HIGHLANDS RANCH, Colo. (CBS4) – A developer on Tuesday completed the purchase of 1,270 acres in The Canyons for a planned residential community that would nearly double the size of Castle Pines.

Shea Homes Colorado bought the land for a planned community that “will feature 2,000 single and multi-family homes from a variety of builders,” according to a news release.

READ MORE: COVID In Colorado: Governor's Office Lifts Face Mask Mandate For Those Who Are Vaccinated
The Canyons (credit: Shea Homes Colorado)

The Canyons (credit: Shea Homes Colorado)

Shea Homes has developed such communities as Highlands Ranch, Reunion and Stepping Stone. The company expects to invest $75 million in the new community in The Canyons over the next four years.

The Canyons is located east of I-25 in the city of Castle Pines between the Hess Road and Happy Canyon Road interchanges.

CASTLE PINES DEVELOPMENT map

“With a vision of active, outdoor lifestyles and environmental stewardship, the community’s plans call for more than half of The Canyons to be dedicated to parks and open space, with 49 acres for public schools and 20 acres for civic uses, as well as areas for retail, restaurants and office space,” the news release stated.

“Shea Homes is known for collaborating with municipalities to deliver the types of communities and neighborhoods people value,” Sam Bishop, director of community development for the City of Castle Pines said in the statement. “The Canyons will be Colorado’s next premier community, and a model for sustainable living in the 21st century.”

READ MORE: With Face Masks No Longer Mandated For Those Who Are Vaccinated, Business Owners Navigate Uncertainty
The Canyons (credit: Shea Homes Colorado)

The Canyons (credit: Shea Homes Colorado)

“It gives me goosebumps, to be honest,” said Chetter Latcham, Shea Homes President.

Castle Pines city leaders say it’ something they have worked towards since 2009 when the property was annexed into the city.

“It was a logical extension of the city’s boundaries,” Bishop told CBS4’s Matt Kroschel.

Work will begin on the new community in 2016 with homes to be ready for move-in in 2018.

Additional Resource From Shea Homes Colorado

MORE NEWS: COVID In Colorado: Excitement Builds As Children Ages 12-15 Begin To Get Pfizer Vaccine

For more information, or to register for updates, please visit TheCanyonsLiving.com/shea.