TUCSON, Arizona – Lennar Homes closed on 162-platted lots at Valencia Crossing Lots 3 & 4, at the northeast corner of I-10 and Valencia Road for $1.82 million ($11,235 per lot). Valencia Crossing is a planned area development approved in June 2012 that encompasses areas of vacant land to the east and west of the Valencia Road interchange at I-10.
Lennar Homes is the first developer moving forward to develop the area. Located in the Tucson southeast submarket, Lennar’s 162-lots are bordered by Julian Wash to the east and I-10 to the west, just inside Tucson City limits.
The development plans include a recreational area which would have amenities including a children’s play area featuring a soft floor surface and playground with shade awning, basketball court, ramada, barbeque and picnic tables. The community would also feature several pocket parks, along with a multi-use path that connects the community to The Chuck Huckelberry Loop path network, / more than 120 miles of paved pathways and bike lanes already completed with an additional 11 miles planned or currently under construction.
The development will be accessed by a new spine road named Valencia Crossing Drive, which originally was intended to connect to Drexel Rd, but will now end in a cul-de-sac for the time being.
Lennar Homes will be developing and constructing on the 45’ and 50’ platted lots.
Valencia Crossing is a 195-acre commercial/industrial/multi-family site adjacent to a 166-acre FSP Solar facility first developed by Diamond Ventures. It is likely to eventually include a grocery store and other retail, storage units, RV parking, recreation and power sub-stations are also other possible uses for the area. All of the lots are on the market.
Derrick Sinclair of Terramar Properties in Tucson represents the seller, Desert Parcel 510 Associates, LLC (Bob Morken, Jr. manager) and Lennar was self-represented.
For more information, Sinclair should be reached at 520.577.7800.
To learn more, see RED Comp #6938.