Located in the scenic Redlands Mesa area of Grand Junction, Colorado, Trails West Village is a single-family neighborhood built against a bluff with stunning views of the Colorado National Monument. Originally passed over by area developers due to the presence of a canal and the steep hillsides, Novawest saw the public trail opportunity inherent in the canal right a way as well as the lifestyle amenities offered by the bluff. A total of 58 home sites were developed in three initial phases. A fourth phase, on the mesa top, remains a part of the portfolio for future development.
Upon the launch of Trails West Village, the ready-to-build lots sold rapidly at anticipated prices. Success in recovering the initial development costs along with expected investment returns gave Novawest the opportunity to take on vertical development on a spec basis. Leveraged returns on the vertical component exceeded expectations. Full absorption of available inventory was accomplished within the original time projections.
