QUEEN CREEK, Ariz. — Maracay, a wholly owned company of the TRI Pointe Group (NYSE: TPH), has closed on 266 premium homesites located in the Madera master planned community in Queen Creek.
Maracay paid $11.46 million ($43,083 per lot) for the 266 homesites, which have been purchased on a guaranteed finished basis that will total $25.15 million. The transaction between Maracay and the two sellers, Delaware entities owned by Communities Southwest, was brokered by Nate Nathan of Nathan & Associates in Scottsdale.
Located on Signal Butte Road, south of Queen Creek Road, the land parcel is being developed into a single-family community, and is expected to open to the public by late 2021. The new community will feature three sizes of homesites, offering both single- and two-story homes ranging from 1,850- to 4,200-square-feet. The largest homesites will feature all one-story floor plans, with select floor plans offering attached RV garages. Maracay anticipates the community will open for sales in late 2021.
“As a premium lifestyle brand, Maracay is committed to developing carefully crafted homes in the best locations,” Jason Weber, Maracay’s vice president of land acquisitions and development, said. “Today’s homebuyers want more and that’s exactly what we’re giving them at Madera. The architecture will be rooted in Queen Creek’s agrarian history, and select floor plans will feature RV garages, which are becoming a staple among Arizona homebuyers who need that extra space to accommodate their outdoor living needs.”
The Madera community will feature an amenity that includes a swimming pool, bathrooms and other recreational amenities. Bowman Consulting (John Gray) engineered the community and Thomas+Crowley (Craig Crowley) is the landscape architect.
Conveniently situated in the heart of Queen Creek’s fast-growing southern region, Madera offers easy access to the rest of the Valley via the Loop 202 SanTan Freeway and the new State Route 24. Families will enjoy easy access to several highly rated schools located just down the street, as well as a number of other top public, charter and private schools in the surrounding area. Additionally, major employment centers and plenty of shopping, dining and entertainment options are only a short drive away.
For more information on Maracay, please visit www.MaracayHomes.com.