MARANA, AZ — LGI Homes recently purchased 99 partially improved SFR lots for $4.33 million ($43,700 per lot) at Farm Field Five in North Marana from Dolphin Partners of Irvine, California. Farm Field Five is a 224 lot subdivision portion of Vanderbilt Farms.
Builders have purchased, optioned or will be under construction for 548-lots in North Marana, representing over $20 million in land acquisition and lot development investment for the area over the past 12 months.
Will White and John Carroll with Land Advisors Organization handled the LGI transaction.
White says, “This kind of land acquisition and development activity in one immediate area is a big eye opener for the market. North Marana has gone from one to six homebuilders in 12 months. With all of the new amenities, the story is getting better all the time. The fuse has been lit and we expect the momentum in this area to keep rolling. I think we will be talking ALOT about north Marana over the next few years.”
KB Home, Lennar, Richmond American, and Meritage are building at Gladden Farms. DR Horton has also started at Fianchetto Farms and LGI now at Farm Field Five.
“It is no secret that Tucson metro area had a much better selling year for new homes in 2016 and has seen a surge in employment announcements with potentially more on the way. We are noticing that the builders have recognized this and are working to position themselves for big things to come! We are now into discussions on the next phases of this area with several homebuilders,” White concluded.
“The North Marana area isn’t pioneering, it was already established. The Gladden Farms master-planned community has over 1300 existing homes. What we are seeing now is the synergy of new amenities, great family lifestyle, and builders taking advantage of new opportunities. They are making a commitment to this area because of the proven history and the strong future potential.”
White and Carroll also represent the Gladden Farms community.
For additional information, White and Carroll can be reached at 520.514.7454.
To learn more, see RED Comp #4274.