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Three Springs
Durango, Colorado
GF Development Group is the owner, planner, and developer of the Three Springs
master-planned community located in Durango, Colorado. The property was annexed
into the City of Durango in 2004 and construction of the main utility/road
infrastructure began that same year. The new Mercy Regional Medical Center
and adjacent medical office building opened in June 2006. Ground was broken
for the residential, commercial and neighborhood parks segments of the project
in the summer of 2006. Many of the homes are being built by our sister company,
Tierra Group,
and a number of the Growth Fund enterprises have located their offices at Three Springs.
Future development at Three Springs will include additional residential construction,
retail and office space, as well as schools and other community amenities.
Three Springs is a new urbanist community, the first of its kind in Southwest Colorado.
- Property Type: Mixed Use, New Urban Planned Community
- Property Size: 681 acres
- Projected Use: Neighborhoods/Commerce 47% (2,283 units & 814,000sf commercial);
Civic/Recreation 20%; Open Space 14%; Medical Campus 9%; Schools 6%; Rights-of-way 4%
- Residential Density: 3.4 units/acre (gross)
- Zoning: City of Durango -- Planned Development
- Investment Time: 20-30 years (estimate)
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