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Mount Elbert Capital LLC, a local private equity firm with a focus on real estate assets, is planning to build a new custom home neighborhood at the northwest corner of 144th Avenue and Irving Street in Broomfield.

The project, known as Sawatch Meadows, will include seven one-acre lots on a nearly eight-acre parcel.

The site is owned by MEC, and there is one existing home which will be demolished as part of the development project, MEC co-founder Matt Muell told members of the Broomfield Planning and Zoning Commission during a March hearing on the plans.

Initially, MEC planned to include an office element, which would serve as a headquarters for the company’s data center development business arm. The company opted to change course and move forward with plans for a residential-only project after meetings with neighbors and city planners, Muell said.

The Planning and Zoning Commission recommended approval of the development plan.

A public hearing on Sawatch Meadows’ final plat application will be Tuesday during the Broomfield City Council meeting.

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