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Toll Brothers buys CDG Summerfield site in Erie for $65M

ERIE — Boulder-based Community Development Group has sold 585.9 acres of its Summerfield residential project in Erie.

Toll Brothers Colorado Division, using TL Summerfield LLC, bought the property for $65 million in a transaction recorded Aug. 23.
The seller was listed as CDG Summerfield Inc., which shares an address with the Community Development Group at 2500 Arapahoe Ave. in Boulder.

Summerfield, according to Erie planning documents, was envisioned as a 620-acre parcel just south of Colorado Highway 52 and about a mile west of Interstate 25. Toll Brothers did not buy the 35-acre commercial section.

Planned for the subdivision was 2,200 residential units to include apartments, single-family homes and townhomes.

Source: BizWest