Mortgage interest rates and home values have kept the new permit activity for single-family homes well below historical averages this year.

In September, 26 new single-family were permitted in the Town of Castle Rock. The five-year average for number of homes permitted in September is 69. The annual 20-year average is 800 new single-family homes permitted; however, 2022 ended with 677 permits and the Town is on track to be just at or below 400 new homes this year.

While the slower pace of single-family permits may be viewed as welcomed, it does mean a decrease in development impact and system development fees. The decrease could delay the timing of some of the Town’s Capital Improvement Projects, including roads, parks, trails, recreation and water infrastructure projects.

There are still several multi-family and commercial areas under development within Town. Related to that, 99,000 square feet of commercial space has been permitted this year through September, which is up 15% compared to the 5-year, year-to-date average.

Bien y Tu

217 Fourth St.

• New restaurant and patio space
• 702-square-foot patio with a gate that opens on Fourth Street
• Wood pergola with lounge seating, fireplace and mural

Service Street Car Shop

3851 Sol Danza Drive

• South of ANB Bank in The Meadows, near the intersection of Prairie Hawk and Sol Danza drives
• New 4,600-square-foot automotive service station with eight service bays and a parking lot

The View

205 Sixth St.

• 220 residential units proposed, 5,000 square feet of retail and more than 14,000 square feet of office space
• 432 parking spaces with 100 spaces open to the public

Los Dos Potrillos

6370 Promenade Parkway

• Located west of TJ Maxx / Home Goods
• 7,469-square-foot Mexican restaurant
• Outdoor beer garden and patio

Terrain North Basin

Terrain residential development along Castle Oaks Drive

• KB Homes is the builder
• Phase 1 has been approved for 96 single-family homes located on a 71-acre site
• 36 acres of the 71-acre site are zoned for open space