The Siena Lake development in Gypsum is marketing units and could welcome its first residents in the fall.
The 591-unit project was first approved in August of 2018 and was envisioned as a community for those 55 and older. The homes were supposed to be small, ranging from 400 to about 1,500 square feet.
The project has changed hands over the years and the new developers — a joint venture of McIntosh Poris Architects and Peritus Ventures — have since adopted a new product mix.
Gypsum Community Development Director Lana Bryce said changes to the plan were made a “couple of years ago.” Those changes include larger homes in the mix. Those units now range from 1,182 square feet for a two-bedroom home to 1,812 square feet for a three-bedroom.
Bryce said the developers are now working on infrastructure at the project.
Travis Cox, the team leader for Keller Williams Mountain Properties, noted that the first Siena Lake units were put into the county’s Multiple Listing Service in December of 2022. There are currently 49 units in the listing service.
The developers are claiming that homes will be ready this year. But a recent visit to the site showed little activity, although a few model homes dotted the landscape.
The more than 590 units in the development won’t hit the market all at once, so neither Cox nor Scooter Slaughter of Berkshire Hathaway HomeServices Colorado Properties expected the development to have much impact on the local market.
Slaughter noted that the first homes at Siena Lake were originally supposed to be ready for move-in by May of this year. That hasn’t happened.
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“We’re still so low in inventory,” Slaughter noted. “It’s still a seller’s market.”