Castle Valley Boulevard, New Castle, Colorado
Forty-eight for-sale townhomes on the residential parcel of a mixed-use site in New Castle, aimed at the buyer priced out of Glenwood, Carbondale, and Basalt.
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Site data
New Castle is the point on I-70 where Roaring Fork Valley wage earners can still buy. It sits minutes from Glenwood Springs and within commuting reach of Aspen, Snowmass, Vail, and Beaver Creek — a workforce-housing corridor where for-sale supply is structurally constrained by terrain and entitlement rather than by demand.
The product is two plans. The two-bedroom is three levels at 1,990 square feet with a tuck-under garage; the three-bedroom is four levels at 2,728 square feet with an upper deck and en-suite. Twenty-four of each, all for sale, with modern finishes, private open space, and a trail connection to the Pendergast system.
Comparable new construction nearby prices around $500 to $515 per square foot. St James Quarter is modeled below that, at $440 to $460 — and Eagle's Ridge Ranch, a new townhome project on the same boulevard, sold out its first phase.
Land is closed. Architecture, civil, and structural design are complete, traffic and geotechnical reports are in hand, and the sketch plan was filed with the Town of New Castle in October 2025. Civil engineering is under way and groundbreaking follows final site-plan approval.
The project is built all at once — no phasing. Residential and commercial proceed concurrently so the shared road, water, sewer, and storm infrastructure is installed once for the entire site.
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Project economics
| Townhomes | 48 for-sale units |
|---|---|
| Two-bedroom | 24 units at 1,990 SF |
| Three-bedroom | 24 units at 2,728 SF |
| Total residential area | 113,232 SF |
| Anticipated pricing | $915,000 – $1,200,000 |
| Modeled basis | $440 – $460 per SF |
| Site | 6.56 acres |
Project economics, the full model, sources and uses, and current offering materials are provided to qualified capital partners on request.
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