Oct 28, 2019

Zonda

The Gold Standard Of Master Plan Segmentation

Rethinking what has worked in the past can be a risky and rewarding venture. Just ask the developers of Stapleton, a master plan community in Denver, that have proved challenging the norm is a major key to success. We dug into a new master plan report Meyers Research is launching at FuturePlace later this month to understand how segmentation looks in Stapleton as the community approaches buildout.  

Our new master plan report allows Zonda users to quickly see supply, price, and project details in real-time. Using the database, we pulled fast facts for Stapleton:

  • Of the roughly 12,000 units planned, just 10% of the lots remain
  • There are 23 active projects after 10 sold out earlier this year 
  • Nearly 40% of the actively selling plans are priced below $500,000 compared to the Denver CBSA median new home closing price of $510,000
  • Roughly 50% of plans in Stapleton are below the CBSA average unit size of 2,200 square feet
Bubbles

Source: Zonda by Meyers Research Master Plan Report

The developers of Stapleton, Forest City Enterprises*, saw a huge infill opportunity when Stapleton International Airport closed for the Denver International Airport. The community was geographically positioned to take advantage of the demand from older Denver neighborhoods that were popular but with smaller, 80- to 100-year old bungalows, growing families were looking for alternatives. Geography without execution, however, only goes so far. The execution is what ultimately drove Stapleton’s success back then that has carried through the community today.

"Stapleton is the gold standard for segmentation".

Mike Rinner, Senior Vice President, Advisory

The community has a tiered segmentation strategy that starts with price. When price overlaps, product and square footage differentiation become important. The table below is pulled directly from our master plan report and highlights the positioning of all the actively selling projects in the market today**. 
 

Thrive Home Builders, Infinity Home Collection, and KB Home are the builders behind the five best-selling communities in Stapleton over the past six months. These communities highlight the beauty of segmentation: one is income-qualified in the $200Ks, one is in the $400Ks, one is in the $500Ks, one is in the $600Ks, and one is in the $700Ks. 

Segmentation

Source: Zonda by Meyers Research Master Plan Report

As Stapleton nears buildout with home sales projected to conclude in 2022, communities like Painted Prairie in Aurora are being developed to fill the gap. Our master plan data in Zonda shows the total number of units planned and the unsold developer units for upcoming master plans, like Painted Prairie, and tracks sales, pricing, segmentation, elevations, and builders once a community opens. 

 

 

*Brookfield Properties acquired Forest City Enterprises and the last 600 lots in Stapleton and will be finishing it out
**Not shown: Panacea (Beeler) by Thrive Home Builders with two floorplans priced over $1 million

Let's work together to develop your Master Plan strategy

Ali Wolf

Director, Economic Research

Ali Wolf

Director, Economic Research


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