TUCSON, Arizona — With strong home sales shown by Meritage Homes, Richmond American Homes is entering La Estancia masterplan with the purchase of 99-SFR lots from Sunbelt Holdings. Lots are 45’x 110’ and commanded a finished sale price of approximately $4.9 million ($49,500 per finished lot).
Scottsdale-based Sunbelt is a recognized leader in real estate development and acquired the platted but dormant masterplan in 2013 to complete infrastructure and amenities. Sunbelt has developed some of the most beloved Arizona residential communities including McDowell Mountain Ranch, Power Ranch and Vistancia in metro Phoenix. In all, Sunbelt has developed more than 50,000 acres of land over the past 30 years.
Richmond American Homes, the second homebuilder to begin construction in the highly anticipated La Estancia masterplan will be holding a grand opening soon. Richmond is not new to the Vail area with several communities already at Mountain Vail Ranch I and II and Sycamore Point.
Will White and John Carroll of Land Advisors Organization in Tucson represent Sunbelt Holdings for land sales in La Estancia.
“La Estancia has been strong since its grand opening last year and we are pleased to bring another high-quality builder to the community,” said White. “Richmond American has been a long time Tucson homebuilder and recognized the quality lifestyle Sunbelt is building into La Estancia.”
“Housing demand along the I-10 corridor is strong because of the convenience to employers such as Raytheon, UA Tech Park, Davis-Monthan and Tucson International Airport,” White continued. “Located off I-10 between Kolb and Wilmot within the sought-after Vail School District, La Estancia offers buyers a relaxing lifestyle conveniently close to Tucson’s central core.”
La Estancia includes a mix of affordable housing in a community that has set aside a portion for natural or enhanced open space, linear parks, pedestrian trails, bike paths, environmentally-friendly recreational facilities, and preserved desert wildlands, all integral to the community’s design. The Julian Wash Linear Park, running along the northern portion of the community will provide additional trails that can eventually link La Estancia residents to downtown Tucson.
Meritage was the first homebuilder in the community and began sales in Spring of 2016 on 195 homesites. Meritage sales have been strong since the opening and they reported 15 sales for February in La Estancia making it one of the best selling projects in 2017.
For additional information, White and Carroll should be reached at 520.514.7454.
To learn more, see RED Comp #4621.