Ryland Group Inc. announced Thursday that it has opened a residential development in Colorado.

The Patio Villas at Coal Creek Village North in Lafayette, a neighborhood in suburban Boulder, features single-story floor plans with up to two bedrooms and two bathrooms. Homes start at $320,000.

The Westlake Village homebuilder has opened several new communities in Colorado, as well as Indiana, in the last few months.

Last summer, Ryland acquired the assets of Cornell Homes, a Philadelphia home builder, the fourth acquisition the company made in the year. The company has operations in 14 states.

Shares closed up $1.14, or about 3 percent, to $38.89 on the New York Stock Exchange.