TUCSON, AZ (March 1, 2024) Blackhawk is a new centrally located community along the I-10 corridor, southeast of Tucson, at the southwest corner of Wilmot and I-10. With 87 acres being developed by Forestar (USA) Real Estate Group, Inc., lots have started to sell. See the Real Estate Daily News on May 28, 2021.
D.R. Horton purchased 60 SFR lots here in January, and recently, Richmond American bought 51 SFR lots for $4.641 million ($91,000 per lot), a new high price per lot for this area of Tucson. When completed, this community will have 310 homes—phase 1 with 157 lots and phase 2 with 153 lots.
This is the 13th community in Tucson where Richmond American is building.
According to Richmond’s website, it is offering buyers a 4.500% (5.237% APR) special financing on homes that close by 3/29/24. Limited funds are available, and thousands in closing cost assistance for buyers.
Will White and John Carrol with Land Advisors Organization (Tucson) handled the transaction.
“Tucson needs 25,000 lots to be developed at a minimum over the next 5 years to accommodate consumer demand for housing,” White wrote in the March Trend Report. “The good news is that Tucson has strong demand and solid fundamentals. As the market continues to evolve, the success of Tucson’s homebuilders will depend on their ability to navigate the delicate momentum of the land market, much like skilled players maneuvering through a Jenga game. The next moves will determine whether the tower stands tall or succumbs to the pressures of an unsteady foundation.”
For more information, contact White and Carrol at 520.514.7454.
To learn more, see RED Comp #11156.
