An old red barn surrounded by rolling plains is one of the few remaining structures on the 8,100 acres known as the 4-Way Ranch.The barn is located on Elbert Road, but the boundaries of the ranch extend north to Murphy Road., south to Stapleton Road., east to Highway 24 and west to Eastonville Road.Peter Martz, the developer for Eastbrook Development Inc., said the ranch will be developed slowly, and he hopes to retain the rural feel of the area. Plans are in the works to develop 1,325 acres on the ranch. Two separate metropolitan districts are being formed to finance and provide services for the development.Phase 1 of the development is scheduled to begin in August on 500 acres north of Stapleton Road, between Eastonville Road and Highway 24 in Falcon. Plans for the site show 35 acres of commercial land and 137 residential lots, with a minimum lot size of 2 1/2 acres. While covenants have not been drawn up, Martz said he believes the houses will be at least 2,000 square feet.He said both phases of the development will have paved roads and a central water system, using Denver Basin groundwater rights owned by the developer.The homes will have individual septic systems but the commercial land will probably be connected to the Woodmen Hills treatment facility, Martz said.Phase II will begin in about eight to 10 years, he said. Plans include 250 residential lots, 35 acres of commercial development and open space.The two phases should have an approximate assessed value of $43,638,000, Martz said.As development on the 4-Way Ranch moves east, Martz anticipates the lot sizes will increase to at least five to10 acres. “We want to maintain the integrity of the land and do not wish create an urban density development,” he said.The 4-Way Metropolitan District Service Plan is scheduled for presentation to the county commissioners on Sept 1.
