Meritage and Richmond Purchase an additional 250 Homesites at Star Valley MPC in Tucson
TUCSON, ARIZONA –The Star Valley master-planned community in Tucson’s southwest sub-market has been extremely busy during the second half of 2021. Meritage Homes and Richmond American Homes each purchased additional lots for a combined total of 250 lots that will serve as next phases for each builder.
Both builders are very active with their current communities in the project Las Patrias at Star Valley (Meritage) and Seasons at Star Valley (Richmond American). Sales have been extremely strong and have signaled a renewed strength to Tucson’s southwest submarket. This activity has fueled the demand for additional lots to be purchased and prepared.
The project was initially purchased by Michael Geddes and Rick Andreen of Scottsdale in 2019. Earlier in 2020, Geddes and Andreen partnered with Sunbelt Holdings to develop the remainder of the project. Sunbelt Holdings has emerged as one of the largest master-developers in the Tucson region, developing well-known projects as La Estancia, Red Rock Village, and Sycamore Canyon.
Richmond American Homes purchased 134 lots 47’x115′ and Meritage Homes purchased 116 lots, 40’x115′. There are additional lot sales scheduled by year-end and into Q1 in addition to several plats being processed for approval into 2022.
“The Star Valley MPC has highlighted the pent-up consumer demand in the southwest submarket and the homebuilders are doing a great job meeting that demand. The project has been proactive in getting a large amount of lots approved this year to provide the homebuilders with seamless,“ready now” lot inventory. The project will not miss a beat into 2022-23 and will continue to be the “go to” address in southwest Tucson.”
The transactions were handled by Will White and John Carroll of Land Advisors Organization in Tucson. Land Advisors has the marketing assignment for all lot sales at Star Valley.