Esencia

Esencia de Santa Fe, Price’s most exciting and ambitious acquisition and development to date, is a 277-acre master-planned community in the heart of Santa Fe’s Community College District. The project is approved for 710 new homes, including market-rate, affordable, and multifamily options—with 15% reserved for Santa Fe County’s Affordable Housing Program. Designed with sustainability and livability in mind, the community will offer 140 acres of preserved open space, featuring 4.5 miles of trails, parks, ponds, trailheads, and stunning mountain views.

The pedestrian-friendly neighborhood emphasizes community connectivity, walkability, and environmental stewardship. Half of the land is dedicated to recreational and natural spaces, including four neighborhood parks and a centrally located seven-acre community park. Construction of Phase 1 lots began early 2025, with first home move-ins anticipated mid-2026. Esencia reflects Price’s commitment to responsible growth, thoughtful planning, and creating opportunities for diverse homebuyers in a tight housing market.

Beyond the community, Price is investing in key infrastructure improvements, including over $2 million toward the expansion of Avenida del Sur, a major east-west connector that will support long-term regional access, along with a 2-mile sewer outfall to the Quill Waste-Water Treatment Plant which was upsized to allow for future expansion of County facilities. Developed in close coordination with Santa Fe County and local stakeholders, Esencia represents a model for public-private collaboration and sustainable growth in one of New Mexico’s most dynamic regions.

In Q1 2025, Price successfully sold two parcels—representing over one-third of Esencia’s planned homesites—to national homebuilders DR Horton and Pulte Homes, marking a major milestone in bringing this thoughtfully planned community to fruition.