Oakwood Homes Completes a Sale of 93 Lots to Richmond American Homes at Banning Lewis Ranch in Colorado Springs



Oakwood Homes utilized its existing residential option agreement with Walton established in 2020 to carve out a portion of lots and sold them to Richmond American Homes. Home construction is expected to begin in 2023.

Walton entered into a residential option agreement for approximately 1,300 acres with Oakwood Homes in early 2020. Oakwood Homes is anticipated to purchase the property and build homes in multiple phases.

“Walton is excited to see a new builder at Banning Lewis Ranch and we look forward to Richmond American’s success,” said Jen Ruby, Walton’s Senior Vice President, Land.

Located along Banning Lewis Ranch Parkway south of Woodmen Road, Banning Lewis Ranch provides convenient access to downtown Colorado Springs and is located 15 minutes from the Colorado Springs Airport and 10 minutes from Interstate 25.

Banning Lewis Ranch was named one of the 50 Top-Selling Master Planned Communities in the nation in 2020 with a 62% increase in sales over 2019, according to RCLCO Real Estate Advisors.