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Rosemont Copper Company, a subsidiary of Canadian-based Augusta Resource Corporation (TSX/NYSE:AZC), acquired 7.8 acres for $600,000 at 18500-18590 Old Nogales Hwy in Tucson from John J Thomas and Sutah J Harris, for utilitarian use. Located between a gravel pit and the Green Valley water recharge station, the property included four older buildings (built 1957-1972) totaling 5,065 sq. ft., but was purchased for its land value and for use to support access to power switching and water pipeline stations to the copper mine, about 30 miles south of Tucson in the Santa Rita Mountains, partly on US Forest Service land and therein lies the delays.

Over seven years have passed since Rosemont started the approval process for the project, and it has now received seven of the eight major permits needed, all but one to begin construction. Earning a license to mine in Arizona is a complex process, with years of study, analysis, paperwork and permitting before proceeding to construction. Get the federal government involved and the process becomes even more complex and even longer. Rosemont’s commitment and perseverance has paid off however, and the Company is optimistic this last major permit, the Clean Water Act Section 404 Permit from the US Army Corp of Engineers, will be received by the Fall if not by midsummer.

Although Rosemont Copper promises new environmental standards that employ water conservation and recycling techniques that are the first-of-their-kind in Arizona for mining, permits have come slowly. The Company has tried to meet the public challenges head-on by open disclosure and transparency in its dealings with the public. Rosemont continues to grow supporters from former opponents, for its much needed job creation that would jump-start the economy in the region. It continues to offer tours of the site twice a week and host numerous public information meetings.

During the mines’ first 20 years, 450 annual direct and an estimated 1,700 indirect jobs would be created locally, 2,900 created at the state level and 4,200 national jobs. It is predicted that the mine will have an annual economic impact of $701-million to Pima, Cochise and Santa Cruz counties, a $900-million impact to Arizona and $1.3-billion impact to the United States.

When finally in production, the mine will account for about 10% of the US copper production. With proven and probable reserves of 2.67 Mt (5.9 billion pounds), the mine is expected to produce 110 kt/a (243 million lbs/year) of copper, 2.4 kt/a (5.4 million lbs/year) of molybdenum and 90.2 t/a (2.9 million oz per year) of silver.

Construction will take about 22 months from final approval, with production expected in 2015, without further unforeseen delays.

Bill McReynolds of Genesis Real Estate & Management in Tucson handled the transaction for seller and buyer.

McReynolds can be reached at (520) 247-8077. Rosemont is at (520) 495-3500.

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J.T. Vaughan Enterprises, LLC (Jeff Vaughan) dba Cratemaster, Inc. of Tucson purchased the building at 7232 S Comstock Road for $670,000 ($59.55 PSF) from Amazon Industries, LLC of Tucson (Carl Anderson). Cratemaster was a tenant in the property for 15-years prior to exercising a purchase option.

The 11,250 sq. ft. steel industrial building was constructed in 2002 on one acre in Los Reales Industrial Park, northeast of Swan and Los Reales Roads.

J.T. Vaughan Enterprises is a private company established in 1997. The Company specializes in the manufacturing of custom wood shipping containers, packaging boxes, carded packaging, conductive boxes, rigid set up boxes, egg trays, packaging trays, packaging bags, pouches, and packaging materials for every shipping application.

There were no brokers involved in the transaction.

Vaughancan be reached at (520) 620-0600. Anderson is at (520) 885-9424.

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Housing analysts are predicting new home prices will rise by 10% to 15% in 2013, chiefly because of rising demand and because of the scarcity of land. This is a significant shift from the economic downturn, when builders halted development and liquidated land for pennies on the dollar. From 2006 through 2011, residential land nationally lost a cumulative 58% of its value.

To be sure, land prices in Pima County are still far from the peak levels of 2005 and 2006 and remain notoriously volatile. But, these end of Q1 sales show a definite shift in prices for new transactions versus rolling options commitments made during the downturn. For consumers, costlier land means more-expensive houses. Land cost constitutes about 21.7% of the final sale price of a new home, according to the National Association of Home Builders. As land prices rise, builders tend to pass 100% of those costs on to consumers.

New Transaction – Richmond American Homes of Arizona bought 87 platted and engineered lots for $2, 392,500 ($27,500 per lot) at the Mountain Vail Estates, a 135 acre master planned community with 501 home sites, located east of Houghton and Mary Ann Cleveland Way in Vail, from Diamond Ventures’ affiliate MC 140, LLC. The lots are 50′ wide. Will White of Arizona Land Advisors in Tucson represented the seller.

New Transaction – Also in Mountain Vail Estates MPC, Lennar Arizona purchased 78 platted lots for $1,930,500 ($24,750 per lot) for 45′ wide lots from Diamond Ventures. Will White of Arizona Land Advisors in Tucson handled the transaction for the seller.

New Transaction – Scotia JV 2005, LLP dba AF Sterling Homes, purchased 14 finished lots for $1.12 million ($80,000 per lot) from Redwing Investments, LLC of Tucson (Bud Cardinal, manager). The subdivision, Uplands atLambert Lane, is a gated community at La Canada and Lambert Lane with a total of 16 lots and two homes constructed by seller. Kit Donley of Donley Commercial inTucson represented the seller and Mike Carlier and Jim Vincent of the Carlier Company inTucson.

New Transaction – New Era Tucson, LLC an affiliate of Redpoint Development, (Daniel Leung, managing member) sold 42 platted and engineered lots to Pulte Homes of Scottsdale for $1 million ($23,810 per lot). The new 42-lot subdivision, Edgar Heights, totals approximately 6 acres and is located northeast of La Cholla Blvd. and Magee Road. Dan Feig and Aaron Mendenhall of Chapman Lindsey in Tucson represented the seller in the transaction.

New Transaction – Whisper Canyon Holdings, LLC of Tucson (Steve Quinlan, managing member) purchased three custom home sites at Catalina Foothills Estates No. 2 from Wymore Revocable Trust of New York, NY for $210,000 ($70,000 per lot). The three approximately 36,000 sq. ft. lots were split from a larger infill piece located northwest of Hacienda Del Sol and River Road, and will be used for custom homes. Tim Harris of Long Realty represented the seller and Steve Quinlan represented the buyer. The buyer is also a partner in Miramonte Homes.

New Transaction – Charles Bennett, Jr. of Torrance, CA bought 35 finished lots at Mountain Manor View for $472,500 ($13,500 per lot) in a bank owned REO sale from FNBN-RESCON I, LLC. The subdivision is at Irvington and Cardinal in Southwest Tucson. Average lots size is 5,288 sq. ft. Dan Feig and Aaron Mendenhall of Chapman Lindsay of Tucson represented the seller.

New Transaction – Lennar Homes purchased 6.58 acres of raw land for development of 27-lots in Rancho Vistoso Parcel 10N in Oro Valley from JDW Management, LLC (Jason Wolfswinkel, manager) for $1.12 million ($41,480 per lot). The lots are still in design review but are slotted for 45′ x 115′ lots at this site. Jim Vincent and Mike Carlier of the Carlier Company handled the transaction for the seller.

New Transaction – Fairfield Homes (Dave Williamson, managing member) is in plan review for the Donut Hole at Stone Canyon in Oro Valley. Homes sell in the area for $600-$800,000 and will be structured as a rolling option between Fairfield and Stone Canyon. Details of the sale are not yet available. Jim Vincent and Mike Carlier of the Carlier Company handled the transaction.

New Transaction – Denise Alexis Roberts bought 7.76 acres for six platted lots in Picture Rocks from the McReynolds Family Trust for $180,000 ($30,000 per lot). It is unknown at this time plans for this site.

Rolling Option – Maracay Homes’ affiliate, Maracay Rancho Sahuarita, LLC completed its final takedown at Entrada Bonita in Rancho Sahuarita with three finished lots for $90,000 ($30,000 per lot) from Klondike Land Portfolio of San Diego that it was land banking for the builder. The 55′ x 120′ lots were part of a 107-lot rolling option that began in December, 2008.

Rolling Option – Maracay Homes’ affiliate, Maracay 91, LLC closed out its option with the final three finished lots at Tangerine Crossing from MFV-FC Portfolio, LLC an affiliate of Forest City Land Group in Cincinnati, OH for $217,500 ($72,500 per lot) for the 70′ x 117′ lots. Will White of Arizona Land Advisors Organization in Tucson and Ted Herman, formerly with Land Advisors and now with Sharpe and Associates represented the seller. The option began in 2010.

Rolling Option – Maracay continued building at The Preserve at Dove Mountain IV in Q1 and took down seven finished lots for $395,500 ($56,500 per lot) from Miramonte at Dove Mountain and three at $166,500 ($55,500 per lot). Average lot sizes run 5,678 sq. ft. in this subdivision. Will White of Arizona Land Advisors Organization of Tucson represented the seller. The option began in January, 2011.

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For additional articles on land sales in Q1 see the following article published by Arizona Daily Real Estate News this quarter:

https://realestatedaily-news.com.previewdns.com/rancho-vistoso-donut-hole-update/

https://realestatedaily-news.com.previewdns.com/the-petrus-crown-west-group-gladden-farms-acquisition/

https://realestatedaily-news.com.previewdns.com/rocking-rolling-options-at-d-r-horton/

https://realestatedaily-news.com.previewdns.com/rancho-sahuarita-home-permits-up-by-80-this-year/

https://realestatedaily-news.com.previewdns.com/rincon-knolls-goes-for-6-1-million/

https://realestatedaily-news.com.previewdns.com/lot-sales-brisk-along-tangerine-corridor/

https://realestatedaily-news.com.previewdns.com/pultes-del-webb-planning-650-homes-at-dove-mountain/

[mepr-show rules=”58038″]Quinlan can be reached at (520) 918-3801 and Harris is at (520) 918-2463. Feig and Mendenhall can be reached at (520) 747-4000. To reach White contact (520) 514-7454. Herman is at (520) 299-8766. Donley can be contacted at (520) 907-0955 and Carlier and Vincent are at (520) 529-3800.[/mepr-show]