By Matt Kroschel

GEORGETOWN, Colo. (CBS4)– The 1,000 or so people who call Georgetown home will soon welcome about 400 new neighbors.

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Bighorn Crossing, a new development, is already breaking ground on dozens of new homes, condos, hotel rooms, brew pub and new lake paths.

(credit: bighorncrossing.com)

Microtel by Wyndham and a brew pub on the shores of Georgetown Lake are set to open next year.

“The development was created with the intention of providing affordable, modern housing to those who will appreciate and utilize its close proximity to the lake, mountains and of course skiing,” developer Kurt Soukup told CBS4.

(credit: CBS)

Developers officially broke ground Thursday, although dirt work is already well underway at the site along Interstate 70.

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The center of the property will be the 64, two and three bedroom, 2 ½ bath, garage townhomes. Units will start around $300,000. Phase one is already sold out.

(credit: CBS)

Colorado is experiencing a serious decline in available real estate.

Listing agent Dana Abrahamson of Argent Real Estate commented specifically on the pressure in Clear Creek County.

(credit: CBS)

“We haven’t been able to fully meet the needs of potential buyers in this area for some time,” she said.

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Matt Kroschel covers news throughout Colorado working from the CBS4 Mountain Newsroom. Send story ideas to mrkroschel@cbs.com and connect with him on Twitter @Matt_Kroschel.