KB Home First Homebuilder at Entrada Del Toro Neighborhood in Rancho Sahuarita

SAHUARITA, AZ (August 22, 2024)—Entrada Del Toro neighborhood in Rancho Sahuarita, broke ground for its first home builder, KB Home. When complete, Entrada Del Toro will have 1,000 homesites.

KB Home bought the first 93 lots, with a finished lot price of $5,766,000 ($62,000 per lot) for the 40’x120’ lots.

Other homebuilders at Rancho Sahuarita include Meritage, Lennar, Centex, and Richmond American.

The Rancho Sahuarita Master Planned Community has a 10-acre lake, amphitheater, recreation center, parks, mature tree-lined streets, fitness center, pool, splash pad, and basketball courts. With convenient access to I-10 and I-19 and 25 minutes to downtown Tucson, it is a short drive to Tucson Spectrum for shopping and dining. Less than 10 minutes to Sahuarita schools. Near major employment centers, including Northwest Medical Center Sahuarita and Freeport-McMoran.

Jeremy Sharpe, Managing Partner of Rancho Sahuarita, recently wrote in Trend Report that he was bullish on housing this year. The following are some of his insights:

“First, it’s simply supply and demand. Even with Southern Arizona’s modest growth, there is not enough new housing production to meet demand as resale inventory continues to be limited. As Will White of Land Advisors recently shared, “The lot supply shortage in Tucson is now at a crisis level and is the main component affecting affordability. This situation took 13 years to create and will take a long time to solve.”

“Second, there is a huge focus on attainable housing in the region, as the lack of supply has increased demand and development costs have risen simultaneously. Many local municipalities, like the Town of Sahuarita, are actively engaging the building industry to improve processes and collaborate to meet those calls.”

“Over the next decade, the region’s biggest challenge is our regional infrastructure—roads, sewers, and water. The past adage, “Growth will pay for itself,” no longer applies without planning and public financing. In 2014, the Rancho Sahuarita Community Facilities District was formed to pay for public infrastructure in our master-planned community—one of three in the region.”

“A CFD is a public financing tool in which bonds are sold to provide funding for the infrastructure, and then the future residents pay for the infrastructure over time through tax. Our most recent bond offering enables the development of offsite infrastructure for nearly 1,000 lots currently under construction. The structure allows us to move more swiftly to meet market needs and ultimately decreases the cost of the home. Without the CFD, these costs would be found in the price of the house, most likely making it unattainable for most homebuyers. I’m optimistic more municipalities will recognize the need for public financing options for large-scale infrastructure needs to encourage growth and affordable housing,” Sharpe concluded.

Diana Dessy, CCIM, Director of Land Assets for Rancho Sahuarita, handled the transaction with KB Home.

Dessy can be reached at 520.299.8766 for more information.

To learn more, see RED Comp #11410.

PHOTO: Rancho Sahuarita’s next 1,000 lots in Region 9, Entrada Del Toro.