TUCSON, ARIZONA — One of Tucson’s most successful master-planned communities is getting ready to start construction on a new phase of 464 lots. Meritage Homes, Lennar and Pulte Homes Homes have teamed up to buy 464 finished lots paying a combined $29.1 million. Meritage Homes paid $16,195,750 for 271 lots (193-40’X115′ and 78-45’X115′) Lennar paid $6,790,000 for 97 finished lots (50X115) and Pulte paid $6,156,000 for 96 lots (45’X115′).
Meritage and Lennar have been building and selling in La Estancia for years and this will be Pulte’s first time in the project. The seller in these transactions was Sunbelt Holdings.
La Estancia, a 556-acre master planned community, offers master-planned living in this prime southeast submarket. Centrally located just off of I-10 and Wilmot Road and nearby some of Tucson’s most prominent employment centers including Raytheon Missile Systems, Davis Monthan Air Force Base, UA Tech Park and Tucson International Airport. Residents benefit from community amenities including a sparkling pool, splash pad, shaded ramadas and play equipment, ready for use. This new phase will advance development south of Camino Boleadoras and include a new amenity package as well.
“We are extremely pleased to launch this new phase of La Estancia,” said Greg Mohl, Vice President of Sunbelt Holdings. “The project has been in high demand by homebuilders and homebuyers since its grand opening several years ago. We continue to be thankful for our homebuilder partners like Meritage Homes and Lennar that have helped to make La Estancia such a success and we are excited to welcome Pulte Homes to the community.”
The transactions were handled by Will White and John Carroll of Land Advisors Organization. Sunbelt Holdings will continue to advance engineering on a follow up phase with new lots due out to market later in 2021. Land Advisors is handling the marketing.
Will White of Land Advisors-Tucson commented, “La Estanica has surpassed all of its projected metrics and is regarded as one of the best addresses in the Tucson metro area. The focus will be to continue to prepare plats and deliver them as quickly as possible to the project’s homebuilders. Tucson’s housing market continues to heat up and we expect the homebuilders at La Estancia to continue their record performance”
For additional information, White and Carroll can be reached at 520.514.7454.