New Construction In Greenwood Village Now Means Choosing Between A Waitlist And A Gamble

For more than fifteen years, a 13-acre parcel on East Berry Avenue sat empty, weeds pushing through cracked asphalt directly across from the condo towers at Landmark. Developers pitched plans. The city weighed density against traffic concerns. Nothing broke ground, through multiple market cycles, until June 4, 2026, when Century Communities held an invitation-only groundbreaking on that same site. It is now becoming The Village at Landmark, a gated enclave of 90 detached single-family homes.

That one fact, a stalled 13-acre lot in the middle of Greenwood Village finally has houses going up on it, tells a buyer more than any median price will. New construction here does not behave the way it does in Parker or Castle Rock, where a builder can lay out 200 lots on raw ground in a single phase. Greenwood Village is built out. If you want something new right now, there are exactly two ways to get it, and they do not resemble each other at all.

Why that lot sat empty for fifteen years

Century Communities' own team called this project rare, and the site's history backs that up. The parcel had drawn several redevelopment proposals since the 2008 downturn, caught between pressure for denser, transit-oriented housing and residents' concerns about traffic and infrastructure on an already tight corridor. A city council approval last November finally moved things forward, and Regional President Todd Baker put it plainly at the groundbreaking: opportunities like this simply do not come along often in Greenwood Village.

Scott Sinelli, working the project for Century, framed the scarcity the same way when he spoke with the Denver Gazette after the ceremony. Greenwood Village is an exciting location, he said, and there are not a lot of new homes coming into this market, which is exactly what makes it unique. He also drew a clear line around who this project is competing against: the price point and quality here are not chasing the rest of the market, they are filling a gap the rest of the market cannot fill.

That gap is the point. Century, which ranks among Colorado's largest homebuilders, is putting up five floor plans designed by Godden Sudik Architects, ranging from about 3,280 square feet up to roughly 4,500, with private elevators, rooftop living spaces, and three-bay garages. Pricing is expected to run from $1.7 million to $3 million. The location sits directly south of the Landmark district, close enough to walk to Landmark Theatres, Comedy Works, JING, and Upstairs Circus, with Club Greenwood and regional trail access nearby. Home sales are not expected to open until spring 2027. Model home construction is only just getting underway this year.

The other way to build new here

If waiting until 2027 is not realistic for your timeline, the alternative already exists across dozens of streets in the city: buy an aging lot and build custom. A wave of 1970s and 1980s ranch homes is currently being scraped and replaced, concentrated around the Greenwood Athletic Club area and along the east side of I-25 near the Castle Pines border. Pricing for this kind of custom new construction runs from roughly $1.2 million for a straightforward infill up to $4 million or more for a full teardown rebuild on a half-acre lot. At any given moment, expect somewhere between 15 and 25 new construction listings across the entire city, which is thin for a market with this much household wealth behind it.

Builders active in this space include Ashton Woods, which has expanded from a national production platform into more custom-style infill work along the Front Range, and Oakwood Homes on the more accessible end. Smaller operations round out the rest, often partnering with architecture firms for one-off high-end projects, and Godden Sudik shows up here too, the same firm drawing custom plans for scrape-and-rebuild lots near the Athletic Club this year while also finishing the five Landmark floor plans a few miles away.

The zoning rule that decides what you can actually build

Here is where most custom-build plans run into friction they did not expect. Greenwood Village caps lot coverage at 35 percent of the total lot area in most residential zones. That figure covers the house, the garage, and any accessory structures combined. On a 15,000-square-foot lot, a fairly typical size in the city's older neighborhoods, that ceiling works out to about 5,250 square feet of total footprint. If you are picturing a sprawling one-story compound spread across a big lot, the math will not get you there. The coverage cap pushes nearly every custom project toward two stories with a finished basement, simply to reach the square footage buyers expect at this price point.

Height compounds the constraint. Most residential zones limit building height to 35 feet, enough for a two-story home with a pitched roof, but not enough room for the soaring vaulted great room some buyers picture when they hear custom build. Setbacks are generally more generous than a comparable Denver lot, which helps with privacy and landscaping, but it also eats into the buildable envelope further. Most of the city falls under the Cherry Creek School District, with some eastern sections served by Littleton Public Schools, worth confirming address by address if school assignment factors into your decision.

None of this is a flaw in the process. It is the reason a 90-home production enclave inside city limits is being treated as a genuine event rather than routine inventory.

What this actually means if you have $1.7 million to spend today

A buyer who needs to be in a home within the next year is really choosing among spec homes already underway on scraped lots near the Athletic Club or the I-25 corridor, not waiting on Landmark. A buyer with more flexibility gets price and design certainty at Landmark, but has to accept a runway that stretches into 2027 before a key changes hands. Neither path is wrong. They simply serve different tolerances for time and for risk, and understanding which one fits you changes how you should be shopping right now, not after model homes open.

A few questions worth asking before you commit to either path

Will 90 new homes at The Village at Landmark push down prices on nearby resale or custom-build listings? It is a narrow slice of one price band. Ninety homes clustered between $1.7 million and $3 million sit inside a custom-build market that already spans $1.2 million to $4 million or more citywide, so the overlap is real but partial. Buyers shopping the upper end of that range now have a genuine new alternative to weigh, which is different from saying the whole market absorbs a shock.

Can I put down a deposit at The Village at Landmark today? Not yet. Model home construction is only beginning this year, and sales are anticipated to open in spring 2027. If this project fits your timeline, the right move now is getting on Century Communities' interest list rather than waiting for a listing to appear.

Does the 35 percent lot coverage rule apply to every residential lot in Greenwood Village? It applies across most residential zones, but zoning specifics can vary by section and by lot, particularly near larger estate parcels. Confirming the exact allowance for a specific address before you buy a teardown lot will save you a redesign later.

If you are trying to figure out which of these two paths actually fits your timeline, your budget, and the kind of home you want to be living in a year or two from now, that is exactly the kind of decision worth talking through before you write an offer on a lot or join an interest list. Abby Barratt works with buyers across Greenwood Village and the south suburbs on exactly this kind of build-versus-buy math. Let's connect.