Colorado Developer's 'Stimulus Package' Combats Financing Woes for Luxury Home Buyers, Builders |
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By: Tessa Mesa Posted: 2009-04-07 07:46:58 |
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In an economic landscape that is unpredictable at best, obtaining financing for multi-million-dollar land/homes packages has become an impossible feat for many luxury buyers seeking to build their dream home. The developer of Colorado's luxury community Tessa Mesa outside Castle Rock is looking to change that with a rare financing package that lets buyers secure their estate site now and postpone the building process until market conditions improve.
C&A Companies, Tessa Mesa's developer, also is offering buyers interest-only financing through its preferred lending relationships for up to four years, thus allowing buyers time to sell their existing home and design their new home on a timeline that is comfortable for them. Buyers can build when the time is right for them, whether that's now or years from now. For those who want to begin the building process now, C&A Companies' lender is offering special home construction financing that requires only 20% down and gives credit for lot equity as part of the down payment. "We understand that people are hesitant to look too far into the future while in the midst of a turbulent economy," said David Pretzler, C&A Companies principal. "We also know that banks will hardly look at new construction financing especially in the luxury custom sector. Our stimulus package gives buyers the opportunity to secure exceptional financing terms so they can build their dream home right now if they want to. These financing options are really unheard of in this economic climate. " Located in Douglas County just 15 minutes southwest of the Denver Tech Center, Tessa Mesa is a 600-acre gated community comprising 16 estate lots ranging in size from 35 to 41 acres. Remaining estate lot pricing starts at $899,000, and some of Tessa Mesa's best sites are among the seven lots still available. Tessa Mesa's topography offers a unique mix of rolling hills, scenic buttes and open meadows atop a vast mesa that reveals head-on views of Rocky Mountain peaks. Tessa Mesa is bordered on the north by more than 400 acres of open space that includes an expansive trail system for recreational use. The estate lots have level, generous, ready-to-build envelopes that make them ideal horse properties or family estates. Zoning allows for a primary residence, up to two guest houses, a barn and other outbuildings such as a sports pavilion. To learn more about Tessa Mesa, and the 'Select Now, Build Later' incentives, call 303-679-2600 |
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