back through the neighborhoods, the distinct shape of a King Soopers grocery store could be seen nearing completion in the immediate distance, connecting this community to the next.