Headwaters Group Breaks Ground on 172-Unit Aspendale Centennial Active Adult Community in Colorado

by Jeff Shaw

CENTENNIAL, Colo. — Headwaters Group has broken ground on Aspendale Centennial, an active adult community in Centennial, a southern suburb of Denver. 

The property will feature 172 units in a four-story, 203,653-square-foot building.

Live Oak Bank provided construction financing, and a programmatic institutional equity partner provided equity. 

“This is a meaningful project, as it will be our first ground-up development since Headwaters Group’s inception in 2022,” says Ben Burke, managing partner at Headwaters Group.

The focal point of the community will be a two-story clubhouse, featuring 9,757 square feet of internal community amenity space.

Construction is set to begin later this month, with pre-leasing starting in October 2024. Headwaters expects to deliver the first units in August 2025.

Headwaters Group has three additional development sites under control in Colorado and four in Arizona, with plans to start projects on all four over the next 24 months. In 2023, Headwaters Group acquired an age-restricted apartment community in Salt Lake City.

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